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Endpoint: Generale Bankmaatschappij



created on: 30/12/2024
by: Lo55o (13362)
 
 

Brand properties

General info :
"Generale Bankmaatschappij" was the Dutch business name of "Generale Bankmaatschappij NV / Société Générale De Banque SA".
The bank was a merger of "Bank van de Generale Maatschappij van België", "Bank van Antwerpen" and "Belgische Bankmaatschappij" formed in 1965.
It was renamed "Generale Bank NV" in 1985.

The predecessor was founded in 1934 by the Société Générale de Belgique, which wanted to transfer its banking activities to a separate public limited company, the Banque De La Société Générale De Belgique.


In May 1987, Generale Bank was approached by AMRO Bank.
In January 1988, Carlo de Benedetti made a hostile bid for the Generale Maatschappij, the parent company of Generale Bank NV. Strong pressure on the merger partners led to preliminary plans being released on 12 February 1988. A cooperation agreement was signed whereby Generale Bank and AMRO Bank aimed at a banking combination within three years. The first step was the creation of a joint holding company under the name Tuba Holding International.
In the summer of 1989, after a year and a half of talks, AMRO Bank lost confidence in a good outcome and in September 1989, the alliance was terminated at a press conference.

In 1998, the bank's major shareholder, Generale Maatschappij Van België, which had come into the hands of Compagnie de Suez in 1998 , indicated that it wanted to sell its controlling interest of 30% in the bank. Maurice Lippens of Fortis had good ties with the CEO of Suez, Gérard Mestrallet, and quickly reached an agreement. In May 1998, after months of difficult negotiations and against the wishes of the bank's board of directors, Fortis made an offer of 22 billion guilders in shares. ABN AMRO made a counteroffer of 24 billion shortly afterwards. ABN AMRO had previously spoken extensively with the board of directors of Generale Bank and the latter would manage the European banks of the combination. The management would be in the hands of Rijkman Groenink (ABN AMRO) and Fred Chaffart of Generale Bank would become vice-chairman. However, the management committee had a minority on the board of directors, comparable to the board of directors and the supervisory board in the Netherlands. After Fortis had increased its bid to around 28 billion guilders, the majority of the board of directors of Generale Bank voted in favour of Fortis' bid. The purchase was completed in 1998. On 23 June 1999, all Fortis banking companies merged, but the merger was not visible on the street until 21 March 2000, when the name Fortis Bank was used from then on.

In 1999, Fortis Bank was created from the merger of Generale Bank and ASLK in Belgium, and of Generale Bank Nederland, VSB Bank and MeesPierson in the Netherlands.

During the credit crisis, the parent company Fortis got into serious financial trouble by overdoing its takeover of ABN AMRO Bank NV, which ultimately resulted in a nationalisation of itself and the newly acquired parts of the ABN AMRO estate.
The group's banking activities were split into a Belgian and a Dutch part. The Belgian activities initially came into the hands of the Belgian state.
Since 2009, it has been part of the French bank BNP Paribas and continues under the name BNP Paribas Fortis in Belgium.
Relations :
Brand name used by [1965 - 1985] : Generale Bankmaatschappij NV
This endpoint is new to the database, please check he (it) is not in with a similar endpoint name association (and use the ENA function if necessary).
Renamed to [2009 -] : BNP Paribas Fortis
This endpoint is new to the database, please check he (it) is not in with a similar endpoint name association (and use the ENA function if necessary).
Renamed to [2000 - 2009] : Fortis Bank
This endpoint is new to the database, please check he (it) is not in with a similar endpoint name association (and use the ENA function if necessary).
Renamed to [1985 - 2000] : Generale Bank
This endpoint is new to the database, please check he (it) is not in with a similar endpoint name association (and use the ENA function if necessary).
Source :
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Item number : 67312

Submitted by : Lo55o (13362)
on : 30/12/2024
Refined by : Lo55o (13362)
Last updated on: 30/12/2024