Rabobank, ING, and Credit Agricole are all interested in buying a stake of Belgium\u2019s state-owned Belfius, as the government plans a partial sale, according to Belgian newspapers L\u2019Echo and De Tijd.<\/p>\n
Citing sources, the sister papers reported Friday that Dutch lenders ING and Rabobank, as well as France\u2019s Credit Agricole, were looking to acquire part of the 20 per cent share that the government intends to sell.<\/p>\n
On Tuesday, Belgian finance minister Jan Jambon told a parliamentary committee that the stake will be sold through private placement, adding that: \u201cThe goal is to attract a private investor with the necessary experience who can actively contribute to Belfius’s strategy and business plan\u201d.<\/p>\n
Financial markets value the bank at around \u20ac10 billion, he added.<\/p>\n
The government has not yet set out the rules for the sale, and it is presently unclear if other banks will be able to participate. De Tijd reported that Belfius\u2019s management has previously indicated a preference for selling to one or more domestic or foreign investors over another bank.<\/p>\n
An ING spokesperson told Reuters that \u201cWe grow in the segments we already operate in but are also actively looking to see if we can add additional segments, add \u2060scale in segments or add products or services we want to grow in,\u201d while saying the bank does not comment on individual cases.<\/p>\n
The Belgian government began the sale process in late 2025 in a bid to cut debt while increasing defence spending, Reuters reported.<\/p>\n
Belfius was created in 2011, following the state\u2019s purchase of the Belgian banking arm of Franco-Belgian lender Dexia in the wake of the financial crisis.<\/p>\n
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