In the first half of 2024, we remained fully committed to our approach that focuses on growth, accessibility and sustainability. We grew our outstandings in both our individual and corporate customer segments. At the same time, we further strengthened our distribution network and our digital service offering. Following the successful integration of bpost bank, 600,000 former bpost bank customers began to make full use of our products and services.
The environment in which we served our customers was volatile, with a persistently unsettled geopolitical situation. Economic growth picked up slightly, but inflation in Belgium is higher than the European average and European and Belgian industry faces multiple challenges. Despite inflation, we were able to limit cost increases.
Excluding the impact of the government bond of 6.9bn euros, deposits on savings, current and term accounts in Belgium are up 1.1% on 1H 2023. This demonstrates our capacity to attract savings and convert them, among other things, into loans which oxygenate the Belgian economy.
We continued to finance our individual and corporate customers’ plans and projects. Outstanding loans to customers in Belgium increased 2.9% to 161.8bn euros on 1H 2023, compared to a real GDP growth of 1.1% over this period. In a very competitive environment, we granted 16.3bn euros of new loans to all sectors of the economy.
Michael Anseeuw - Chief Executive Officer:
First of all, I would like to thank our staff for their dedication to our customers and the bank, and our customers for their trust in our services.
In Belgium, our loans to businesses increased by 3.6%. Mortgage loans production is characterised by a greater demand for loans with longer maturities. We maintain our position as the Belgian market leader, with BNP Paribas Fortis accounting for more than 1 in 5 of all new mortgage loans. Our ESG-related loans, such as company loans linked to scores determined on the basis of environmental, social and governance criteria and energy efficient mortgages & renovation loans, continue to grow much faster than our global loan portfolio.
Six months after the integration of bpost bank and the launch of our new service packs, almost 4 million retail customers have found their way through our renewed offering. Former bpost bank customers already digitally active are using our services via the app and web more frequently than before the integration. Close to half of our active app users use the app at least once a day. In total, customers use our Easy Banking app up to 100 million times a month.
We recorded more than 800,000 banking contacts – both advice and servicing – via the bpost network and 1.8 million via BNP Paribas Fortis branches. Only a small number of customers changed their initial choice of service pack after the launch on 1 January. For example, 98% of customers who opted for the Easy Go package with service at the post office did not change their choice.
In Private Banking, we remain the market leader amid intense competition and consolidation. Our one-stop-shop approach combines digital tools with the expertise of our team of relationship managers. Over the past five years, we have invested 122 million euros to accelerate the deployment of innovative and efficient solutions for this client segment.
We have performed well, both commercially and financially, in a volatile and competitive environment, resulting in an increased customer satisfaction across all customer segments.
You will find the entire press release and the slides in attachment.
