Fortis Bank Nederland (formally Fortis Bank Nederland (Holding) N.V.) was a bank in the Netherlands until 2010.
The holding came into being within Fortis Bank, as a holding for those Dutch banks taken over by Fortis. In September-October 2008, the Dutch government first planned to invest EUR4 billion in exchange for an almost 50% interest in the holding (in new-to-be-issued shares), but within a week the agreement was cancelled. The Dutch government took over all the Dutch parts of Fortis for a total of EUR16.8 billion; in this take-over, Fortis Bank Nederland was valued at EUR5 billion.
Later, Fortis Bank Nederland appeared in the news because it had lost EUR1 billion in the Madoff investment scandal. In March 2009, it reported that during 2008 it had an operational profit of EUR0.6 billion; this excluded (massive) write-offs.
In February 2010 Fortis Bank Nederland was integrated into the new ABN AMRO by the Dutch Government and some parts were sold off. On the July 1 that year the integration was officially completed and the Fortis name ended.
Video Fortis Bank Nederland
Former subsidiaries
- Fortis Commercial Finance (FCF)
- Finodis
- MeesPierson - private bank
- Intertrust Group, formerly known as Fortis Intertrust
Maps Fortis Bank Nederland
See also
- Fortis (finance)
- ABN AMRO Group
- BNP Paribas Fortis
Source of article : Wikipedia
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