Fortis Bank faces $18 billion loss
Last update: 3:41 a.m. EST Jan. 23, 2009
LONDON (MarketWatch) -- Fortis Banque, the former Belgian banking arm of Fortis and now controlled by the Belgian government, said late Thursday that it made a net loss of 14.1 billion euros ($18.2 billion) in the first nine months of 2008. The bank also said it will lose between 4 billion euros and 5 billion euros in the final quarter of the year. France's BNP Paribas had agreed to some Fortis assets and banking operations, but that deal has been put on hold after a court ruled shareholders must be given a say in the plans.
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