Dutch association presents Fortis rescue plan
A 10-point plan aimed at restoring confidence in Fortis has been put forward by the Dutch Shareholders’ Association VEB.18 August 2008
THE NETHERLANDS - The Dutch Shareholders' Association VEB has put forward a 10-point plan to restore confidence in banking and insurance services provider Fortis.
The association wants Fortis to improve its communication with investors, and proposes they should receive a monthly update on how the bank is being affected by the credit crisis.
The VEB also believes the company's structure should be more transparent. It also proposes that a financial director should be appointed to act as a financial policy watchdog.
At the end of June, investor confidence in Fortis was rocked when it was reported that the company needed a financial injection of more than EUR 8 billion. The company's value on the stock market plummeted by EUR 30 million.
[Radio Netherlands / Expatica]
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