Dublin-based Depha bank posted €79 4m loss before sale deal irishtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from irishtimes.com Daily Mail and Mail on Sunday newspapers.
Dublin-based Depfa Bank is set to be bought by Austrian lender Bawag from a German State bad bank for an undisclosed sum and will continue the orderly winddown of the business.
Bawag said that it will be able to make money from continuing to run down the former public-sector lenderâs low-risk assets. It would also give the Vienna-headquartered bank access to Depfaâs excess capital reserves, according to industry observers.
âThe acquisition of Depfa represents an attractive and capital accretive investment opportunity,â said Anas Abuzaakouk, chief executive of Bawag. âThis allows us to acquire high-quality low-risk assets, leverage our balance sheet, and draw upon on our existing infrastructure and operational capabilities.â