BNP Paribas Fortis is an international bank based in Belgium and a subsidiary of French banking group BNP Paribas. The bank was created in May 2009 after BNP Paribas acquired 75% of the Belgian Fortis Bank from the Federal Participation and Investment Company. It was formerly, together with Fortis Bank Nederland, the banking arm of the financial institution Fortis. After the ultimately unsuccessful ABN-AMRO takeover, the subprime mortgage crisis and subsequent 2008 financial crisis led to the sale of the Dutch and Luxembourg parts of the banking branch to the Dutch and Luxembourg governments. Fortis Bank itself was first partly bought by the Belgian government (for €4.7 billion), then fully purchased by the government and sold to BNP Paribas.
Activities
BNP Paribas Fortis offers the Belgian market a comprehensive range of financial services a range of client types, including individual customers, self-employed people and those in the liberal professions, small and medium-sized companies, local businesses, corporate clients and non-profit organisations. In the insurance sector, BNP Paribas Fortis works closely, as a tied agent, with Belgian insurance company AG Insurance.
BNP Paribas Fortis is the number-one bank for retail customers in Belgium in terms of market share and it has a strong market position among professionals and small businesses. BNP Paribas Fortis is also the leading private bank in Belgium. It ranks number one in corporate banking, offering a full range of financial services to corporate clients, public-sector entities and local authorities.