BRUSSELS, Belgium, Feb. 7, 2006 (PRIMEZONE) -- Since 1 January 2006, the Fortis Private Banking has been operating in Switzerland under the corporate name of Fortis Banque (Suisse) S.A. This change of name is part of a strategy designed to consolidate the Fortis image worldwide. Hitherto, asset management was developed under the identity of MeesPierson, the oldest private bank on the European continent with origins dating back to 1720.
Fortis Banque (Suisse) S.A. is part of the Fortis Commercial & Private Banking division which, by combining the activities of commercial banking, asset management and private banking, conforms to a strategy of providing an all-inclusive service to enterprises and entrepreneurs both locally and internationally.
Act as one
The personalised customer approach developed by Fortis is based on an all-inclusive offer, accessible to entrepreneurs today in the Group's Business Centres, which combine the services of commercial banking, trust & corporate services, asset management, finance and support for real-estate projects.
Fortis in Switzerland: steady growth and a growth market
"To be a benchmark financial player one must constantly offer innovative products and a superior service, a high level of responsiveness, and the best market conditions," emphasises Yves Stein, General Manager of Fortis Banque (Suisse) S.A.
Present in Switzerland through its three arms of commercial banking, private banking and Trust & Corporate Services activities, Fortis Commercial & Private Banking today employs more than 400 people in its Swiss branches in Geneva, Lausanne, Lugano, Nyon, Zug, Zurich and, since the summer of 2005, Sion.
The private banking activity currently employs 250 people managing around 12.5 billion Swiss francs. Finance projects have reached a total of 1.3 billion Swiss francs. Between now and 2009, this figure is set to exceed the 3 billion mark, with a share in excess of 50% attributable to real-estate finance.
Regarding managed assets, the target is to approach 20 billion Swiss francs by 2009.
The Fortis Group, a unique partner in a market without frontiers
An international provider of financial services specialising in the fields of banking and insurance, Fortis addresses a wide customer base consisting of private individuals, firms and institutions. To them it offers a comprehensive range of products and services through its own channels or in collaboration with intermediaries and distribution partners. With a market capitalisation of EUR 37.4 billion (31/01/2006), Fortis is one of the 20 largest financial institutions in Europe. Its high level of solvency and presence in 44 countries are benefits which, combined with the enthusiasm and professionalism of its 56,000 employees, enable it to join power with flexibility both internationally and locally, all with the fundamental aim of providing a better service to clients. For more information, visit www.fortis.com
An important spearhead of the group's expansion outside Benelux is its Commercial & Private Banking activity, intended to serve globally and integrally the interests of entrepreneurs and firms.
With this in mind, Fortis has developed a personalised approach to clients based on a unique, all-inclusive offer, today accessible to entrepreneurs in Business Centres (110), combining the services of commercial banking, trust & corporate services, asset management, finance and support for real-estate projects. Thanks to this unique and innovative "Act as one" strategy, Fortis clients throughout Europe are offered the same level of service and the same range of products and cross-border solutions.
Fortis Commercial & Private Banking: tailor-made financial products and services for enterprises and entrepreneurs
For enterprises, products and services with high added value have been developed, such as leasing, factoring, credit facilities, international cash-flow management and the financing of acquisitions.
With the administration of 22,500 structures, Fortis is also acknowledged as a leading player on the world stage for all matters concerning legal structuring, advice on inheritance and succession, and fiduciary services.
Lastly, in the field of asset management, Fortis is one of Europe's 15 leading private banks, managing a portfolio of more than EUR 64 billion.
Fortis in Switzerland
Present in Switzerland with its three Commercial & Private Banking arms (Commercial Banking, Private Banking, Trust & Corporate Services), Fortis - through a combined and global approach to these activities - offers a comprehensive range of banking services to a customer base comprising entrepreneurs and their firms, as well as wealthy individuals and their families.
The Private Bank of Fortis in Switzerland - Fortis Banque (Suisse) S.A. from 1 January 2006 - has developed a structured approach of advice and products that far exceeds traditional asset management services. Indeed, the Bank's specialists are able to meet clients' expectations both in terms of asset management and business projects. Accordingly, the Bank has developed expertise in the following key areas:
-- Investments: in addition to traditional investment products, the Bank proposes investment structures covering alternative asset categories such as hedge funds, private equity and guaranteed capital structures; -- Financial, legal and fiscal structuring, where necessary in close collaboration with the Trust & Corporate Services companies of the Fortis Group; -- Financing services: Lombard credits, bank guarantees and real-estate finance, and -- Real Estate investments via real estate funds, listed or otherwise, or directly in rental properties (office buildings, semi-industrial buildings, commercial premises and residential buildings).
For a number of years a new activity has experienced rapid growth: the financing of main or secondary residences - or rental properties - located in Switzerland. In 2005, the mortgage loan portfolio increased by nearly 200%!
Whether through organic growth or external growth, Fortis has confirmed its policy of expansion in Switzerland in particular with the recent acquisitions of Centrapriv in 2004, Dryden in 2005 and Dreieck in 2006.
Fortis Banque (Suisse) S.A. is growing quickly and ranks in 15th (based on profit for the 2004 financial year) among foreign banks present on the Swiss market (source: Association of Foreign Banks in Switzerland).
Promising prospects
With a target of accelerated growth designed to increase global operating profit by 10% per annum over the period 2005-2009 and a contribution to profits outside Benelux which should eventually attain 30%, Fortis's international activity is going from strength to strength. The network will become more dense with the opening of new Business Centres across Europe and worldwide.
In Switzerland, targets concern both managed assets and financial undertakings. The managed portfolio on the Swiss market is expected to attain 20 billion Swiss francs in 2009, from a base of one half of this figure in 2004.
The global approach developed seeks to help clients monitor and sustain the growth of their assets, whilst controlling risks.