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Under Pressure, Fortis to Sell More Assets

by Fiction Fortis on 09/26/2008 14:14 0 comments , 11 views

Fortis , the Dutch bank and insurer, said it will sell additional assets to improve its solvency.

Fortis’ shares have fallen sharply in the past month on worries it will not be able to meet a target of raising 5 billion euros ($7.4 billion) in additional capital by selling assets or issuing debt, as it plans.

The company said in a statement Friday that it is now considering “a wider range of activities to be divested” than before and expects t...

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Fortis customer deposit flows

by Fact Fortis on 09/26/2008 14:04 0 comments , 13 views
 Fortis customer deposit flows: Above all we underline the solid position of the bank. In a challenging environment of  market turmoil, of negative coverage on Fortis triggering many questions from our customers, of very sharp competitive environment, customer moves have remained limited. Compared to January 1st 2008, these moves represent less than 3% of its total Benelux retail and private banking customers assets excluding market impact. This...
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Fortis solvency

by Fact Fortis on 09/26/2008 14:02 0 comments , 15 views
Fortis solvency is solid and well above the regulatory minimum. Fortis' capital plan which will support the consolidation at the end 2009 of all acquired ABNAMRO businesses, is being further developed.

As at 30-6-2008, Fortis core capital stands at EUR 4 billion above its target.

The future need for additional capital will actually only be in 12- 18 months as we start to fold in the largest part of the ABN AMRO business. In support of th...

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