Banks in Belgium

14 October 2020

Located in the center of Western Europe, Belgium is a high-income and well diversified economy. Favorable legislation, stable social and economic environment make Belgium an attractive destination for foreign financial institutions: out of 93 operating in the country there are 24 domestic banks, 11 subsidiaries of foreign banks, and 58 branches of foreign banks from 18 countries. During 2013-2020 37 banks were closed down. Consolidated banking assets of banks in Belgium 2.21 times exceed GDP. The banking sector of Belgium is highly-concentrated: 5 largest banks comprise together about 76 % of consolidated banking assets.

Belgian banking sector is broadly diversified not only in terms of international presense: provided products and services range from traditional for BeNeLux international private banking, asset and wealth management offered to individuals, business entities and institutions to modern investment banking, securities trading and custody services.

Major Banks in Belgium

Out of 93 banks operating in Belgium, there are 5 largest banks comprising together about 76 % of consolidated banking assets, each of the banks has market share of more than 4.0 % of total banking assets. During 2015-2019, total assets of each of the 5 largest banks haven’t had significant changes.


Among these 5 banks only 3 banks have Belgian capital, the other 2 are foreign-controlled banks.

Rank Bank Name Total Assets (mln EUR) Market Share Country of Origin
1   BNP Paribas Fortis 223428.07 23.28 %  France
2   KBC Bank 178980.02 18.65 %  Belgium
3   BELFIUS BANK 150720.00 15.70 %  Belgium
4   ING BELGIUM 137324.54 14.31 %  Netherlands
5   ARGENTA SPAARBANK 39118.39 4.08 %  Belgium

BNP Paribas Fortis

Rank by Total Assets

1

Customer Rating

 (3.0; 1 ratings)

Country of Origin

 France

In 2009 Belgian Fortis Bank was merged into BNP Paribas Group, forming BNP Paribas Fortis. BNP Paribas Fortis offers a broad range of financial products and services to various customer groups: individuals and families, high-net-worth individuals, entrepreneurs and companies, local authorities and social sector.

BNP Paribas Fortis provides products and services in the areas of private banking, corporate banking, online brokerage. BNP Paribas Fortis offers a range of products including consumer loans (5.90 – 5.90 %), car loans (0.90 – 3.90 %). BNP Paribas Fortis makes its solutions available to private individuals, families, self-employed professionals, entrepreneurs.

BNP Paribas Fortis is the 1st largest bank in Belgium in terms of total assets. In 2019 its total assets were 223,43 bln EUR, providing the bank with the market share of 23.28%.

KBC Bank

Rank by Total Assets

2

Customer Rating

 (2.1; 7 ratings)

Country of Origin

 Belgium

KBC Bank is a multi-channel bank catering mainly for retail, private banking, SME and mid-cap clients. Geographically, KBC Bank is focused on Belgium, the Czech Republic, Slovakia, Hungary, Bulgaria and Ireland. Being a part of KBC Group, KBC Bank offers its customers an integrated response to theirs’ banking and insurance needs.

KBC Bank provides products and services in the areas of retail banking, private banking, business banking. KBC Bank offers a range of products including current accounts, debit cards, credit cards, savings accounts, time deposit accounts, pension accounts, consumer loans (5.50 – 5.50 %), car loans (1.35 – 3.95 %).

KBC Bank is the 2nd largest bank in Belgium in terms of total assets. In 2019 its total assets were 178,98 bln EUR, providing the bank with the market share of 18.65%. In 2019 the bank’s net income was 2 040,00 mln EUR.

BELFIUS BANK

Rank by Total Assets

3

Customer Rating

 (3.1; 27 ratings)

Country of Origin

 Belgium

Belfius Bank (formerly Dexia Bank) is a Belgian banking and insurance company, fully owned by the Belgian Federal State. Belfius Bank is focused on providing retail banking products and services to private individuals, self-employed, professionals and SMEs in Belgium. Belfius Bank also offers corporate banking, public and social banking solutions.

BELFIUS BANK provides products and services in the areas of retail banking, corporate banking, securities services. BELFIUS BANK offers a range of products including current accounts, savings accounts, time deposit accounts, credit cards, consumer loans (6.50 – 6.50 %), car loans (0.80 – 1.15 %), mortgage loans.

BELFIUS BANK is the 3rd largest bank in Belgium in terms of total assets. In 2019 its total assets were 150,72 bln EUR, providing the bank with the market share of 15.70%.

ING BELGIUM

Rank by Total Assets

4

Customer Rating

 (3.3; 11 ratings)

Country of Origin

 Netherlands

ING Belgium provides a wide range of financial products to its customers via various distribution channels for example, mobile devices, the Internet, telephones or in a branch. ING Belgium operates as a universal bank offering its products and services in retail and private banking, corporate and institutional banking, financial markets, asset management and insurance (life and non-life). ING Belgium serves individuals, small and medium sized companies, instititutionals and large corporates.

ING BELGIUM provides products and services in the areas of retail banking, private banking, corporate banking, securities services. ING BELGIUM offers a range of products including current accounts, savings accounts, time deposit accounts, credit cards, consumer loans (7.20 – 7.20 %), car loans (1.25 – 4.49 %), mortgage loans.

ING BELGIUM is the 4th largest bank in Belgium in terms of total assets. In 2019 its total assets were 137,32 bln EUR, providing the bank with the market share of 14.31%.

ARGENTA SPAARBANK

Rank by Total Assets

5

Customer Rating

 (3.0; 1 ratings)

Country of Origin

 Belgium

Argenta Group was founded in 1956 in Belgium as a financial services company specializing in personal loans. Argenta Spaarbank (Argenta Savings Bank) is a member of Argenta Group, focused on providing savings and investment, loans and insurance products and services to natural persons. Argenta Spaarbank is active in the domestic markets, namely Belgium, Luxembourg and the Netherlands.

ARGENTA SPAARBANK provides products and services in the areas of retail banking, insurance. ARGENTA SPAARBANK offers a range of products including current accounts, savings accounts, time deposit accounts, credit cards, consumer loans (5.90 – 5.90 %), car loans (1.25 – 3.95 %), mortgage loans. ARGENTA SPAARBANK makes its solutions available to natural persons.

ARGENTA SPAARBANK is the 5th largest bank in Belgium in terms of total assets. In 2019 its total assets were 39 118,39 mln EUR, providing the bank with the market share of 4.08%.

Currently Operating Banks

In Belgium there are 24 domestic banks, 11 foreign-controlled banks from 8 countries and 58 branches of foreign banks from 16 countries.

Name Total Assets Country of Origin Business Focus
ABK Bank CVBA 0.00  Belgium asset management
ABN AMRO Bank NV 5302.36  Netherlands private and business banking
Adyen BV, Belgian Branch  Netherlands online payments
AION 0.00  Belgium retail and business banking
ARGENTA SPAARBANK 39118.39  Belgium retail banking
ARKEA DIRECT BANK 11329.71  France retail banking via direct channels
Attijariwafa Bank Europe 65.52  Morocco banking for Moroccan and Tunisian community
AXA BANK BELGIUM 24631.16  Belgium retail banking
BANCO BILBAO VIZCAYA ARGENTARIA 439.84  Spain corporate and investment banking
Banco Santander SA 0.00  Spain consumer finance
BANK DEGROOF PETERCAM 5391.97  Belgium private banking and asset management
BANK J.VAN BREDA & C° 6331.99  Belgium SME banking
BANK OF AMERICA MERRILL LYNCH INTERNATIONAL DESIGNATED ACTIVITY COMPANY 2521.69  United States investment banking
Bank of Baroda 1446.83  India retail and business banking
BANK OF CHINA (LUXEMBOURG) 1410.67  China corporate and investment banking
BANK OF INDIA 211.50  India corporate banking
BANQUE CHAABI DU MAROC 18.85  Morocco banking for Moroccan community
BANQUE CPH 2741.52  Belgium regional retail banking
BANQUE DE LUXEMBOURG 1015.52  Luxembourg private banking and asset management
BANQUE DEGROOF PETERCAM LUXEMBOURG SA 8.26  Belgium private banking and asset management
BANQUE ENI 629.40  Italy financial services to Eni Group companies
BANQUE NAGELMACKERS 5877.70  Belgium private banking
BANQUE TRANSATLANTIQUE BELGIUM 553.13  France private banking and asset management
BARCLAYS BANK IRELAND Plc  United Kingdom corporate and investment banking
BELFIUS BANK 150720.00  Belgium universal banking
BEOBANK NV/SA 6803.90  France retail banking
BinckBank NV 774.36  Netherlands online brokerage
BNP Paribas Fortis 223428.07  France universal banking
BNP Paribas 0.00  France universal banking
BNP PARIBAS SECURITIES SERVICES 628.92  France securities services
BPOST BANK 11564.50  Belgium retail banking
BYBLOS BANK EUROPE 1013.52  Lebanon corporate banking
CA Indosuez Wealth (Europe) 740.64  France wealth management
CACEIS Bank 219.78  France securities services
CAISSE D’EPARGNE ET DE PREVOYANCE HAUTS DE FRANCE 516.40  France regional retail banking
CBC Banque 13120.88  Belgium universal banking
CBP Quilvest Belgium N.V./S.A., Branch of CBP Quilvest SA 0.00  Luxembourg wealth management
Centrale Kredietverlening 943.44  Belgium savings products
CITIBANK EUROPE PLC – BELGIUM BRANCH 263.52  United States corporate and investment banking
Citibank International Limited 0.00  United States corporate and investment banking
CNH INDUSTRIAL CAPITAL EUROPE 157.66  United States agricultural and construction equipment finance
CNH INDUSTRIAL FINANCIAL SERVICES 139.52  United States agricultural and construction equipment finance
COMMERZBANK 0.00  Germany corporate banking
Coöperatieve Rabobank U.A. 7661.24  Netherlands retail banking via direct channels
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK 667.89  France corporate and investment banking
CREDIT EUROPE BANK NV 8.71  Netherlands universal banking
CREDIT FONCIER DE FRANCE  France mortgage loans
CREDIT FONCIER ET COMMUNAL D’ALSACE ET DE LORRAINE-BANQUE 21.99  France mortgage loans
CREDIT INDUSTRIEL ET COMMERCIAL  France corporate banking
CRELAN 15714.07  Belgium universal banking
DELEN PRIVATE BANK 1893.43  Belgium asset management
DEMIR – HALK BANK NEDERLAND 149.25  Netherlands retail banking
DEUTSCHE BANK AG 11951.98  Germany retail banking
Dierickx Leys Private Bank 292.75  Belgium asset and investment management
EDMOND DE ROTHSCHILD( EUROPE) 531.65  Switzerland private banking and asset management
Elavon Financial Services DAC Belgian Branch 0.00  United States payment processing for business clients
EUROCLEAR BANK 24323.96  Belgium securities clearing services
Europabank 1493.40  Belgium retail banking
Fca Bank S.p.a 450.40  Italy financing solutions for FCA brands
HABIB BANK LIMITED 24.59  Pakistan universal banking
Hoist Finance AB  Sweden debt restructuring
HSBC France 511.25  United Kingdom universal banking
Industrial and Commercial Bank of China (EUROPE) SA 841.13  China corporate banking
ING BANK NV Belgian Branch 2300.27  Netherlands universal banking
ING BELGIUM 137324.54  Netherlands universal banking
J.P. Morgan AG  United States investment banking
J.P. MORGAN BANK LUXEMBOURG SA 1636.13  United States investment banking
J.P. MORGAN EUROPE LIMITED, BRUSSELS BRANCH 45.08  United States investment banking
JP MORGAN CHASE BANK, NATIONAL ASSOCIATION 104.13  United States investment banking
Kabushiki Kaisha Mitsui Sumitomo Ginko – Sumitomo Mitsui Banking Corporation 0.00  Japan corporate banking
KBC Bank 178980.02  Belgium retail banking
Keytrade Bank SA 0.00  France online brokerage
Lombard Odier (Europe) SA 504.59  Switzerland private banking and asset management
MeDirect Bank 1909.01  Belgium wealth management
Mizuho Bank Europe 560.82  Japan securities and trading services
MUFG Bank (Europe) NV 1638.93  Japan corporate banking
Natixis Wealth Management Luxembourg 174.76  France wealth management
NEWB  Belgium sustainable retail banking
NIBC Bank NV 0.00  Netherlands universal banking
PUILAETCO DEWAAY PRIVATE BANKERS 1792.82  Belgium private banking and wealth management
ROTHSCHILD MARTIN MAUREL 0.00  France wealth and asset management
SANTANDER CONSUMER BANK 2387.07  Spain consumer finance
Saxo Banque (France) SA 0.00  Denmark online investment and trading services
SHIZUOKA BANK (EUROPE) 522.85  Japan corporate banking
SOCIETE GENERALE 582.75  France universal banking
State Bank of India 1551.56  India corporate banking
The Bank of New York Mellon (Brussels Branch) 0.00  United States investment banking
THE BANK OF NEW YORK MELLON 32747.66  United States investment banking
TRIODOS BANK 2449.79  Netherlands green banking
UNITED TAIWAN BANK 402.10  Taiwan online brokerage
VAN DE PUT & CO Banquiers Privés 144.75  Belgium asset management
Van Lanschot Kempen Wealth Management NV 1298.96  Netherlands private banking and asset management
vdk bank 4258.00  Belgium savings products
 

All the data are for 2019. Total assets are provided in million EUR.

See Also

  • Economy and Banking Sector of Belgium
  • List of Banks in Belgium