DEPFA Bank

DEPFA BANK plc is a bank specializing in financing for the public sector. Originally founded in Germany and later re-established in Dublin, Ireland, it focused on providing loans and capital market solutions to governments and public authorities globally. During the 2008 financial crisis, the bank faced severe liquidity problems and was acquired by Hypo Real Estate Holding (HRE). Following HRE's own nationalization by the German government, DEPFA became part of the state-owned "bad bank," FMS Wertmanagement AöR, in 2014. Its mission is now the orderly wind-down of its remaining portfolio to minimize losses for the German state.