Dutch bank Van Lanschot to cut 250 jobs in reorganisation

AMSTERDAM Tue May 14, 2013 1:19am EDT

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AMSTERDAM May 14 (Reuters) - Dutch private bank Van Lanschot will cut 250 jobs due to a reorganisation that will cut its corporate loan book by almost half, reduce the number of products, and offer more online wealth management services.

Van Lanschot, whose new Chief Executive Karl Guha ordered a strategic review at the start of the year, is suffering from higher bad debt costs due to the recession in the Netherlands, and made a net loss of 155 million euros ($201 million) in 2012. ($1 = 0.7703 euros) (Reporting by Gilbert Kreijger; Editing by Jeremy Laurence)