"Risk costs for the bank have been increasing amid the economic downturn, and we don't foresee...

|By:, SA News Editor

"Risk costs for the bank have been increasing amid the economic downturn, and we don't foresee an immediate improvement," dourly said ING CEO Jan Hommen in a New Year's speech to employees. "We must continue to align our cost structure to a leaner operating environment." His words suggest more another round of job cuts for the bank.