Saturday February 22, 2020

Losses slashed at IFSC’s bailed-out German bank

Depfa losses down from €185 million to €53 milliom

Ian Guider

Markets Editor

3rd April, 2016
German bank Depfa has been bailed out

Depfa, the Dublin-based German bank that was one of the biggest casualties of the global financial crisis, cut its losses by more than two-thirds last year.

The bank, which is headquartered in the International Financial Services Centre, made a loss of €53 million, down from €185 million in 2015, according to its annual report published last week.

The lender needed to be rescued in 2008 by the German state, which took over the company and placed...

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