Depfa, the public sector finance bank which recently moved its headquarters to Dublin, indicated yesterday it would be interested in supporting a metro project for the capital.
Raising its net profit forecast by 20 per cent to €300 million for 2003, the bank, which has backed public private partnership (PPP) schools projects in the Republic, said it is closely monitoring proposals to build a metro beneath Dublin and may be interested in striking a PPP deal with the Government.
But it said it could not formally declare an interest until the project received official go-ahead.
Total revenues for the first half of 2003 were up 41 per cent to to €298 million. Extended net interest income rose 33 per cent to €175 million, while net commission income improved to €36 million, compared to a €3 million deficit for the same period in 2002.
Depfa, which is listed on the Frankfurt stock exchange, generated €28.3 billion in new business in the first half of 2003, more than for the whole of 2002, said chief executive Mr Gerhard Bruckermann. The bank organises public sector bonds, raises money for infrastructure projects in Europe, the United States and Asia, and offers investment banking advice to public bodies.
Interest income increased by a quarter from the first three months of 2003 to €100 million, while trading profit adjusted for derivatives valuation and interest was unchanged at €16 million.
