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