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Van Lanschot Kempen: net profit at €50 million and 13% growth in client assets

25 February 2021

Karl Guha, Chairman, said: “Covid-19 has been a defining feature of the year. In more ways than one, it has forced us all to confront the fragility and realities of life. We have had a reasonably good year financially, notwithstanding the market dislocations and limitations placed upon us by the pandemic. Our investments over the last several years in technology – in particular in omni-channel service model and other forms of digitalisation – have allowed us to serve our clients well and be there for them in their times of need.
We believe that dedication to clients and catering to their needs is a defining feature for us. And we were well rewarded by our clients, as evidenced by the growth in AuM. We are very grateful to our clients for the trust they have placed in us.”

In short:

  • Net profit at €49.8 million for 2020, of which €40.3 million recorded in second half 
  • Record net inflows of €1.4 billion at Private Banking
  • Client assets increased by 13% to €115.0 billion and AuM were up by 13% to €99.0 billion on the back of net inflows of €6.9 billion
  • Solid cost management pushed down costs by €12.3 million to €371.8 million
  • Very limited addition to loan loss provision of €1.9 million
  • Capital ratio increases to 24.8%
  • Proposed dividend of €0.70 per share (2019: €1.45 per share)

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