Targobank Acquires Oldenburgische Landesbank
The acquisition positions Targobank among Germany's top 10 private banks, with plans to expand into corporate and real estate financing.
- The Targobank, owned by Crédit Mutuel Alliance Fédérale, has acquired Oldenburgische Landesbank (OLB) for an estimated €2 billion.
- The merger creates a combined entity with 4.8 million customers and a balance sheet total of €79 billion.
- Targobank aims to develop into a universal bank, expanding into real estate and corporate financing as part of its growth strategy.
- The acquisition will not immediately impact OLB customers or business partners, though potential structural changes remain uncertain.
- It is unclear whether OLB will retain its standalone brand or be fully integrated into Targobank's operations.
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