S&P: Fortis Bank unaffected

Standard & Poor's said its ratings and outlook on Fortis Bank (AA-/stable/A-1+) remain unchanged following the announcement that Belgium's largest bank will acquire 100% of Disbank for €985 million in cash.

S&P said 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, S&P said the moderate size of Disbank within the overall Fortis group ensures that the acquisition will not alter the group's risk profile.

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