Third quarter net profit at Dutch-Belgian bank and insurer Fortis NV jumped 94 percent, due largely to strong banking operations, the company said Wednesday.

Third quarter net profit before results on divestments rose to euro913 million (US$1.08 billion) from euro471 million a year earlier, exceeding analyst estimates of euro759 million (US$897 million).

Fortis also said in a statement that it will take a fourth-quarter charge of euro200 million (US$236 million) to screen 3,000 managers and expects 2,000 to be replaced or fired.

Net profit in the banking division rose to euro610 million (US$720 million) from euro362 million in the three months through September, while at the insurance operations net profit came in at euro359 million (US$424 million), compared to euro238 million.

The latest figures include results at Turkey's Disbank SA which Fortis acquired in April for nearly euro1 billion (US$1.18 billion). "Disbank recorded a very promising start with a euro36 million (US$43 million) net profit in the third quarter," Fortis said.

Fortis' banking operations are largely dependent on the Benelux, and in particular the Belgian retail sector, where it vies with competitors ING Groep, Dexia SA and KBC Group NV. Fortis employs 51,000 employees and is among Europe's top 20 financial services companies by market capitalization.

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