Profits were down 23% last year at Clearstream, the international central securities depository, following exceptional charges related to a money laundering investigation, and a termination agreement with its former chief executive.

Profit before tax and exceptional items amounted to €195m ($169.3m). However, the depository incurred one-off costs of €29m. These related to funding a new head office, legal costs relating to an investigation of the depository following allegations of money laundering, and severance payments for André Lussi, who was dismissed as chief executive when the allegations were made. Weaker equities markets also caused a resulting drop in profits.