WestImmo posts €64m profit ahead of sale

WestImmo, the German property bank which is being bought by Aareal, has posted a profit after tax of €64.1m for 2014, up 27% from the previous year. "We are very pleased with our results”, said Claus-Jürgen Cohausz, chairman of WestImmo's management board.. “The bank has emerged as a focused pfandbrief bank with a low risk profile.”