The ratings on Belgium-based Fortis Bank reflect the institution's strong position in the Benelux banking market, good asset quality, satisfactory profitability, and adequate capitalization. The ratings also factor in Fortis Bank's 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 in Benelux. Fortis Bank is the largest bank in Belgium, the second-largest banking group in Luxembourg, and the fourth-largest banking group 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
