Fortis announced last week it is achieving sustainable growth thanks to increased activity and professional disicpline.
The financial services company reported net profits before results on divestments up 45 percent to EUR3.4m. It also announced that insurance net profit before results on divestments up 9 percent to EUR1.2m from EUR1.1m.
2005 net profits were up 32 percent on 2004 to EUR3.9m. Earnings per share are up 31 percent to EUR 3.07.
Fourth-quarter net profit before results on divestments amounted to EUR461m, up 24 percent on the fourth quarter of 2004, mainly due to better results at Banking, the company said in a news release.
We have put the customer at the heart of our strategy and I am happy to see intensified commercial activity reflected in top-line growth,” said Jean-Paul Votron, Fortis CEO. “At Banking total revenues increased by 17 percent and net new inflow of funds under management amounted to EUR 18 billion. At Insurance, gross inflow at Life increased by 41 percent.”