Belgium Business Unit

The Belgium Business Unit comprises the activities of KBC Bank NV and KBC Insurance NV, and their Belgian subsidiaries, such as CBC Banque, KBC Asset Management, KBC Lease Group (Belgium) and KBC Securities.

Key data

KBC’s position in the Belgian market in 2019*

  • 518 bank branches
  • 355 insurance agencies
  • Estimated market share of 20% for traditional bank products, 30% for investment funds, 13% for life insurance and 9% for non-life insurance
  • 3.5 million customers
  • Loan portfolio of 112 billion euros and deposits & debt securities of 131 billion euros

* Market shares and customer numbers: based on own estimates. Share for traditional bank products: average estimated market share for loans and deposits. Market share for life insurance: incl. group insurance).

A unique bancassurance business model

  • Unique cooperation between our bank branches and insurance agencies in micro markets
  • Branches focus on bank and standard insurance products, and refer clients to the insurance agency in the same micro market for other insurance products
  • Insurance agencies sell the full range of insurance products and handle all claims, including those relating to policies taken out at a bank branch


Focus in the coming years : being closer to our clients, always and everywhere.

  • To focus on an omnichannel approach and invest in the seamless integration of our different distribution channels (branches, agencies, KBC Live, websites and mobile apps), while investing in the further digital development of our banking and insurance services and exploiting new technologies and data to provide our clients with more targeted and proactive advice.
  • To expand our service provision via our own and other channels. We collaborate to this end with partners through ‘eco-systems’ that enable us to offer our clients comprehensive solutions. To integrate a range of selected partners in our own mobile app and for our products and services to be present in the distribution channels of selected third parties (e.g., cycle loans and insurance at cycle dealers).
  • To exploit our potential in Brussels more efficiently via the separate brand, KBC Brussels, which reflects the capital’s specific  cosmopolitan character and is designed to better meet the needs of the people living there.
  • To grow bank-insurance further at CBC in specific market segments and to expand our presence and accessibility in Wallonia.
  • To work tirelessly on the ongoing optimisation of our bank-insurance model in Belgium.
  • To continue our pursuit of becoming the reference bank for SMEs and mid-cap enterprises based on our thorough knowledge of the client and our personal approach.
  • To express our commitment to Belgian society by taking initiatives in areas including environmental awareness, financial literacy, entrepreneurship and demographic ageing. We actively participate in the mobility debate and develop solutions.

Last update: 03-04-2020

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