Belgian government may decide soon to sell part of Belfius to increase defence spending

Published on July 17, 2025

The Belgian government is considering selling a 20% to 30% minority stake in state-owned bank-insurer Belfius before its summer recess on July 21, aiming to raise funds for increased defense spending, according to a report by De Tijd. The method of sale—whether through an IPO or direct transaction—has not been finalized, as discussions remain preliminary. This move aligns with Belgium’s commitment to boost defense spending to 2% of GDP by 2029 in line with NATO requirements, up from the current 1.3%. Belfius was established in 2011 after the state acquired Dexia’s Belgian banking arm for €4 billion following the financial crisis. Neither the government nor Belfius provided comments on the report.

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