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 in custody of €14.4 billion, and employed about 1,700 people. It ranks as the sixth-largest banking group in The Netherlands. Assets are dominated by the group's customer loan book, which constitutes about 80%
