ING confirmed in a statement to RTL on Tuesday that the bank will continue to streamline its services and reduce staff.

A total of 124 jobs will be cut as part of a social plan. The bank says it intends to sharpen its focus on Private Banking and Wholesale activities, targeting high-value private investments and large corporate clients.

Meanwhile, Business Banking – which covers services such as mortgage loans, savings accounts, and similar products – will be phased out progressively in the coming months.