 | |
| Company type | Public |
|---|---|
| Industry | Financial services |
| Predecessor | Oldenburgische Spar- und Leihbank  |
| Founded | 15 January 1869 |
| Headquarters | , |
Number of locations | 40 |
Key people | Stefan Barth, CEO |
| €464.4m (9M 2023) | |
| Total assets | €25,046.2m (9M 2023) |
Number of employees | 1,240 FTE (9M 2023) |
| Website | olb |
Oldenburgische Landesbank AG (OLB) is a private financial institution from north-west Germany that serves its customers under the two renowned brands OLB Bank and Bankhaus Neelmeyer throughout Germany and in selected neighbouring European countries. Its headquarters are in Oldenburg.
OLB was founded in 1869 by the Frankfurt-based bank Erlanger & Söhne with the privilege of issuing banknotes. Their first director was Lorenz Zuckermandel.[1] Today, the universal bank is partner for its clients in two strategic business segments: Private & Business Customers including high-net-worth customers in the field of Wealth Management, and Corporates & Diversified Lending including for instance Corporate Finance, Commercial Real Estate, Acquisition Finance and Football Finance.
OLB maintains a wide network of locations, which focuses on the northwestern part of Germany, known as Weser-Ems (comprising Osnabrück Land, Emsland, County of Bentheim, East Frisia, Ammerland, Friesland, Oldenburg (Oldenburg), and Oldenburg Münsterland), as well as Bremen (since 1 July 2009). Its first branch in North Rhine-Westphalia opened 7 November 2011 in Rheine, yet has been closed again in the meantime.[2]
Currently, OLB operates 40 branches in north-west Germany, including 16 competence centres serving as anchor points for personal customer relationship management and regional advisory services. In addition, the Bank operates about a dozen self-service branches in north-west Germany (all figures as of 31 March 2023). The bank bundled its advisory services at these larger locations, which led to smaller branches being closed or converted to self-service branches, while at the same time OLB is also continuing to expand its business across Germany via digital channels, platforms and partners.[3]
On 23 June 2017, Bremer Kreditbank AG acquired a majority stake in OLB from Allianz. The parent company Bremer Kreditbank was merged with OLB in 2018. In addition, Wüstenrot Bank was acquired by Wüstenrot & Württembergische in 2018. This was followed by the signing of an agreement to purchase Degussa Bank in September 2022. Closing of this transaction is expected in the second half of 2023.
OLB’s shares are largely held by shareholders associated with Teacher Retirement System of Texas, the private equity firm Apollo.[4][5] and Grovepoint Investment Management.
