Fortis Bank NV/SA Friday issued its second defensive statement in two days, insisting that its solvency position is strong and well above the regulatory minimum. Fortis said it had a diversified funding base of more than €300 billion ($438 billion) from institutional investors retail and private deposits, central banks and corporate lenders.
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The Fortis announcement came nearly a year after it gulped down parts of ABN Amro Bank NV amid concerns that Dutch-Belgian lender may breach regulatory solvency requirements. Last week, Fortis CEO Herman Verwilst said the company may sell more assets than the €2 billion it pledged to shed in June as part of a program to find €8 billion to rebuild its capital base. Verwilst recently told Dutch newspaper De Telegraaf that "the difference between core and noncore assets is not scientific."
Adding to expectations of an imminent sale of core assets, Belgian business daily DeTijd on Friday quoted an informed source as saying that "crown jewels could be sold for the right price." - Renee Cordes
Dealescape: Fortis CEO could be dismissed on Friday
