In our view, the Dutch banking industry should benefit moderately from the domestic economy's gradual exit from a protracted correction phase. Moreover, we consider that improving conditions in the housing market illustrate this trend, despite the still-weak commercial property market. We now regard the trend in domestic economic risk for Dutch banks as stable. Private bank F. van Lanschot Bankiers (Van Lanschot) has advanced well in refocusing on pure wealth management business, while working out most of its legacy problem loan exposures. We consequently think Van Lanschot's asset quality metrics will gradually improve over the next 18–24 months and that downside risks will diminish. Therefore, we are revising our outlook on the bank to stable from negative and affirming our
