Capital - Kleinwort Benson has one of the best tier one ratios in the industry - Our tier one capital ratio is over 20%, which is significantly in excess of normal banking regulatory requirements and well above those of our competitors. In addition, RHJI is a strong parent with equity at GBP 820 million, whereof GBP 342.5 million is in cash.
Liquidity - As part of our ongoing commitment to provide security and peace of mind to our clients, we have compiled rigorous liquidity stress tests including in-depth analysis of worst case scenarios. Based on the current business plan and clearly defined mitigating actions, we are confident that we remain well placed to deal with any market downturn
Loan Book - Our loan book continues to be conservatively managed and our default rates are well below industry averages. Kleinwort Benson employs a conservative business plan whereby we continue to fund our loan book from the receipt of deposits only. This allows Kleinwort Benson to avoid reliance on the inter bank market and other financial institutions. Indeed, with the additional RHJI assets, the loan books in the Channel Islands and the UK will be covered in their entirety - an enviable situation which is extraordinary in the banking industry
Credit Rating - Moody’s Investors Service assigned Baa2 long and short term deposit ratings and a bank financial strength rating (BFSR) of C- to the two private banking entities in the Kleinwort Benson Group: the UK-based Kleinwort Benson Private Bank Ltd and the Channel Islands based Kleinwort Benson (Channel Islands) Ltd. The outlook for all ratings is stable.
- Robust and scalable platform
- Strong brand with British heritage
- Cornerstone of the newly created financial services organisation*
- Simple and strong balance sheet
- Strong brand with significant industry recognition
- Strong product proposition
- Strong performance across our proprietary funds
- Enterprise, integrity, agility, expertise and passion
- Our vision is to become the leading, independent provider of UK and offshore financial services
“We are very pleased to announce this acquisition as a further step in the transformation of RHJI into a dynamic financial services group. They are an ideal complementary addition to our financial services platform, leveraging the Kleinwort Benson brand."
Leonhard Fischer, Chief Executive Officer of RHJI
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* RHJI has acquired Kleinwort Benson with the intention of transforming it into the exclusive holding company for all RHJI independent financial services business. By revitalising parts of KB’s heritage and developing our core capabilities, RHJI plans to rebuild the merchant banking business within the UK and beyond.