Depfa bank to launch operations

"Depfa Bank cooperates with both central and local public authorities. It co-finances the projects prepared by municipalities or state-owned companies. Our potential customers in Poland would be such companies as LOT airlines or PKP - the national railways. We would also be interested in granting loans to public-private partnerships," says Paweů Pilatkowski, head of the Polish office of Depfa Bank.

Originally a German government agency bank, Depfa reorganized itself in 2002, shed its property loan operations and moved its headquarters to Ireland. The bank's businesses have been consolidated into three groups: budget finance, investment banking, and infrastructure finance. Its net income in 2004 amounted to Ł382.3 (zů.1,881) million and total financing volume stood at EUR 165 (zů.648) billion in June 2005. The institution has already obtained the approval of the Commission for Banking Supervision.