Brief: Van Lanschot Kempen Reports Q1 Net Loss Of 10.5 Million Euros

Van Lanschot Kempen NV

07/05/2020 07:51

May 7 (Reuters) - VAN LANSCHOT KEMPEN NV  VLAN.AS :
    * VAN LANSCHOT KEMPEN TRADING UPDATE: FIRST QUARTER OF 2020
    * UNPRECEDENTED IMPACT OF COVID-19 ON WORLD'S ECONOMIES,
FINANCIAL
MARKETS AND SOCIETY AT LARGE HAS ALSO AFFECTED OUR PERFORMANCE
    * Q1 LIQUIDITY AND SOLVENCY REMAIN VERY ROBUST AT AN LCR OF
151.6%
AND A CET 1 RATIO OF 22.8%
    * IN Q1 A SERIES OF INCIDENTAL ITEMS RELATED TO MARKET
VOLATILITY
HAS RESULTED IN NET LOSSES OF EUR 10.5 MILLION
    * LIMITED CREDIT EXPOSURE MAKES FOR LOW LEVELS OF
PROVISIONING
    * PAYMENT OF 2019 DIVIDEND WILL NOT BE EARLIER THAN 1
OCTOBER 2020
    * VAN LANSCHOT KEMPEN WILL POSTPONE ITS C.300 BASIS POINT
REDUCTION IN CAPITAL RATIO THAT HAD BEEN ANNOUNCED IN RESPONSE
TO DNB-IMPOSED MEASURE
    * PAYMENT OF DIVIDEND IS CONDITIONAL UPON BEING IN
COMPLIANCE WITH
OUR CAPITAL RATIO TARGETS AND AS CIRCUMSTANCES ALLOW – SUCH AS
THE UNCERTAINTIES OVER THE CORONAVIRUS (COVID-19)
    * Q1 OPERATING LOSS BEFORE TAX OF EUR 14.7 MILLION VERSUS
PROFIT
OF EUR 18.6 MILLION YEAR AGO

Source text for Eikon:  ID:nGNE3sM6lL 
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