What happened to Fortis Bank?
Fortis Bank was heavily dismantled and restructured during the peak of the global financial crisis. Originally a massive cross-border financial services conglomerate rooted in Belgium, the Netherlands, and Luxembourg, the group suffered severe liquidity strains and a collapse in market confidence due to its poorly timed acquisition of ABN AMRO right as credit markets froze. To prevent a catastrophic financial meltdown, the governments of the Low Countries intervened through emergency partial nationalizations and split up the enterprise. The Dutch state acquired Fortis's operations in the Netherlands, while the Belgian government rescued the domestic banking arm and swiftly sold a controlling 75 percent stake to the French banking titan BNP Paribas, which subsequently rebranded it as BNP Paribas Fortis.
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