UPDATE 2-Fortis Bank Nederland repays 34 bln euro state loan

* Loans were due end of 2009, but repaid early

* State says Fortis built up financing quicker than expected

* ABN says adequately capitalised

(Adds ABN statement)

AMSTERDAM, July 2 (Reuters) - The Dutch Finance Ministry said on Thursday the nationalised Fortis Bank Nederland has repaid 34 billion euros ($47.97 billion) worth of short-term loans early.

The loans were due by the end of the year but Fortis built up the capacity to repay them sooner than expected, the ministry said in a statement.

Two weeks ago the government said its funding need for the year would be 144.2 billion euros, including the money to be repaid by Fortis.

The state took over the Dutch activities of Fortis last October in a 16.8 billion euro deal, giving it control of Fortis Bank Nederland and Fortis's share of ABN AMRO.

The state aims to ultimately merge all of the Fortis assets into a new bank, ABN AMRO Bank NV and to then privatise it sometime in 2011 or later.

Separately on Thursday, ABN AMRO said in a statement it is adequately capitalised, following moves by the finance ministry last week to make more capital available to the bank.

The ministry's actions will have a positive capital impact of 2.5 billion euros, ABN said, and increase its Tier 1 capital ratio by 170 basis points. ($1=.7087 euros) (Reporting by Ben Berkowitz; Editing by Greg Mahlich)