Fortis

Fortis NV Period End 31 December 2008

Fortis Annual Report 2008

Counting house rendered unable to count its own costs
Belgian insurer Fortis recognises an overall €27.4 billion loss on discontinued banking and insurance operations leading to a loss for the year but, contrary to IFRS, does not analyse this into result prior to disposal and gain or loss on disposal and gives the wrong valuation date for assets and liabilities disposed of.