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 2023*

• 434 bank branches
• 292 insurance agencies
• Estimated market share of 20% for traditional bank products, 27% for investment funds, 12% for life insurance and 9% for non-life insurance
• 3.9 million customers
• Loan portfolio of 131 billion euros and deposits of 134 billion euros

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

Specific objectives

• We put the client at the heart of all the products and services we develop and at the centre of everything we do. Our focus here is on a ‘digital first’ approach with a human touch, and investing in the seamless integration of our various distribution channels. We are working on the further digitalisation of our banking, insurance and asset management services and exploiting new technologies and data to provide our clients with more personalised and proactive solutions.
• Our digital assistant ‘Kate’ features prominently in this regard. Kate allows us to help our clients save time and earn money, in which Kate Coins play a vital role.
• To support these activities, we are also fully engaged in introducing end-to-end straight-through processing into all our commercial processes, making full use of all technological capabilities such as artificial intelligence. This is how we increase our efficiency, which allows us to invest in a strong branch network boasting more expertise.
• We collaborate with partners through ‘eco-systems’ that enable us to offer our clients comprehensive solutions. We are also integrating a range of partners into our own mobile app and making our products and services available in the distribution channels of third parties.
• We aim for further growth of bank-insurance at CBC in specific market segments and expansion of our accessibility in Wallonia, again with a strong focus on ‘Digital First with a human touch’.
• We work tirelessly on the ongoing optimisation of our bank-insurance model in Belgium. As regards the insurance component we specifically focus in the coming years on further growth.
• We express our commitment to Belgian society by leading the way in the sustainability revolution. We are making our banking, insurance and asset management products more sustainable to create financial leverage in achieving global climate targets. We aim to be more than a provider of pure bank-insurance services – as a partner in the climate transition, we are working with other partners on developing housing, mobility and energy solutions. We also continue to focus on financial literacy, entrepreneurship and population ageing.