ING Bank financial performance and labor developments

In late October 2026, ING Bank faced a period of simultaneous financial reporting and labor negotiations. The bank prepared to release its third-quarter results while entering discussions for a new collective labor agreement (CAO), with a significant gap existing between the bank’s 1% salary increase offer and the union’s demand for a 5.5% increase.

Following the release of its quarterly results, ING Group reported a strong performance with a net profit of nearly 1.9 billion euros, an increase from approximately 1.8 billion euros in the previous year. This growth was attributed to a 15% rise in interest income.

Alongside these profits, the bank announced plans to cut 400 jobs globally within its investment banking division to streamline operations. CEO Steven van Rijswijk characterized the quarter as “solid” despite geopolitical volatility and pressure on consumer confidence.

Further details regarding the restructuring revealed that the affected unit, the wholesale banking division, will be renamed the Corporate and Institutional Banking division to create a leaner structure. Additionally, ING launched a share buyback program of up to 1.65 billion euros, which exceeded analyst expectations, and announced it will pay 250 million euros in cash to shareholders in January.