Top Banks in Belgium
It has the most advanced and liberal banking system in the world.
The most advanced and liberal banking system in the world is the one found in Belgium. Neighboring nations like Germany, France, the Netherlands, and Luxembourg significantly influence the banking industry in Belgium.
In Belgium, there are more than 140 active banking locations. Only 10% of transactions in Belgium are made in cash; most banking activity there is done electronically. It is one of Europe's biggest banking and financial centers.\
One of the major banking and financial hubs of the European Union, Belgium has a sophisticated banking system. In Belgium constantly, 95 various banks are in operation.
Most foreign-owned banks operate 3,195 branches and provide services (increasing to 5,896 when independent bank agent branches are included).
The National Bank of Belgium is the nation's Central Bank; half of it is held by the government, and the other half is traded as a share on Euronext Brussels. In Belgium, the Financial Services and Markets Authority oversees banking.
When it comes to digital financial payments, Belgium was a pioneer. Along with conventional banking options, mobile banking is extensively available in Belgium.
There are numerous ways to pay within the Belgian financial system. Which international Belgian bank provides the best credit rate, you ask? And which of them provides the best terms and the clearest contracts? The most popular and dependable banks in Belgium are listed below.
Top Banks in Belgium: BNP Paribas
The largest bank in Europe and one with operations in 73 nations is BNP Paribas. BNP Paribas Fortis is a subsidiary of the BNP Paribas Fortis, based in Belgium.
BNP Paribas owns 9.375 billion euros ($9.375 billion) of the total share capital. Customers can choose from a full range of financial products and services from the bank.
Its three main offerings are:
- retail banking,
- business, institutional banking, and
- investment solutions.
In the first half of 2018, BNP bank in Belgium reported a profit of EUR 2588 Million, which is 1.50 percent more than in the same period in 2017.
BNP Paribas Group and Belgian Fortis Bank combined in 2009 to establish BNP Paribas Fortis. BNP Paribas Fortis provides various financial products and services to various clientele, including individuals, families, high-net-worth clients, business owners, local governments, and the social sector.
Regarding total assets, BNP Paribas Fortis is the top bank in Belgium. With 247,04 billion euros in total assets in 2020, the bank held a 22.22% market share.
Fitch and Moody have rated BNP Paribas Fortis. The bank's long-term credit grade from Fitch is A+ (high credit quality). The bank's long-term credit rating from Moody's is Aa3 (high grade). Participating in Belgium's deposit guarantee program is BNP Paribas Fortis.
KBC
KBC is the second-largest bank in Belgium, with over 40,000 brilliant staff and 3.8 million local clients.
Located mostly in Belgium, Slovakia, the Czech Republic, Ireland, Hungary, and Bulgaria, KBC is a bank-insurance conglomerate. More than 1,150 branches, including 440 in Belgium and 310 insurance agents, and numerous distribution methods in Central and Eastern Europe, are used to provide services.
In Belgium, KBC is regarded as the top bank by Global Finance. On June 28, 2022, the company's market value was €24 billion. The two banks (Credit Bank and CERA Bank) and a Belgian insurance firm merged to establish KBC in 1998. (ABB insurance).
According to KBC's CEO on February 14, 2019, this outcome was attained due to the increased net interest revenue and stringent cost management.
KBC Belgium has 3.5 million customers in Belgium and 585 bank branches, and 374 insurance agents. (2022)
Rated by Fitch and Moody's is KBC Bank. The bank's long-term credit grade from Fitch is A+ (high credit quality). The bank's long-term credit rating from Moody's is Aa3 (high grade). The Belgian deposit guarantee program includes KBC Bank.
Belfius Bank
The Federal State of Belgium owns the Belgian banking and insurance firm Belfius Bank (formerly Dexia Bank).
Belfius Bank is concentrated on offering retail banking goods and services to Belgian private citizens, independent contractors, professionals, and SMEs. Additionally, Belfius Bank provides business, public, and social banking solutions.
Belfius is a banking and insurance company with its main office in Brussels. It has roughly 530 branches and 6,500 employees and is the third-largest bank in Belgium in terms of assets. With 1.4 million mobile customers, it is also a market leader in mobile banking.
It had total assets of €192 billion as of December 31, 2021, loans and advances of €103 billion, and borrowings and deposits of €104 billion.
Both Fitch and Moody have rated BELFIUS BANK. The bank's long-term credit grade from Fitch is A- (high credit quality).
The bank's long-term credit rating from Moody's is Aa3 (high grade). Participating in Belgium's deposit guarantee program is BELFIUS BANK. Accounts up to 100,000 EUR per bank and depositor are covered under this program.
ING Belgium
Belgium ING It is a subsidiary of the ING group, formerly known as Bank Brussel Lambert. It offers a wide variety of financial products through various channels to all of its customers.
This bank joined the ING group in 1998. Retail and private banking clients, institutional clients from small and medium-sized businesses, and institutional clients from large corporations make up ING Belgium banks' clientele. 2018 second quarter net result for ING was 1.429 Billion Euros.
Customers of ING Belgium can access various financial products from the company through several different channels, including mobile phones, the Internet, telephones, and branch locations.
A universal bank, ING Belgium provides its goods and services in the:
- insurance,
- financial markets,
- corporate and institutional banking,
- retail and private banking, and
- asset management (life and non-life).
They serve individuals, small and medium-sized businesses, institutions, and corporations.
In terms of total assets, ING Belgium is the fourth-largest bank in Belgium. With 138,31 billion euros in total assets in 2020, the bank had a market share of 12.44%.
Fitch and Moody have assigned ING Belgium ratings. The bank's long-term credit grade from Fitch is AA- (very high credit quality). The bank's long-term credit rating from Moody's is Aa3 (high grade).
Participating in Belgium's deposit guarantee program is ING BELGIUM. Accounts up to 100,000 EUR per bank and depositor are covered under this program.
Argenta Bank
Argenta Bank is a 1956-founded Belgian bank with 481 locations. It also operates in Luxembourg and the Netherlands, offering banking and insurance services in all three countries.
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During the first quarter of 2018, the bank had a profit of 94 million euros, down from 109 million euros in the same quarter of 2017. The amount of client money under administration increased by 3% to 45.3 billion euros.
Argenta has temporarily lowered the rates on its renovation and ecological renovation loans to 2.50% and 1.50%, respectively. The fourth-largest bank in Belgium is Argenta.
It maintains a network of 415 branch sites throughout Belgium, has a presence in the Netherlands, has 1.75 million customers, and has roughly 1,100 workers.
The corporation, with its headquarters in Antwerp, conducts business through its two principal subsidiaries, Argenta Spaarbank and Argenta Assurances. The Group reported total assets of €56 billion and a net profit of €268 million for the fiscal year that ended on December 31, 2021.
With 42 429,81 million EUR in total assets in 2020, the bank had a market share of 3.82%.
Participating in Belgium's deposit guarantee program is Argenta Spaarbank.
Accounts up to 100,000 EUR per bank and depositor are covered under this program.
Delen Private Bank
Private wealth management is a specialty of Antwerp-based Delen Private Bank. It provides institutional services, estate planning, and discretionary asset management.
The two dependable stockholders of the business are the Delen family and the Ackermans & van Haaren group. Over $54 Billion in assets are being managed by the Bank (AUM).
When founded in 1936, it was run as an exchange office. Banking and insurance are the two main services provided. The bank is now a component of the Finaxis holding group.
The bank specializes in providing stock brokerage and private wealth management services. Additionally, it provides some specialized asset management services, like discretionary management.
The bank is a pioneer in estate planning, which includes asset planning and structural analysis. In a nutshell, Delen Private Bank promotes a sustainable, smart, and effective strategy that puts the needs of the client and his family first.
This strategy is obviously popular with their clients because the bank is expanding quickly, employs more than 460 people in Belgium, and has 14 locations spread out over the nation.
The Delen Group also conducts business in Switzerland, the United Kingdom, and the other Benelux nations. On December 31, 2021, the Delen Group will have 54.3 billion euros in assets under management. The Jacques Delen family and the publicly traded company Ackermans & van Haaren are two reliable shareholders in the Group.
Sumitomo Mitsui Banking Corporation
A component of the Japanese financial conglomerate Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corporation (SMBC) was founded in 2001.
A universal bank, SMBC provides a wide range of services and products for investment, corporate, and retail banking. As a division of Sumitomo Mitsui Banking Corporation, Kabushiki Kaisha Mitsui Sumitomo Ginko-Sumitomo Mitsui Banking Corporation conducts business (Japan).
Mitsui Kabushiki Kaisha According to total assets, Sumitomo Ginko - Sumitomo Mitsui Banking Corporation is the fifth-largest bank in Belgium. With 75 306,50 million EUR in total assets in 2020, the bank had a market share of 6.77%.
They provide various commercial and investment banking services to their corporate, institutional, and municipal clients, supported by the capital strength of SMBC Group and the value of its partnerships in Asia.
They link the organization's worldwide network and a variety of clientele to regional marketplaces.
The operating companies of the Group in the Americas include:
- SMBC Nikko Securities America, Inc.,
- SMBC Capital Markets, Inc.,
- SMBC Rail Services LLC,
- Manufacturers Bank,
- JRI America, Inc.,
- SMBC Leasing and Finance, Inc.,
- Banco Sumitomo Mitsui Brasileiro S.A., and
- Sumitomo Mitsui Finance and Leasing Co., Ltd.
National Bank of Belgium
Established in 1850, the National Bank of Belgium is the country's central bank. The National Bank of Belgium governor is a member of the Eurosystem's governing council, which makes major decisions.
The decision is prepared and carried out with input from the National Bank of Belgium. On a national and international scale, the National Bank of Belgium carries out responsibilities of universal interest.
The free flow of capital is not restricted in the Belgian banking system, and there are few regulatory constraints.
The Banking, Finance, and Insurance Commission (BFAC) kept an eye on the operations of financial institutions such as banks, investment funds, stockbrokers, and holding corporations.
Customers can choose from a wide variety of flexible services offered by Belgian banks.
Due to changes and restructuring in the regulatory environment, the National Bank's 2018 financial stability reports find that the banking and insurance sectors are strong and robust. However, some of the difficulties still call for special attention.
According to the most recent statistics on international commerce, Belgium saw a record trade deficit in July 2022 of €5.5 billion, primarily due to increased energy costs.
The entrance of a new COVID-19 medicament on our soil drove import growth, and the natural gas trade overseas grew strongly.
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