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 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.

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 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.

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

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 % FR France
2   KBC Bank 178980.02 18.65 % BE Belgium
3   BELFIUS BANK 150720.00 15.70 % BE Belgium
4   ING BELGIE 137324.54 14.31 % NL Netherlands
5   ARGENTA SPAARBANK 39118.39 4.08 % BE Belgium

BNP Paribas Fortis

Rank by Total Assets
1
Customer Rating
 (3.0; 1 ratings)
Country of Origin
FR 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
BE 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
BE 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 BELGIE

Rank by Total Assets
4
Customer Rating
 (3.3; 11 ratings)
Country of Origin
NL 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 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 SPAARBANK

Rank by Total Assets
5
Customer Rating
 (3.0; 1 ratings)
Country of Origin
BE 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, 12 foreign-controlled banks from 9 countries and 58 branches of foreign banks from 17 countries.

NameTotal AssetsCountry of OriginBusiness Focus
ABK Bank CVBA0.00 BE Belgiumasset management
ABN AMRO Bank NV5302.36 NL Netherlandsprivate and business banking
Adyen BV, Belgian Branch NL Netherlandsonline payments
AION0.00 BE Belgiumretail and business banking
ARGENTA SPAARBANK39118.39 BE Belgiumretail banking
ARKEA DIRECT BANK11329.71 FR Franceretail banking via direct channels
Attijariwafa Bank Europe65.52 MA Moroccobanking for Moroccan and Tunisian community
AXA BANK BELGIUM24631.16 BE Belgiumretail banking
BANCO BILBAO VIZCAYA ARGENTARIA439.84 ES Spaincorporate and investment banking
Banco Santander SA0.00 ES Spainconsumer finance
BANK DEGROOF PETERCAM5391.97 BE Belgiumprivate banking and asset management
BANK DIERICKX LEYS292.75 BE Belgiumasset and investment management
BANK J.VAN BREDA & C°6331.99 BE BelgiumSME banking
BANK OF AMERICA MERRILL LYNCH INTERNATIONAL DESIGNATED ACTIVITY COMPANY2521.69 US United Statesinvestment banking
Bank of Baroda1446.83 IN Indiaretail and business banking
BANK OF CHINA (LUXEMBOURG)1410.67 CN Chinacorporate and investment banking
BANK OF INDIA211.50 IN Indiacorporate banking
Banque Centrale de Compensation0.00 GB United Kingdomsecurities clearing services
BANQUE CHAABI DU MAROC18.85 MA Moroccobanking for Moroccan community
BANQUE CPH2741.52 BE Belgiumregional retail banking
BANQUE DE LUXEMBOURG1015.52 LU Luxembourgprivate banking and asset management
BANQUE DEGROOF PETERCAM LUXEMBOURG SA8.26 BE Belgiumprivate banking and asset management
BANQUE ENI629.40 IT Italyfinancial services to Eni Group companies
BANQUE NAGELMACKERS5877.70 BE Belgiumprivate banking
BANQUE TRANSATLANTIQUE BELGIUM553.13 FR Franceprivate banking and asset management
BARCLAYS BANK IRELAND Plc GB United Kingdomcorporate and investment banking
BELFIUS BANK150720.00 BE Belgiumuniversal banking
BEOBANK NV/SA6803.90 FR Franceretail banking
BinckBank NV774.36 NL Netherlandsonline brokerage
BNP Paribas Fortis223428.07 FR Franceuniversal banking
BNP Paribas0.00 FR Franceuniversal banking
BNP PARIBAS SECURITIES SERVICES628.92 FR Francesecurities services
BPOST BANK11564.50 BE Belgiumretail banking
BYBLOS BANK EUROPE1013.52 LB Lebanoncorporate banking
CA Indosuez Wealth (Europe)740.64 FR Francewealth management
CACEIS Bank219.78 FR Francesecurities services
CAISSE D'EPARGNE ET DE PREVOYANCE HAUTS DE FRANCE516.40 FR Franceregional retail banking
CBC Banque13120.88 BE Belgiumuniversal banking
CBP Quilvest Belgium N.V./S.A., Branch of CBP Quilvest SA0.00 LU Luxembourgwealth management
Centrale Kredietverlening943.44 BE Belgiumsavings products
CITIBANK EUROPE PLC - BELGIUM BRANCH263.52 IE Irelandcorporate and investment banking
Citibank International Limited0.00 GB United Kingdomcorporate and investment banking
CNH INDUSTRIAL CAPITAL EUROPE157.66 US United Statesagricultural and construction equipment finance
CNH INDUSTRIAL FINANCIAL SERVICES139.52 US United Statesagricultural and construction equipment finance
COMMERZBANK0.00 DE Germanycorporate banking
Coöperatieve Rabobank U.A.7661.24 NL Netherlandsretail banking via direct channels
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK667.89 FR Francecorporate and investment banking
CREDIT EUROPE BANK NV8.71 NL Netherlandsuniversal banking
CREDIT FONCIER DE FRANCE FR Francemortgage loans
CREDIT FONCIER ET COMMUNAL D'ALSACE ET DE LORRAINE-BANQUE21.99 FR Francemortgage loans
CREDIT INDUSTRIEL ET COMMERCIAL FR Francecorporate banking
CRELAN15714.07 BE Belgiumuniversal banking
DELEN PRIVATE BANK1893.43 BE Belgiumasset management
DEMIR - HALK BANK NEDERLAND149.25 NL Netherlandsretail banking
DEUTSCHE BANK AG11951.98 DE Germanyretail banking
EDMOND DE ROTHSCHILD( EUROPE)531.65 CH Switzerlandprivate banking and asset management
Elavon Financial Services DAC Belgian Branch0.00 US United Statespayment processing for business clients
EUROCLEAR BANK24323.96 BE Belgiumsecurities clearing services
Europabank1493.40 BE Belgiumretail banking
Fca Bank S.p.a450.40 IT Italyfinancing solutions for FCA brands
HABIB BANK LIMITED24.59 PK Pakistanuniversal banking
Hoist Finance AB SE Swedendebt restructuring
HSBC France511.25 GB United Kingdomuniversal banking
Industrial and Commercial Bank of China (EUROPE) SA841.13 CN Chinacorporate banking
ING BANK NV Belgian Branch2300.27 NL Netherlandsuniversal banking
ING BELGIE137324.54 NL Netherlandsuniversal banking
J.P. Morgan AG US United Statesinvestment banking
J.P. MORGAN BANK LUXEMBOURG SA1636.13 US United Statesinvestment banking
J.P. MORGAN EUROPE LIMITED, BRUSSELS BRANCH45.08 US United Statesinvestment banking
JP MORGAN CHASE BANK, NATIONAL ASSOCIATION104.13 US United Statesinvestment banking
Kabushiki Kaisha Mitsui Sumitomo Ginko - Sumitomo Mitsui Banking Corporation0.00 JP Japancorporate banking
KBC Bank178980.02 BE Belgiumretail banking
Keytrade Bank SA0.00 FR Franceonline brokerage
Lombard Odier (Europe) SA504.59 CH Switzerlandprivate banking and asset management
MeDirect Bank1909.01 BE Belgiumwealth management
Mizuho Bank Europe560.82 JP Japansecurities and trading services
MUFG Bank (Europe) NV1638.93 JP Japancorporate banking
Natixis Weatlth Management Luxembourg174.76 FR Francewealth management
NEWB BE Belgiumsustainable retail banking
NIBC Bank NV0.00 NL Netherlandsuniversal banking
PUILAETCO DEWAAY PRIVATE BANKERS1792.82 BE Belgiumprivate banking and wealth management
ROTHSCHILD MARTIN MAUREL0.00 FR Francewealth and asset management
SANTANDER CONSUMER BANK2387.07 ES Spainconsumer finance
Saxo Banque (France) SA0.00 DK Denmarkonline investment and trading services
SHIZUOKA BANK (EUROPE)522.85 JP Japancorporate banking
SOCIETE GENERALE582.75 FR Franceuniversal banking
State Bank of India1551.56 IN Indiacorporate banking
The Bank of New York Mellon (Brussels Branch)0.00 US United Statesinvestment banking
THE BANK OF NEW YORK MELLON32747.66 US United Statesinvestment banking
TRIODOS BANK2449.79 NL Netherlandsgreen banking
UNITED TAIWAN BANK402.10 TW Taiwanonline brokerage
VAN DE PUT & CO Banquiers Privés144.75 BE Belgiumasset management
Van Lanschot Kempen Wealth Management NV1298.96 NL Netherlandsprivate banking and asset management
vdk bank4258.00 BE Belgiumsavings products
 

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

See Also