WestLB AG, Toronto Branch Reaches C$ 1 Billion in Assets
WestLB announced today that its Toronto branch recently reached C$ 1 billion in assets, along with record levels of upfront fees, revenues and profit before tax. The branch was opened in early 2003 and within just a few years has firmly established itself in the Canadian market.
This is a milestone for WestLB, as Canada is a very competitive market. WestLB had to both compete effectively and partner up with major Canadian and foreign banks in order to win deals. WestLB is very pleased to break into this market and become a valued partner to our clients in Canada over a relatively short period of time.
During the current year, WestLB won seven Arranger/Agent mandates, four of which have already closed. WestLB’s main industry focus in Canada includes Energy, Media Entertainment & Telecom, Metals & Mining, Diversified and Real Estate.