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 94 operating in the country there are 24 domestic banks, 12 subsidiaries of foreign banks, and 58 branches of foreign banks from 19 countries. During 2013-2020 36 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.
Out of 94 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 BELGIE||137324.54||14.31 %||Netherlands|
|5||ARGENTA SPAARBANK||39118.39||4.08 %||Belgium|
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 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 (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 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 provides products and services in the areas of retail banking, private banking, corporate banking, securities services. ING BELGIE 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 BELGIE 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 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%.
In Belgium there are 24 domestic banks, 12 foreign-controlled banks from 9 countries and 58 branches of foreign banks from 17 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 DIERICKX LEYS||292.75||Belgium||asset and investment 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 Centrale de Compensation||0.00||United Kingdom||securities clearing services|
|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||Ireland||corporate and investment banking|
|Citibank International Limited||0.00||United Kingdom||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|
|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|
|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|
|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|
|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 BELGIE||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 Weatlth 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.