US bank moved $80m through Dublin subsidiary

Bear Stearns, a US investment bank, channelled more than $80 million (€66 million) through its Dublin subsidiary last year, using a series of inter-company loans.

15th April, 2006

Bear Stearns, a US investment bank, channelled more than $80 million (€66 million) through its Dublin subsidiary last year, using a series of inter-company loans.

The company reported profits of almost $40 million for the year ending November 2005, up from $33 million for the year before, according to accounts just filed.

The company generated just $5million in fee income during the year, with the bulk of its income coming from $100 million in interest, compared with $47 million...

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