Consistent and conservative management; Good asset quality benefiting from low-risk residential mortgage lending; Stable earnings with growth supported by developing franchise; and Solid capitalization. Limited presence in chosen markets and narrow business diversification. The ratings on the Dutch banking group F. van Lanschot Bankiers N.V. (Van Lanschot) are supported by its conservative management style, good asset quality, and solid earnings record. The ratings are constrained by Van Lanschot's limited presence in its chosen markets and its narrow business diversification. Established in 1737, Van Lanschot is an independent Dutch bank that provides lending, asset management, and other financial services to high-net-worth individuals, midsize--family owned--businesses, and institutional investors. At June 30, 2004, the group had total assets of €12.3 billion, assets held
