Van Lanschot trading update: Q3 2014

  • Modest net profit in third quarter
  • Client assets climb to €56.9 billion
  • Solid capital base strengthened further: Common Equity Tier I ratio[1] up to 14.1%
  • Launch of wealth planning advisory service the next strategic move


Van Lanschot today published its trading update for the third quarter of 2014. Constant Korthout, Van Lanschot’s Chief Financial & Risk Officer said: “We are on track with the execution of our strategy to transform Van Lanschot into a specialist wealth manager.

“In October, we launched our new-style wealth planning advisory service: an innovative concept for private banking clients that meets their increased need for support in preserving and creating wealth. Evi van Lanschot, our online service for savings and investment, continues to develop well and is generating an inflow of assets from existing and new clients. Corporate Banking continues its run-off of the commercial and real estate loan book.

“Building on institutional client appetite, Asset Management has launched two new global funds in its well-known investment classes: Kempen Global Small-cap Fund and Kempen Global Property Fund. Merchant Banking’s focus on niche markets was rewarded by several appealing transactions.

“Results from interest income and securities commissions were in line with the first two quarters of this year, with securities commissions up on the year-earlier figure. Costs have edged down in 2014 and a comparable amount was added to loan loss provisions as in 2014’s first two quarters, taking this figure below that for the third quarter of 2013. On 30 September 2014, total client assets amounted to €56.9 billion, an increase of €0.8 billion on the first half ended 30 June 2014. Total client assets have grown by €3.4 billion in the year to date.

“The phase-in Common Equity Tier I ratio[1] was up further, to 14.1%, and the fully loaded Common Equity Tier I ratio1 stood at 11.8%. The leverage ratio[2] amounted to approximately 5%.”

[1] Excluding retained earnings in current financial year

[2]Fully loaded

Van Lanschot trading update: Q3 2014 (pdf)

 

Stock Van Lanschot (AEX): LANS More stock exchange information

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