Continued growth in Q3 for KAS Bank 30 October 2014Amsterdam Reporter: Stephanie Palmer
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KAS Bank has announced a 7 percent growth in commission revenue from asset services, attributed partly to new custodial functions to help with Alternative Investment Fund Manager Directive regulations.
In their Q3 results, KAS Bank also announced €385 billion in assets under administration, a 7 percent increase on last year’s figure.
The Dutch security services firm saw a year-to-date turnover of €98 million, and a profit of €23.9 million, while costs were down 10 percent on the same period in 2013.
KAS Bank puts its success down to low interest rates in the Netherlands and Germany, and an incentive to seek alternative investment opportunities.
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