2012, A Difficult Year For Van Lanschot

Sally Ling

11 March 2013

Van Lanschot, the Dutch private banking group, posted an underlying profit of €2 million (around $2.6 million) in 2102. However, previously announced impairment on goodwill (€121.7 million net, non-cash) and non-recurring charges (€5.7 million net) led to a negative net result of €155.4 million for the year.

The bank saw its total client assets increase by 5 per cent during the year, to €52.3 billion. It reports that a strong inflow of institutional assets was offset by a reduction in private and business client assets.

“Van Lanschot has taken a number of key measures to maintain its solid position and to ensure the bank remains profitable in future. The investment and cost reduction programme has already started to deliver ...The loan portfolio underwent a thorough review, with the necessary provisions being formed, in keeping with our prudent strategy,” Karl Guha, chief executive of Van Lanschot, said in a statement.

The bank is undertaking a strategic review the results of which will be presented in May at the latest.