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
Central bank eyes big data and psychology
Regulators and industry to meet in London on March 2
Regulators have brought in Basel III liquidity measures ahead of peers but the industry is ready
One bank faces 3% hit to equity ratio if EBA proposals accepted
Sign up for Risk.net email alerts
Oxford professor David Vines argues that the carrot is as important as the stick
Sponsored webinar: IBM
Watch highlights of this year's London conference
Operational risk and the challenges of defining and dealing with conduct risk
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.