Van Lanschot Kempen reports 30% rise in first-half profit

Maarten Edixhoven, Chair 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.

"Assets under management (AuM) grew by 18% to €188.2 billion. Private Clients Netherlands recorded strong net inflows of €1.5 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 €0.2 billion and positive market performance.

"Investment Management Clients, which manages assets for pension funds among other clients, recorded net inflows of €17.8 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 €200 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 €88.2 million, compared with €67.8 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 €180–195 million to around €200 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. In Belgium, we further strengthened our organisation and Mercier Van Lanschot was named 'Best for High Net Worth’ at the Euromoney Private Banking Awards 2026.

"Alongside these investments in private banking, we also expanded our private markets offering, with total AuM in private markets solutions growing to €6.5 billion. In July, we secured $120 million in commitments from private banking clients for our second North American private equity fund. More than €180 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 €0.3 billion 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.

"As we continue to build scale and deepen our expertise, strong client relationships remain the foundation of our success. In June, we were recognised in the UK as ‘Fiduciary Manager of the Year’ at the UK Pensions Awards for the third year running. Satisfaction among our private banking clients in the Netherlands improved in the first half of the year, with Private Clients Netherlands' Net Promoter Score (NPS), which measures how likely these clients are to recommend us, rising to 45. Clients particularly value the combination of expert advice and personal conversations about their financial future. That is what sets us apart.

"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. Our approach was recognised for the second year running at the PWM Wealth Tech Awards 2026, part of the Financial Times. Van Lanschot Kempen received three awards, including ‘Best Digital Private Bank in the Netherlands’ and ‘Best Private Bank for Digital Innovation in Europe’.

"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 Center. 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.”

Performance report / presentation / conference call

For a detailed discussion of Van Lanschot Kempen’s results and balance sheet, please see our performance report and presentation on the 2026 half-year results at Financial results. In a conference call on 27 August at 9:00 am CEST, we will discuss our 2026 half-year results in greater detail. This can be followed live at Financial results and will be available for playback later.

Financial calendar

17 September 2026 - Extraordinary general meeting
30 October 2026 - Publication of third-quarter 2026 trading update
24 February 2027 - Publication of 2026 annual results

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