Auditors’ Report
We have examined the 1986 financial statements,
including the consolidated financial statements,
of Friesch-Groningsche Hypotheekbank N.V
Based on our examination we are of the
opinion that these financial statements present
fairly the financial position as per December 31,
1986 and the result for 1986.
Amsterdam, May 15, 1987
Van Dien Co
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