AMSTERDAM, Feb 14 (Reuters) - Fortis Bank Belgium is considering a standalone scenario after shareholders of Fortis Holding voted against the company's carve-up and part sale to BNP Paribas last week, a Dutch daily reported.
Fortis Bank Chief Executive Philip Dierckx unveiled to management on Friday plans outlining a standalone scenario in which the Belgian state would be a shareholder of the bank, newspaper De Financieele Telegraaf reported on Saturday, citing unnamed sources.
Fortis Bank was not immediately available for comment.
Shareholders in Fortis Holding voted last week against the state-led deals that carved up the stricken financial group, delivering a potentially fatal blow to BNP Paribas's agreed purchase of a 75 percent stake of Fortis Bank and a stake in the Belgian insurance operations from Fortis Holding.
In reaction to the shareholder vote, BNP Paribas said the initial agreement, signed last October, remains legally binding until Feb. 28.
But the immediate future for Fortis Bank remains unclear and the company has said it will make a statement in due course.
But the Telegraaf newspaper added on Saturday that besides a standalone option, another possible scenario involved the Belgian state nationalising both Fortis Bank Belgium and the insurance activities.
Fortis Bank is currently 99.93 percent owned by the Belgian government, while Luxembourg owns 49.9 percent of Fortis Bank's Luxembourg subsidiary.
The bank said its solvency has improved in recent months and its Tier 1 ratio is expected to be around 10 percent at year-end 2008, well above the minimum regulatory requirements.
(Reporting by Aaron Gray-Block; Editing by Victoria Main) Keywords: FORTIS/ (aaron.gray-block@thomsonreuters.com; +31 20 504 5001; Reuters Messaging: aaron.gray-block.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Fortis Bank Chief Executive Philip Dierckx unveiled to management on Friday plans outlining a standalone scenario in which the Belgian state would be a shareholder of the bank, newspaper De Financieele Telegraaf reported on Saturday, citing unnamed sources.
Fortis Bank was not immediately available for comment.
Shareholders in Fortis Holding voted last week against the state-led deals that carved up the stricken financial group, delivering a potentially fatal blow to BNP Paribas's agreed purchase of a 75 percent stake of Fortis Bank and a stake in the Belgian insurance operations from Fortis Holding.
In reaction to the shareholder vote, BNP Paribas said the initial agreement, signed last October, remains legally binding until Feb. 28.
But the immediate future for Fortis Bank remains unclear and the company has said it will make a statement in due course.
But the Telegraaf newspaper added on Saturday that besides a standalone option, another possible scenario involved the Belgian state nationalising both Fortis Bank Belgium and the insurance activities.
Fortis Bank is currently 99.93 percent owned by the Belgian government, while Luxembourg owns 49.9 percent of Fortis Bank's Luxembourg subsidiary.
The bank said its solvency has improved in recent months and its Tier 1 ratio is expected to be around 10 percent at year-end 2008, well above the minimum regulatory requirements.
(Reporting by Aaron Gray-Block; Editing by Victoria Main) Keywords: FORTIS/ (aaron.gray-block@thomsonreuters.com; +31 20 504 5001; Reuters Messaging: aaron.gray-block.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.