Dutch banking giant ING Group is preparing to eliminate approximately 400 jobs worldwide as part of a major restructuring programme aimed at simplifying its operations and improving efficiency.

The announcement came as the bank reported third-quarter 2026 financial results that fell short of analysts’ expectations, raising fresh questions about its operating costs and future growth strategy.

Quarterly Profit Falls Short of Expectations

ING reported net profit of approximately €1.85 billion for the third quarter of 2026, representing a 3.5% increase compared with the same period last year.

However, the result remained below the approximately €1.97 billion expected by analysts.

Higher operating expenses, increased loan-loss provisions and weaker treasury-related income contributed to the earnings shortfall.

Despite the disappointing result, the bank maintained a relatively strong financial position and continued generating income from its lending, investment and financial services businesses.

Around 400 Jobs to Be Eliminated

As part of its restructuring strategy, ING plans to cut approximately 400 positions globally within its wholesale banking division.

The proposed reductions are scheduled for 2027 and form part of a broader effort to simplify the organisation and improve operational efficiency.

The bank also plans to rename its Wholesale Banking division as Corporate and Institutional Banking, effective March 1, 2027.

The restructuring is expected to involve changes to internal processes, organisational responsibilities and the way the bank serves large corporate clients and financial institutions.

Cost Reduction and Long-Term Savings

ING expects the restructuring programme to generate annual savings of approximately €75 million by 2028.

However, implementing the programme will involve an initial financial cost. The bank expects to record a pre-tax restructuring charge of approximately €175 million in the fourth quarter of 2026.

The savings initiative reflects the growing pressure on international banks to control operating expenses while continuing to invest in digital banking, technology and customer services.

Banking Industry Faces Increasing Competition

European financial institutions are increasingly focusing on automation, digital transformation and organisational restructuring to remain competitive.

Traditional banking operations are facing pressure from digital financial platforms, changing customer expectations and rising technology investments.

ING’s decision reflects a wider trend across the international banking sector, where even profitable institutions are reviewing their workforce requirements and operational structures.

What Lies Ahead for ING?

Despite the planned workforce reductions, ING remains focused on strengthening its international banking operations and maintaining sustainable financial growth.

The bank’s ability to control expenses, improve productivity and expand its corporate banking business will be important factors in determining its future performance.

For employees, however, the announcement creates uncertainty about the future structure of the wholesale banking division.

The coming months will be important as ING moves forward with its restructuring plans and prepares to implement the organisational changes in 2027.

The development highlights a broader shift in the global banking industry: financial institutions are increasingly prioritising efficiency, technology and cost control as they adapt to a rapidly changing economic environment.