The Dutch bank blames a ‘very volatile market’ for the significant losses in its structured product portfolio in Q1 2020.

Van Lanschot Kempen has ended the first quarter of 2020 with a loss of €10.5m after tax. The loss was driven in particular by structured products and investment in own funds – both were ‘materially’ impacted by market circumstances. ‘Exceptional’ volatility and illiquidity in certain segments of the financial markets led to pre-tax losses of €21.9m in the banks structured product portfolio. Van Lanschot Kempen offers structured products to its private b

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