Dutch bank ING has decided to close a quarter of its bank branches in its home market in response to the rising Covid-19 pandemic, Reuters has reported.

The bank is accelerating the branch closures in the country as its customers move to digital banking channels during the pandemic.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

ING is one of the largest banks in the Netherlands with 170 branches, of which, it has decided to shutter 42 branches, the report added.

These branch closures will affect almost 150 employees who will be offered other jobs within the bank.

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

According to Reuters, ING already shuttered many of its branches temporarily during the partial lockdown from March to June 2020 in the Netherlands.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Dusschoten said that reopening these branches did not attract many customers.

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

Recent branch closures

Earlier this month, ASB Bank closed nine branches in New Zealand.

Last month, Commerzbank said it would announce more branch closures and job cuts in August. In the same month, Spain’s Banco Sabadell planned to close 235 branches.

In May, Japan’s MUFG decided to permanently shutter 40% of its branches and Singapore’s OCBC considered branch closures as Covid-19 pushed digital banking adoption.

Commonwealth Bank of Australia (CBA) also temporarily shuttered 114 of its branches across the country and redeployed its staff to call centres and online operations.