The ratings on F. van Lanschot Bankiers N.V. (Van Lanschot) reflect its conservative management and good asset quality, together with a sound capital base and positive earnings trends. Offsetting these factors is its modest size in a competitive banking segment. Van Lanschot provides a range of lending, asset management, and other financial services to high-net-worth individuals, midsize--largely family owned--businesses, and health care-related businesses. Van Lanschot is the oldest independent bank in the Netherlands, and with total adjusted assets of €17.9 billion, it is sixth largest in Dutch retail banking. Activities are largely based in the Netherlands, although the bank also has good private banking operations in Belgium. Van Lanschot's business position has been expanded through its 2004 acquisition of CenE
