German-Irish bank Depfa, a leading provider of financial services to public sector clients, this morning reported net profits were up 45.9% to €540m in 2004.
The bank put the strong increase down to a sharp rise in net interest income to €427m last year from €370m a year earlier and to big gains from the sale of assets, which totalled €357m in 2004.
Depfa said in it would increase its dividend payment to €0.17 per share for 2004 from €0.12 a year earlier.
Operating profit rose by 32% to €490m, exceeding Depfa's own target of €450m.
