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WestLB AG is a universal bank based in Düsseldorf, Germany which is partly owned by the German state of Nordrhein-Westfalen. The bank was incorporated on January 1 1969. Total assets of the group are €262.4 billion. Operations are spread over Europe, including significant investment banking operations in London, United Kingdom and Luxembourg. WestLB is also the central institution for savings banks in Nordrhein-Westfalen. On August 30 2002 WestLB was transformed into a joint stock company (AG) and on July 19 2005 institutional liability and guarantor liability was abolished, allowing the company to concentrate on commercial operations.
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