Dutch lender ING's net profit down 48 percent in 2020

THE HAGUE: Dutch bank ING on Friday said net profit plummeted 48 percent last year to 2.45 billion euros (nearly $3 billion) due to the effects of the coronavirus pandemic.

"The effects of the Covid-19 pandemic and lockdowns were visible in a softening of lending demand, which affected net core lending, and in an increase in net customer deposits," it said in a statement.