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The Belgian banking industry in 2024 was dominated by four large banks, with BNP Paribas Fortis leading the pack with assets worth nearly *** billion euros. This marked a slight increase in assets compared to the previous year. BNP Paribas Fortis was followed closely by KBC, with assets just over *** billion euros. 

Bank asset trends

Between 2014 and 2024, Belgium's banking industry witnessed fluctuations in total assets, reflecting the dynamic economic landscape. Starting at * billion euros in the fourth quarter of 2014, total assets experienced periodic increases and declines, reaching a peak of over *** trillion euros by the end of 2024. These variations illustrate the industry's resilience in navigating through different financial conditions during this period.

Performance metrics

Between 2014 and 2022, the return on equity (ROE) of the Belgian banking industry fluctuated between **** and ** percent, with the most significant decline occurring in the first quarter of 2021, largely due to the economic impact of the COVID-19 pandemic. In contrast, 2023 and 2024 saw a marked improvement, with ROE averaging over ** percent per quarter. Over the same period, the Common Equity Tier 1 (CET1) ratio of the Belgian banking sector generally trended upward from 2016 through 2024, despite a slight decline at the end of 2024.