Dublin-based Depfa bank has redistributed more than €900m off its balance sheet and back to its German parent bank, in a move that analysts say could presage a sale of the IFSC outfit. Dublin-based Depfa bank has redistributed more than €900m off its balance sheet and back to its German parent bank, in a move that analysts say could presage a sale of the IFSC outfit. Depfa is being wound down but may be of interest to companies seeking an EU banking licence - like fintechs or UK operations impacted by Brexit, said one well-informed analyst. Depfa transferred more than three billion shares to Munich-based FMS Wertmanagement (FMS-W) - a 'bad bank' that is winding down its balance sheet. "The biggest advantage that the institution has is that it has a full banking licence in Ireland.

Source: Irish Independent March 31, 2019 17:03 UTC