AuA at Kas Bank Increase by 4% in Q3

Kas Bank grew its assets under administration by 4% in the third quarter to €320 billion.
By Janet Du Chenne(59204)
Kas Bank grew its assets under administration by 4% in the third quarter to €320 billion.

The bank attributes this increase to the gradual growth in turnover in the institutional market, which is continuing.

Profits increased by 7% to € 11.7 million, though the third quarter was a relatively weak quarter in terms of result. The interest income lagged approximately 20% behind 2012, in line with expectations.

Income from securities lending was lower than in the same period in 2012 as a result of the surplus of cheap liquidity.

Partly as a result of the Alternative Investment Fund Managers Directive (AIFMD) taking effect in mid-2014, the order portfolio for 2014 is well filled, says Kas. Kas is preparing pension funds, asset managers, banks and other parties with the implementation of European Market Infrastructure Regulation (EMIR). This has also contributed to growth to a limited extent.

«