Largest banks in Belgium 2023, by assets

 The Belgian banking industry in 2023 was dominated by four large banks, with BNP Paribas Fortis leading the pack with assets worth roughly 374 billion euros. This marked a slight increase in assets compared to the previous year. BNP Paribas Fortis was followed closely by KBC, with assets close to 347 billion euros. 

Bank asset trends

Between the fourth quarter of 2014 and the third quarter of 2023, Belgium's banking industry witnessed fluctuations in total assets, reflecting the dynamic economic landscape. Starting at 996.34 billion euros in the fourth quarter of 2014, total assets experienced periodic increases and declines, reaching a peak of 1,226.3 billion euros in the second quarter of 2022 before amounting to 1179.48 billion euros by the third quarter of 2023. These variations illustrate the industry's resilience in navigating through different financial conditions during this period.

Performance metrics

The return on equity (ROE) of the Belgian banking industry fluctuated between five and 10 percent from the fourth quarter of 2014 to the fourth quarter of 2023, with the most notable drop occurring in the first quarter of 2021, linked to the economic contraction caused by the COVID-19 pandemic. Additionally, the Common Equity Tier 1 (CET1) ratio of the Belgium banking industry increased overall between 2016 and 2023, despite some fluctuations, with the third quarter of 2023 seeing a CET1 ratio of 16.88 percent, although this marked a decrease compared to the previous quarter.