Belgium is one of the pioneers of a cashless society, with 90% of transactions in the country done electronically. Therefore, its best banks are demonstrating excellent online and mobile banking tools.
Belgian banking system is considered one of the most sophisticated and liberalized in the world. The majority of banking institutions nationwide are the subsidiaries of foreign banks, while only about 20% of banks are native.
Here is the list of the top banks in Belgium rated by total assets.
1.BNP Paribas Fortis. Total Assets: €2.7T
2.KBC. Total Assets: €390.7B
3. The Bank of New York Mellon SA/NV. Total Assets: €356.5B
4. Belfius. Total Assets: €187.2B
5. ING Belgium. Total Assets: €163.1B
6. Argenta Spaarbank. Total Assets: €59.2B
7. AXA Bank Belgium/Crelan. Total Assets: €55,8B
BNP Paribas Fortis
BNP Paribas Fortis offers a comprehensive range of financial products and services to individuals including high-net-worth individuals, private entrepreneurs, professionals, SMEs and large institutions. The traditional retail and investment banking services are supplemented by leasing, cash management, export financing, private equity, and corporate finance. BNP Paribas Real Estate subsidiary also offers real estate services (transactions, advice, assessment, asset and investment management) to its professional and institutional customers, investors and real estate developers. Hello bank! is the mobile brand of BNP Paribas Fortis, offering an all-inclusive free current account and a number of paid services.
In the first quarter of 2025, the Belgian retail banking arm of BNP Paribas, reported €4.74 billion in revenue, marking a 3.0% decline compared to the same period in 2024. However, the international banking group as a whole achieved a 3.8% year-on-year increase in net banking income, reaching €12.96 billion in Q1 2025. The Commercial & Personal Banking in the Eurozone division, which includes operations in Belgium, also reported growing revenues of €3.47 billion, a 1.0% increase from Q1 2024.
KBC
KBC is an international bank-insurer formed in 1998 after the merger of two Belgian banks (Kredietbank and CERA Bank) and a Belgian insurance company (ABB Insurance). The institution offers retail banking, insurance and asset management, corporate banking, private banking, leasing, factoring, reinsurance, private equity, project and trade finance, etc. It has 12 million clients, about 1300 bank branches and hundreds of insurance agents. Their highly-rated mobile app also incorporates third-party non-banking services like paying for parking or public transportation. Since the end of November 2020, private customers at KBC have been able to use the services of Kate, their customized digital assistant in KBC Mobile. The algorithm already understands 90% of questions asked, but can’t always link them to a solution. Its advanced version is not a simple chat bot, but a true personal assistant that gives sound financial advice analyzing your individual factors.
In the first quarter of 2025, KBC Group reported a net profit of €546 million, reflecting an 8% year-over-year increase. This growth was driven by higher revenues from net interest income, fees, commissions, and the bank’s insurance business. However, the Belgium segment reported a net result of €281 million, which, at first glance, was down 42% compared to the previous quarter. And yet, excluding the substantial bank and insurance taxes, traditionally recorded in the first quarter, the net result for Belgium was up 23% quarter-on-quarter.
The Bank of New York Mellon SA/NV
BNY Mellon is an American investment banking services holding company headquartered in New York City. It is one of the oldest banking corporations globally, and the world’s largest custodian bank and asset servicing company, with $2T in assets under management (AUM) and $53.1 trillion in assets under custody and/or administration, as of March 31, 2025. The Bank of New York Mellon SA/NV is the official European bank entity of BNY Mellon in Europe. It provides financial services, primarily comprising asset servicing products focused on global custody and collateral management, to international securities market participants. The subsidiary’s assets under custody or administration grew to about €3.86 trillion in 2024-2025.
Belfius
Belfius is a state-owned bank. It was nationalized in 2011, after its former owner Dexia saw the liquidity problems mounted for the second time. This bank-insurer caters to financial needs of individuals and businesses, offering retail banking, asset management, insurance, customer support on the capital markets, private equity, institutional investments, leasing, and cash flow management for almost all local authorities. Currently, the number of bank’s customers is over 3.8 million and they can get assistance at 450 local Belfius branches, modern interaction platform, Belfius Connect, and a large number of automatic self-banking machines. Belfius’ mobile app has recently become increasingly popular, with 2.1 million active users who log in an average of 38 times per month. Additionally, the Belfius chatbot is experiencing a growing number of interactions, averaging 58,000 per month. Due to the partnership between Belfius and Proximus, a provider of digital services and communication, Proximus customers also have access to an exclusive and innovative digital banking offer via the neobank “Banx byBelfius”.
In 2024, Belfius Bank reported a consolidated net income before tax of €1.493 billion, a slight decrease from €1.513 billion in 2023. The total income for the year reached €3.259 billion, up from €3.141 billion in 2023.
ING Belgium
ING Belgium, former Banque Bruxelles Lambert (BBL) has been a part of ING Group since 1998. It was created as a result of the merger of two banks with 150+ years of history. The bank today offers daily banking, lending, savings, investments, insurance and retirement services to individuals, businesses, and public institutions. There are over 200 branches of ING Belgium across the country, serving about 3 million customers. In addition, almost two million customers manage their banking affairs online, in the ING Banking app and via ING Home’Bank. Since March 2021, the app users can also use OneView subscription manager with an innovative “Switch” feature. It allows you to check on current and dormant subscriptions based on your account information and recurrent payments, manage them automatically in-app without personal contacts with the subscription provider and administrative chores, compare energy suppliers or mobile providers and make the switch to a greener energy package immediately.
ING Belgium posted a pre-tax profit result of €406 million, a 33.1% decrease compared to €608 million in the same period of 2024. Despite the decrease in pre-tax profit, the bank closed the first half of 2025 with €112 billion in deposits, marking a year-on-year increase of €6.3 billion. As for the ING Group, it reported a pre-tax profit of €2,124 million in the first quarter of 2025, reflecting a 7.4% decrease compared to the same period in 2024. This decline was attributed to weaker net interest income, partially offset by strong growth in fee income and mortgage volumes.
Argenta Spaarbank
Argenta Group provides retail financial services for families in Belgium and the Netherlands through Argenta Spaarbank (banking) and Argenta Assuranties (insurance). Argenta was founded in 1956 by Karel Van Rompuy as a company specializing in personal loans. Until today, the Van Rompuy family is still the majority shareholder. Argenta Spaarbank was established in 1966 and the range of offered services was diversified. The bank serves over 1.83 million customers with savings, lending, insurance and investments solutions. The group operates in Belgium through an extensive network of local self-employed tied agents. As for the digital services, Argenta’s mobile app is highly rated by its users. Additionally, the bank is partnering with Cake – the Belgian bank-independent app that allows to manage accounts from different banks – to allow Argenta customers to enjoy the Cake cashbacks without having to install the Cake banking app. Argenta, along with other Belgian banks, also joined the European Payments Initiative to introduce the Wero digital wallet to its customers in 2026.
In its annual 2024 report, Argenta disclosed the net profit of €273 million, an increase of €30 million compared to the previous year. Its asset management income also increased by €39 million (19%) compared to the 2023, driven by favorable markets and high net production.
AXA Bank Belgium/Crelan
As of mid-2025, AXA Bank Belgium no longer exists as a separate entity. It was fully integrated into Crelan in June 2024, forming Belgium’s seventh-largest bank by total consolidated assets (over 55 billion euros, of which 27 billion euros are assets of AXA Bank Belgium). It offers a range of banking products for private and professional customers. This mainly concerns loans, investment solutions, current banking transactions and securities accounts. Upon the merger, approximately 850,000 AXA Bank clients were migrated to Crelan’s platform, while over 300 AXA Bank branches integrated into Crelan’s infrastructure.
Following the integration into Crelan, the combined entity reported net profit of €192.3 million.
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Belgium’s commitment to digital banking is highlighted not only by the extensive use of electronic transactions but also through its innovative approaches to fintech solutions. Several Belgian banks are integrating blockchain technology to enhance security and efficiency in transactions. Such advancements are crucial in a cashless society, allowing for faster, more secure, and transparent transactions.
Furthermore, the issue of digital inclusivity is also addressed through various government-backed programs that aim to ensure all citizens, including the elderly and less technologically adept, have access to and can benefit from digital banking services. These programs often include training workshops and accessible technology initiatives.
In addition to individual banking advancements, Belgian banks are actively participating in international sustainability projects. These projects involve green bonds and other financial products that support environmental projects, reflecting a shift towards more socially responsible banking.
The data privacy measures Belgian banks adopt are among the strictest in Europe, ensuring compliance with GDPR and other local data protection regulations. This is crucial for maintaining consumer trust in an era where digital transactions are dominant.
This article was updated on Sept. 29, 2025 to reflect the latest financial data for the banking groups, as well as the fact that AXA Bank Belgium no longer exists as a standalone entity and is now part of Crelan.
