Less than half of Belgians stay loyal to one bank. Internet banks have gained ground as second banks, according to a market study by consultant Roland Berger. De Tijd reported on this story on Tuesday. Since the financial crisis, more and more Belgians are spreading their money between several banks. Only 43% remain loyal to one institution. In 2009, this figure was still 50%.
Most Belgians (57%) are customers at two or several banks. Having several banks has become standard in Belgium, says Roland Berger. Around a quarter of people have accounts at three financial establishments or more.
KBC, BNP Paribas, Fortis, ING Belgium and Belfius are still the main players in the market. Around 84% of Belgians have accounts with one of these institutions.
Another ten percent have an account with an online bank. Roland Berger expects this will largely increase over the next five years. The consultant thinks that online establishments could see their share of the clientele increase to as much as 25% of the Belgian population between now and 2020.