In his New Year's speech to the employees of Van Lanschot on Friday 8 January, Floris Deckers, chairman of the Board of Managing Directors, addressed among other things the return of the public's confidence in the banking sector. "Banks have been called to account by the public, politicians and the media. We are prepared to show that we have the ability to change. However, restoring the public's confidence will be a gradual process." In this context he also referred to the recommendations published by the Maas Committee. "We will interpret these recommendations as broadly as possible. In good consultation with the Supervisory Board, we are currently amending the remuneration policy for the Board of Managing Directors, including any necessary changes in the current contracts", according to Mr Deckers.
2009 results: the recovery continues
Talking about the results for 2009, Floris Deckers also said: "Following the low point in March/April 2009, income during the remainder of the year showed an upward trend, partly thanks to the improvement in the interest margin. Assets under Management increased by some 14%, due to higher share prices as well as a net inflow of new money. In the course of 2009 the workforce was reduced by some 9%. While in the first half of 2009 a loss was reported, the second half of the year was profitable. Our capital position at 31 December 2009 remained solid, with a BIS total capital ratio of almost 12%. The liquidity of Van Lanschot remained extremely strong. The funding ratio (around 80%) is virtually the highest among the banks operating in the Netherlands."
Relying on own strength
Van Lanschot took a conscious decision in late 2008/early 2009 to weather this crisis by relying on its own strength. On this subject, Mr Deckers said: "We strongly believe that Van Lanschot's decision not to seek state support is in the best interests of Van Lanschot and its clients. In our opinion, this is a sign of strength."
The full text of the New Year speech can be found on the website www.vanlanschot.nl
''s-Hertogenbosch, 8 January 2010
Van Lanschot Media Relations: Etienne te Brake, Corporate Communication spokesperson
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Van Lanschot NV is the holding company of F. van Lanschot Bankiers NV, the oldest independent bank in the Netherlands with a history dating back to 1737. Van Lanschot focuses on three target groups: high net-worth individuals, medium-sized businesses (including family businesses) and institutional investors. Van Lanschot stands for high-quality services founded on integrated advice, personal service and customised solutions. Van Lanschot NV is listed on the Euronext Amsterdam Stock Market.