Rabobank has reported a slight fall in annual profit and warned 2012 will be a difficult year because of weak European government spending and uncertainty in the financial markets.
Rabobank, which lost its AAA credit rating from Standard & Poor's last year, reported a 5% fall in net profit for 2011 to 2.6 billion euros.
A rise in bad debt costs caused net profit to fall.
Rabobank says it expects its operations to grow slower than in the past decade, due to the debt crisis and regulatory changes.
