Van Lanschot Kempen blames structured products for Q1 loss

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