WestLB International S.A.: Stable Result, Dividend Unchanged
WestLB International S.A., Luxembourg, posted a satisfactory result in the 2002 financial year. Despite difficult market conditions, the Bank was able to report a profit after taxes of EUR 30 million, as in the previous year. This amount was distributed in full to the parent company. Total assets remained unchanged at approx. EUR 15.3 billion. At December 31, 2002, the Bank employed 169 (2001: 182) staff. On the basis of the course of business so far this year, the Bank expects to post a result for 2003 which is on a level with that of the previous year.
WestLB International S.A. is a subsidiary of WestLB AG, Düsseldorf/Münster. It conducts business in Luxembourg in the areas of Credit Portfolio Management, Trading (Treasury and Capital Markets) and Private Banking.