The ratings on Fortis Bank reflect the institution's strong position in the Benelux banking market, good asset quality, and satisfactory profitability and capitalization; as well as its position as a core member of the Fortis group. Fortis Bank is the banking arm of Fortis, a Belgo-Dutch banking and insurance group. Fortis has a clear and consistent strategy of being a leading financial services group based in Benelux. Fortis Bank is the largest bank in Belgium, the second-largest banking group in Luxembourg, and the fourth-largest in the Netherlands. The bank has a moderately low risk profile; its activities and assets are concentrated in its home market, and the bulk of its revenues is derived from retail banking. The bank's asset quality
