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Van Lanschot Kempen: Enhancing capital strategy and first-quarter 2022 trading update

11 May 2022

Maarten Edixhoven, Chair of the Van Lanschot Kempen Management Board, said: “The first quarter of this year was marked by high levels of uncertainty and volatility in the financial markets, caused by the terrible war in Ukraine and the ongoing pandemic. Our clients’ confidence and the sheer commitment and dedication of our people have kept our net assets under management (AuM) inflows in the black at €0.7 billion, pushed up commission income by 18% and brought us a strong net result of €25.1 million."

“Our transformation from a universal bank into a specialist wealth manager with a focus on private banking, professional solutions, investment management and investment banking is now complete, and this is a good time to enhance our financial targets and capital strategy. Our organisation boasts a solid growth track record, both organically and by acquisition, and we focus on growth while maintaining a capital-light balance sheet. Of course, our people are key: we have a great team full of entrepreneurial spirit and focused on our clients. We want to increase employee participation. The launch of an attractive employee share scheme at the start of the year proved a resounding success and we’ll soon be announcing a specific scheme for senior employees.”

In short:

Capital Markets Day

  • Transformation into specialist wealth manager completed successfully
  • Focus on growth: organic, coupled with bolt-on acquisitions
  • Enhancing financial targets and capital strategy

First-quarter 2022 trading update

  • Q1 net result at €25.1 million (Q1 2021: €33.1 million), decrease due to an incidental exceptional charge; underlying net result €35.7 million (Q1 2021: €33.7 million), with commission income up 18%
  • Client assets at €125.5 billion (2021: €131.1 billion) and AuM at €106.3 billion (2021: €112.1 billion)
  • Net AuM inflows at Private Clients of €0.6 billion and at Wholesale & Institutional Clients of €0.1 billion
  • Robust capital ratio at 20.8% (2021: 23.7%), decrease driven by steeper capital requirements for residential mortgages

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