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Thursday, 18 May 2017

Van Lanschot trading update: first quarter of 2017

Van Lanschot    

Published: 07:30 CEST 18-05-2017 /GlobeNewswire /Source: Van Lanschot / : LANS /ISIN: NL0000302636

Van Lanschot trading update: first quarter of 2017

 

  • Positive results continue
  • Client assets rise to €70.8 billion
  • Private Banking, Evi and Asset Management grow on net AuM inflows
  • Solid capital base underlined by increase in Common Equity Tier I ratioi to 19.3%

 

's-Hertogenbosch, the Netherlands, 18 May 2017

 

Van Lanschot today publishes its trading update for the first quarter of 2017.

Constant Korthout, Chief Financial & Risk Officer at Van Lanschot, comments: "We are pleased with our first-quarter performance. Our results are up and our income is showing a positive development. Markets were less volatile in the first quarter than they had been in the first three months of 2016, as reflected by higher commission income and client assets adding €1.4 billion to €70.8 billion. Our results also include a book profit on the successful sale of Van Lanschot Participaties' minority stake in TechAccess.

 

"Operational expenses as well as the addition to loan loss provisions were at similar levels to last year. The implementation of Strategy 2020 is on track, as demonstrated by the further run-off of Corporate Bank's loan portfolio and outsourcing of mortgage administration and payments services.

 

"First-quarter assets under management (AuM) were up on the back of €0.4 billion net inflows generated by Private Banking, Evi and Asset Management, among other factors. 

 

"Private Banking is reporting positive momentum, with clients welcoming our investment advice app launched at the beginning of March. Also, we have fully and successfully integrated Staalbankiers' private banking activities. The quarter's upbeat sentiment and price trends caused an uptick in both net inflows and AuM.

 

"After building brand awareness, Evi van Lanschot is now focusing on the next step in its marketing strategy and enhancing growth. We're investing in improving our data analyses and online convenience to create an even better fit between what our Evi clients want and the service we provide.

 

"Asset Management got off to a flying start, with AuM up in both fiduciary management and investment strategies managed by Asset Management. In the three years since their inception in 2014, Kempen Global Small Cap Fund and Kempen Global Property Fund have established robust track records and created a solid foundation for further growth. In April we signed a draft agreement with Stichting Pensioenfonds UWV on the appointment of Kempen Capital Management (KCM) as the latter's fiduciary manager from 1 October 2017. With invested capital of around €7.3 billion, the pension fund will be KCM's third fiduciary client with assets exceeding €5 billion.

 

"As is often the case in the first quarter, Merchant Banking had a fairly slow start to the year. In 2016, it gained momentum after the summer and this year also promises a solid pipeline for the quarters ahead.

"Our strong capital position is underlined by an increase in our phase-in Common Equity Tier I ratioi to 19.3%. The fully loaded Common Equity Tier I ratioii rose to 19.0%, while our leverage ratioii was stable at 6.8%."

 

 

2017 FINANCIAL CALENDAR

 

18 May             2017 Annual General Meeting of Shareholders  

29 August         Publication of 2017 half-year results

3 November      Publication of 2017 Q3 trading update

 

 

 

Media Relations: +31 20 354 45 85; mediarelations@vanlanschot.com

 

Investor Relations: +31 20 354 45 90; investorrelations@vanlanschot.com

 

 

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, a wealth manager operating under the Van Lanschot, Kempen and Evi 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 NV is listed on Euronext Amsterdam.

 

 

 

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'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 risks, developments and uncertainties that by their very nature fall outside the control of Van Lanschot and its management.

 

Actual results and circumstances may differ considerably as a result of risks, developments and uncertainties relating to Van Lanschot's expectations regarding, but not limited to, estimates of income growth; costs; the macroeconomic and business climate; political and market trends; interest rates; behaviour of clients, investors and/or counterparties; actions by supervisory and regulatory authorities and private entities; and changes in law and taxation.

 

Van Lanschot 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 included in this document have not been audited. This document does not constitute an offer or solicitation for the sale, purchase or acquisition in any other way of 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 contain information about Van Lanschot N.V. and/or F. van Lanschot Bankiers N.V. within the meaning of Article 7(1) up to (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.

 

 

 



i Phase-in, excluding retained earnings for the current financial year.

ii Fully loaded, excluding retained earnings for the current financial year.



Press release Q1 2017 trading update



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Van Lanschot, Postbus 1021, 's-Hertogenbosch 5200 HC, Nederland
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