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Van Lanschot Kempen: trading update third quarter 2020

29 October 2020
In short:
  • Quarterly result in line with second quarter of the year

  • Client assets added 3% to €106.3 billion and AuM 3% to €92.0 billion

  • Net AuM inflow of €1.4 billion at Private Banking and Asset Management

  • Limited addition to loan loss provisions, reflecting our wealth management profile

  • Capital ratio increases to 24.9%

Constant Korthout, Van Lanschot Kempen’s Chief Financial & Risk Officer, said: “The current circumstances around Covid-19 remain exceptional and we’re seeing the impact of the virus return and increase all around us. At the same time, we note that the third quarter was a good one financially for most of our clients. The low risk exposure in our loan portfolio and resultant minor addition to our loan loss provisions have once again proven the robustness of our wealth management model. Over the past few months, we have stuck to the cost-saving measures announced previously, and the outcomes show that we have costs under control. We’re pleased with our solid results in the third quarter.”

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