Fortis has reported a net profit of E808 million for the first quarter of 2008, a decrease of 31% compared with a net profit of E1.17 billion for the same quarter of 2007.
For the quarter, the company reported E721 million net profit from banking segment, down 20% compared to E903 million for the same period of 2007. Retail banking net profit for the quarter increased 4% to E270 million compared with E260 million for the same period of 2007.
Total income from banking segment was E3.18 billion, up 17% from E2.72 billion for the corresponding period of 2007.
Net profit from insurance segment totaled E219 million in the first quarter of 2008, down 38% from E352 million for the corresponding period of 2007.