When did Fortis Bank collapse?
Fortis Bank suffered a catastrophic collapse during the height of the global financial crisis in September 2008, driven by its aggressive acquisition of ABN AMRO and mounting exposure to toxic debt assets. To prevent a total systemic meltdown, the governments of Belgium, the Netherlands, and Luxembourg intervened with multi-billion-euro rescue packages, subsequently nationalizing, breaking up, and selling off its banking and insurance assets to institutions like BNP Paribas and the Dutch state.
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