Van Lanschot Kempen : Good 1H21 results by good markets and no defaults
>Conclusion: A good 1H21 as it is less depended on NII than peers - For 1H21, we expect Van Lanschot Kempen (VLK) to report a good net profit of € 49.5m (2H20 € 43m). This improved result is supported by rising net commission income, rising other income due to revaluation of investments and lower wind-down expenses of the structured notes, and continuing good cost control and basically no loan impairments. For end-1H21, we estimate a CET1 ratio of 23.5%. We forecast t...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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