Chairman of the Board Baeten at the New Year's reception
Van Lanschot NV will realise an 8% growth in operating profit after taxation and in earnings on ordinary activities per ordinary share for 2002. This confirms the Bank's earlier statement of 15 November 2002.
"In spite of the continuing economic downturn and the uncertain situation in the financial markets, Van Lanschot managed to realise another rise in the number of private and corporate target group accounts in 2002", said Harry Baeten, chairman of the Board of Managing Directors at the New Year's reception for staff held on Friday 10 January 2003 in
's-Hertogenbosch. Thanks to the higher lending to target group accounts, interest income was again up, partly as a result of the growth of the mortgage portfolio and increased services provided to family businesses. Commission income was down, as private and institutional investors effected fewer securities transactions."
's-Hertogenbosch. Thanks to the higher lending to target group accounts, interest income was again up, partly as a result of the growth of the mortgage portfolio and increased services provided to family businesses. Commission income was down, as private and institutional investors effected fewer securities transactions."
"We expect to realise an 8% growth in operating profit after taxation and in earnings on ordinary activities per ordinary share for the whole of 2002. This means that we are doing very well, given the present market conditions. It confirms the strength of the Bank's strategy, the main elements of which are a focus on target group accounts, independence and our own identity", said Mr Baeten.
Van Lanschot will publish its results for 2002 on Friday 14 March 2003 (before the opening of the stock exchange). The press conference and the presentation for analysts will be held in the Auditorium of the Van Lanschot Tower in 's-Hertogenbosch.
's-Hertogenbosch, 10 January 2003
