Fortis profit down on credit crisis

Dutch-Belgian financial services group Fortis may see its 2007 net earnings down some €1bn because of the US credit crisis, the company said on Monday.

This means its 2007 profits could fall to €3bn, down from a previous estimate of €4bn, the company said.
At the same time, Fortis emphasied that its overall finances remain sound.
The bank, which said it made the statement because of recent market speculation, will publish full-year earnings on March 7.

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