ING announced that it will be cutting 1,400 jobs in Holland and another 1,000 in Belgium after missing consensus for the fourth quarter of 2012.

The Dutch bank registered EUR1.43bn in profit, while analysts were looking for EUR1.63bn.

‘As we embark on 2013, the economic climate remains challenging, and we must be agile to respond quickly to the dynamic environment so that we can deliver sustainable results for the long-term benefit of all stakeholders,’ said Chief Executive Jan Hommen in the statement.

ING currently trades donw 0.8% to EUR6.88.

SC