Post By Martin 0 Comments
May 2008 22

ABN integration is on track says Fortis

http://www.reuters.com/article/innovationNews/idUSL2269746920080522

AMSTERDAM (Reuters) – Belgian-Dutch financial services group Fortis (FOR.BR: Quote, Profile, Research) said on Thursday it was on track to extract 1.3 billion euros ($2 billion) in cost savings and additional revenue from its merger with the Dutch operations of ABN AMRO.

In a statement at the start of its annual investor’s day, Fortis said 26 percent of the synergies would be reached in 2008, 55 percent in 2009 and 100 percent in 2010.

“We are just seven months into the process and have already made excellent progress on all fronts,” Fortis Chief Executive Jean-Paul Votron said in a statement.

Check this article out, it’s talking about Fortis ongoing integration of ABN Amro, including the reported cost savings and revenue it’s set to benefit from as a result of the transaction. An interesting read, and it’s great to see everything on track.

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