Thursday, 24th July 2008

 

9 May 2008 - Press Briefing

Dutch private bank expects earnings per share to slide amid reduced profit

Van Lanschot Bankiers on Thursday said its first-quarter profit was considerably less than last year and it expected earnings per share for 2008 to be lower than those of 2007, according to a Reuters report.

The Dutch private bank gave no further financial details. Van Lanschot reported net profit of €215m ($333m) in 2007 and earnings per share of 5.94 euros.

It is due to publish half-yearly figures on August 15. The bank blamed negative market sentiment and a fall in share prices for the decline, saying these factors had hit asset management fees and transaction income.

However it added it did not have any direct or indirect investments in the sub-prime sector and had acquired a substantial number of new clients and funds, adding it was continuing to benefit from the consolidation battle in the Dutch financial sector.

Tags: Van Lanschot Bankiers

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