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 | ![]() |
223428.07 | 23.28 % | |
2 | ![]() |
178980.02 | 18.65 % | |
3 | ![]() |
150720.00 | 15.70 % | |
4 | ![]() |
137324.54 | 14.31 % | |
5 | ![]() |
39118.39 | 4.08 % |
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 |
---|---|---|---|
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0.00 | asset management | |
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5302.36 | private and business banking | |
![]() |
online payments | ||
![]() |
0.00 | retail and business banking | |
![]() |
39118.39 | retail banking | |
![]() |
11329.71 | retail banking via direct channels | |
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65.52 | banking for Moroccan and Tunisian community | |
![]() |
24631.16 | retail banking | |
![]() |
439.84 | corporate and investment banking | |
![]() |
0.00 | consumer finance | |
![]() |
5391.97 | private banking and asset management | |
![]() |
6331.99 | SME banking | |
![]() |
2521.69 | investment banking | |
![]() |
1446.83 | retail and business banking | |
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1410.67 | corporate and investment banking | |
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211.50 | corporate banking | |
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18.85 | banking for Moroccan community | |
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2741.52 | regional retail banking | |
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1015.52 | private banking and asset management | |
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8.26 | private banking and asset management | |
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629.40 | financial services to Eni Group companies | |
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5877.70 | private banking | |
![]() |
553.13 | private banking and asset management | |
![]() |
corporate and investment banking | ||
![]() |
150720.00 | universal banking | |
![]() |
6803.90 | retail banking | |
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774.36 | online brokerage | |
![]() |
223428.07 | universal banking | |
![]() |
0.00 | universal banking | |
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628.92 | securities services | |
![]() |
11564.50 | retail banking | |
![]() |
1013.52 | corporate banking | |
![]() |
740.64 | wealth management | |
![]() |
219.78 | securities services | |
![]() |
516.40 | regional retail banking | |
![]() |
13120.88 | universal banking | |
![]() |
0.00 | wealth management | |
![]() |
943.44 | savings products | |
![]() |
263.52 | corporate and investment banking | |
![]() |
0.00 | corporate and investment banking | |
![]() |
157.66 | agricultural and construction equipment finance | |
![]() |
139.52 | agricultural and construction equipment finance | |
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0.00 | corporate banking | |
![]() |
7661.24 | retail banking via direct channels | |
![]() |
667.89 | corporate and investment banking | |
![]() |
8.71 | universal banking | |
![]() |
mortgage loans | ||
![]() |
21.99 | mortgage loans | |
![]() |
corporate banking | ||
![]() |
15714.07 | universal banking | |
![]() |
1893.43 | asset management | |
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149.25 | retail banking | |
![]() |
11951.98 | retail banking | |
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292.75 | asset and investment management | |
![]() |
531.65 | private banking and asset management | |
![]() |
0.00 | payment processing for business clients | |
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24323.96 | securities clearing services | |
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1493.40 | retail banking | |
![]() |
450.40 | financing solutions for FCA brands | |
![]() |
24.59 | universal banking | |
![]() |
debt restructuring | ||
![]() |
511.25 | universal banking | |
![]() |
841.13 | corporate banking | |
![]() |
2300.27 | universal banking | |
![]() |
137324.54 | universal banking | |
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investment banking | ||
![]() |
1636.13 | investment banking | |
![]() |
45.08 | investment banking | |
![]() |
104.13 | investment banking | |
![]() |
0.00 | corporate banking | |
![]() |
178980.02 | retail banking | |
![]() |
0.00 | online brokerage | |
![]() |
504.59 | private banking and asset management | |
![]() |
1909.01 | wealth management | |
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560.82 | securities and trading services | |
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1638.93 | corporate banking | |
![]() |
174.76 | wealth management | |
![]() |
sustainable retail banking | ||
![]() |
0.00 | universal banking | |
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1792.82 | private banking and wealth management | |
![]() |
0.00 | wealth and asset management | |
![]() |
2387.07 | consumer finance | |
![]() |
0.00 | online investment and trading services | |
![]() |
522.85 | corporate banking | |
![]() |
582.75 | universal banking | |
![]() |
1551.56 | corporate banking | |
![]() |
0.00 | investment banking | |
![]() |
32747.66 | investment banking | |
![]() |
2449.79 | green banking | |
![]() |
402.10 | online brokerage | |
![]() |
144.75 | asset management | |
![]() |
1298.96 | private banking and asset management | |
![]() |
4258.00 | 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
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