ING, the largest bank in our country, posted a profit of 1 billion euros in the first quarter of this year.

That is 50 percent more than in the same period last year, the bank announced on Thursday.

At the end of March, the bank announced that it would close more than half of the bank branches in the Netherlands.

That number will be reduced by almost 70 to 59 by July next year. 440 jobs will also be lost.

ING CEO Steven van Rijswijk said in the presentation of the figures that the reduction in the number of branches is related to the increased use of digital and mobile. "In response to the increased use of these channels by our customers."