WESTLB LUXEMBOURG REPORTS LOWER 1986 NET PROFIT

  Westdeutsche Landesbank Girozentrale
  &lt;WELG.F> said its wholly-owned Luxembourg subsidiary WestLB
  International SA posted a decline in 1986 net profit to 12.6
  mln marks from 48.5 mln a year earlier.
      WestLB International will pay a 12.5 mln mark dividend to
  WestLB, down from 47.7 mln a year earlier.
      The dividend was lower than in 1985 because the record
  profit of the previous year could not be repeated, due to
  changed market conditions, it said. Increased funds were also
  allocated for provisions. Business in the first three months of
  1987 developed positively, it added.
      WestLB International set aside 115.3 mln marks for
  international credit risks in 1986, up from 97.4 mln marks in
  1985, bringing the total amount of provisions shown in the
  balance sheet to 580.3 mln marks.
      Operating profit fell to 122 mln marks in 1986 from 150 mln
  in 1985. Balance sheet total fell to 9.7 billion marks from
  10.8 billion, reflecting the lower dollar and the fact that
  credit business redemptions were not fully offset by new
  lending.
      The statement said WestLB International's business with
  private customers showed a pleasing expansion last year.
      This development was aided by cooperation between the bank
  and the savings banks in the West German state of North
  Rhine-Westphalia, where parent bank WestLB is based.
      Deposits by non-banks rose more than 40 pct to a total of
  1.1 billion.
      WestLB International said it plans to expand its range of
  services for private clients.
  

