B · Normal
[ING announced that it will lay off about 400 people and its quarterly profit is lower than expected] On October 29, ING Group’s third-quarter profit was lower than expected due to rising costs and the provision of more credit provisions. The Dutch bank also said it would cut about 400 jobs as it refocuses its wholesale banking business. The bank said in a statement on Thursday that net profit rose 3.5% to 1.85 billion euros ($2.06 billion) in the three months to September.
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