Fortis Bank BNP Paribas Explained in Detail

Fortis Bank BNP Paribas is a fascinating tale of two banks coming together to form a financial powerhouse.

In 2009, Fortis Bank, a Belgian-Dutch bank, was on the brink of collapse due to massive financial losses.

The bank was sold to BNP Paribas, a French bank, in a deal that was finalized on October 31, 2009.

This acquisition marked a significant milestone in the history of BNP Paribas, expanding its presence in the European market.

Curious to learn more? Check out: Bnp Paribas Fortis Sa

BNP Paribas Fortis has a rich history that dates back to 1822, when King William I of the Netherlands founded the Algemeene Nederlandsche Maatschappij ter Begunstiging van de Volksvlijt.

The bank has undergone several mergers and acquisitions over the years, including the creation of Fortis Bank in 1999 from the merger of Generale Bank and ASLK in Belgium, and three other banks in the Netherlands. After the global financial crisis of 2008, Fortis Bank's banking activities in the Netherlands were sold to the Dutch State.

Expand your knowledge: Bnpparibas Fortis

The bank's name was changed to BNP Paribas Fortis in 2013, and in November of the same year, BNP Paribas took over the remaining 25% stake in BNP Paribas Fortis from the Belgian State for 3.25 billion euros.

Here's a brief timeline of the bank's major milestones:

Fortis Bank BNP Paribas has a rich history that spans over two centuries. The bank's roots go back to 1822 when King William I of the Netherlands founded the Algemeene Nederlandsche Maatschappij ter Begunstiging van de Volksvlijt.

This bank would eventually merge with others to form the Société Générale of Belgium and Generale Bank. The General Savings and Loan Fund (ASLK / CGER) was created in 1865 and would later merge with Generale Bank in the 1990s.

The National Society for Credit to Industry (NMKN) was established in 1919 and acquired by ASLK in 1995. This led to the creation of Fortis Bank in 1999, which arose from the merger of Generale Bank and ASLK in Belgium, and three other banks in the Netherlands.

Additional reading: Ubs Credit Suisse Merge

After the global financial crisis of 2008, Fortis Bank's banking activities in the Netherlands were sold to the Dutch State. In Belgium, the State became a 99.93% shareholder of Fortis Bank.

Here's a brief timeline of the key events in Fortis Bank's history:

In 2009, BNP Paribas acquired 75% of Fortis Bank in Belgium, while the Belgian State acquired 10.3% of BNP Paribas' shares. This marked a significant milestone in the bank's history, paving the way for its future growth and development.

The Board of Directors of Fortis Bank BNP Paribas is responsible for establishing the bank's strategy and supervising the activities of the Executive Committee and independent control functions.

The Board consists of 16 members, with 10 non-executive and 6 executive members.

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Bnp Paribas Fortis has a rich history that dates back to 1822 when King William I of the Netherlands founded the Algemeene Nederlandsche Maatschappij ter Begunstiging van de Volksvlijt.

This bank was the precursor to the Société Générale of Belgium and Generale Bank, which would later merge with other banks to form BNP Paribas Fortis.

The banks that merged to form BNP Paribas Fortis today include the Algemeene Nederlandsche Maatschappij ter Begunstiging van de Volksvlijt, the General Savings and Loan Fund (ASLK / CGER), the National Society for Credit to Industry (NMKN), and Generale Bank.

Here's a brief overview of the key milestones in the formation of BNP Paribas Fortis:

BNP Paribas Fortis has its headquarters in Brussels, Belgium, and its SWIFT code is GEBABEBBXXX.

Each BNP Paribas Fortis branch has a unique SWIFT code, which can be checked on the bank's website.

You can use the 8 character head office SWIFT code as a backup if you're not sure or can't find the branch code.

This will still ensure your payment reaches your account.

BNP Paribas acquired Fortis Bank's Dutch operations in 2009.

This acquisition was part of a larger deal that involved the sale of Fortis Bank's Belgian and Luxembourg operations to BNP Paribas and the sale of its Dutch operations to Rabobank.

BNP Paribas paid €1.3 billion for the Dutch operations.

The acquisition was completed on May 14, 2009.

For more insights, see: Mortgage Notes for Sale from Banks