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 14 March 2003.
's-Hertogenbosch, 15 November 2002