Rabobank made net profit of €1.9bn in the first half of 2011, a 13% rise on the year-earlier period, the bank announced on Wednesday.

The money will be used to strengthen the bank’s own capital fund to provide a solid financial buffer, the bank said.
It has also made provision of €104m for Greek state bonds and of €7m for state loans in Portugal and Ireland.
The cooperative bank has a total €690 in loans to Italy, Greece, Spain, Ireland and Portugal.