Targobank Acquires Oldenburgische Landesbank

The acquisition elevates Targobank into Germany's top 10 private banks and expands its offerings into real estate financing and insurance.

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.