Depfa Bank plc

Type	Private (subsidiary of Hypo Real Estate)
Founded	Berlin, Germany (1922)
Founder(s)	State of Prussia
Headquarters	Dublin, Ireland
Industry	banking
Operating income	€874 million (2006)[1]
Website	www.depfa.com

Depfa Bank plc is a Dublin-based German-Irish bank. It provides financial services to the public sector and also provides financing for larger infrastructure projects.

[edit] History

Depfa Bank was established in 1922 under auspices of the Prussian government, and was asked to provide financing for residential construction projects. Its more recent history began in 1950s, when the bank become a federally owned corporation, and was to provide for a wide range of residential mortgages. When the corporation lost its tax-free status in the 1970s, it entered the commercial lending industry, becoming the largest German underwriter of public covered bonds. The bank was privatized in 1990, and obtained a FSE listing in 1991.

At the end of the 1990s, the bank went through a legal restructuring, which led the bank to move its headquarters to Dublin, Ireland. Depfa Bank was purchased by German mortgage giant Hypo Real Estate in October 2007.

[edit] References

1. ^ "DEPFA Annual Report 2006 - Consolidated Income Statement". Depfa. http://www.netfed-reports.de/depfa2006/en/index.php?option=com_content&task=view&id=10076&Itemid=59. Retrieved 2008-10-07. 

[edit] External links

• Official site

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