Van Lanschot Kempen : Results better in 1H24, good net inflows in private banking
>Conclusion: Results better in 1H24, good net inflow in private banking - The 1H24 results were marginally better than expected as a result of a higher than expected commission income driven by private banking. Also the result from the non-strategic investments were better than expected. We remain positive on VLK.Net profit better in 1H24 - The net profit before minorities was € 75m vs our € 64m (consensus € 64m). This higher result was driven by a hi...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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