ABN Amro, the largest Dutch retail bank, said its underlying fourth-quarter net profit fell 32% from a year earlier to €272m, hit by regulatory costs and taxes.
The figure was below the consensus forecast for net profit of €304m among analysts polled by Thomson Reuters.
In its first earnings report since its November 20 stock market listing, ABN said the economic backdrop in the Netherlands, where it does 80% of its business, remained positive.
Provisions for bad loans fell by about a third to €124m, and net interest income on both mortgages and corporate loans increased.
The bank's chief executive Gerritt Zalm said that ABN Amro expected to be relatively insulated from turbulence on world markets in 2016, given the positive outlook for the Netherlands and the bank's position there.
But he did not give any specific forecast.