Getting you there.
Fortis in the global wholesale financial markets and in the U.S.
IIB | Filip Dierckx | March 13, 2006 | 1 Rankings
− Large financial services provider in Benelux (market shares 15 - 30%)
− Top 20 of financials in Europe, based on market capitalization
− Top 20 of financials in Europe, based on total assets
− Top 15 in Europe, based on revenues (based on Fortune, July 2005)
IIB | Filip Dierckx | March 13, 2006 | 2 Fortis: key figures (EUR billion)
2004 2005
Total income 71,9 90,4 Net profit 2,4 3,9
2004 2005
Total assets 614,1 729,0 Assets under management 307,0 383,2 Net core capital 20,1 23,1 Employees (FTE’s) 49,468 54,909
IIB | Filip Dierckx | March 13, 2006 | 3 Market capitalization: Fortis no.19 in Europe (03/01/06, in EUR billion)
HSBC UBS RBOS Santander ING BNP Paribas Unicredito Barclays CS Group BBVA HBOS Axa Allianz Socgen Deutsche Bank Crédit Agricole ABN Amro Lloyds TSB 39.0 Fortis Ge ne r a li Banca Intesa KBC Group Standard Chartered SanPaolo Imi Nordea
0 20 40 60 80 100 120 140 160 180
IIB | Filip Dierckx | March 13, 2006 | 4 Fortis Bank in European top 20 (based on total assets, US$bn) The Banker, July 2005
UBS HSBC Crédit Agricole BNP Paribas Deutsche Bank RBOS Barclays Bank Credit Suisse ING Bank ABN Amro
Socgen SCH HBOS Caisse d'Epargne Crédit Mutuel 659 Fortis Ba nk Rabobank Group Hypo Vereinsbank Commerzbank
0 200 400 600 800 1000 1200 1400 1600 1800
IIB | Filip Dierckx | March 13, 2006 | 5 Ratings (03/13/06)
Fitch S&P Moody’s Fortis SA/NV and Fortis N.V. short term F1 A-1 -- long term A+ A+ A1
Fortis Bank SA/NV short term F1+ A-1+ P-1 long term AA- AA- Aa3
Fortis Bank Nederland (Holding) N.V. short term F1+ A-1+ P-1 long term AA- AA- Aa3
Fortis Banque Luxembourg S.A. short term F1+ A-1+ P-1 long term AA- AA- Aa3
IIB | Filip Dierckx | March 13, 2006 | 6 Fortis: a leading financial services provider
From Benelux leadership to a strategic European position in 2009 2005 Disbank 2004 Millenniumbcp Joint venture Muang Thai Fortis 2002 Intertrust Since its inception, Fortis has grown considerably 2001 Joint ventures Mayban-Fortis and Taiping Life through acquisitions and 2000 BGL, ASR Group partnerships 1998 Generale Bank 1997 MeesPierson 1993 ASLK-CGER 1992 Joint venture CaiFor (Spain) 1990 Creation of Fortis First cross-border merger in Europe
IIB | Filip Dierckx | March 13, 2006 | 7 Strong growth through acquisitions and partnerships
Disbank Dryden 1990-2005 Intertrust Annual return to investors: 17% BGL Staff: x 3 ASR MeesPierson Millenniumbcp Generale Bank ASLK-CGER Muang Thai Creation of Mayban Fortis Assurant
Taiping Life Seguros Caifor Bilbao
Acquisition Integration and consolidation 1990 2000 2004 2005
Acquisition Partnership Divestment
IIB | Filip Dierckx | March 13, 2006 | 8 Customer oriented organisation
Fortis Board
Chief Executive Officer (CEO) Horizontal functions Jean-Paul Votron
Chief Operating Officer Chief Financial & Deputy CEO Officer Herman Verwilst Gilbert Mittler
Businesses
Retail Commercial & Merchant Insurance Insurance Insurance Banking Private Banking Banking Belgium Netherlands International Jos Clijsters Karel De Boeck Filip Dierckx Jozef De Mey Jacques van Ek Peer van Harten Europe North America Asia
IIB | Filip Dierckx | March 13, 2006 | 9 Fortis’ banking businesses
Customers Products and services
− Individuals, − Day-to-day banking Retail professionals and − Savings & investments Banking small enterprises − Loans / consumer finance − Insurance
− Medium-sized − Multiple banking services, such as enterprises operating leasing, factoring, international credit Commercial & in Europe facilities, international cash Private − High net worth management and finance facilities for Banking individuals acquisitions or trading. − Institutions − Integrated international management of assets and liabilities to wealthy individuals and business clients
− Institutional customers − Corporate and investment banking Merchant − Financial institutions − Financial and capital markets Banking − Large companies − Private equity − Securities services
IIB | Filip Dierckx | March 13, 2006 | 10 Fortis’ insurance businesses
Customers / Distribution Products and services
− Individuals − Life Insurance − Small and medium-sized enterprises − Non-life Belgium − Large enterprises − Employee benefits Via independent brokers and the banking channel
− Individuals − Life − Business customers − Pension Insurance − Non-life Netherlands Via independent − Healthcare insurance brokers − Disability insurance − Mortgages & savings
− Bancassurance (Spain, Portugal, − Life Malaysia) Insurance − Non-life International − UK – excellent position in large broker network − Multi-distribution in Thailand and China (both bank and agents) IIB | Filip Dierckx | March 13, 2006 | 11 Merchant Banking Multi-domestic wholesale bank; worldwide and regional leader in specific niches
Business profile Financial profile
– Compose optimum financial solutions from a (EUR million) 2004 2005 comprehensive range of wholesale products – Provides its corporate and institutional clients with the Total revenue 1,748 2,308 specific services they need Operating costs -1,253 -1,327 – Follow core and specialised clients in their expansion, Net profit 467 1,008 resulting in a geographically diversified business
Major strengths Profit levers
– Leader in Belgium and Luxembourg − Systemise and coordinate sales – Leading positions and expertise in specific niches, approach such as commodities, shipping, export & project − Selective development of product finance and fund administration portfolio – Key activities: − Exploit opportunities in US & Asian Corporate & Institutional Banking, Global Markets, markets Private Equity & Structured Finance, Specialised − Growth is controlled by a sound Finance, Securities, and Funds Solutions risk management system IIB | Filip Dierckx | March 13, 2006 | 12 A broad portfolio of U.S. businesses
Global Corporate & Private Equity/ Fortis Specialized Global Securities & Institutional Structured Investment Finance Markets Fund Banking Finance Management Solutions – Energy – Aviation & – Acquisition – Credit Spread – Prime Fund – Fixed – Industry Intermodal Finance Investments Solutions Income – Food & – Commodities – Private Equity – Foreign – Chicago – Equity Beverage – Oil & Gas – Fund of Funds Exchange Clearing – Retail & –Shipping – Asset-backed –PDS Distribution – Global Export & Sales & Trading – O’Connor –Chemicals & Project Finance – Money Mkt / Pharma Repo – Fixed Income – TMT – Syndications – Equity Sales – European – Municipal Desk Finance – Institutional – Loan Trading Banking – CDO – Corporate Finance / Capital – Equity Trading = New Markets – Energy Activities
IIB | Filip Dierckx | March 13, 2006 | 13 Expanded locations in 2005
Chicago, IL Calgary Chicago Clearing (Canada) * O’Connor Oil & Gas Boston, Denver, CO Energy MA Aviation & Intermodal FIM Stamford, * * CT * San Francisco, CA * * Aviation & New York, NY U.S. Intermodal * * Retail & Distribution Headquarters Food & Beverage Jersey City, NJ Prime Fund Solutions * Support Prime Dealer Dallas, TX Services Global Commodities *Cayman Islands Oil & Gas Prime Fund Solutions *Curacao Prime Fund Solutions IIB | Filip Dierckx | March 13, 2006 | 14 A broad portfolio of U.S. businesses
– Confirm Fortis as a known premier European bank Competitive – Leverage global brand – provide local products and services Position – Aggressively pursue niche strategy – Leverage unique franchise in the hedge fund industry
– Leverage leading positions in Specialized Finance Clients – Enter new client segments where we perceive the opportunity – Build multi-product relationships
– Continue build-out of Global Markets activities, leveraging global products/services with local support Products – Respond to client needs with new products/services – Selectively consider JVs/Acquisitions to grow products
– Attract and retain talent Support – Ensure measured growth and regulatory compliance
IIB | Filip Dierckx | March 13, 2006 | 15 Getting you there.
Thank you
IIB | Filip Dierckx | March 13, 2006 | 16