Fortis on target with ABN Amro integration

Belgo-Dutch financial services group Fortis said on Thursday the divestment of part of ABN Amro’s Dutch commercial banking activities, ordered by the European Commission, would be completed by the end of the year.

‘We are just seven months into the process and have already made excellent progress on all fronts,’ CEO Jean-Paul Votron said.
Fortis also confirmed that it sees total synergies of €1.3bn by the end of 2010, and related integration costs of €1.5bn.

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