Van Lanschot Kempen : H2 results somewhat light, PB doing well, excess capital 33% of market cap
>Conclusion: - The 2H20 bottom line earnings were higher than expected by non-recurring items. The recurring revenues were marginally less than we expected, mitigated by good cost control. Operationally it is good to see that the private banking franchise is having the best inflow in more than 10 years. End 2020 the Solvency position was in line with expectations at a good level showing that VLK has circa € 300m excess capital being 33% of its market capitalisation. 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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