- Net profit increases to €69.8 million (2015: €42.8 million)
- Underlying net result i adds 35% to €81.3 million (2015: €60.1 million)
- Client assets grow by 10% to €69.4 billion (year-end 2015: €63.0 billion)
- Capital base sharply up: CET I ratio ii comes in at 19.0% (year-end 2015: 16.3%)
- Significantly higher dividend proposed: €1.20 per share (2015: €0.45 per share)
's-Hertogenbosch, the Netherlands, 9 March 2017
Van Lanschot today released its 2016 annual figures. Karl Guha, Chairman, said: "We are grateful for the loyalty, trust and confidence that our clients place in us. 2016 was a good year for Van Lanschot despite low interest rates, major volatility and global political and social uncertainty. Bolstered by improving economic conditions, the quality of our loan portfolio was up, sparking a significant release from loan loss provisions. This, combined with our solid operational result, boosted our underlying net result to €81.3 million, enabling us to propose a significantly higher dividend of €1.20 per share. What is more, our financial foundations are rock-solid. We therefore reiterate our commitment to return at least €250 million to our shareholders by 2020, based on our current plans and currently known laws and regulations.
"We are well on track in implementing Strategy 2020 as presented in April 2016. The acquisition of Staalbankiers' private banking activities bolsters our market position in the Netherlands by adding a large group of new clients and commercial talent - a fine example of a bolt-on acquisition as part of our growth-driven strategy. Evi van Lanschot has grown into an independent activity that is free to grow in its own way, and by the end of the year it had bagged the Gold Bull ( Gouden Stier ) for best online asset manager. Kempen Capital Management landed several high-profile mandates and made progress in expanding its market reach in fiduciary and institutional asset management. Merchant Banking was particularly successful in the second half in its capacity as adviser to a number of major European transactions in its own niche markets. Key developments for the company as a whole were our strategic update, the secondary market offering of the Delta Lloyd stake and the integration of Van Lanschot and Kempen staff functions.
"When releasing our strategic update we announced our aim to invest in developing our omnichannel private banking model. Today, we are delighted to launch an innovative investment advice app, which will give our clients easy access to their own portfolios and their dedicated investment adviser. And today, we are announcing another key step by teaming up with Fidor, an innovative German fintech player, to outsource our payments activities - which we expect to result in state-of-the-art online and mobile payments for our clients next year.
"Our solid strategic progress also sees us well on course to achieving our 2020 financial targets. We have realised a full-2016 return on equity iii of 7.3%, a clear continuation of our upward trend. We are closely watching the development of our efficiency ratio, which came in at 80.3%. Our CET I ratio, finally, is comfortably ahead of our target range of 15-17%, at 19.0%."
FINANCIAL REPORT/ PRESENTATION/ WEBCAST For a detailed discussion of Van Lanschot's results and balance sheet, please refer to our 2016 financial report and presentation of our 2016 annual results at https://corporate.vanlanschot.nl/results.
In a conference call for analysts on 9 March at 9.00 am CET, we will discuss our 2016 figures in greater detail. This may be viewed live at https://corporate.vanlanschot.nl/results and played back at any later date.
Media Relations : +31 20 354 45 85; mediarelations@vanlanschot.com Investor Relations : +31 20 354 45 90; investorrelations@vanlanschot.com
Disclaimer and cautionary note on forward-looking statements
This document contains forward-looking statements on future events and developments. These forward-looking statements are based on the current information and assumptions of Van Lanschot's management about known and unknown risks and uncertainties. Forward-looking statements do not relate strictly to historical or current facts and are subject to such risks and uncertainties that by their very nature fall outside the control of Van Lanschot and its management.
Actual results may differ considerably as a result of risks and uncertainties relating to Van Lanschot's expectations regarding, but not limited to, estimates of income growth, costs, the macroeconomic and business climate, political and market trends, interest and exchange rates and behaviour of clients, competitors, investors and counterparties, actions taken by supervisory and regulatory authorities and private entities, and changes in the law and taxation. Van Lanschot cautions that expectations are only valid on the specific dates on which they are expressed, and accepts no responsibility or obligation to revise or update any information following new information or changes in policy, developments, expectations or other such factors.
The financial data in forward looking statements about future events included in this document have not been audited. This document does not constitute an offer or solicitation for the sale, purchase or acquisition in any other way or subscription to any financial instrument and is not an opinion or a recommendation to perform or refrain from performing any action.
Parts of this document may provide information about Van Lanschot N.V. and/or F. van Lanschot Bankiers N.V. as meant in Articles 7(1) up to and including (4) of EU Regulation 596/2014.
This document is a translation of the Dutch original and is provided as a courtesy only. In the event of any disparities, the Dutch version will prevail. No rights can be derived from the translated document.
Attachments:
