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- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
WestImmo eyes future outside WestLB. Says property credit, refinancing plentiful
European real estate banking and debt financing are changing fast. September PIE Q&A interview is with Peter Knopp, chairman, and Claus-Jürgen Cohausz, board member of the Mainz-based WestImmo, centre of property competence in WestLB ordered by the European Commission to be divested. This is a pre-condition for a reorganisation of landesbanks, potentially merging the current seven into just three. Knopp told PIE that WestImmo sees three basic scenarios for the bank's future. Cohausz refuted claims of a credit crunch, and said WestImmo new lending in the first half rose 3% to around e3.1bn. In the first half, WestImmo achieved net interest income of e87m, up 3%. The trading result was 16% higher.