WestLB: Clarification of Article in the Rheinische Post
In an article published in the Rheinische Post newspaper on July 24, 2003, the impression is given that risks in an amount of € 1.5 billion had accumulated in the Principal Finance unit of the Bank. This is incorrect.
In the article transaction volume and risk are confused with one another. Two reputable international investment banks recently examined the portfolio of the Principal Finance unit – with the exception of the well-publicised case of risk provisioning – and confirmed its intrinsic value.
