WestLB likely lost 500 mln eur on H1 trades-sources

Newswire

DUESSELDORF, Germany, Aug 27 (Reuters) - German regional state bank WestLB [WDLG.UL] likely lost over 500 million euros ($678 million) on botched proprietary trades in the first half of the year, sources familiar with the matter said on Monday. Overall losses on proprietary trading were less than 500 million euros, however, because bank traders made money elsewhere, three sources told Reuters. The trades involved common and preference shares in companies such as Volkswagen , BMW and ...

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