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ING Posts 2012 Profit, Further Job Cuts On Horizon
Sally Ling
14 February 2013
ING Group has reported an underlying net
profit of €2.603 billion (around $3.511 billion) for 2012. This is down by 5.2 per cent on 2011. "2012 was a transformational
year for ING as we worked decisively on the restructuring of the group,
preparing the bank and insurance companies for independent futures," Jan
Hommen, chief executive of ING Group, said in a statement. During the year the group reduced its workforce from 130,000 to 85,000 by a combination of divestments
and restructuring. Further job losses are scheduled, with around 2,400 positions
in retail banking in the Netherlands and Belgium due to go by 2015.