Dublin is to become the headquarters of DEPFA Bank, which provides financial services to public sector authorities worldwide, following the split of DEPFA Group into two independent, separately listed banking groups.
DEPFA provides services including budget financing and infrastructural projects, credit analysis, placement of public debt in the capital markets and advisory services.
It serves about 2,000 clients worldwide, mainly in Europe, North America and Japan.
The group's Irish subsidiary, DEPFA Bank Europe, was established in Dublin in 1993 and currently employs around 70 people. Its activities will be folded into the new DEPFA Bank.
DEPFA group will be split from June 2002, with DEPFA Bank and its property bank Aareal quoted separately in Frankfurt.
