German state bad bank sold business to Bawag, which will continue the orderly winding down of the business
Bank expects to make money by running down former public sector lender
Depfa is former unit of Hypo Real Estate, which was bailed out in Germany
Bank based in Dublin is in wind-down mode and has more than €630m in reserves
The German lender based in Dublin has also drawn interest from hedge funds
Bank nearly collapsed during 2008 financial crisis
Revenue of Irish-based German bank insufficient to cover costs, Moody’s and S&P note
Dublin-based Depfa is planning to hand back excess capital to German bad bank FMS-WM
By September 2008, it was obvious something had to be done to save Anglo
Key players recall events leading to the bank guarantee – and its aftermath
German bank likely to strip out Dublin-based bank’s excess capital before seeking disposal
Depfa’s net profit almost doubled last year due to asset and liability transactions with FMS-WM
Depfa executives and FMS-WM believe sale of licensed Irish bank could play into Brexit shakeout
German prosecutors drop fraud charges against ex-managers of bailed-out lender
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