Van Lanschot Kempen grows AUM 18% as private banking expands

Van Lanschot Kempen reported a 30% rise in first-half profit to EUR 88.2 million ($102.2 million) as assets under management (AUM) reached EUR 188.2 billion ($ 217.9 billion), supported by private-client inflows, institutional mandates and continued expansion of private markets offerings.

The firm recorded EUR 19.5 billion ($22.6 billion) in net inflows into AUM, comprising EUR 1.5 billion ($1.7 billion) from Private Clients Netherlands, EUR 0.2 billion ($0.2 billion) from Private Clients Belgium and EUR 17.8 billion ($20.6 billion) from Investment Management Clients.

AUM increased 18% to EUR 188.2 billion ($217.9 billion), while client assets rose 16% to EUR 209.1 billion ($242.2 billion). Net profit increased 30% to EUR 88.2 million ($102.2 million), with commission income rising 10% to EUR 306.9 million ($355.4 million) and interest income increasing 27% to EUR 96.9 million ($112.2 million). The cost/income ratio improved to 66.4% as the firm focused on scalable growth, while its capital position remained strong with a CET1 ratio of 17.0%.

Maarten Edixhoven, Chairman of the Management Board, said: “In the first half of the year, we delivered strong results through the successful execution of our strategy. New and existing clients entrusted us with significantly more of their wealth, both in private banking and in fiduciary management for pension funds. To us, this confirms that clients value our personal approach, expertise and long-term focus. We achieved scalable growth, as demonstrated by our improved cost/income ratio.

"In the second quarter, financial markets recovered from the sharp movements seen in March, despite continuing geopolitical uncertainty.

"AUM grew by 18% to EUR 188.2 billion ($217.9 billion). Private Clients Netherlands recorded strong net inflows of EUR 1.5 billion ($1.7 billion) and positive market performance, resulting in 12% growth in AUM compared with year-end 2025. Around two-thirds of the net inflows were driven by investments from new clients. In Belgium, AUM grew by 6%, supported by net inflows of EUR 0.2 billion ($0.2 billion) and positive market performance.

"Investment Management Clients, which manages assets for pension funds among other clients, recorded net inflows of EUR 17.8 billion ($20.6 billion). In the first half of the year, Dutch pension funds Stichting Pensioenfonds voor de Woningcorporaties and Stichting Pensioenfonds Haskoning Nederland selected Van Lanschot Kempen as their fiduciary manager.

"As a result, our total client assets exceeded EUR 200 billion ($231.6 billion) for the first time. This is an important milestone for Van Lanschot Kempen, and a sign that more clients are choosing us to help preserve and grow their wealth.

"Net profit rose by 30% to EUR 88.2 million ($102.2 million), compared with EUR 67.8 million ($78.5 million) in the same period last year. This was mainly due to growth in commission income (+10%) and interest income (+27%). Based on current market conditions, we are raising our full-year interest income guidance from EUR 180 million to EUR 195 million ($208.5 million to $226.0 million) to around EUR 200 million ($231.6 million). Disciplined execution of our strategy improved our cost/income ratio to 66.4%, from 71.8% a year earlier. This shows that we are combining growth with an increasingly efficient organisation.

"Over the past six months, we have continued to deliver on our ‘Growing further together’ strategy. This centres on generating scalable, profitable and sustainable long-term growth while maintaining a capital-light balance sheet. We have turned this strategic focus into action through a range of initiatives.

"Within Private Clients Netherlands, we are increasingly supporting clients with a combination of investing and financing. This is reflected in the growth of our loan portfolio. In the first half of the year, we further developed our wealth management lending product to meet growing client demand. 

"Alongside these investments in private banking, we also expanded our private markets offering, with total AUM in private markets solutions growing to EUR 6.5 billion ($7.5 billion). In July, we secured $120 million in commitments from private banking clients for our second North American private equity fund. More than EUR 180 million ($208.5 million) was also committed to our new fund investing in existing private equity portfolios, known as secondaries. Since 2018, we have introduced six private equity funds. These funds give clients access to investments that were previously often available only to institutional investors. Our liquid investment strategies also saw positive momentum, with net inflows of EUR 0.3 billion ($347.5 million) in the first half of the year. To accelerate this growth, we are exploring potential strategic partnerships for these liquid investment strategies.

"The planned joint venture with KBC Securities for our equities activities remains on track to launch in the fourth quarter. This partnership will give clients access to broader Benelux equities research, pan-European expertise in real estate and life sciences, and improved trading liquidity. It will also broaden our reach among investors for transactions including equity offerings.

"We continue to broaden the use of technology to further strengthen our client service. By organising routine work more intelligently, we create more time for personal contact and value-adding advice. That's why private bankers and colleagues from our digital teams are working together closely on AI-enabled tools that help us serve clients even better.

"In the second half of the year, we will further invest in growth and in our service to clients. I'm particularly looking forward to the opening of our new Amsterdam office in the fully renovated Breitner Centre. At the end of this year, we will welcome clients and colleagues there in a modern, personal environment that meets the highest sustainability standards.

"Our results put us firmly on track to achieve our 2027 financial targets. More importantly, we are continuing to build an independent specialist wealth manager that grows and innovates while remaining firmly focused on our clients and the society around us. Our progress is only possible because of the trust of our clients and the commitment of our colleagues. I would like to sincerely thank them for that.”

 Re-disseminated by Wealth and Society