ING shuts down 25% of its branches, accelerates move towards digital banking

On Friday, Dutch banking giant ING stated, it will close 25% of its brick-and-mortar bank branches in the Netherlands since the COVID-19 pandemic has accelerated the trend of digital banking.

ING, the Netherlands’ biggest bank, said it would shut 42 of its 170 branches in its home market with all of the affected 150 employees being offered other jobs within ING.

“We already had a plan, but the corona-crisis accelerated it”, said ING Netherlands director Ruud van Dusschoten.

Incidentally, ING had temporarily closed many of its branches during the Netherlands’ partial lockdown from March to June, even though stores were allowed to remain open. After reopening, these branches have not attracted many customers, said Van Dusschoten.

“We have seen the use of our digital banking options increase even further. The need for offices keeps getting less.”

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