The major Dutch bank ING has suffered a slump in profits due to higher risk provisions and the mortgage dispute in Poland.
The pre-tax profit fell in the third quarter by 28.3 percent to 1.38 billion euros, as the money house announced on Thursday.
Inflation and high energy prices have had an impact on both the bank's costs and customers.
CEO Steven van Rijswijk said ING had "performed solidly, especially given the difficult economic and geopolitical environment," announcing a new €1.5 billion share buyback.
ING's provisions for bad loans increased tenfold in the third quarter to 403 million euros from 39 million a year ago.
In addition, charges were also incurred at ING due to the changed mortgage legislation in Poland.
This allows borrowers to suspend their monthly mortgage loan payments multiple times.
At ING, this cost 343 million euros.
Among others, Commerzbank and BNP Paribas had felt the changes in legislation.
The background is that thousands of Polish borrowers took out mortgages in Swiss francs many years ago in order to benefit from lower interest rates in Switzerland.
But the Swiss franc gained in value compared to the zloty, and costs for customers rose.