Van Lanschot Kempen: third-quarter trading update 2025

28 Oct 2025 07:00 CET

Highlights

• 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. 
 

Financial calendar

26 February 2026 - Publication of 2025 full-year results 
 

Please find the full press release under the ‘Download’ section for more information.