The major cause of earthquake damage to an embankment is the liquefaction of the soil foundation that induces ground level deformations. It is well known that the liquefaction appears when the soil loses its shear strength due to the excess of pore water pressure. This phenomenon leads to several disastrous damages of the soil foundation. The aim of this paper is to assess numerically the effect of the liquefaction-induced settlement of the soil foundation on an embankment due to 76 real earthquakes extracted from the PEER database. For this purpose, a 2D finite element model of a dam founded on a layered soil/rock profile was considered. An elastoplastic multi-mechanism model was used to represent the soil behaviour. The crest settlement of the embankment was selected as the quantifiable damage variable of the study. Fragility functions were drawn to give the probability exceedance of some proposed damage levels as function of a seismic severity parameter. In addition, the anisotropy was tested by the change in the soil permeability and a comparison with the isotropy was held. According to the results, the crest settlement increases with the peak ground acceleration and the fragility functions showed that above 0.2g, the probability to have moderate damage in the anisotropic case reaches unity whereas it is lesser in the isotropic case. The embankment will not show serious damage for this same value of acceleration in the two cases.