ING to cut jobs and restructure units amid profit miss, launches €1.9B buyback

ING $ING reports quarterly profit falling short of estimates while announcing significant job cuts and unit restructuring as part of a capital return program directing €1.9 billion to shareholders via buyback and cash distribution. The Dutch lender signals operational strain amid competitive headwinds in European banking.

Simultaneously, fellow European bank BBVA Compass $BBVA beats earnings forecasts with robust net interest income, highlighting divergent performance across the continent's banking sector as rates stabilization reshapes lending dynamics. #banking #europe #markets