HERTOGENBOSCH, The Netherlands, Nov. 15, 2002 (PRIMEZONE) -- Van Lanschot NV expects to realise growth in net profit and earnings on ordinary activities per ordinary share of some 8% for the full-year 2002. The Bank is thus revising the expectation of a rise in earnings per ordinary share -- barring unforeseen circumstances -- of at least 12% for 2002 which it expressed on August 23, 2002 upon the publication of the half-year figures.
The increase in the number of target group accounts -- private individuals and family businesses -- continued to hold up well in the third quarter. The growth of the mortgage portfolio and insurance commission, too, remained steady. Securities commission, however, decreased further over the past months due to the continuing economic downturn and even more volatile international stock exchanges; these developments could not be foreseen when the 2002 half-year figures were published. Due to these unfavourable conditions, private and institutional investors effected fewer purchase and sales transactions, leading to lower commission income.
Van Lanschot does not expect the situation to improve in the remaining part of the year. The 2002 annual figures will be published on March 14, 2003.
F. van Lanschot Bankiers NV is the oldest independent Dutch bank with a history dating back to 1737. The bank focuses on three target groups: high net-worth individuals, medium-sized businesses (including family businesses) and institutional investors. Van Lanschot stands for high-quality services founded on integrated advice, personal service and customised solutions. Van Lanschot NV is listed on the Euronext Amsterdam Stock Market.