Van Lanschot Kempen: MREL requirements equivalent to SREP requirements
Amsterdam/’s-Hertogenbosch, the Netherlands, 27 December 2022
The Dutch Central Bank (DNB) has set the MREL requirements (Minimum Requirement for own funds and Eligible Liabilities) for Van Lanschot Kempen. These MREL requirements, which determine the minimum amount of equity and liabilities a bank must have, apply from 1 January 2024. They are equal to the requirements at that moment in force under the Supervisory Review and Evaluation Process (SREP). The current SREP requirements are 5.7% for the CET 1 ratio, 8.6% for the Tier 1 ratio and 11.5% for the total capital ratio.
At the end of the third quarter, Van Lanschot Kempen’s CET 1 ratio was 19.2%. This is well above the current SREP requirements; and well above its own target of 15% plus an M&A add-on of 2.5% for acquisitions.
DNB has also determined that Van Lanschot Kempen will not be classified as a resolution institution. This applies with immediate effect.
Media Relations: +31 20 354 45 85; mediarelations@vanlanschotkempen.com
Investor Relations: +31 20 354 45 90; investorrelations@vanlanschotkempen.com
About Van Lanschot Kempen
Van Lanschot Kempen is a wealth manager active in Private Banking, Professional Solutions, Investment Management and Investment Banking, with the aim of preserving and creating wealth, in a sustainable way, for both its clients and the society of which it is part. As a sustainable wealth manager with a long-term focus, Van Lanschot Kempen proactively seeks to prevent negative impact for all stakeholders and to create positive long-term financial and non-financial value. Listed at Euronext Amsterdam, Van Lanschot Kempen is the Netherlands’ oldest independent financial services company, with a history dating back to 1737. To fully leverage the potential of the Van Lanschot Kempen organisation for its clients, it provides solutions that build on the knowledge and expertise across its entire group and on its open architecture platform. Van Lanschot Kempen is convinced that it is able to meet the needs of its clients in a sustainable way by offering them access to the full range of its products and services across all its businesses.
For more information, please visit vanlanschotkempen.com
Important legal information and cautionary note on forward-looking statements
This press release may contain forward-looking statements and targets on future events and developments. These forward-looking statements and targets are based on the current insights, information and assumptions of Van Lanschot Kempen’s management about known and unknown risks, developments and uncertainties. Forward-looking statements and targets do not relate strictly to historical or current facts and are subject to such risks, developments and uncertainties which by their very nature fall outside the control of Van Lanschot Kempen and its management. Actual results, performances and circumstances may differ considerably from these forward-looking statements and targets.
Van Lanschot Kempen cautions that forward-looking statements and targets in this press release are only valid on the specific dates on which they are expressed, and accepts no responsibility or obligation to revise or update any information, whether as a result of new information or for any other reason.
This press release does not constitute an offer or solicitation for the sale, purchase or acquisition in any other way or subscription to any financial instrument and is not a recommendation to perform or refrain from performing any action.
Elements of this press release contain information about Van Lanschot Kempen NV within the meaning of Article 7(1) to (4) of EU Regulation No. 596/2014.
This press release is a translation of the Dutch language original and is provided as a courtesy only. In the event of any disparities, the Dutch language version will prevail. No rights can be derived from any translation thereof.
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