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In 2024, the value of assets held by the Dutch ING exceed one trillion euros, making it the leading bank in the Benelux region in terms of total assets. It was followed by two other Dutch banks, Rabobank and ABN Amro. In comparison, BNP Paribas Fortis, the leading Belgian bank, had assets amounting to approximately *** billion euros. The assets of banks with Luxembourgian origins were lower than those from Belgium and the Netherlands. This is partly because the Grand Duchy has many large foreign banks within the country.

The banking industry in Belgium

The banking sector in Belgium has two important characteristics. First, banking is deemed an important part of Belgian culture, with a relatively high number of bank offices in the country. In 2023, for example, the total number of offices of banks established in Belgium was over . Second, the Belgian banking landscape is dominated by several big non-Belgian banking concerns, notably Dutch bank ING and France-based BNP Paribas. In 2024, BNP Paribas Fortis, BNP Paribas' Belgian daughter, reached a phased-in Common Equity Tier 1 (CET 1) ratio of ** percent.

The banking industry in the Netherlands

In the Netherlands, a few large institutions dominate the domestic financial markets. In 2023, the five largest Dutch credit institutions, which include ING, Rabobank and ABN Amro, held approximately 82 percent of the total assets. This was the highest in the Benelux region, though Belgium followed, with ** percent of all banking assets held at the five largest credit institutions.