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Van Lanschot Kempen trading update third quarter 2019

31 October 2019

Van Lanschot Kempen today released its trading update for the third quarter of 2019.

Constant Korthout, Van Lanschot Kempen’s Chief Financial & Risk Officer, said: “Our third-quarter result is similar to our performance in the first two quarters of the year if we exclude book profits. Interest income was relatively stable in the third quarter, but we expect falling market rates to put greater pressure on interest income going forward. We’re on track to stay within our target cost range of around €390 million net in 2019.

In short:

  • Quarterly results in line with first two quarters of the year (excluding book profits)
  • Client assets add 4% to €101.1 billion and AuM 5% to €86.6 billion
  • Net AuM inflow of €0.8 billion at Asset Management and Private Banking  
  • Fully loaded CET1 ratio (excluding retained earnings) of 22.0%
  • DNB intends to introduce a minimum floor for risk weights of mortgage loans in the autumn of 2020. First estimates suggest that the proposed measure will increase RWA by 10-12%

Read the full press release on the Van Lanschot Kempen website

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