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BNP Paribas raises Fortis savings goal
Quick ReadBNP Paribas raised its annual savings goal from Fortis acquisition to €900 million by 2012
PARIS (AP) — French bank BNP Paribas on Tuesday raised its savings target from the acquisition of Belgian lender Fortis, saying it expects annual synergies of €900 million ($1.35 billion) by 2012.
When it announced plans to take over most of Fortis in October last year, BNP Paribas set a goal of €500 million annual cost savings by 2011.
The Fortis purchase made BNP the largest financial...
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