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Ageas N.V.

Ageas N.V.

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Publicatie datum 23 dec 2005 - 07:41
Statutaire naam Ageas N.V.
Titel Fortis acquires Von Essen KG Bankgesellschaft, a German bank specializing in consumer finance
Bericht Fortis announced today that it has acquired 100% of Von Essen Bank, a German consumer finance bank. Jos Clijsters, CEO of Fortis Retail Banking commented: ‘We announced in June that consumer finance would be one of our key linchpins for the development of retail banking activities outside the Benelux countries. This acquisition marks a further step towards the strengthening of our presence in Germany, by far Europe’s biggest market for consumer finance. Von Essen Bank is a sound and dynamic bank that will help us expand in Germany, on top of our other existing banking activities. Von Essen Bank will be integrated into the Fortis structure and we plan to build on the existing Von Essen Bank business by introducing a broader range of consumer finance products, including credit cards, car financing and mortgages and by diversifying our distribution channels. Greater emphasis will be placed on cross-selling to the customer base and Fortis intends to become a provider of comprehensive financing solutions for the young to middle-aged customer segment.’ Hans Richter, Von Essen Bank’s founder added: ‘As an operationally sound bank distributing mainly through direct sale, brokers, e-commerce and direct mail, Von Essen Bank is an ideal platform for Fortis to access the German consumer finance market, while benefiting from Fortis’s strength and commitment to developing the business further and ensuring its future in a consolidating sector.’ Von Essen Bank was founded in 1969 in the city of Essen. It offers consumer loans, mortgages and equipment leasing services as well as savings and deposit products, and has 414 employees. The transaction is subject to customary closing conditions and the required regulatory approvals. It will have no material impact on Fortis’s solvency or net profit per share in 2006 but is expected to meet Fortis’s investment criteria. Fortis Consumer Finance Fortis Consumer Finance was structured as a separate business line within Fortis Retail

Datum laatste update: 13 april 2024