UPDATE 1-Proprietary trades push WestLB to H1 pretax loss

Newswire

(Adds detail, background) FRANKFURT, Aug 30 (Reuters) - German state-backed lender WestLB [WDLG.UL] reported a pretax loss of 38 million euros ($51.92 million) in the first half, hit by proprietary trading losses, but said it expected to be in profit for the full year. "Our profit has been severely hit by the losses incurred in our proprietary trading," WestLB Chief Executive Alexander Stuhlmann said in a statement on Thursday. WestLB had made a pretax profit of 239 million euros a ...

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