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Van Lanschot Kempen N.V
Earnings Release • Oct 28, 2025
3892_rns_2025-10-28_cf92e54b-8b7a-4a7b-a449-47c8db03a2d1.pdf
Earnings Release
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Press release
Van Lanschot Kempen: third-quarter trading update 2025
Amsterdam/'s-Hertogenbosch, the Netherlands, 28 October 2025
- Strong third-quarter net profit, higher than the first two quarters
- Net AuM inflow of €5.1 billion in the first nine months, of which Private Clients Netherlands: €1.8 billion, Private Clients Belgium: €1.4 billion, and Investment Management Clients: €1.8 billion
- Client assets and AuM rose by 3% to €173.3 billion and €154.1 billion, respectively, compared with the end of 2024
- CET1 ratio ("Basel IV fully loaded") of 18.1% (end of June 2025: 18.2%)
Jeroen Kroes, Chief Financial Officer, said: "Van Lanschot Kempen achieved a strong net result in the third quarter, with solid commission income. Interest income improved compared with the previous quarter, in line with our expectations. Commercial momentum continued and assets under management (AuM) grew to €154 billion.
"In the third quarter, equity markets were less volatile than in the first six months of the year and market performance for our clients was positive. In both the Netherlands and Belgium, new and existing clients entrusted us with more of their assets. This resulted in net AuM inflow in the third quarter of €0.2 billion at Private Clients Netherlands and €0.4 billion at Private Clients Belgium. Client satisfaction remained high, as shown in the Relationship NPS of 42 in the Netherlands. As in previous years, we expect a limited shift from AuM to savings at Private Clients Netherlands towards the end of the year. Typically, these savings are reinvested at the beginning of the new year.
"At Investment Management Clients, several UK-based pension funds chose our fiduciary services. This will result in nearly £3.0 billion of AuM inflow in the fourth quarter. In the third quarter, we recorded modest net outflows of €0.1 billion. We continue to work actively on innovation and optimisation of our investment offering. For example, we've entered into a strategic partnership with State Street Investment Management. This enables us to offer a broader platform of specialist, active investment strategies, such as active ETF products, and to further strengthen our solutions for fiduciary clients across Europe.
"At Investment Banking Clients, we supported three key ECM transactions in the life sciences sector in the third quarter, acting as joint bookrunner twice. These raised \$1.3 billion for three European biotech companies listed on the US Nasdaq."
Van Lanschot Kempen's CET1 ratio ("Basel IV fully loaded") amounts to 18.1%. The announced acquisition of Wilton Family Office is expected to have a negative impact of approximately a quarter of a percentage point on the CET1 ratio and to be completed before the end of the year.
It remains Van Lanschot Kempen's intention to return to shareholders the portion of capital that exceeds the targeted 17.5% CET1 ratio ("Basel IV fully loaded"), if the expected CET1 ratio clearly exceeds this target by year-end. Both the dividend for 2025 and a possible capital return will be announced at the same time as the annual results for 2025.
Client assets
| € billion | 30/09/2025 | 30/06/2025 | 31/12/2024 | ||
|---|---|---|---|---|---|
| Client assets | 173.3 | 169.1 | 2% | 167.6 | 3% |
| - Assets under management | 154.1 | 150.6 | 2% | 149.3 | 3% |
| - Assets under administration | 6.7 | 6.3 | 8% | 5.5 | 22% |
| - Savings and deposits | 12.4 | 12.3 | 1% | 12.8 | -3% |
Changes in assets under management
| € billion | 9M 2025 | H1 2025 | FY 2024 |
|---|---|---|---|
| Private Clients Netherlands | |||
| - Net inflow | 1.8 | 1.7 | 2.1 |
| - Market performance | 1.1 | -0.5 | 4.8 |
| Private Clients Belgium | |||
| - Net inflow | 1.4 | 1.0 | 2.2 |
| - Market performance | 0.3 | -0.2 | 1.2 |
| - Assets under management from acquisitions | — | — | 0.7 |
| Investment Management Clients | |||
| - Net inflow | 1.8 | 1.9 | 4.9 |
| - Market performance | -1.8 | -2.6 | 6.1 |
Financial calendar
26 February 2026 Publication of 2025 annual results
Media Relations Maud van Gaal T +31 20 354 45 85
Investor Relations Judith van Tol T +31 20 354 45 90
About Van Lanschot Kempen
Van Lanschot Kempen is an independent, specialist wealth manager active in private banking, investment management and investment banking, with the aim of preserving and creating wealth, in a sustainable way, for both its clients and the society of which it is part. Through our long-term focus, we create positive financial and non-financial value. Listed at Euronext Amsterdam, Van Lanschot Kempen is the Netherlands' oldest independent financial services company, with a history dating back to 1737.
For more information, please visit: vanlanschotkempen.com.
Important legal information
This press release may contain forward-looking statements and targets on future events and developments. These forward-looking statements and targets are based on the current insights, information and assumptions of Van Lanschot Kempen's management about known and unknown risks, developments and uncertainties. Forward-looking statements and targets do not relate strictly to historical or current facts and are subject to such risks, developments and uncertainties which by their very nature fall outside the control of Van Lanschot Kempen and its management. Actual results, performances and circumstances may differ considerably from these forward-looking statements and targets.
Van Lanschot Kempen cautions that forward-looking statements and targets made by or on behalf of Van Lanschot Kempen in this press release are only valid on the specific dates on which they are expressed, and Van Lanschot Kempen accepts no responsibility or obligation to revise or update any information, whether as a result of new information or for any other reason.
Van Lanschot Kempen's quarterly accounts are prepared in accordance with International Financial Reporting Standards, as adopted by the European Union ("IFRS-EU"). In preparing the financial information in this press release, except as described otherwise, the same accounting principles are applied as in the 2024 Van Lanschot Kempen consolidated annual accounts. The figures in this press release have not been audited. Small differences are possible in the tables due to rounding. Percentages are calculated based on unrounded figures.
This press release 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 a recommendation to perform or refrain from performing any action. Elements of this press release contain information about Van Lanschot Kempen NV within the meaning of Article 7(1) to (4) of EU Regulation No. 596/2014.
This press release is a translation of the Dutch language original and is provided as a courtesy only. In the event of any disparities, the Dutch language version will prevail. No rights can be derived from any translation thereof.