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28 May 2012

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German WestImmo ups net 14%, new biz slides

Mainz-based real estate financier WestImmo, a unit of landesbank WestLB, last year boosted net income by 14% to E94.8m. New business volume was E3.3bn, almost halved from 2009. "In spite of the sale process we have been able to post a sharp improvement in our earnings and key income ratios and achieve a satisfactory volume of new business," said Chairman Peter Knopp.

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