WestLB CEO says Q1 net profit best-ever - paper
FRANKFURT, May 9 (Reuters) - German state bank WestLB (WDLGgi.F: Quote, Profile, Research) will say in a few days that it posted a three-digit million euro net profit in January-March, its best-ever first-quarter, Chief Executive Heinz Hilgert told a German weekly magazine.
He also said the bank reduced its administration costs by nearly one-fourth, according to Der Spiegel's pre-release on Saturday.
Hilger said WestLB is prepared to merge with other banks and give up its legal personality.
He said he expects the European Commission will make an announcement this week regarding its demand for Germany to sell its stake in WestLB.
© Thomson Reuters 2009 All rights reserved
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
GLOBAL RECOVERY
Global economy in holding pattern - IMF
The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months. Full Article
India
US
UK
