Triodos Bank is set to cut between 250 and 270 jobs to rein in costs, making it the latest Dutch bank to announce a reorganisation. The cuts are intended to save €25 million to €30 million a year by the end of 2028.

At the end of 2024, Triodos employed the equivalent of 1,798 full-time staff, meaning the planned reduction amounts to around 15%. The bank said it expects to limit compulsory redundancies through natural turnover and by hiring fewer external staff.

Triodos follows larger rivals that have already announced job losses. ABN Amro, ING and ASN have unveiled large-scale reorganisations over the past year, mainly targeting departments involved in anti-money laundering checks.

Triodos wants to bring its cost-to-income ratio down to between 70% and 75%, from 86% last year. By comparison, ABN Amro reported a ratio of 64.9%, while ING stood at 51.1%.