The company said that 1,400 jobs would go from its retail banking business in the Netherlands, with a further 1,000 jobs going at ING Belgium, reports The BBC.
It is hoped the move will eventually result in combined cost savings of 270m euros ($364m; £230m) a year.
It takes the total job cuts at the bank to 7,500 in the past 15 months.
The announcement came as ING reported a 21% rise in net profit for the fourth quarter to 1.43bn euros, thanks to gains from asset sales.
However, the underlying pre-tax profit at its banking operations fell 72% to 184m euros. Its insurance unit made a profit of 272m euros, compared with a loss of 1.51bn euros a year earlier.
In 2009, ING said it was going to sell its insurance business in order to focus on its banking operation.
Several European banks – including Barclays, Commerzbank and UBS – have announced job cuts in recent months, with the banks reassessing their operations following the financial crisis.
