Van Lanschot Kempen trading update: third quarter 2018
02 11월 2018 - 3:30PM
's-Hertogenbosch, the
Netherlands, 2 November 2018
-
Solid result in third
quarter
-
Client assets increase to €84.9
billion
-
AuM rises to €70.4 billion,
largely on the back of net inflows of €1.2 billion
-
Fully loaded CET1 ratio works
out at 20.6%
Van Lanschot Kempen today released its trading update for the third
quarter of 2018.
Constant Korthout, Van Lanschot Kempen's Chief
Financial & Risk Officer, said: "We are happy with our
third-quarter results. Our commission income was up on the back of
higher assets under management (AuM) and yet another good quarter
at Merchant Banking. As expected, cost levels were lower than in
the first two quarters of the year, supported by seasonal effects.
Another boost in the quarter came from the proceeds in excess of
€10 million from the sale of our minority interest in Ploeger
Oxbo.
"In the third quarter, our client assets
rose to €84.9 billion, with AuM climbing to €70.4 billion, largely
on the back of total net inflows of €1.2 billion at Private Banking
and Asset Management.
"Positive sentiment at Private Banking continued
and was reflected in net AuM inflows. We are constantly working to
improve our wealth management proposition. Over the past few
months, all our clients have been introduced to our new 'Mijn Van
Lanschot' online environment. We also launched our Van Lanschot
Private Service for our investment advisory clients, giving them
access to exclusive services in areas such as lifestyle, travel and
healthcare.
"Evi's client numbers continued to grow. In the
third quarter, Evi launched a new product: Evi Go makes online
investing even easier and more accessible, with a simple
on-boarding process to get anyone started as an investor in three
easy steps.
"Asset Management was a major contributor to net
AuM inflows, with fiduciary management accounting for net inflows
while our investment strategies recorded outflows.
"Various capital market transactions added to a
robust third quarter for Merchant Banking. Immediate success
followed on the division obtaining - in July - its licence to act
as an underwriter for equity issues in US markets. The Life
Sciences team was involved in the capital market transactions of
Galapagos and Argenx in the US. In addition, Merchant Banking teams
were in on Azora's Spanish real estate transaction and Tritax
Eurobox's IPO in the United Kingdom.
"In October, our shareholders approved our
proposed capital return of €1.50 per share, which we plan to pay
out on 19 December. Leaving out a total capital return of some
€60 million and thanks to the reduction in our risk-weighted
assets, our fully loaded CET1 ratio[1] works out
at 20.6%."
FINANCIAL CALENDAR
19 December 2018
Proposed capital payment date
21 February
2019 Publication
of 2018 annual results
24 April
2019 Publication
of 2019 Q1 trading update
Media Relations: +31 (0)20 354 45 85;
mediarelations@vanlanschotkempen.com
Investor Relations: +31 (0)20 354 45 90;
investorrelations@vanlanschotkempen.com
About Van Lanschot
Kempen
Van Lanschot Kempen, a wealth manager
operating under the Van Lanschot, Evi and Kempen brand names, is
active in Private Banking, Asset Management and Merchant Banking,
with the aim of preserving and creating wealth for its clients. Van
Lanschot Kempen, listed at Euronext Amsterdam, is the Netherlands'
oldest independent financial services company with a history dating
back to 1737.
vanlanschotkempen.com
Disclaimer and cautionary note on forward-looking
statements
This document may contain
forward-looking statements on future events and developments. These
forward-looking statements are based on the current insights,
information and assumptions of Van Lanschot Kempen's management
about known and unknown risks, developments and uncertainties.
Forward-looking statements do not relate strictly to historical or
current facts and are subject to such risks, developments and
uncertainties that by their very nature fall outside the control of
Van Lanschot Kempen and its management.
Actual results and circumstances may differ
considerably as a result of risks, developments and uncertainties
relating, but not limited to, income growth, costs, the
macroeconomic and business climate, political and market trends,
interest rates and currency exchange rates, behaviour of clients,
competitors, investors and counterparties, actions taken by
supervisory and regulatory authorities and private entities,
changes in law and taxation, ownership changes that may influence
the future availability of capital, and changes in credit
ratings.
Van Lanschot Kempen cautions that forward-looking
statements are only valid on the specific dates on which they are
expressed, and accepts no responsibility or obligation to revise or
update any information following new information or changes in
policy, developments, expectations or other such factors.
The financial data in this document have not been
audited, unless expressly stated otherwise. This document does not
constitute an offer or solicitation for the sale, purchase or
acquisition in any other way or subscription to any financial
instrument and is not an opinion or a recommendation to perform or
refrain from performing any action.
Parts of this document may provide insider
information about Van Lanschot Kempen NV and/or Van Lanschot NV as
meant in Articles 7(1) up to and including (4) of EU Regulation
596/2014.
This document is a translation of the Dutch original and is
provided as a courtesy only. In the event of any disparities, the
Dutch version will prevail. No rights can be derived from the
translated document.
[1] Excluding
retained earnings.
Press release Q3 trading
update
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Van Lanschot Kempen via Globenewswire
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