BHF Kleinwort Benson Group, a Belgium-based financial services group, has registered an adjusted operating loss of EUR11.6m for the nine months ended 30 September 2015, compared to an adjusted operating loss of EUR9.8m a year ago.
The group posted an operating profit of EUR5.2m for the period, compared to an operating loss of EUR20.2m a year ago.
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Operating income for the first nine months of 2015 was EUR261m, an increase of 2% compared to EUR256.2m a year ago. This included unrealized fair value losses of EUR13m from widening credit spreads.
The group’s assets under management (AuM) stood at EUR55.8bn at 30 September 2015, up 3% from EUR54.2bn at the end of December 2014 with net new money of EUR1.2bn. AuM increased by EUR2.5bn or 5% year on year.
Operating expenses dipped by EUR1m year-on-year after excluding the foreign n exchange translation impact of EUR8m.
During this period, the group’s consolidated net asset value was EUR793 million or eur6 per share and remains broadly flat compared to the end of 2014. Tier 1 capital ratio at 30 September 2015 was 16%.
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