Fortis net profit 24% higher

Belgian-Dutch banking and insurance group Fortis booked net profit of €4.4bn in 2006, a rise of 24% on the previous year. Earnings from banking were up 29% while the insurance arm grew 16%, Fortis said.

The company has increased its long term earnings per share growth target from 10% to 15%.
Fortis repeated its earlier target that some 30% of operating profit should be earned outside the Benelux by 2009.

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