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Thursday August 27, 11:30 AM Reuters

Fortis posts H1 profit, will finish review soon

AMSTERDAM (Reuters) - Belgian financial group Fortis SA/NV on Thursday posted a profit for the first half of the year on gains from transactions related to its dramatic late-2008 breakup.

Fortis reported a net profit of 886 million euros. It had previously said inflows were strong in April and May after posting a first-quarter profit, and the insurance business turned profitable after losses in the latter part of 2008.

The company also said it will release the results of its strategic review on Sept. 25.

Fortis was broken up last October after a capital injection failed to calm investors.

The Dutch state took control of its Netherlands operations, including Fortis Bank Nederland and the bulk of ABN AMRO. BNP Paribas took control of Fortis Bank and a quarter of Fortis Insurance Belgium.

(For more news on Reuters Money click http://in.reuters.com/money)

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