WestImmo reports sharp rise in earnings in 2008
- 2008 pre-tax earnings up to €121.2m
- New business opportunities taken despite continuing crisis on the financial markets
- Position as agent and arranger significantly strengthened
- Internationalisation and focus on commercial real estate
In 2008 Westdeutsche ImmobilienBank AG (WestImmo) recorded the best results in the history of the company. The bank, which specialises in financing commercial real estate in Europe, the USA and the Asian-Pacific region, boosted its pre-tax earnings by 15.5% on the previous year to €121.2m. The group’s net profit grew 5% to €96.7m.
“Our business model has proved to be both resilient and viable in what has been an extremely difficult year for real estate banks in particular”, commented Peter Knopp, Chairman of the Managing Board of WestImmo, when presenting the results for the year. “WestImmo has thus demonstrated its reliability as a partner to customers even in turbulent times such as these.”
The complete press release is attached:
Press briefings are available to download from the WestImmo website (www.westimmo.com).