ING will cut 400 jobs worldwide in its corporate banking division, the Dutch lender announced on Thursday as it reported its quarterly results.
The bank said it is benefiting from the current high interest rate environment. While it is earning more interest on loans, the returns paid on savings have not risen at the same pace. Its net interest income rose by 15% in the third quarter. That helped lift profit to nearly €1.9 billion, up from just under €1.8 billion in the same period last year.
The bank’s chief executive described the quarter as “solid” for the company, despite “persistent geopolitical uncertainty and volatility” and pressure on consumer and business confidence.
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ING has not increased its basic savings rate in the Netherlands since April 2025.
Higher interest rates are linked to policy decisions by the European Central Bank, which last month raised rates for the second time this year. The aim is to curb inflation linked to the war in the Middle East.
ING employs more than 60,000 people worldwide, including some staff in Belgium.
