Ageas N.V.
Below you will find information from the register publication of inside information. The information has been provided by the organisation.
Registration date
28 feb 2008 - 08:07
Statutory name
Ageas N.V.
Title
Fortis-acquired ABN AMRO activities deliver strong performance in 2007
Comments
Pro forma 2007 results
• Underlying net profit of acquired businesses up 17% to EUR 1,355 million
• Strong commercial performance delivers resilient net interest income and growth in net commissions and fees
ABN AMRO today reports its results for full-year 2007. Fortis has decided to inform the market of the pro forma non-consolidated financial results of the ABN AMRO activities it has acquired.
On 7 March 2008, when Fortis discloses its full-year 2007 results, it will publish the net contribution of the acquired ABN AMRO activities after the impact of purchase accounting. Fortis will also publish the total impact of the acquisition on its results, including financing costs and integration costs.
Excluding the impact of the sale of Bouwfonds in 2006 and 2007, the EUR 83 million in realised capital gains on the sale of the Asset Management activities in 2006, and the integration costs taken at Asset Management activities (EUR 39 million after tax), total underlying net profit of the acquired businesses (Retail and Commercial/Corporate activities Netherlands, Private Client activities, Asset Management activities) increased 17% from EUR 1,158 million to EUR 1,355 million.
The 2007 net profit of the acquired ABN AMRO activities amounted to EUR 1,400 million. This is 29% lower than the comparable figure for 2006, which included the results from and the realised gains on the sale of Bouwfonds and the realised gains on the sale of Asset Management activities.
“Despite the volatile market conditions at the end of 2007 and uncertainty during the period of the bidding process itself, our ABN AMRO colleagues delivered an extremely robust financial performance in 2007,” commented Jean-Paul Votron, CEO of Fortis. “ABN AMRO maintained strong customer momentum during this period, with minimal client attrition and higher customer satisfaction levels reported. This performance validates our strong conviction that the combination of Fortis and ABN AMRO represents a compelling
Date last update: 25 April 2026