ING the largest Dutch bank cuts jobs

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ING the largest Dutch bank cuts jobs

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ING, the largest Dutch bank has announced a cut in jobs with 1,700 set to go in the next three years.

The move is part of an online banking push with the company announcing on Tuesday it would book a provision of 320 million euros in the fourth quarter to finance the job losses.

Most of the cuts will fall in the retail banking headquarters, back offices, call centres and IT department.

Combined with associated IT investments the move will yield an annual gross savings of around 270 million euros a year from 2018.