Stock exchange bank KasBank is cutting its 750 strong workforce by 100 in an effort to cut its costs structurally.

KasBank, which traces its history back 200 years, has been hit by very low interest rates and ‘the situation is not likely to improve in the coming years,’ chief executive Albert Roell is quoted as saying by the Financieele Dagblad.

The bank sold one of its listed Amsterdam city centre offices last year and has not ruled out selling the second building, the FD says.