ING will cut 400 jobs globally within its wholesale banking division, the Dutch financial group announced on Thursday with its quarterly results. Largely thanks to rising interest rates, the bank posted a profit of €1.85 billion in the third quarter, up 3.5 percent from a year earlier. According to ING CEO Steven van Rijswijk, the job cuts are needed to streamline the wholesale banking division. This will also make it easier for clients to do business with the bank.