VAN LANSCHOT : trading update: provisional annual results 2009

  * Recovery in income that began in Q2 2009 continued in the second half of the
    year
  * Net profit for the second half of 2009 of approximately EUR 31 million (H1
    2009: net loss of EUR 46.3 million)
  * Solid funding ratio of over 78% at 31 December 2009
  * Impact of recession still being felt: addition to loan loss provision in
    2009 of around 79 basis points of the risk weighted assets
  * Provision of EUR 7.6 million formed in Q4 for the bank's obligations under the
    deposit guarantee scheme in connection with the bankruptcy of DSB Bank


Floris Deckers, Chairman of the Board of Managing Directors of Van Lanschot:
"2009 was an exceptional and turbulent year for banks. As a private bank, we are
increasingly gearing our services to high net-worth individuals and the
entrepreneur and his business. Van Lanschot came through the banking crisis
based on its own strength, showing a recovery of the operating results as from
the second quarter of 2009. Following a net loss in the first half of the year,
the bank posted a net profit in the second half year. For the full year 2009, a
limited net loss was reported. Excluding the one-off items for write-offs on the
IT project and the provision for DSB, net profit for 2009 totalled approximately
EUR 20 million."

As an independent private bank, Van Lanschot uses its balance sheet solely for
client-related activities. The bank's capital base remained solid, with a BIS
total capital ratio of nearly 12% at year-end 2009. Van Lanschot financed its
loans and advances largely from the funds entrusted by its clients. At 31
December 2009, the bank had a funding ratio of over 78%.

Early in 2009 the banking crisis evolved into a recession, resulting in a higher
provision for loan losses. The addition to the loan loss provision for the full
year reached a high level for Van Lanschot; it totalled approximately
EUR 113 million for 2009, i.e. approximately 79 basis points of risk weighted
assets (2008: 15 basis points).

Income recovery continues
Initially, the financial crisis and the resulting recession had a major impact
on the level of the bank's income. However, a steady recovery in income set in
in the second quarter of 2009. The items securities & associates and profit on
financial transactions made a good contribution to total income in 2009.Assets
under management were up by 19% to approximately EUR 29 billion.

At the beginning of 2009, the bank announced several cost control and efficiency
measures, leading among other things to around a 9% reduction in the workforce,
bringing it to 2,050 FTEs at the end of 2009. The full impact of these measures
will become visible in the bank's operating expenses from 2010.

In August 2009, Van Lanschot acquired all shares in Robein Leven from the
existing shareholder. Robein Leven's results are fully consolidated in the
bank's figures. The interest in Robein Leven made a positive contribution
towards Van Lanschot's results in the second half of 2009. De bank still intends
to dispose of its interest in Robein Leven in due course.

In the fourth quarter, Van Lanschot formed a provision of EUR 7.6 million for its
obligations under the deposit guarantee scheme in connection with the bankruptcy
of DSB Bank. The amount of the provision is influenced by the fact that Van
Lanschot has many clients with savings balances exceeding the EUR 100,000 limit
for the deposit guarantee scheme.

The recovery in operating results led to a net profit for the second half of the
year of approximately EUR 31 million. On balance, the bank reported a net loss of
approximately EUR 15 million for the full year 2009 (2008: net profit of EUR 30.1
million).

Publication of 2009 full-year results
Van Lanschot will publish its full annual figures for 2009 on 12 March 2010
before market opening.

's-Hertogenbosch, the Netherlands, 26 January 2010

Van Lanschot Media Relations: Etienne te Brake, Corporate Communication
spokesperson
Telephone [phone]; mobile [phone];
[e-mail] 

Van Lanschot Investor Relations: Geraldine Bakker-Grier, Investor Relations
Manager
Telephone [phone]; mobile [phone];
[e-mail] 

Van Lanschot NV is the holding company of F. van Lanschot Bankiers NV, the
oldest independent bank in the Netherlands with a history dating back to 1737.
Van Lanschot 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.

The press release can be downloaded from the following link:


[HUG#1376985]





    Press release (PDF): http://hugin.info/133415/R/1376985/338109.pdf