Auditor's report
We have examined the financial statements of Friesch-Groningsche
Hypotheekbank nv for the year 1980. These statements include:
- the consolidated financial statements of Friesch-Groningsche
Hypotheekbank nv and affiliated banks;
- the combined financial statements of the real estate companies
and other diversifications.
In our opinion, based upon our examination, the accompanying
financial statements, together with the notes, present fairly the
financial position at December 31,1980 and the results for the
year then ended.
Amsterdam, 23 March 1981
Van Dien Co
G.G.M. Bak
Reg isteraccou nta nt
63