Van Lanschot Kempen : Result marginally less, but commission income and costs in line
>Conclusion: Result marginally less, but commission income and costs in line - The earnings were just marginally less by a lower net interest income which is only about 30% of their revenues, as the commission income which was in line is the main revenue contributor. Further all items like commission income and expenses were in line. We keep our Outperform recommendation.2H23 results marginally less - The 2H23 net profit before minorities was € 73m v...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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