ING 4Q profits up, plans 2,400 job cuts
World BusinessFeb 13, 2013
ING Groep NV, the bailed-out Dutch bank and insurance company, has announced plans to cut 2,400 jobs in Europe over the next two years as the company unveiled net profit rose in the fourth quarter due to larger gains from asset sales. Net profit was (euro) 1.43 billion ($1.99 billion), up from (euro) 1.19 billion in the same period a year ago, as sales of assets this year were larger. The company said that “underlying” banking profits fell to (euro) 184 million from (euro) 664 million due to a w