Fortis to reduce branches by 207

Fortis is to reduce the number of bank branches operated by itself and ABN Amro in the Netherlands from 711 to 504 by the end of 2010.

In total, 58 branches will close altogether and 298 will be merged into 149 locations, the head of Fortis’ retail banking operations, Camille Fohl, said in Brussels on Thursday.
The bank said earlier that it expected the synergy benefits to be €1.5bn by the end of 2010.

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