Strong capitalization. Sound funding and liquidity position. Solid brand name recognition and focused wealth management strategy. Modestly sized player in a competitive segment, in which scalability is critical. High fixed-cost base and still low, albeit rising, share of high-margin fees from private banking assets under management (AuMs). Asset-quality indicators that are less favorable than peers', largely due to legacy exposures. S&P Global Ratings' outlook on Netherlands based Van Lanschot N.V. (Van Lanschot), the operating bank of the Van Lanschot Kempen group (VLK), is stable. It primarily reflects our expectation of a successful strategic shift toward wealth management and gradual improvements in the profitability of the bank's core operations in the next two years, as benefits from the bank's larger scale
