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Van Lanschot Kempen: strong net profit of €58.3 million

26 August 2021
In short:
  • Net profit increased to €58.3 million (H1 2020: €9.5 million)

  • Record net AuM inflows at Private Clients of €2.4 billion; net outflows at Wholesale & Institutional Clients of €2.0 billion, due to a few institutional mandates

  • Client assets increased to €121.0 billion and AuM to €104.2 billion

  • Strong growth in management fee income

  • Strong capital ratio to 21.9% (2020: 24.3%); decrease caused by a more prudent calculation of market risk, among other factors

  • Pay out 2019 dividend and remainder 2020 dividend – totalling €1.95 per share in beginning of Q4

Karl Guha, Chairman, said: “It would be fair to say that we have had a good first half of the year. The numbers speak for themselves. The performance was strong across the board. The growth in assets under management in our high yielding Private Clients segment is particularly gratifying – notwithstanding some of the headwinds we have had in our institutional business. We believe that our approach of combining “personal touch”, professional expertise and technology is beginning to bear fruit. There is every reason to believe that we are well positioned for further growth in all our businesses."

“Furthermore, our inorganic growth in assets under management was further strengthened, through our successful acquisitions in the Netherlands and in Belgium. As such, it is an important step towards realising our goal of being the most respected and successful wealth management house in the Benelux.”

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