Fortis Plans to Drop Non-Core and Non-Performing Activities Unlikely to Impact on Factoring Operations.


The Belgian-Dutch financial services group Fortis is to withdraw from under-performing businesses that do not fit its overall strategy of developing growth platforms in Europe, the USA and Asia. Yesterday the bank announced that it will be examining all its operations with a view to scaling back its non-core activities allowing the reallocation of their capital. The aim is for Fortis to rebalance its portfolio to put more capital behind its growth activities such as private banking and asset management which it said it could develop through acquisitions or alliances with European partners.

Source: Financial Times

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    Posted on Dec 20, 2000
    Region: Global Analysis