FRANKFURT - German state bank WestLB will say in a few days that it posted a three-digit million euro net profit in January-March, its best-ever first-quarter, Chief Executive Heinz Hilgert told a German weekly magazine.

He also said the bank reduced its administration costs by nearly one-fourth, according to Der Spiegel's pre-release on Saturday.

Hilger said WestLB is prepared to merge with other banks and give up its legal personality.

He said he expects the European Commission will make an announcement this week regarding its demand for Germany to sell its stake in WestLB.

Germany