KAS BANK says it has lost a €70 billion Dutch sub-custody mandate to a competitor, but it is unperturbed because “the transfer is in line with the earlier announced policy of KAS BANK to focus more on added value services and less on volume.” The bank declined to name the client, or the competitor, but a spokeswoman explained that “as this service relates to a section of the bank’s Dutch basic services for which KAS BANK solely acts as operational manager and which exists completely separately from its European service range, the transfer will not have any influence on the services provided to institutional investors and financial institutions.” She added that the loss of business will have “only have a marginal effect” on the revenues and profits of the bank.
KAS Bank Kisses Euros 70 Billion Netherlands Sub-Custody Mandate Goodbye
KAS BANK says it has lost a €70 billion Dutch sub custody mandate to a competitor, but it is unperturbed because "the transfer is in line with the earlier announced policy of KAS BANK to focus more on added value
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