Van Lanschot Kempen: net profit exceeds €98 million in 2019

Karl Guha, Chairman, said: “We’re proud of what we’ve achieved in 2019. Our net profit added €18.1 million to €98.4 million, while cost-saving measures have helped us cut operating expenses to €384.1 million and keep costs levels below the €390 million target figure we had previously issued. Our client assets surged to €102.0 billion on the back of a net inflow in assets under management (AuM) at both Asset Management and Private Banking. Our robust capital position enabled us to pay yet another capital return of €1.50 per share in December, and we have completed our strategic investment programme on schedule with the achievement of the final milestone – the migration to the new payments platform.”

In short:

Net profit staged a significant increase to €98.4 million (2018: €80.3 million), with underlying net result up to €108.8 million (2018: €103.0 million)
Operating expenses came down by 3% to €384.1 million and stayed within the target for 2019 of €390 million
Client assets grew by 26% to €102.0 billion, with AuM adding 31% to €87.7 billion on the back of €9.9 billion net inflows
CET 1 ratio increased to 23.8% (2018: 21.1%)
Dividend proposal of €1.45 per share (2018: €1.45 per share)

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News & Knowledge

2021, 16 July

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Credit quarterly newsletter

Kempen’s Credit team immerses itself in the credit markets on a daily basis. As these markets can change rapidly, it’s vital for the team to be on top of all the latest developments, understand what’s going on and adjust its portfolios accordingly if necessary. The team receives regular enquiries from our clients about its views on the credit markets and where the best opportunities currently lie, so we publish a quarterly credit newsletter providing the team’s views on a topic of interest. In this edition, we talk about our approach 'alpha by control' and more specific how to generate alpha in a low-spread environment.

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