ING's profit nearly halved last year.
Bottom line, the bank had a net result of EUR 2.49 billion, which is 48 percent less than in the previous year.
This is evident from the annual figures released by the bank on Friday.
It has also become clear that ING customers saved considerably more last year and took out considerably fewer loans.
Last year's profit nearly halved, partly because the bank had to make provisions for loans that may not be repaid.
These are loans to companies severely affected by the COVID-19 outbreak.
Sales at ING last year amounted to 17.6 billion euros, a decrease of 3.7 percent.
The figures also show that customers have saved considerably more, probably because they were able to spend less because of the lockdown.
Economic uncertainty may also have played a role.
Already in the course of last year, figures from De Nederlandsche Bank showed that the Dutch have hoarded a lot during corona time.
The number of loans decreased last year, by 2.5 billion euros.
"Demand for loans from businesses and consumers has fallen due to less economic activity and increased uncertainty," the bank said in an explanation.
This, too, resulted in a lower profit at ING last year.
The bank does notice that there was a "healthy demand" for mortgages last year.
This is not surprising, since it has already been shown that the corona crisis had hardly any influence on the demand for owner-occupied homes.
In November, ING announced that it plans to cut 1,000 jobs and close offices by the end of 2021, mainly in Asia and South America.
The bank then announced that jobs in the Netherlands may also be lost, although the majority of jobs will disappear abroad.