Rabobank, ING, Credit Agricole eye Belfius stake, media reports say
Rabobank, ING, Credit Agricole eye Belfius stake, media reports say BRUSSELS, June 12 (Reuters) - Rabobank, ING INGA.AS and Credit Agricole CAGR.PA are all interested in buying a stake in Belgium's state-owned bank Belfius, as the government plans a partial sale, Belgian newspapers L'Echo and De Tijd reported on Friday, citing sources.
The Belgian government plans to sell a 20% stake in Belfius via a private placement, Finance Minister Jan Jambon told parliament earlier this week, adding that financial markets value the retail bank at around €10 billion ($11.56 billion).
The government has yet to set out the rules for the sale, leaving it unclear whether other banks would be eligible to take part.
Belfius's management has previously indicated a preference for selling to one or more domestic or foreign investors rather than to another bank, De Tijd reported.
Dutch lender ING said it did not comment on individual cases but said it has a "clear growth plan" to play a bigger role in the overall economies it operates in.
"We grow in the segments we already operate in but are also actively looking to see if we can add additional segments, add scale in segments or add products or services we want to grow in," an ING spokesperson said.
Belfius declined to comment. Dutch bank Rabobank and France's Credit Agricole did not immediately reply to Reuters' requests for comment.
The government began the process to sell the stake in late 2025 as it seeks to cut debt while increasing defence spending.
Belfius was created after the state bought the Belgian banking arm of Franco-Belgian lender Dexia in 2011 for €4 billion following the financial crisis.
($1 = 0.8648 euros)
(Reporting by Charlotte Van Campenhout; Editing by Joe Bavier)
((Charlotte.VanCampenhout@thomsonreuters.com; X: @CVanCampenhout / bsky:@charlottevc.bsky.social;))