Banks in Belgium

3 October 2019

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 91 operating in the country there are 22 domestic banks, 12 subsidiaries of foreign banks, and 57 branches of foreign banks from 19 countries. During 2013-2019 36 banks were closed down. Consolidated banking assets of banks in Belgium 2.20 times exceed GDP. The banking sector of Belgium is highly-concentrated: 5 largest banks comprise together about 74 % of consolidated banking assets.

Banks in Belgium by Country of Origin

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 91 banks operating in Belgium, there are 5 largest banks comprising together about 74 % of consolidated banking assets, each of the banks has market share of more than 5.0 % of total banking assets. During 2013-2018, total assets of each of the 5 largest banks haven't had significant changes.

Market Shares of Major Banks in Belgium Total Assets of Major Banks in Belgium

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

Rank Bank Name Total Assets (mln EUR) Market Share Country of Origin
1   BNP Paribas Fortis 203699.00 20.12 %  France
2   KBC Bank 178796.80 17.66 %  Belgium
3   BELFIUS BANK 164165.00 16.22 %  Belgium
4   ING BELGIE 133874.07 13.22 %  Netherlands
5   Kabushiki Kaisha Mitsui Sumitomo Ginko - Sumitomo Mitsui Banking Corporation 67829.79 6.70 %  Japan

BNP Paribas Fortis

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 is the 1st largest bank in Belgium in terms of total assets. In 2018 its total assets were 203,70 bln EUR, providing the bank with the market share of 20.12%.

Services
private banking
corporate banking
online brokerage

Products

KBC Bank

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 is the 2nd largest bank in Belgium in terms of total assets. In 2018 its total assets were 178,80 bln EUR, providing the bank with the market share of 17.66%. In 2018 the bank's net income was 2 181,00 mln EUR.

Services
retail banking

Products

BELFIUS BANK

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 is the 3rd largest bank in Belgium in terms of total assets. In 2018 its total assets were 164,17 bln EUR, providing the bank with the market share of 16.22%.

Services
retail banking
corporate banking
securities services

Products

ING BELGIE

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 BELGIE is the 4th largest bank in Belgium in terms of total assets. In 2018 its total assets were 133,87 bln EUR, providing the bank with the market share of 13.22%.

Services
retail banking
private banking
corporate banking
securities services

Products

Kabushiki Kaisha Mitsui Sumitomo Ginko - Sumitomo Mitsui Banking Corporation

Established in 2001 Sumitomo Mitsui Banking Corporation (SMBC) is a member Japanese financial group Sumitomo Mitsui Financial Group. SMBC is a universal bank offering a broad spectrum of retail, corporate and investment banking products and services. Kabushiki Kaisha Mitsui Sumitomo Ginko - Sumitomo Mitsui Banking Corporation operates as a branch of Sumitomo Mitsui Banking Corporation (Japan).

Kabushiki Kaisha Mitsui Sumitomo Ginko - Sumitomo Mitsui Banking Corporation is the 5th largest bank in Belgium in terms of total assets. In 2018 its total assets were 67 829,79 mln EUR, providing the bank with the market share of 6.70%.

Currently Operating Banks

In Belgium there are 22 domestic banks, 12 foreign-controlled banks from 8 countries and 57 branches of foreign banks from 17 countries.

NameTotal AssetsCountry of OriginBusiness Focus
ABK Bank CVBA0.00  Belgiumsavings and investment products
ABN AMRO Bank NV5500.25  Netherlandsuniversal banking
Adyen BV, Belgian Branch (new)  Netherlandsonline payments
AION1251.59  Italyuniversal banking
ARGENTA SPAARBANK36554.38  Belgiumretail banking
ARKEA DIRECT BANK8206.84  Franceretail banking via direct channels
Attijariwafa Bank Europe62.64  Moroccobanking for Moroccan and Tunisian community
AXA BANK BELGIUM22118.05  Belgiumretail banking
BANCO BILBAO VIZCAYA ARGENTARIA405.68  Spaincorporate and investment banking
Banco Santander SA0.00  Spainconsumer finance
BANK DEGROOF PETERCAM5025.19  Belgiumprivate banking and asset management
BANK DIERICKX LEYS324.22  Belgiumasset and investment management
BANK J.VAN BREDA & C°5805.30  BelgiumSME banking
BANK OF AMERICA MERRILL LYNCH INTERNATIONAL DESIGNATED ACTIVITY COMPANY (new)2647.76  United Statesinvestment banking
Bank of Baroda0.00  Indiauniversal banking
BANK OF CHINA (LUXEMBOURG)1272.12  Chinacorporate and investment banking
BANK OF INDIA0.00  Indiacorporate banking
Banque Centrale de Compensation1.11  United Kingdomsecurities clearing services
BANQUE CHAABI DU MAROC14.24  Moroccobanking for Moroccan community
BANQUE CPH2595.01  Belgiumregional retail banking
BANQUE DE LUXEMBOURG725.76  Luxembourgprivate banking and asset management
BANQUE DEGROOF PETERCAM LUXEMBOURG SA5.44  Belgiumprivate banking and asset management
BANQUE ENI1150.39  Italyfinancial services to Eni Group companies
BANQUE NAGELMACKERS5921.61  Belgiumprivate banking
BANQUE TRANSATLANTIQUE BELGIUM466.50  Franceprivate banking and asset management
BELFIUS BANK164165.00  Belgiumuniversal banking
BEOBANK NV/SA6768.95  Franceretail banking
BinckBank NV640.03  Netherlandsonline brokerage
BNP Paribas Fortis203699.00  Franceuniversal banking
BNP Paribas0.00  Franceuniversal banking
BNP PARIBAS SECURITIES SERVICES833.89  Francesecurities services
BPOST BANQUE / BPOST BANK10859.38  Belgiumretail banking
BYBLOS BANK EUROPE934.32  Lebanoncorporate banking
CA Indosuez Wealth (Europe) (new)562.47  Francewealth management
CACEIS Bank (new)177.98  Francesecurities services
CAISSE D'EPARGNE ET DE PREVOYANCE HAUTS DE FRANCE (new)382.13  Franceregional retail banking
CBC Banque12138.57  Belgiumuniversal banking
CBP Quilvest Belgium N.V./S.A., Branch of CBP Quilvest SA (new)0.00  Luxembourgwealth management
Centrale Kredietverlening932.32  Belgiumsavings products
CITIBANK EUROPE PLC - BELGIUM BRANCH (new)276.69  Irelandcorporate and investment banking
Citibank International Limited0.00  United Kingdomcorporate and investment banking
CNH INDUSTRIAL CAPITAL EUROPE0.00  United Statesagricultural and construction equipment finance
CNH INDUSTRIAL FINANCIAL SERVICES90.58  United Statesagricultural and construction equipment finance
COMMERZBANK605.41  Germanycorporate banking
Coöperatieve Rabobank U.A.8140.54  Netherlandsretail banking via direct channels
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK865.59  Francecorporate and investment banking
CREDIT EUROPE BANK NV13.28  Netherlandsuniversal banking
CREDIT FONCIER DE FRANCE  Francemortgage loans
CREDIT FONCIER ET COMMUNAL D'ALSACE ET DE LORRAINE-BANQUE (new)  Francemortgage loans
CRELAN15169.90  Belgiumuniversal banking
DELEN PRIVATE BANK2621.54  Belgiumasset management
DEMIR - HALK BANK NEDERLAND125.53  Netherlandsretail banking
DEUTSCHE BANK AG12791.71  Germanyretail banking
EDMOND DE ROTHSCHILD( EUROPE) (new)677.81  Switzerlandprivate banking and asset management
Elavon Financial Services DAC Belgian Branch0.00  United Statespayment processing for business clients
EUROCLEAR BANK25406.09  Belgiumsecurities clearing services
Europabank1379.97  Belgiumretail banking
Fca Bank S.p.a (new)430.77  Italyfinancing solutions for FCA brands
HABIB BANK LIMITED24.95  Pakistanuniversal banking
Hoist Finance AB (new)  Swedendebt restructuring
HSBC France (new)  United Kingdomuniversal banking
Industrial and Commercial Bank of China (EUROPE) SA714.84  Chinacorporate banking
ING BANK NV Belgian Branch2341.20  Netherlandsuniversal banking
ING BELGIE133874.07  Netherlandsuniversal banking
J.P. Morgan AG (new)  United Statesinvestment banking
J.P. MORGAN BANK LUXEMBOURG SA (new)  United Statesinvestment banking
J.P. MORGAN EUROPE LIMITED, BRUSSELS BRANCH48.26  United Statesinvestment banking
JP MORGAN CHASE BANK, NATIONAL ASSOCIATION107.51  United Statesinvestment banking
Kabushiki Kaisha Mitsui Sumitomo Ginko - Sumitomo Mitsui Banking Corporation67829.79  Japancorporate banking
KBC Bank178796.80  Belgiumretail banking
Keytrade Bank SA0.00  Franceonline brokerage
Lombard Odier (Europe) SA396.75  Switzerlandprivate banking and asset management
MeDirect Bank (new)1643.89  Belgiumwealth management
Mizuho Bank Europe327.63  Japansecurities and trading services
MUFG Bank (Europe) NV (new)675.56  Japancorporate banking
Natixis Weatlth Management Luxembourg (new)121.89  Francewealth management
NIBC Bank NV970.41  Netherlandsuniversal banking
PUILAETCO DEWAAY PRIVATE BANKERS1709.29  Belgiumprivate banking and wealth management
ROTHSCHILD MARTIN MAUREL430.03  Francewealth and asset management
SANTANDER CONSUMER BANK3082.64  Spainconsumer finance
Saxo Banque (France) SA0.00  Denmarkonline investment and trading services
SHIZUOKA BANK (EUROPE)555.99  Japancorporate banking
SOCIETE GENERALE905.36  Franceuniversal banking
State Bank of India1375.51  Indiacorporate banking
The Bank of New York Mellon (Brussels Branch)0.00  United Statesinvestment banking
THE BANK OF NEW YORK MELLON25870.50  United Statesinvestment banking
TRIODOS BANK2183.82  Netherlandsgreen banking
UNITED TAIWAN BANK356.99  Taiwanonline brokerage
VAN DE PUT & CO Banquiers Privés142.69  Belgiumasset management
VAN LANSCHOT NV1255.08  Netherlandsprivate banking and asset management
vdk bank4110.57  Belgiumsavings products
 

All the data are for 2018. Total assets are provided in million EUR.

See Also