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Van Lanschot In The Market For Private Banking Assets – Report
Nick Parmee
13 August 2009
In the wake of first half results below expectations because of higher loan provisions as reported in WealthBriefing this week, Dutch private bankVan Lanschot has told Reuters that it would be a buyer of private banking assets if the European Commission makes banks that accepted state aid dispose of them. Chief executive Floris Deckers said he thinks the EC will compel many of the banks that took aid in 2008 to divest themselves of assets, including their private banking businesses. "We would be a buyer of some of those," Mr Deckers said, adding that he would prefer Benelux onshore private banking assets, to the extent those are available, but would look at other private banking units on a case-by-case basis. But his firm is keen to sell Dutch life insurer Robein Leven, which it took over this week from an unnamed shareholder who had pledged the company's shares as security for a loan and agreed to give up the shares rather than default.