Van Lanschot Kempen : 1H21 results better than expected, solvency somewhat less
>Conclusion: 1H21 earnings better by good commission income - The 1H21 results were better than expected by strong net commission income only partly mitigated by higher expenses, but the bottom line was better than expeced. The solvency was somewhat less. In total better results. Outperform. H1 profits better than expected - The 1H21 net profit before minorities was € 58.3m vs our € 49.5m (consensus € 40.9m; only two brokers in consensus of which we a...Van Lanschot is the holding company of F. van Lanschot Bankiers NV in the Netherlands. Co.'s services focus on high net-worth individuals and entrepreneurs. Co. also, through it's subsidiary Kempen & Co., also serves the institutional market and offers investment services. Co.'s services are organized into five business segments: Private Banking, Asset Management, Business Banking, Corporate Finance and Securities and other activities. Other Activities include activities relating to the management of interest rate, market and liquidity risk.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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