Membership of diversified financial services group Fortis; Strong market position of the Fortis group in the Benelux; Good asset quality, underpinned by a low-risk asset profile and good business diversification; Satisfactory operating performance; and Adequate capital position, taking into account the situation of other group members. Banking revenues' sensitivity to interest rate movements; Highly competitive nature of the Belgian retail banking market; and Moderate, although improving, operating performance of its Dutch insurance division. The ratings on Belgium-based Fortis Bank reflect the institution's strong position in the Benelux banking market, its good asset quality, satisfactory profitability, and adequate capitalization. They also factor in Fortis Bank's position as a core member of Fortis, a Belgian-Dutch banking and insurance group. Those positive factors
