Depfa bank second quarter profits fall

IFSC-based Depfa Bank said second quarter profits fell 1.2% to €126 million.

Total revenues in the second quarter rose significantly by 13.2% year-on-year to €214m.

The bank said it is now on target to make full year profits of €500 million.

It said yesterday that strong generation of new business and very encouraging developments in new product areas helped buoy the second quarter result.