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Banking in the Benelux - statistics & facts

The banking sector in the Benelux region has several distinct characteristics. It has a defined international focus, as more than half of the banks in all three countries were foreign in 2021. The CET1 ratio of banks in Luxembourg was close to 21.5 percent in 2021, well exceeding the minimum requirements of 4.5 percent. In Belgium and the Netherlands, it was similarly high. Another common characteristic of the banking industry in the Benelux region is the strong online banking penetration: In all three Benelux countries, more than 70 percent of the population accessed online banking sites in 2021.

Which are the largest banks in the Benelux region?

Belfius, KBC, ING Belgium, and BNP Paribas Fortis were the largest banks in Belgium in 2021, not only in terms of assets, but also in terms of bank branches: Belfius alone had over 570 bank offices. Belfius and KBC are domestic banks, while the other two are Belgian branches of foreign banks. The banking industry in the Netherlands was more domestic, the three largest banks in the country by number of branches were all headquartered in the Netherlands. RegioBank had the highest number of branches, but ING was the leading bank by total assets. Luxembourg's banking market was more international-minded than the markets in Belgium and the Netherlands. The leading domestic bank in Luxembourg by number of branches was Banque et Caisse d’Epargne de l’Etat (BCEE) in 2021.

How big is the banking sector in the Benelux countries?

The size of the banking sectors in the three Benelux countries were all among the top ten in Europe in 2020. The banking sector in the Netherlands was the largest of the three countries, and the seventh largest in Europe. Dutch banking sector had assets worth approximately 3 trillion U.S. dollars in 2020. The banking sector in Belgium was the ninth largest, with total assets of 1.36 trillion U.S. dollars. Despite its small population size, Luxembourg’s banking sector was the 10th largest in Europe, with assets of more than 1 trillion U.S. dollars.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Oct 18, 2022

Key insights

Banking assets in Belgium
1,688bn EUR
Banking assets in the Netherlands
2.57tr EUR
Banking assets in Luxembourg
921.4bn EUR
Get more insights

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Biggest banks of Belgium 2022, based on number of branches

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Netherlands: monthly assets MFIs and the central bank 2018-2022

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Banking in the Netherlands
Banking in the Netherlands
Banking in Belgium
Banking in Belgium
Online banking in the Benelux
Online banking in the Benelux
The financial sector in Luxembourg
The financial sector in Luxembourg
Largest banks in the Benelux
Largest banks in the Benelux

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