Belgolaise
FR - NL - EN

BELGOLAISE, S.A.
 

Registered office:
Rue Royale 20
B-1000 Brussels - Belgium
TÚl : 00 32 2 312 26 86
Fax : 00 32 2 312 26 75
RPM : 0403.200.294

Chronology of disposal of banking activities

At the beginning of 2005, Fortis announced its intention to withdraw from Belgolaise, its banking subsidiary operating in sub-Saharan Africa.

Fortis was approached by several potential buyers. However, no offer made would have enabled Belgolaise to pursue all of its activities under terms and conditions favourable to its customers and staff.

With the agreement of Belgolaise's statutory bodies, Fortis therefore decided at end-August 2005 to put an end to negotiations with the potential buyers. As a result, the Belgolaise Management Committee was given the task of gradually winding up the bank's activities in line with Fortis's strategy and organisational principles.

The London branch was closed on 15 June 2006 and the Paris branch on 15 October 2006.

In respect of its Brussels head office, Belgolaise sent all its customers letters on 16 December 2005 and 24 January 2006, inviting them to perform the procedures needed to establish new banking relations with another financial institution, to discontinue their relations with Belgolaise and to transfer their assets to their new banker.

In a letter dated 31 March 2006, Belgolaise then informed the Brussels head office's customers that it was terminating all agreements and relations linking the customers to the Bank as well as all services it offered, with advance notice ending on 30 September 2006. Customers were sent a reminder on 15 June 2006.

Lastly, on 23 October 2006, Belgolaise advised customers who had not followed up on these various letters that all their accounts, savings and securities custody accounts had been closed.

Current situation of the company

Belgolaise made the necessary provisions in order that any unclaimed assets remain held at the disposal of their former holders, but these no longer earn interest or income, nor are they linked to any services.

Currently, Belgolaise no longer carries out banking activities and is no longer a credit institution. However, it does still exist as a corporate entity in the form of a Belgian law limited company. It is part of the BNP Paribas Fortis group.