Van Lanschot Kempen : 2H23 profit was marginally less, better FY24 NII outlook, good net inflows
>Conclusion: 2H23 profit marginally less, better FY24 NII outlook - The 2H23 results were marginally less than we expected by lower net interest income (NII) and higher loan loss impairments. However the important commission income was marginally better, and the FY23 private banking net inflow remained strong at +6% (even after the high Dutch ‘wealth tax’ which takes away c.2% each year of clients’ money). The 2H23 expenses were quite in line, on lower on levies and h...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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