November 28, 2005 05:26 ET

Fortis takes another important step towards one strong brand

Following Banque Générale du Luxembourg, Turkey's Disbank now renamed Fortis

BRUSSEL, BELGIUM -- (MARKET WIRE) -- November 28, 2005 --

As of today, Disbank will be named Fortis. This rebranding operation is an important step in the pursuit of Fortis's strategy to become one company operating under one flag. In an overnight rebranding exercise, all 183 branches of Disbank will be called Fortis on the morning of 28 November.

During the presentation of Fortis's growth strategy last January, CEO Jean-Paul Votron announced that all parts of the company will operate under one name within two years. According to Mr Votron, "We approach our customers as a single company, under a single flag."

Rebranding of Turkey's Disbank represents another major step in Fortis's journey towards one strong brand. A strong brand will give Fortis's growth ambitions a powerful impetus and could significantly help Fortis attract prospective customers in the international arena in which it operates.

At the press conference held in Istanbul Tayfun Bayazit, CEO of Fortis Turkey stated "As Fortis, we are very keen to perform and have set ambitious targets in Turkey. We are planning to double our market share by the end of 2009. Furthermore, we will increase the number of our branches from 183 to 300 and employees from 4,600 to 6,300, creating 1,700 additional jobs."

Fortis recently successfully integrated its biggest Dutch insurers - AMEV, Stad Rotterdam and Woudsend - into Fortis ASR. This move has allowed Fortis to bring its banking and insurance operations in the Netherlands - as in Belgium - under one flag. Last week Banque Générale du Luxembourg was renamed Fortis.

Rebranding of BGL and Disbank into Fortis will be followed by a similar operation, by the end of 2006, with Dryden Wealth Management, the UK-based private bank and O'Connor & Company, the recently acquired US-based clearing firm.

Fortis is an integrated financial services provider active in the fields of banking and insurance. With a market capitalization of EUR 30.9 billion (31/10/2005) and around 55,000 employees, Fortis ranks in the top 20 of European financial institutions. In its home market, the Benelux countries, Fortis occupies a leading position which it aims to develop and bolster. Fortis is drawing on the expertise it has acquired in its home market to realize its European ambitions via growth platforms. Fortis also operates successfully worldwide in selected activities. In specific countries in Europe and Asia it effectively exploits its know-how and experience in bancassurance. Fortis is listed on the exchanges of Amsterdam, Brussels and Luxembourg and has a sponsored ADR programme in the United States. More information is available on

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