has been assaulted by the banking maelstrom of the last month, most
recently by the stranding of Fortis Lease with a drastically
reduced distribution network across the country.
Whereas Fortis Lease in the Netherlands has fallen under the
mantle of BNP Paribas following its buyout of the Fortis Lease
holding company based in Luxembourg, the Netherlands network of
Fortis Bank has passed into the hands of the Dutch government.
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As a result, Fortis Lease in the Netherlands can no longer
distribute services through Fortis Bank branches, meaning a greatly
reduced ability to compete with surviving rivals De Lage Landen and
ING.
Worse yet, many employees of Fortis Lease who had been working
in Fortis Bank branches prior to the crisis were told this week to
leave their workplaces immediately following the split.
Fortis Lease Belgium’s marketing manager Dirk Bauweleers called
the Netherlands turmoil a “highly specific situation” and insisted
that Fortis Lease was still open for business in the
Netherlands.
Meanwhile, the Dutch offices of both ING Lease and De Lage
Landen have seen increased business coming their way due to the
sudden schism in the market.
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