Overview

• Targobank has officially acquired Oldenburgische Landesbank (OLB), integrating its 80 branches and 1,700 employees with Targobank's 340 locations and 7,400 employees.
• The combined entity will serve approximately 4.8 million customers, significantly increasing Targobank's market presence.
• The acquisition supports Targobank's transformation into a universal bank, with plans to expand into real estate financing and insurance services.
• OLB, previously majority-owned by an Anglo-American investor group, opted for a sale over an IPO to maximize long-term benefits.
• The purchase price for the acquisition remains undisclosed, and customer relationships and operational structures will remain unchanged during the integration process.