The Belgian banking system consists of about 90 registered credit institutions of which 55 are subsidiaries and branches of foreign banks, 14 with majority Belgian ownership and 18 with majority foreign ownership. As of December 2018, the Belgian banking sector’s consolidated total assets based on IFRS reached approximately €1.0 trillion. Overall the banks have about 3,200 branches, 13,730 ATMs and employ around 55,000 employees. The four largest Belgian banks are KBC, BNP Paribas Fortis, Belfius and ING Belgique. BFAC (Banking, Finance and Insurance Commission) supervises the Belgian financial market in coordination with Central Bank (The National Bank of Belgium).

BNP Paribas Fortis

Established in 1990, it is the largest bank in Belgium with total assets of €291.3 billion, customer loans €179.3 billion and customer deposits of €174.4 billion as of December 31, 2018. It offers a comprehensive range of financial products and services to retail customers, SMEs, high net worth individuals, corporations, public entities and local authorities. The Bank is active in the following business areas: Retail & Private Banking (RPB), Corporate & Public Banking, Corporate & Investment Banking and Investment Solutions. BNP Paribas Fortis operates through an extensive network of about 700 branches and 3,255 ATMs as well as through such brands as Fintro, BPost bank and Hello bank! (an online and mobile bank) offering savings and current accounts, mortgages, insurance and prepaid and credit cards. BNP Paribas Fortis operates as a subsidiary of French giant BNP Paribas.

KBC Group

KBC Group is the second largest bank in Belgium with over 1,380 branches, 11 million clients and 42,000 employees. KBC is a bank-insurance group operating primarily in Belgium, Slovakia, the Czech Republic, Ireland Hungary and Bulgaria. The company focuses on retail and private banking, SME and mid-cap customers. It provides insurance services through more than 400 agencies in Belgium as well as through various distribution channels in Central and Eastern Europe. As of March 31, 2019, KBC reported €292.332 billion in total assets, €198 billion in customer deposits and €148.5 billion in loans. The company’s market capitalization is US$27 billion as of September 30, 2019.

Belfius Bank

Belfius Bank is a Belgian banking and insurance group headquartered in Brussels. It is the third largest retail bank and the 2nd largest retail bank insurer in the country with more than 3.6 million customers, 650 branches and 6,490 employees. It is also one of the leaders in mobile banking with 1.3 million mobile users. The company operates through the following business lines: Retail & Commercial Banking, Public & Corporate Banking, and Insurance. Belfius Insurance is ranked 5th on the local insurance market. As at 31 December 2018, the company recorded total assets of €164.165 billion, loans of €91.1 billion and customer deposits of €79.7 billion.

ING Belgium

ING Belgium NV/SA (ING Belgique) is a subsidiary of ING Group, a Dutch banking group. The company provides a comprehensive range of products and services through the following segments: Retail & Private Banking, Corporate & Institutional Banking, Investment Banking, Financial Markets, Asset Management and Insurance. ING is the first universal direct bank in Belgium. It is also one of the three largest operators in the Belgian private banking sector. The company was previously known as Banque Bruxelles Lambert (BBL) and became a wholly-owned subsidiary of ING Group in 1998.


Established in 1956, Argenta Bank- en Verzekeringsgroep nv is the fifth largest bank in Belgium by deposits, with 2,580 employees, 1.75 million customers, 270 offices across Belgium and a presence in the Netherlands and Luxembourg. Headquartered in Antwerp, it operates through its main subsidiaries Argenta Spaarbank and Argenta Assurancies. The company recorded total assets of US$53 billion and profit of US$200 million for the year ended December 2018. Marc Lauwers is Chief Executive Officer (CEO) of Argenta Bank.


Crelan Group is a cooperative bank specialized in the financing of the agricultural sector. It serves over 900,000 customers and 275,000 co-operators through more than 630 branches, and controls Europabank and Crelan Insurance. With about 2,900 employees, it has €16.6 billion in loans and €18.4 billion in deposits. The company is headquartered in Brussels. Philippe Voisin is Chief Executive Officer (CEO) of Crelan.


Beobank NV/SA (formerly Citibank Belgium) provides standard banking products and services including loan and savings products to over 600,000 individuals and business customers through more than 220 branches across the country. It operates as a subsidiary of French Crédit Mutuel Nord Europe. The Bank employs around 1,500 people and is headquartered in Brussels. Guy Schellinck is Chief Executive Officer (CEO) of Beobank.

Delen Private Bank

Delen Private Bank, headquartered in Antwerp, specializes in private wealth management. It offers discretionary asset management, estate planning and institutional services. Delen family and the Ackermans & van Haaren group are the two stable shareholders of the company. Currently the Bank has over US$45 billion in assets under management.

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Updated as of September 30, 2019.