Crisis puts pressure on Fortis’ 2007 result

7th March 2008, Comments 1 comment

Fortis was severely affected last year by the international credit crisis.

7 March 2008

AMSTERDAM - Fortis was severely affected last year by the international credit crisis. The Belgian-Dutch bank and insurance company lost EUR 2.7 billion as a result. More than half of that amount was deducted from the net profit.

The net profit came to EUR 4 billion last year. In 2006 it was 4.35 billion. Investors responded negatively. At the start of trading Fortis’ share price fell 4 percent.

Fortis took over ABN AMRO last year as part of a consortium with Spanish Banco Santander and Royal Bank of Scotland. Fortis says the integration is going according to plan.

[Copyright Expatica News 2008]

1 Comment To This Article

  • Damion posted:

    on 7th March 2008, 11:26:03 - Reply

    At the end of the year, Fortis had 4000000000 more Euros than it started the year with. All things considered, not a bad year in my opinion.