Van Lanschot Kempen first-quarter trading update 2026

07 May 2026 07:00 CEST

Highlights

• Strong growth with net AuM inflows of €17.3 billion (Private Clients Netherlands: €0.9 billion, Private Clients Belgium: €0.2 billion, Investment Management Clients: €16.2 billion)
• Client assets increased to €195.6 billion (2025: €180.0 billion) and AuM rose to €175.2 billion (2025: €158.9 billion)
• First-quarter net profit in line with the fourth quarter of 2025
• Strong CET1 ratio of 17.1% (2025: 18.2%), including the effect of the planned capital return of €0.80 per share 

Jeroen Kroes, Chief Financial Officer, said: “Van Lanschot Kempen achieved strong growth through net inflows in Assets under Management (AuM) in the first quarter, against a backdrop of increasing geopolitical unrest and volatile market sentiment. After a strong start of the year, the conflict in the Middle East sparked sharp market movements in March, leading to negative equity market performance. This made private banking clients more cautious about increasing equity positions, while new clients tended to opt for more gradual market entry. In these circumstances, clients are seeking guidance, and we’re helping them navigate the markets with a long-term perspective. We remain focused on our clients and on scalable growth with a personal and efficient approach supported by the targeted use of AI, in line with our ‘Growing further together’ strategy.” 

In the first quarter, Private Clients Netherlands recorded net AuM inflows of €0.9 billion (Q1 2025: €1.2 billion). In the first months of the year, clients converted part of their savings into investments, resulting in a net decrease in savings of €0.5 billion. Net AuM inflows at Private Clients Belgium amounted to €0.2 billion (Q1 2025: €0.5 billion). 

Within Investment Management Clients, net AuM inflows were strong at €16.2 billion (Q1 2025: €2.5 billion). This was mainly driven by the mandate of Stichting Pensioenfonds voor de Woningcorporaties within fiduciary management. In addition, both liquid and alternative investment strategies recorded net inflows. 

Commission income rose, driven by growth in clients and AuM. Interest income was in line with expectations and, for the full year 2026, net interest income is expected to amount to €180-195 million. With costs remaining well controlled, Van Lanschot Kempen achieved a solid result in line with the previous quarter. 

Van Lanschot Kempen’s capital position remains strong with a CET1 ratio of 17.1% (2025: 18.2%) according to the “Basel IV fully loaded” definition. The decrease from year-end was driven by the effect of the planned capital return of €0.80 per share¹ (0.7 percentage points), growth in the loan book (0.2 percentage points) and a temporary effect (0.2 percentage points) due to the repurchase of own shares to cover the depositary receipts to be allocated to employees under the existing remuneration policy. The distribution of these shares in the second quarter will, once again, have a positive effect on the CET1 ratio. 

On 24 April 2026, De Nederlandsche Bank announced that the minimum risk-weight floor for mortgages will be discontinued after 30 November 2026. As at 31 March 2026, this minimum floor had a negative impact of approximately 1.5 percentage points on the CET1 ratio.  

¹The capital return was approved by shareholders at the extraordinary general meeting held on 9 April 2026, with payment scheduled for 25 June 2026.
 

Financial calendar 

21 May 2026 - Annual general meeting (AGM) 
25 May 2026 - Ex-dividend date 
3 June 2026 - 2025 dividend payment date 
23 June 2026 - Ex-capital return date 
25 June 2026 - Capital return payment date 
27 August 2026 - Publication of 2026 half-year results 
30 October 2026 - Publication of third-quarter 2026 trading update