BRUSSELS - Benelux bank Fortis has announced its shareholders will receive no dividends for 2008 due to a net loss of EUR22.5 billion for the year, mainly from its Fortis Bank operations. The announcement came in a statement on March 15, which added that the firm remains solvent.
The bank was the recipient of a joint Belgium, Netherlands and Luxembourg emergency rescue last year, which resulted in an attempt by French bank BNP Paribas, which has since been stalled, to buy out most of the group's nationalised Belgian banking and insurance assets.
More on Regulation
ABA calls for better ways to compare bank capital between countries
US regulator will pursue a quicker route to exempt foreign CCPs
ECJ decision means new problems for data preservation
Discussion crystallises over regulatory streamlining
Sign up for Risk.net email alerts
Sponsored webinar: IBM
Watch highlights of this year's London conference
Operational risk and the challenges of defining and dealing with conduct risk
Watch discussions and speakers from our North America conference
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.