Brief: Van Lanschot Kempen H1 Net Profit Down At 9.5 Million Euros

Van Lanschot Kempen NV

26/08/2020 06:59

Aug 26 (Reuters) - VAN LANSCHOT KEMPEN NV  VLAN.AS :
    * NET PROFIT OF EUR 9.5 MILLION IN H1 2020; STRONG Q2
PERFORMANCE
WITH A NET PROFIT OF NEARLY EUR 20 MILLION
    * STRONG NET INFLOWS OF EUR 4.7 BILLION, OF WHICH EUR 4.4
BILLION
IN AUM. CLIENT ASSETS INCREASE TO EUR 103.4 BILLION (2019: EUR
102.0 BILLION)
    * GOOD UNDERLYING OPERATING PERFORMANCE, NOTWITHSTANDING
INCIDENTAL ITEMS IN Q1 DUE TO COVID-19
    * END-H1 ROBUST CAPITAL RATIO AT 24.0%
    * ACQUISITION OF HOF HOORNEMAN IS SUBJECT TO APPROVAL OF
REGULATORS AND IS EXPECTED TO BE COMPLETED BY END OF 2020
    * WE BELIEVE THAT WE ARE WELL POSITIONED FROM A CAPITAL AND
ASSET
QUALITY PERSPECTIVE TO WEATHER COVID-19 STORM
    * LIMITED CREDIT EXPOSURE - ADDITION TO LOAN LOSS PROVISIONS
OF
EUR 1.3 MILLION
    * FIRST HALF SAW A NET RESULT OF EUR 9.5 MILLION (H1 2019:
EUR
31.4 MILLION EXCLUDING ONE-TIME GAINS FROM TWO SALESI)
    * END-H1 STRONG NET INFLOWS OF EUR 4.7 BILLION, OF WHICH EUR
4.4
BILLION IN AUM

Source text for Eikon:  ID:nGNE74zkLk 
Further company coverage:  VLAN.AS 

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