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News about Fortis
Fortis CEO appointed Assuralia chairmanThe general meeting of Assuralia, the trade association of Belgian insurance companies, elected Fortis CEO Bart De Smet as its chairman for a two-year term. The Board of Directors congratulates Bart De Smet on this 10.3 billion Euro in new shares issued during H2 2009 Dutch corporations issued 10.3 billion Euro in new shares during the second half of 2009, ending a period of severely limited equity issuance since the credit crisis erupted in late 2007 (apart from several private Commission grants extension to Fortis and ABN AMRO The European Commission has decided to grant an extension of the deadline for the divestment of Fortis’ corporate banking business, consisting of Hollandsche Bank Unie N.V. (HBU), two corporate client departments, 13 Advieskantoren and ABN Fortis sells Luxembourg Nonlife activities THE Belgium-based Fortis recently announced the inking of an agreement with La Baloise for the sale of its Luxembourg Non-life activities, Fortis Luxembourg IARD. The sale value had been fixed at €23 million, according to Fortis Bank Netherlands redeems 34 bln Euro Fortis Bank Netherlands has redeemed 34 billion Euro of its debt to the Dutch State. The redemption concerns the short-term loans that were granted after the acquisition of the Dutch parts of Fortis SA/NV. With Is there a way out of the crisis? Look at the way in  The seemingly-endless worldwide recession that has Europe in a chokehold too has left economists fuming and fighting with each other over the causes and cures, a lot of companies closed down, millions of workers out Britain puts brakes on EU banking bail-out plans  With London the key centre of finances in Europe, and reluctant to cede any authority, Great Britain has forced the European Union to back down from a plan that would have required governments to rescue A big push on for pan-European financial regulators The European Commission has set the scene for a potential showdown with European Union governments by proposing an EU-wide system to oversee the bloc’s financial markets and avoid future credit crunches. “The crisis has shown Solvay issue 6-year 150 mln Euro bond The Solvay Group, an international chemical and pharmaceutical Group with headquarters in Brussels, will issue through Solvay S.A. a six year bond for a minimum total amount of 150 million Euro in the form of Fortis net assets dive 50% to 22.5 billion Euro in 2008 The net assets of Belgian bank Fortis SA/NV have fallen to less than 50 percent of the registered capital, as a consequence of the problems in the financial markets and the sale of the banking Brussels details plan to bring dead banks back to life  The European Union efforts to revive “zombie banks” poisoned by toxic assets and to jointly supervise the bloc’s troubled financial sector has gained momentum after analysts in Brussels issued a series of recommendations to member No EU financial watchdog, only guidelines As the European Union continues to reel in a locked-in recession and founders while trying to find a coordinated response, a report has recommended it should improve its ability to jointly supervise the bloc’s financial ABN Amro/Fortis Bank presents new management Dutch ABN Amro/Fortis banks new management board was presented by its Chairman Gerrit Zalm to the media on February 19. Three of the seven new members originate from ABN Amro; Chris Vogelzang, Wietze Reehoorn and Fortis shares plummet again Shares in troubled Dutch-Belgian Fortis plunged heavily following the recent rejection by the banks shareholders of a plan designed to break up and nationalise the organisation, Deutsche Presse-Agentur (dpa) reported. That plummeted stock price reportedly Fortis shareholders reject crisis nationalisation Shareholders in Dutch-Belgian bank Fortis on February 11 rejected its emergency nationalisation, throwing into chaos state plans to split up the crisis-hit lender reported Deutsche Presse Agentur (dpa). In two votes, 57 percent of shareholders Great losses in 2008 for Fortis  The beleaguered Belgian banking arm of a former giant financial services group, Fortis Bank, early last week confirmed that the company would be reporting its 2008 figures in red. In a recent statement, Fortis warned KBC gets a 2-bln Euro boost  The Flemish government held an emergency meeting to discuss the problems at KBC bank finally deciding on an economic boost to the tune of two billion Euro. Following this the bank will also get the Federal budget to be adopted  The State Secretary for the Budget, Melchior Wat?helet (CDH), had to urge Parliament to approve the 2009 budget on January 8, which should have been approved on December 18 De Standaard reported on January 9. New Belgian Prime Minister Herman van Rompuy takes office  Herman Van Rompuy, Flemish Christian democrat, speaker of the Chamber of Deputies is the new Prime Minister. Earlier, the outgoing Prime Minister Yves Leterme came under fire along with his justice minister amid allegations they Fortis Nederland transfers shares in ABN AMRO to Dutch State The State of the Netherlands and Fortis Bank Nederland signed an agreement on December 24, 2008 under which the State has directly acquired shares in RFS Holdings B.V., the company that holds all shares in |
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