Belgian bank lost 20.6bn-euro 

Belgian Fortis Bank has seen a 20.6bn-euro loss for 2008, following write-downs on debt and the division of the business. The bank, which now only exists in Belgium, was bailed out by the Belgian and Dutch governments in October 2008. It was formerly the biggest bank in Belgium but was split up as it faced mounting debts in the credit crisis. The bank is 99.93% owned by the Belgian state, while Luxembourg owns 49.9% of BGL, the subsidiary in Luxembourg. Fortis Holdings is now a much smaller firm, largely consisting of insurance providers.