thewealthnet     About Us    |    FAQs    |    Contact Us
 
  Search
 
     
  Advanced Search       RSS Feed  twitter  linkedin 
Welcome to thewealthnet    |   Europe, Middle East & Africa Get The App   |   Login
  Sun 22nd Jul 2018  |    Make this my homepage  
Subscribe now!
Credit Cards Accepted
World Map
    
Van Lanschot Kempen reports 'strong' results in 2017
22/02/2018 , News Team

Netherlands-based Van Lanschot Kempen has reported net profit of EUR 94.9 million for 2017, a year on year increase of 36 percent. Underlying net result was up by over 38 percent to EUR 112.3 million.

Total assets under management (AUM) for its private banking unit increased to EUR 22.8 billion compared with EUR 19 billion in 2016.

The group as a whole reported an AUM increase of 17 percent to stand at EUR 69.2 billion in 2017 driven by EUR 9.3 billion in net inflows.

Client assets reached EUR 83.6 billion compared with EUR 69.4 billion at year-end 2016. 

In 2017, operating expenses added 2 percent to EUR 392.1 million. The main factor was higher staff costs with the incorporation of Staalbankiers and UBS Nederland. Also, administrative expenses were higher in 2017, as Van Lanschot Kempen engaged in various IT projects related to the implementation of new rules and regulations.

Karl Guha, chairman, said: “The organic growth (17 percent) of our AUM was strong. The takeover of the wealth management activities of UBS in the Netherlands was our third successful acquisition in as many years. Our focus on wealth management has increased in 2017 as we have managed to wind down our corporate loan portfolio to EUR 0.9 billion and as we have spun-off or outsourced a range of activities not part of our core business."

Mr Guha added that the group is making good progress on achieving its financial objectives by 2020. 

Van Lanschot Kempen is active in private banking, asset management and merchant banking.

Share with Linkedin Share with Twitter
 RATE THIS ARTICLE
Poor   Average   Good   Excellent
thewealthnet archives contain 49,690 articles dating back to 1997,making it the largest single source of information on the wealth management industry world-wide. To search for more articles, please click here.

 

© This article originally featured on thewealthnet. It is protected by international copyright law. If you copy this article illegally, you will be liable to prosecution. All rights in and relating to this article are expressly reserved. No part of this article may be reproduced, stored in a retrieval system or transmitted in any form or by any means without written permission from the publishers.

 
    Latest Headlines:    by Topic | All News
 
  Advertise   |   Contribute   |   Press Release   |   Terms of Use   |   Privacy   |   Contact Us Copyright Pam Insight Ltd., All Rights Reserved