PARIS (Standard&Poor's) April 12, 2005--Standard&Poor's Ratings Services said today that its ratings and outlook on Fortis Bank (AA-/Stable/A-1+) remain unchanged following today's announcement that Belgium's largest bank will acquire 100% of Disbank the seventh-largest privately owned bank in Turkey in terms of assets, for €985 million ($1.28 billion) in cash. The growth potential presented by the Turkish banking market is the primary driver of this investment. Despite the high-risk profile of the Turkish banking industry, the moderate size of Disbank within the overall Fortis group ensures that the acquisition will not alter the group's risk profile. This transaction illustrates the growth-oriented strategy announced by the group in January 2005, which is likely to translate into selective
