The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
225 jobs Number of planned job losses
Announcement Date
18 February 2021
Employment effect (start)
Foreseen end date
31 December 2021
Description
The Dutch financial group ING has decided to leave the Czech banking market and to cut 225 job positions in the Czech Republic during 2021. By the end of 2021, ING will end its personal banking services, which consist of savings accounts and investments in mutual funds. The reason for the decision to discontinue personal banking services after more than 20 years is the current unfavourable economic situation. ING has entered into agreement with Raiffeisenbank, which will give current ING clients the opportunity to become its customers and transfer their savings and investments there from March 2021. The remaining 130 corporate bank officials will continue to provide corporate banking services to Czech and global clients from the Prague office.
Eurofound (2021), ING Bank Czech Republic, Internal restructuring in Czechia, factsheet number 103581, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/103581.
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