Top 11 Banks in the Netherlands

Updated on April 9, 2024
Article bySayantan Mukhopadhyay
Reviewed byDheeraj Vaidya, CFA, FRM

What Are Top 11 Banks In The Netherlands?

The top 11 banks in the Netherlands is an important and interesting topic of discussion in the global financial market. It points out to the development and advancements of the banking sector within the country and how it has progressed over the years.

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The Netherlands has proved to be a valuable hub for the establishment of a business network due to the development of infrastructure and electronic advancement. The economy is experiencing a stable growth over the years leading to expansion of business opportunities and resulting in demand for better banking products and services.

Top 11 Banks In The Netherlands Explained

If any individual or an organization is planning to set up a business in the Netherlands, banking will become an important part of it. Therefore, it is necessary to learn about the top banks of the country and how to open an account in them in order to access the different and wide variety of facilities that they offer to their customers.

Typically, banks in the country ask for identity and address proof along with the BSN number. Just an additional document of residency permit should be submitted by people who are not from the European Union. Students get special facilities, especially if they are from other countries.

The banking system of the country has experienced a huge boost related to internet banking. The system has been made easy, secure, and very comfortable for all individuals who can do almost all types of banking transactions using the Internet.  

Loans are easily available without much hassle and documentation process. However, the borrowers need to meet the required criteria to apply for loans and get the applications processed.

In the Netherlands, while accessing banking facilities, one needs to have an International Bank Account Number (IBAN). This number is considered to be essential and unique in the sense that it can be used and identified worldwide.

As per Moody’s Investors Service, the Dutch banking system looks stable. And as a result, Moody’s rating for the same is positive. Moreover, Moody’s Investors Service expects that in the next 12 to 18 months, the creditworthiness of the Dutch banking system will improve a lot more.

There are a few reasons for which Moody’s Investors Service has rated the Dutch banking system so well: –

In this article, we will study the details of the banks in the country that provide a very high level of customer service and work with a lot of integrity and ethics. These are important considerations while selecting a bank apart from the fees and charges that they collect for the wide range of services. Thus, let us dive into the details of each such bank and learn about them in detail.

Structure

As per the last data received in 2017, the Netherlands has around 99 banks. The banking sector in the Netherlands amounts to the country’s GDPGDPGDP or Gross Domestic Product refers to the monetary measurement of the overall market value of the final output produced within a country over a period.read more. In 2008, the ratio between the banking assets and the GDP of the Netherlands was 600%. However, in 2016, it dropped down to 365%.

The Bank of the Netherlands acts as the Central Bank of the country. It is also a state-owned bank and offers lending services.

Only one bank is listed publicly among these banks in the Netherlands; the Government partially owns some, and one major bank is a cooperative institution. However, after the global financial crisisFinancial CrisisThe term "financial crisis" refers to a situation in which the market's key financial assets experience a sharp decline in market value over a relatively short period of time, or when leading businesses are unable to pay their enormous debt, or when financing institutions face a liquidity crunch and are unable to return money to depositors, all of which cause panic in the capital markets and among investors.read more, the large banks in the Netherlands dominate the whole banking.

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Digital Banking In The Netherlands

The Netherlands’ digital banking landscape showcases advanced online banking platforms, innovative payment solutions, and a customer-centric approach to financial services. It is characterized by a progressive and tech-savvy environment. Established banks were actively embracing digital transformation, offering innovative online banking services and mobile apps to cater to customers’ needs. The country’s fintech sector is also thriving, with a growing number of startups disrupting the industry with specialized financial solutions. The Dutch government’s support for open banking and fintech innovation plays a significant role in driving the evolution of the digital banking sector in the Netherlands.

Our Top Picks For Managing Finances & Borderless Payments

You can explore these online money management services to plan your savings, investments & borderless payments:

Wise
– Multi-currency e-money account linked to debit card

– Fast transfers and no markup rates

– Broad geographical reach across continents in 75+ countries.
Rating 4.3/5
Revolut Business
– Dynamic digital financial and money management platform.

– Multicurrency Business Account for companies and freelancers

– Dominates competitions in terms of innovative features and easy accessibility.
Rating 4.8/5
Qonto
– Digital bank account and cards

– Can set transaction limits for each card

– Operates primarily in France, Italy, Germany & Spain
Rating 4.2/5

List of Top 11 Banks

It is crucial to note that since banking forms an important part of the financial service industry of the country, using the facility will involve proper study of the features of all good banks of the region. Retail banking involves loan and credit card payments which have a huge market share and is in the process of growing more over the years. The debit and credit card usage is very popular and all Dutch banks support it. Corporate banking has also growth over the years, especially the small and medium sized companies, with the help of government initiatives. Given below are some banks that are thriving in the country which we will learn in details.

  1. Revolut
  2. ING Bank NV
  3. Coöperatieve Rabobank U.A.
  4. ABN AMRO Bank N.V.
  5. De Volksbank N.V.
  6. NIBC Bank N.V.
  7. Achmea Bank N.V.
  8. Van Lanschot Kempen NV (F. van Lanschot Bankiers NV)
  9. Tridos Bank N.V.
  10. Delta Lloyd Bank N.V.
  11. KAS Bank N.V.

Let us look at each one of them in terms of the total assets acquired: –

#1. Revolut:

Experience banking like never before with “Revolut,” the app-based solution in the Netherlands operating under a banking license Revolut Bank UAB. It is designed for the modern world that puts control at your fingertips. Seamlessly manage your finances, make swift global money transfers, and save with ease. Enjoy fee-free currency exchange and cryptocurrency transactions. With top-notch security features and a user-friendly interface, Revolut ensures your money is safe and accessible anytime, anywhere. Join millions who trust Revolut for secure, convenient, and rewarding banking. Sign up now and unlock a world of infinite financial possibilities!

#2. ING Bank NV:

ING Bank NV is the largest in the Netherlands regarding total assets acquired; as of 2020, the total assets acquired by this bank were €937.38 billion. It had a 35.79% share of the total consolidated assets in 2016. In 2020, the net incomeNet IncomeNet income for individuals and businesses refers to the amount of money left after subtracting direct and indirect expenses, taxes, and other deductions from their gross income. The income statement typically mentions it as the last line item, reflecting the profits made by an entity.read more of this bank was €2,415 million. ING Bank NV specializes in insurance and banking. Its headquarter is situated in Amsterdam.

#3. Coöperatieve Rabobank U.A.:

Coöperatieve Rabobank U.A. is the second-largest bank in the Netherlands regarding total assets acquired. In 2018, the total assets acquired by this bank were €590.437 billion. It had a 28.52%% share of the total consolidated assets in 2016. In the same year, the net income of this bank was €1960 million. It was established in 1898, around 124 years ago, specializing in asset managementAsset ManagementAsset management is a method of managing funds and investing in both traditional and specialized products in order to generate returns consistent with the investor's risk tolerance. read more, leasing, real estate, insurance, and banking. Its headquarter is located in Utrecht.

#4. ABN AMRO Bank N.V.:

ABN AMRO Bank N.V. is the third-largest bank in the Netherlands regarding total assetsTotal AssetsTotal Assets is the sum of a company's current and noncurrent assets. Total assets also equals to the sum of total liabilities and total shareholder funds. Total Assets = Liabilities + Shareholder Equityread more acquired. In 2018, the total assets acquired by this bank were €381.3 billion. It had a 16.73% share of the total consolidated assets in 2016. As of 2018, the net income of this bank was €2.325 billion. This bank specializes in mortgagesMortgagesA mortgage loan is an agreement that gives the lender the right to forfeit the mortgaged property or assets in case of failure to repay the borrowed sum and interest.read more, savings, consumer loansConsumer LoansA consumer loan is a type of credit given to a consumer to finance specified set of expenditures. The borrower must pledge a specific asset as collateral for the loan, or it may be unsecured depending on the loan's monetary value.read more, and internet banking. Its headquarter is situated in Amsterdam.

#5. De Volksbank N.V.:

De Volksbank N.V. is the fourth largest bank in the Netherlands regarding total assets acquired. At the end of 2016, the total assets acquired by this bank were €61561 million. Consequently, it has a 2.61% share of the total consolidated assets. In the same year, the net income of this bank was €329 million. It was established in 1817, around 215 years ago, specializing in payment products, mortgage, and savings banking. Its head-quarter is located in Utrecht.

#6. NIBC Bank N.V.:

NIBC Bank N.V. is the fifth-largest bank in the Netherlands regarding total assets acquired. At the end of 2016, the total assets acquired by this bank were €23580 million. Consequently, it has a 1.00% share of the total consolidated assets. In the same year, the net income of this bank was €102 million. It was established in 1945, around 77 years ago, specializing in corporate banking. Its headquarter is located at S Gravenhage.

#7. Achmea Bank N.V.:

Achmea Bank N.V. is the sixth-largest bank in the Netherlands regarding total assets acquired. The total assets acquired by this bank in 2020 were €13,833.68 million. In 2016, it had a 0.64% share of the total consolidated assets. In 2020, the net income of this bank was €27.53 million. This bank specializes in savings products and residential mortgage loans. Its headquarter is located at Apeldoorn.

#8. Van Lanschot Kempen NV. (van Lanschot Bankiers NV):

This bank is the seventh-largest bank in the Netherlands regarding total assets acquired. At the end of 2016, the total assets acquired by this bank were €14877.41 million. It has a 0.63% share of the total consolidated assets. In 2020, the net income of this bank was 

€49,8 million. The oldest bank in the Netherlands, Van Lanschot Kempen NV (formerly F. van Lanschot Bankiers NV), was established in 1737, specializing in private banking. Private Banking. Private banking refers to a type of banking and financial service offered by certain banks only to high-net-worth individuals (HNWIs). Clients opting for this service are individually assigned a financial representative who personally takes care of their banking needs.read moreIts headquarter is located at `s-Hertogenbosch.

#9. Tridos Bank N.V.:

Triodos Bank N.V. is the eighth largest bank in the Netherlands regarding total assets acquired. At the end of 2016, the total assets acquired by this bank were €9081.24 million. Therefore, it has a 0.39% share of the total consolidated assets. In 2020, the net income of this bank was €27.2 million. It was established in 1980; specializes in lending and investment products. Its headquarter is situated in Zeist.

#10. Delta Lloyd Bank:

Delta Lloyd Bank NV is the ninth-largest bank in the Netherlands regarding total assets acquired. As of 2017, the total assets acquired by this bank were €5,343.31 million, which had a 0.23% share of the total consolidated assets in 2016. In 2017, the net income of this bank was €-814,000.00. This bank specializes in mortgage loans, savings, and investmentsInvestmentsInvestments are typically assets bought at present with the expectation of higher returns in the future. Its consumption is foregone now for benefits that investors can reap from it later.read more. Its headquarter is situated in Amsterdam.

#11. KAS Bank N.V.:

KAS Bank N.V. is the tenth largest bank in the Netherlands regarding total assets acquired. At the end of 2016, the total assets acquired by this bank were €4398.68 million. Consequently, it has a 0.19% share of the total consolidated assets. In the same year, the net income of this bank was €14.85 million. This bank specializes in wholesale securities services. Its headquarter is situated in Amsterdam.

Thus, we can conclude that the banking sector including the online banking system has been growing at a great scale. It is facing huge transition because consumers needs and choices are changing in a very rapid way. Overall, it is necessary to remain competitive and be at par with the rest of the world in terms of technological innovations and their implementation. Therefore, flexibility and ability to adapt to new technology will always remain of utmost importance.

We hope you liked this guide to the Top 11 Banks In The Netherlands. We explain the structure and learn in details about the top 11 banks in Netherlands. If you are looking forward to making a career in banking, then you can check out some of the awesome resources: –