Banking
At Argenta we have fair, transparent prices for each product. It can be that simple.
Banking Product Range
Belgium
The Argenta product range consists of four packages, each with clear services and a transparent tariff. This is the fairest way to provide people with what they need at the right price and also to be able to offer extra services to customers with additional needs in the future.
The four packages were launched in 2021. To keep the changeover simple, Argenta proposed a package to existing customers that corresponded to their user profile at the time. For 81 per cent of customers this proved to be the free Green package. Why should we make you pay for something when you don’t need to?
Argenta remains a bank with an extensive branch network to offer a free account. Each customer also has free online access to his or her accounts through the Argenta app and internet banking.
Each customer, whichever package he or she uses, can count on Argenta’s extensive free services. Such as free money withdrawals from other banks and making free instant transfers in the Argenta app.
The paying packages are of interest primarily to customers needing specific services or products, such as a Golden credit card with more extensive credit limits and additional insurance. The paying packages give Argenta the opportunity to offer additional services on top of the free range.
The Netherlands
Argenta Nederland is a fully digital savings bank. Customers can only open their savings account and subscribe to term deposits online. At Argenta Nederland customers can make general changes themselves and manage their savings online in a secure banking environment.
Improving customer experience
Belgium
Contactless and digital processes
Since the coronavirus crisis contactless and digital have become the norm. In 2022 we continued to build on digital services and products:
- finding an answer to specific questions in the Argenta app 24/7 using chatbot Charlie
- blocking a lost or stolen bank card in the Argenta app using Cardstop
- requesting a new bank card in the Argenta app following theft or loss
- answering additional questions about money laundering in the Argenta app and through internet banking
- receiving digital invitations to pay or due date messages with prefilled details in the transfer
- signing more transactions in Argenta internet banking and the Argenta app using Itsme
We will continue fine-tuning our products and services on the basis of the feedback from customers.
Combating phishing
Victim of fraud or phishing? Customers can get help with this from the fraud desk 24/7. We can move quickly to prevent further fraud and recover as much money as possible for the customer.
In 2022 Argenta took even more measures for additional security:
- direct contact from the Argenta app for victims of phishing
- direct contact with Cardstop to block or stop a debit or credit card and request a new card in the app immediately after the blocking
- new terms and conditions for applying for a credit card and increasing the credit card limits using the Argenta app
Argenta makes customers more resilient to phishing with clear communication about the risks and what you can do to protect yourself.
Managing cyber risks was another priority in 2022. The Board of Directors approved the Cyber Risk Information Security policy, a Chief Information Security Officer and an IT Security Officer were appointed, and the road map for IT Security was further rolled out.
Portfolio changes
Belgium
Balance on payment accounts:
+EUR 379
million in 2022
from EUR 6.4 million to EUR 6.7 million
This is less strong growth than in 2021. After two years of coronavirus people are keen to start consuming again: shopping, travel and eating out. And the high energy costs are also perceptible.
Balance on savings accounts:
+EUR 1,5
million in 2022
from EUR 29.2 billion to EUR 30.7 billion
This is slightly more than the increase in 2021. Consumers are continuing to save, even though they are spending more on consumption and the higher cost of living.
The Netherlands
At the end of 2022, Argenta Spaarbank Nederland's total savings portfolio amounts to EUR 2.33 billion. This is an increase of about EUR 37 million compared to December 2021. The increase is caused by an increase of over 65 million on internet savings accounts.
The reduction in interest rates on time deposits reduced the balance on time deposits by EUR 28 million. In December 2022, Argenta again raised interest rates on both internet savings accounts and time deposits.
Investing
Customers wanting to invest will find simplicity and transparency at Argenta. This is logical because the range of investment products builds further on trusted Argenta values.
Investment product range
A complete and versatile investment product range that is nonetheless simple and transparent: this is the focus of ‘investing at Argenta’. Customers invest in one of Argenta’s five core funds. In line of course with their risk profile and needs.
Improving investment customer experience
Subscribing to an investment plan is almost entirely automatic with Argenta Invest. The process is fully automated, with no human intervention. This is far easier for both customers and branches. Since October 2022 customers have also been able to use the Argenta app to do this.
For novice investors an investment plan is an accessible way to become acquainted with investments. But there is added value for existing investors too in being able to manage their investment plan independently and very easily in the app.
In figures:
Argenta is putting even more into communication about investments. For example, the customer receives regular updates about Argenta’s investment strategy. We are constantly improving the information sheets on our investment products. And customers receive an annual suitability report with their investment products and an indication of whether they remain suitable for them.
new investment plans in 2022
euro average investment per customer per month
Investment portfolio changes
2022 was a very challenging stock market year. The war in Ukraine, rocketing inflation and rising interest rates had an impact on the prices of both bonds and shares. Customers though retained their confidence in Argenta’s investment approach in this difficult climate.
Gross production in investment funds and investment-linked insurance:
EUR 1,62
billion in 2022
Within the Argenta Portfolio range, Argenta’s Portfolio Neutral is the most popular, followed by AP Dynamic and Defensive. Within the accent funds we see the highest production in Next Gen Technology, Global Thematic and Responsible Utilities.
Lending
Lending remains the core of the Argenta offering.
Lending product range
29,598 new loans and advances in 2022:
mortgage loans
consumer loans
The number of new mortgage loans fell by 25 per cent compared to 2021. This is due to the sharp interest rate rise. The share of internal refinancing fell significantly (down 71 per cent) and the number of customers buying or renovating new property also fell, by 15 per cent.
The number of customers opting for a consumer loan rose by 18 per cent compared to 2021. A sharp increase that can be explained almost entirely by the increased demand for the financing of sustainable renovations. This trend is in turn a result of the sharp increase in energy prices. Customers have visibly invested more quickly in sustainable renovations.
Sustainable living and sustainable mobility are becoming increasingly important for our customers:
- 1/3 of customers choose a home with an A or B energy label
- more and more customers are choosing to renovate existing, less sustainable property
We therefore expect the share of renovation loans in our portfolio to grow sharply in the coming years. The climate objectives specified by the Belgian government certainly play a part in this.
Mobility also became greener in 2022:
- 54 % more loans for eco-friendly vehicles
- 41 % more bicycle loans
- 27 % fewer loans for fully fossil fuel vehicles
To gain an idea of the sustainability of the entire loans portfolio, Argenta also collected the data from EPC valuations of the property in the portfolio. This information provides the basis for the further course of loans policy in the coming years. The ambition? To have a fully sustainable loan portfolio by 2050. In 2023 Argenta will further translate this ambition into specific, measurable objectives.
Improving lending customer experience
Belgium
Since Argenta is constantly working on better and more efficient systems and processes, the processing time of a loan decision is getting shorter. For example, the decision-making process for mortgages meeting specific terms and conditions is increasingly automatic. In 2023 we are continuing along this chosen path.
At the beginning of 2022 Argenta implemented the new European Banking Authority (EBA) guidelines that make it mandatory to value property used as security for mortgage loans. Valuations in 2022 were largely digital. As a result valuers have less need to move physically and the result of the valuation is available faster in the loan application.
In 2022 many families experienced a hard time because of the energy crisis. Argenta customers could submit a payment deferral application digitally through their branch to spread their financial burdens better. The applications were handled and processed automatically so that customers and branches were very quickly aware of the decision on the application.
The Netherlands
In 2022 the branch office significantly upgraded its processes to increase customer satisfaction. In the Netherlands government sources are among those Argenta uses as validated consumer data. This allows fast and paperless working, leading to efficiency in the chain and convenience for consumers. Argenta wants to continue to play a pioneering role in the Netherlands in this way.
Lending portfolio changes
Belgium
Lending remains the core of the Argenta product range.
In 2022, Argenta produced EUR 3.2 billion of home loans. This figure is down 24% on 2021. The property market had a good spring, but the sharply rising interest rates led to demand for mortgages cooling off in the second half of the year. Our customers opted for a long-term relationship with Argenta, with a personalised offer via our local agents.
Besides home loans, Argenta also offers various instalment loans (LOA). Argenta will realise around EUR 182 million in instalment loans in 2022. This is an increase of 19% compared to 2021.
The Netherlands
In the Netherlands, Argenta advanced EUR 3.9 billion in home loans in 2022. Production was therefore 11% higher than planned for 2022. Mortgage production fell back in the second half of 2022 as a result of the rising interest rates. The portfolio rose to EUR 19.7 billion in December 2022, including building deposits.
Insurance
At Argenta we do more than insure. We cover your loss in the event of a car accident, house fire or theft. But we don't stop there. We stand by you until you are completely at ease again.
Insurance product range
Argenta Assuranties offers non-life and health insurance (family insurance, fire, motor and hospitalisation insurance) on the one hand, and life and term life insurance, including outstanding balance insurance on the other. Argenta also offers insurance-based investment in the form of branch 23 products.
Improving insurance customer experience
Giving customers complete peace of mind was again an important goal in 2022. It has for example become even easier to report damage in the app and at the same time upload photographs and documents. Argenta has also taken further steps in paperless insurance: the white card is now digital and customers also receive digital due date messages with a pay button.
A new service has been added to fire insurance: Zorgeloos Hersteld (Leave it all to us). If a customer has a covered claim, Argenta can, subject to certain conditions, take care of the repairs, from start to finish.
The customer experience is also of prime importance in life insurance. For example, the application forms for changes in contracts were made simpler. As a result they can be processed faster.
Argenta also continues to work towards the digital process of medical acceptance in the application for outstanding balance insurance. Customers can use the digital platform to answer questions about their medical situation, sport and occupation. Customers who have to pay an additional premium because of their sport or occupation, for example, have also been able to use the digital platform to confirm this since March 2022.
Insurance portfolio changes
Property and health insurance portfolio:
+ EUR 6
million in 2022
EUR 164 million in total
This growth is largely due to continued strong production in fire insurance. In 2022, 27,330 new fire insurance policies were concluded and the portfolio grew by 3.8 %. Thanks to the combined offering of fire and family insurance through the 'Insured Housing +' policy, the family policy has also continued to grow, with an increase of 4.3 %.
The car insurance portfolio rose by 1.2 %. The premium income of the car insurance portfolio fell slightly in 2022. In January 2022 Argenta implemented a lower rate. This is designed to produce stronger growth in the future.
Life insurance:
+ 36.000
in 2022
More than half of these are outstanding balance insurance policies for the purposes of mortgage loans. 16,000 new investment insurance policies were also drawn up. Some 16,500 contracts reached their end date at the end of December 2022. In 11,400 contracts the customer decided to reinvest in branch 21. In 2,000 contracts the customer decided to reinvest in branch 23.
Branch 21 insurance:
+ EUR 45
million in 2022
EUR 211 million in total
Branches
In our branches lives are planned and futures mapped out. This is why Argenta branches are nearby our customers, accessible and approachable. No anonymous chatbots here, but dedicated branch managers who assist their customers with advice at any time.
Our branches
Argenta has an extensive branch network with 406 outlets in Belgium. This is slightly fewer than in 2021, following the merger of a few smaller branches with larger branches in the same area. In this way customers receive an even more specialised service. Argenta expects this trend to continue in the years to come.
Best branch network award
Argenta won the 2022 Bank Award for ‘Best Branch Network’. We are incredibly proud of this. This award is not just the result of Argenta’s commitment, but also that of the branches and their staff. They give the best of themselves every day to help, inform and provide tailor-made advice to Argenta’s customers.
Cooperation and dialogue with the branch network
At Argenta we believe that a good customer experience is partly the result of active collaboration and dialogue with the branch network. Both the branch network and head office can make improvements that are discussed in structural advisory and consultation bodies where branch managers and head office staff come together.
The Operational Consultation Body focuses on operational processes, communication and systems. The Sales Consultation Body focuses on topics that stimulate commercial operations: sales processes, new and current products, commercial campaigns, training, etc.
Argenta Nederland
In the Netherlands, where we have now been present for 25 years, Argenta does not have its own branch network. Customers can turn to over 3,300 independent advisers and its own channel. As in Belgium, the focus is on simple banking, straightforward, with products that everyone understands. Our pragmatic, simple approach is catching on: with 300,000 customers, Argenta Nederland is a successful bank for mortgages and savings products.