Amsterdam  - The drastic drop in share value of Belgian-Dutch bank and insurer giant Fortis on Monday is a "heavy blow," Dutch Finance Minister Wouter Bos said on Dutch television Monday.

Despite the takeover of 49 per cent of Fortis by the Benelux countries of The Netherlands, Belgium and Luxembourg, the bank's share value dropped by 23.6 per cent.

Bos said he was hoping investors will regain confidence once more details are known about the US rescue plan of the banking industry.

He also emphasized that "if other banks equally fundamental to the Dutch financial system as Fortis will get into similar problems as Fortis, the Dutch government will take responsibility as well." (dpa)