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Van Lanschot Kempen: net profit of nearly €10 million in first half of 2020

26 August 2020

Karl Guha, Chairman, said: “Covid-19 has been a defining factor for the first half of this year – at a societal and an economic level. For our clients, this has been a period of profound uncertainty about the present and future. Our past investments in omni-channel capabilities have served us well, in the sense that we were able to serve our clients well and be there for them in their time of need. We were rewarded with meaningful growth in client assets during this period. For this we are very grateful to our clients. As such, our strong operational performance during a challenging first half, is a testimony to the investments we have made in the past in technology and in our people." 

In short:

  • Net profit of €9.5 million in H1 2020; strong second quarter performance with a net profit of nearly €20 million

  • Strong net inflows of €4.7 billion, of which €4.4 billion in AuM. Client assets increase to €103.4 billion (2019: €102.0 billion)

  • Good underlying operating performance, notwithstanding incidental items in Q1 due to Covid-19

  • Limited credit exposure – addition to loan loss provisions of €1.3 million

  • Robust capital ratio at 24.0%

  • Successful next step in growth strategy: acquisition of Hof Hoorneman Bankiers, bringing in client assets of €1.9 billion 

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