News and press releases

• Assets under Administration increased in Q 1 by 6% to €320 billion; the volume of transactions recovered slightly
• Turnover rose by 3% despite lagging interest income
• Total profit fell by 4% to €4.7 million (2012: €4.9 million). Both the low interest rate and the excess supply of cheap liquidity put pressure on the operating profit margins
• The central banks’ unchanged monetary policy of low interest rates combined with generous liquidity could put pressure on the 2013 goal for profit growth.
  

• Total profit increased in 2012 to €15.5 million (+52%), operating profit 7% higher
• Fees and commission income increased by 2%, Assets under Administration increased by over 10% to €303 billion
• Interest income 11% lower as a result of the historic low interest rates in the financial markets
• Continued cost containment, operating expenses 1% lower than in 2011
• Overall market position in Europe stronger as a result of the partnership with dwpbank and a successful approach to the Dutch institutional market
• Continued rise in client satisfaction, supported by industry recognition through winning various awards in 2012 (IT Innovation Award, European Custodian of the Year 2012)
• €0.64 per share will be proposed as dividend for 2012. This is equal to 60% of the total result for 2012
  

• Operational profit up 23%, total profit of EUR 11.9 million is 29% higher compared to the same period in 2011 
• Slight increase in operating revenues due to higher commission and slight decrease in interest income 
• Total costs almost the same as 3rd quarter 2011 and 3% lower than the previous quarter 
• Joint venture with dwpbank in the field of retail securities processing in September positively received by the market 
• Solvability (BIS ratio) remains strong at 21%
  

• KAS BANK N.V. and Deutsche WertpapierService Bank AG (dwpbank) signed a long term strategic partnership agreement to join forces in Europe; A 50/50 joint venture between the partners will be set up to establish a European securities processing platform for retail banking – starting in The Netherlands
• With this specialized securities processing platform KAS BANK and dwpbank will provide a solution for the currently fragmented and complex European securities infrastructure
• dwpbank will set up a branch in Amsterdam. Professional staff from KAS BANK will be moving to this branch in 2015, coinciding with the migration of KAS BANK’s processing volumes to dwpbank’s platform
• KAS BANK and dwpbank will strengthen their German wholesale services through a joint wholesale approach

• KAS BANK’s total net result is €4.9 million (Q1 2011: €5.4 million); The net operating profit in Q1 2012 is more than 25 percent higher than Q1 2011
• Total income has risen 18 percent compared to Q4 2011, partly due to higher commission income; Assets under Administration (AuA) increased 5 percent to €291 billion; total expenses decreased by 6 percent relative to Q4 2011
• Partnership with dwpbank on schedule, in both the Netherlands and Germany
• Non-operating result in Q1 2012 comes to €2.0 million and is chiefly attributable to the revaluation of a number of perpetual loans from banks. The proceeds of the planned sale of the shareholding in LCH.Clearnet will contribute €4.3 million net to the result in 2012.
• The BIS-ratio from 31 March is 20% (Q1 2011: 22%); The current A- rating was reaffirmed last week by Standard & Poor's
  

• A commercially and strategically successful year despite the negative effect of instable markets; the quality of operating income after deduction of individual items strongly improved compared with 2010
• Fall in profits due in particular to lower profits achieved on the investment portfolio, amortisation of goodwill and lower transaction volumes on the financial markets
• Revenue almost on a par with 2010, Assets under Administration up 5% in second half year despite lower markets
• Partnership with dwpbank on target; costs in Q4 up slightly due to non-recurring costs, total costs in 2011 nonetheless stable
• Solvency risen to 26% as at 31 December 2011. Surplus liquidity rose further in Q4 to an average of € 1.5 billion (Q4 2010: €1.1 billion)
• Proposed dividend of €0.50 which, at 71%, is in the middle of the external target range and underlines our confident outlook. Dividend yield for 2011 is therefore 5.8%.
  

• KAS BANK and dwpbank have established a partnership in principle to further develop the German, Netherlands and European securities services markets.
• dwpbank and KAS BANK will create a securities platform for the Dutch financial services sector, based on dwpbank’s technology and the securities services know how of KAS BANK; dwpbank plans to open a branch in Amsterdam by mid 2012
• KAS BANK and dwpbank will approach the institutional client base of dwpbank to offer Wholesale Value Added Services and jointly to further develop the German market

KAS BANK N.V. and Deutsche WertpapierService Bank AG (dwpbank) have reached agreement in principle on a partnership regarding retail and wholesale services. They have signed a Memorandum of Understanding (MoU). KAS BANK is market leader in the Netherlands in Wholesale Securities Services, dwpbank is market leader in Germany in Securities Services.

• At EUR 9.2 million, the total result for the first nine months of 2011 is 35 percent lower because of an unrealised decline in the value of the investment portfolio of approximately EUR 4 million; this decline in value is a direct result of unrest in the financial markets
• Operating income 4 percent higher than in 2010; further increase in interest income; total income up to and including the third quarter of 2011 marginally lower than the 2010 income
• Costs 4 percent lower relative to the second quarter of 2011 and slightly above the third quarter of 2010
• The change in market value of the total investment portfolio was on balance nil in 2011
• Solvency increased from 22 percent to 24 percent
  

• Modest fall in revenue and profit reflecting lower volumes and prices in a slightly improved interest environment
• Commission income Institutional Investors increased by 8%; positive response to new services for pension funds and investment companies
• Expenses again 3% lower
• Interim dividend held at €0.33
  

• In the most negative scenario covered by the European stress test, KAS BANK’s core tier 1 ratio was 19.0%, almost four times higher than the minimum 5.0% level required in the stress test. 
• As at year-end 2010, the baseline for the stress test, the core tier 1 ratio was 20.4% and the total capital ratio (BIS ratio) was 23.2%. 
• Investments with an Aaa–Aa3 credit rating account for 96% of the total investment portfolio. KAS BANK has no exposure to sovereign debt of the GIIPS countries (Greece, Ireland, Italy, Portugal and Spain).

• Total net profit for Q1 2011 of €5.4 million (Q1 2010: €5.6 million); profit up 28% from Q4 2010 and of better quality
• Revenue over 13% higher compared with Q4 2010
• Expenses over 6% lower compared with Q4 2010
• Sustained commercial growth, supported by innovative products such as the app for pension fund boards and stress testing for pension funds
  
  

• Interest income significantly reduced by low interest rates
• Stock exchange transaction volumes again lower
• Steady reduction in expenses continues
• Total net profit €14.2 million, down 22% compared with first nine months of 2009
• Capital ratio still strong, risk profile still low
  
  
  

• Total profit down 5% at €11.0 million, mainly due to sharply reduced interest income reflecting the very low interest rates
• Commission income stable despite lower transaction volumes and a further decline in income from securities lending
• Expenses continuing to fall, with operating expenses down 4% in H1 2010 compared with H2 2009
• Interim dividend maintained on €0.33 (H1 2009: €0.33) per KAS BANK ordinary share

• Tier-1 ratio of 20.7% in the most adverse scenario, more than triple the minimum level of 6.0%
• Sovereign debt exposure is limited to Germany and the Netherlands
• 95% of the investment portfolio consists of investments with a Aaa to Aa3 credit rating

Albert Röell, chairman of the KAS BANK Managing Board: "KAS BANK focuses exclusively on wholesale securities services. Therefore the bank has an inherently low risk profile, combined with stable operational results over several years and a consistent return. The outcome of the stress test confirms KAS BANK’s low risk profile, our strong and transparent balance sheet and the high quality of our investment portfolio. Our solid financial position corresponds with our A- long-term and A-2 short-term ratings that Standard & Poor’s reaffirmed in 2010.”

• Operating profit €4.4 million (Q1 2009: €4.4 million); total profit €5.6 million (Q1 2009: €4.4 million) 
• Total revenue unchanged despite pressure on commission and interest income; securities lending market recovering more slowly than expected 
• Assets under administration (AuA) up 21% compared with 1 January 2009 at around €250 billion 
• Expenses down 5% on Q4 2009

• Operating profit 12% higher at €21.0 million (2008: €18.8 million)
• Total profit €24.6 million (2008: €39.9 million negative), reflecting capital gains on investments and no impairment charges on loan portfolio
• Total income up 6%; operating income stable, helped by active interest-rate and investment policy
• Expenses in 2009 down around 3% compared with 2008
• Year-end 2009 BIS ratio 24% (2008: 18%) and Tier 1 ratio 21% (2008: 15%); risk-weighted assets over 20% lower, reflecting active risk management
• Visible equity 15% higher at €193 million
• Total dividend €0.73 (2008: €0.45), in line with external financial targets, equating to 61% of the operating profit less intangible assets relating to recent acquisition in Germany.
  

• KAS BANK maintains high capital ratio and strong liquidity position
• Revenue in Q3 2009 substantially higher than in Q3 2008
• Expenses at similar level to H1 2009 and slightly lower than Q3 2008
• Profit for first nine months of 2009 well above 2008 figure and on track to meet the bank’s external profit targets
  
  

• Profit excluding exceptional items down 20% at €18.8 million (2007: €23.6 million); operating performance as expected in very difficult market conditions
• Net profit €39.9 million negative, reflecting impairment losses
• BIS ratio increases to 18% as at 31 December 2008 (year-end 2007: 14%), with Tier 1 capital of 15% (year-end 2007: 13%)
  

• the full text of the press release (PDF in a new window)
• attached: Balance sheet and Income statement.

• Profit excluding exceptional items down 20% at €18.8 million (2007: € 23.6 million); operating performance as expected in very difficult market conditions
• Total profit €39.9 million negative, reflecting impairment losses on the bank’s loans and investment portfolio (including Lehman, Madoff and NYSE/Euronext)
• Revenue fractionally lower at €132.3 million (2007: €133.2 million)
• BIS ratio increases to 18% as at 31 December 2008 (year-end 2007: 14%), with Tier 1 ratio of 15% (year-end 2007: 13%)

• Despite a growth in client numbers, turnover is slightly decreased while profits are strongly lower as a result of the credit crisis
• Solvency and liquidity remain strong
• Additional impairment of € 6–8 million above the € 15 million announced previously
• Further measures taken to improve profitability

• Rising interest income and stable commission income generate 6% growth in revenue
• Profit excluding exceptional items €14.5 million (2007: €15.6 million), the product of reduced client activity, lower market prices and expenses in line with expectations
• Exceptional expense due to impairment loss of €5.0 million on shareholding in NYSE/Euronext (2007: +€13 million). No further impairment of the bond portfolio (2007: €1.1 million) expected in the current market conditions
• High BIS ratio of 16% as at 30 June (year-end 2007: 14%), reflecting strong focus on risk management
• Recently completed acquisition in Germany has strengthened our independent market position and will have a slight effect on our 2008 result

• Profit including exceptional items was over 90% higher at €50.9 million. Excluding exceptional items, profit was up 22% at €23.6 million.
• 15% client-driven income growth due to influx of new clients, cross-selling and increased transaction volumes.
• All financial targets were met; turbulence on financial markets had a very limited effect on KAS BANK.
• High 76% pay-out ratio underlines confidence in the future and KAS BANK’s strong financial position.

• the full text of the Press release (PDF in a new window)
  
• attached: Balance sheet and
• Income statement.

• Delta Lloyd Group notifies capital interest of 12.7% in KAS BANK
• Fortis sells its shareholdings in KAS BANK

• Business operations broadly contribute to solid growth in turnover
• Increased profits, not including exceptional items, of 33% to € 15.6 million. Including exceptional items, profits rise to € 42.3 million (+ 109%)
• All financial targets met with lower operating costs and a conservative risk profile
• Further strengthening of KAS BANK's independent position in wholesale securities services

• KAS BANK fully compliant with MiFID
• KAS BANK is General Clearing Participant of Chi-X

• Profit increase including income arising from sale of shareholdings to €26.6 million
• Lower results 2nd half of 2006 due to unfavourable interest rate structure and non-recurring reorganisation costs in the United Kingdom
• KAS BANK focuses entirely on European wholesale market following the announced transfer of non-wholesale activities
• High payout ratio of 78% underlines the confidence in the future and KAS BANK's strong financial position