Published: 7.30 CEST

• Net profit at €51.8 million (H1 2022: €48.2 million)
• Net AuM inflows at Private Clients: €2.2 billion; Wholesale & Institutional Clients: €1.0 billion 
• Client assets: €130.8 billion (2022: €124.2 billion) and AuM: €115.2 billion (2022: €107.8 billion)
• Robust capital ratio at 21.6% (2022: 20.6%); well above our 17.5% target
• Capital return proposal in the amount of €2.00 per share

Maarten Edixhoven, Chair of the Van Lanschot Kempen Management Board, said: “Against a volatile economic and geopolitical backdrop, I am very pleased with the net inflow of €3.2 billion in assets under management (AuM). This demonstrates the trust existing and new private and institutional clients have in Van Lanschot Kempen. We remain committed to growth by continuously improving our services, with a focus on personal attention and digital service. We also made good progress integrating Mercier Vanderlinden in Belgium and preparing the integration of Robeco’s online investment platform in the Netherlands. Meanwhile, we remain disciplined in preserving our robust capital and liquidity positions. The commitment of our people and the confidence of our clients and shareholders allow us to look back on a solid first half.

“Private Clients reported robust results. We expanded our service offering by launching a proposition that enables private banking clients to put their own personal stamp on their discretionary management portfolios. Also, we added a further 15 private bankers to our team and launched a ‘Young Private Banking Programme’ training our private bankers of the future. Profitable growth is our focus at Wholesale & Institutional Clients. Following up on initiatives announced last year, we’re taking additional cost-saving measures while at the same time bolstering our commercial strength. Investment Banking Clients faced a persistently challenging environment for transactions. To achieve an efficiency ratio of 70% – our target – we maintain a strict focus on costs in all our activities. 

“Our annual research report into the views of high net-worth individuals in the Netherlands revealed that a majority want their wealth managers to lead by example on sustainability. We’ve made great strides in this respect since 2019, having cut our own carbon emissions by 41%. Our ambition also remains to reduce the climate impact of investments and mortgages year after year, in dialogue with our clients and the companies in which we invest.

“Our capital and liquidity positions remained robust, with an increase in our CET 1 ratio to 21.6%, well ahead of our target, and a liquidity ratio of 172%. This enables us to propose a capital return of €2.00 per share in the second half of 2023.”

 

Performance report, presentation and webcast
For a detailed discussion of Van Lanschot Kempen’s results and balance sheet, please refer to its performance report and presentation on the 2023 half-year results at Financial results.

In a conference call on 24 August at 9:00 am CET, it will discuss its 2023 half-year results in greater detail. This may be viewed live at Financial results and played back at a later date. 

Additional information
For additional information, go to Investor Relations. 

Financial calendar
5 October 2023 - Extraordinary general meeting
2 November 2023 - Publication of 2023 third-quarter trading update 
22 February 2024 - Publication of 2023 full-year results

 

More information
Media Relations: +31 20 354 45 85; mediarelations@vanlanschotkempen.com
Investor Relations: +31 20 354 45 90; investorrelations@vanlanschotkempen.com