Bankhaus Lampe achieves annual net profit of € 4.3 million despite pandemic-related market distortions
- Assets under management maintained, net interest income increased
- Administrative expenditure again significantly reduced
- Planned merger with Hauck & Aufhäuser Privatbankiers is subject to approval by the regulatory authorities
Düsseldorf, 20. April 2021
The Bankhaus Lampe Group ended the 2020 financial year with a net annual profit of € 4.3 million (2019: € 14.6 million). The core capital ratio was at 15.38 % as of December 31, 2020, well above the regulatory requirements (previous year 15.13 %). In a challenging market environment as a result of the COVID-19 pandemic, Bankhaus Lampe also succeeded to keep assets under management stable at € 20.1 billion (2019: € 20.3 billion).
The net interest income was increased in 2020 to € 41.6 million (2019: € 37.4 million). Furthermore, it was possible to reduce the administration expenditure (2020: € 129.2 million) as compared to the previous year, despite additional pandemic-related expenses for protective measures and operational stability (2019: € 138.9 million).
The effects of the COVID-19 pandemic and the corresponding turbulences on financial markets have influenced the commission income of Bankhaus Lampe in 2020 significantly. With an amount of € 65.3 million, net commission income was considerably lower than last year (2019: € 82.8 million). The decision to close the unit Equities has contributed essentially to this decrease. “The year 2020 was exceptional for us as well as for our clients. The global COVID-19 pandemic had a major impact on social and economic life and thus on Bankhaus Lampe. Especially in view of these circumstances the positive annual result is remarkable”, stated Klemens Breuer, Spokesman for the General Partners of Bankhaus Lampe KG. “Once again, we succeeded to reduce the administrative expenditure year over year substantially. At the same time, we remained by our clients’ side at all times, despite the COVID-19 pandemic. We have set the course for an even more efficient service offer for our customers with the planned merger with Hauck & Aufhäuser”, Klemens Breuer adds.
Client deposits represent 79 % (previous year: 78 %) of the total assets and are the most relevant source of the Bank’s refinancing. In a comparison of year-end figures, total assets rose to € 3.86 billion (2019: €3.33 billion) and is underpinned by shareholders’ equity of € 333 million including accumulated profit. The continuously very foresighted credit lending has not burdened the risk result of the bank in 2020.
The proposed merger of Bankhaus Lampe and Hauck & Aufhäuser Privatbankiers is subject to approval by the regulatory authorities.
Bankhaus Lampe Group: Overview of Business Performance
|In million euros||2020||(2019)|
|Loans and advances to clients||1,743||(1,683)|
|Loans and advances to banks||229||(225)|
|Liabilities to banks||141||(148)|
|Equity (including group net income for the year)||333||(330)|
|Net interest income (incl. current income)||42||(37)|
|Net commission income||65||(83)|
|Net income from proprietary trading||6.5||(2)|
|Group net income||4||(14)|
|Return on equity (RoE)||1.4||(4.4)|
|Assets under management (in billion euros)||20.1||(20.3)|
The 2020 annual report is available online: