Van Lanschot Kempen: Dutch private banker lifts client assets to €207.1bn, up 15%
The Dutch private banking and asset management group published a business update on 2026-10-30 showing client assets at €207.1bn, up 15% compared with end-2025. Net inflows, not market effects alone, are driving this growth.
According to the group, third-quarter net profit exceeded those of the two previous quarters, driven by higher interest income and commission income. The CET1 ratio stands at 17.1%, and a transfer of €26bn of assets from Aegon Asset Management has been announced.
Net inflows of €20.8bn, with €18.6bn driven by institutional clients
Over the first nine months of 2026, the bulk of net inflows came from the Investment Management Clients division, dedicated to institutional clients, with €18.6bn. Private banking in the Netherlands raised €2.1bn, and private banking in Belgium raised €0.1bn.
In the third quarter alone, Private Clients Netherlands recorded net inflows of €0.6bn, from both new and existing clients. Belgium recorded net outflows of €0.1bn over the same period, after positive inflows over the nine-month period.
The institutional division raised €0.8bn in the third quarter. These inflows come from liquid investment strategies, private markets solutions and fiduciary management.
Assets under management at €186.7bn and interest income in line with guidance
Assets under management rose 17% since end-2025, to €186.7bn. Chief Financial Officer Jeroen Kroes attributes this development to clients entrusting a larger share of their wealth to the group, which also supported the increase in commission income.
Interest income increased in line with previously communicated guidance, which projects approximately €200m for the full year. According to the group, this combination explains why quarterly net profit was higher than in both the first and second quarters.
The quarter was marked by rising energy prices and interest rates. European equities were more affected than US equities by the rise in oil prices, and higher rates weighed on long-dated bonds.
These developments were partly reflected in the group's market performance, the press release states. For a manager whose revenues partly depend on the level of assets under management, net inflows thus constitute a distinct driver alongside market effects.
Aegon AM: €26bn of assets to be integrated between end-2027 and mid-2028
Earlier this month, the group announced the transfer of the fiduciary management activities of Aegon Asset Management, representing €26bn of assets as at 30 June 2026. The transition of clients and activities will take place in stages, from the third quarter of 2027 to mid-2028.
The collaboration is also expanding: Aegon Asset Management will become Van Lanschot Kempen's strategic partner in alternative fixed income securities.
In investment banking, preparations for the joint venture with KBC Securities, whose launch is planned before the end of the year, are progressing on schedule. The partnership is expected to broaden equity research coverage in the Benelux, bring pan-European expertise in real estate and life sciences, and increase trading liquidity.
The CET1 ratio reached 17.1% at the end of the third quarter, compared with 17.0% at 30 June 2026, based on the fully applied Basel IV definition. The group will hold an extraordinary general meeting on 30 November 2026 and will publish its 2026 annual results on 24 February 2027.
Once the transition is complete, the €26bn of Aegon Asset Management assets are expected to be added to assets under management, which stood at €186.7bn at the end of the third quarter.
