Oldenburgische Landesbank

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  Oldenburgische Landesbank Aktiengesellschaft
logo
Country GermanyGermany Germany
Seat Oldenburg
legal form Corporation
Bank code 280 200 50
BIC OLBO DEH2 XXX
founding 1869
Website www.olb.de
Business data 2018
Total assets 19,093.0 million euros
insoles 11,345.9 million euros
Customer credit 13,959.9 million euros
Employee 2.154
Offices 167 locations (as of December 31, 2019)
management
Board Wolfgang Klein (Chairman)
Karin Katerbau
Hilger Koenig
Rainer Polster
Supervisory board Axel Bartsch (Chairman)
Logo until mid-2019

The Oldenburg Landesbank Aktiengesellschaft (OLB) is a private regional bank in northwest Germany. Its headquarters are in Oldenburg .

OLB was founded in 1869 by the Frankfurt bank Erlanger & Söhne with the privilege of issuing banknotes. The business areas of the universal bank today include private customer business including private banking and wealth management, corporate and corporate customer business, special financing, for example in the area of ​​commercial real estate or acquisition financing, and also the brokerage of real estate, home loan and savings contracts and insurance.

In 2018, the parent company Bremer Kreditbank was merged with OLB.

history

The first years

Seal mark Oldenburgische Landesbank - Oldenburg i-Gr.

The expansion of the railway network in the second half of the 19th century made the city of Oldenburg a traffic junction and the resulting economic development through trade and commerce made a bank in Oldenburg unavoidable. The Oldenburgische Spar- und Leihbank , which has existed since 1845, was unable to meet the new requirements.

The decisive impetus for founding the OLB came from the Oldenburg Secret Finance Councilor Carl Wilhelm Siebold , who worked as a secretary for the German Confederation in Frankfurt. His plan fell on fertile ground at the Frankfurt bank Erlanger & Sons. A private stock corporation with the privilege of issuing banknotes was intended.

On January 15, 1869, the Oldenburgische Landesbank opened its first business premises at Ritterstrasse 9 in Oldenburg.

The concession as a central bank was extremely generous. The bank was allowed to spend four times its capital in banknotes. The restrictions on the issue of small notes (which were popular as a substitute for heavy precious metal money) were also less restrictive than those of the other private central banks. The banknotes in circulation amounted to 6 million gold marks .

With the Banking Act of 1875, the possibilities of the private central banks were decisively restricted. OLB could only have issued banknotes up to the amount of equity capital and would have been subject to further restrictions. Since the new bank had developed extremely well, it decided in 1875 against the banknote privilege and in favor of general banking in order to be able to expand the catchment area of ​​the bank in the future.

From 1900 until the end of the Second World War

In 1904 the Dresdner Bank took over the Erlanger & Söhne banking house and thus also its participation in OLB.

In order to be able to provide more security in the troubled time between the two world wars, especially as a result of the global economic crisis , the OLB merged with the Oldenburgische Spar- und Leihbank with effect from December 31, 1933.

reconstruction

On June 20, 1948, the currency reform put an end to the turmoil of the post-war period. The bank balances of credit institutions and public institutions expired. For the third time in almost 80 years of existence, the OLB was about to start over. As the economy rebuilt , short-term lending flourished. In the 1950s, OLB expanded its branch network even further. The size and efficiency of the bank increased in these years, as did the scope of its business.

The last few decades

OLB administration building at traffic jam 17, Oldenburg

In two steps, the composition of the bank's group of shareholders changed decisively in the 1970s and 1980s. In 1978 the Staatliche Kreditanstalt Oldenburg , which had increased its stake to over 25%, transferred 14% of the share capital to Dresdner Bank. This had held its 25% stake since 1904 and has since gradually bought it. Now Dresdner Bank was able to book a majority of the capital. The shares of the State of Lower Saxony of 11% and that of the Staatliche Kreditanstalt Oldenburg were combined in the Oldenburg Holding Company to maintain the box privilege of a little more than 25%.

In the spring of 1986, the stake in the share capital of Oldenburgische Landesbank AG was restructured:

  • Dresdner Bank AG (64.1%)
  • Share of private investors, including employee shareholders (10.6%)
  • OLB-Beteiligungsgesellschaft mbH 25.3%

The shares in OLB-Beteiligungsgesellschaft mbH were held by the main shareholder Dresdner Bank AG with 98.8% and several long-term investors from the northwest with 1.2%.

With effect from December 23, 2008, Allianz Deutschland AG took over the voting rights previously held by Dresdner Bank in Oldenburgische Landesbank AG and in OLB-Beteiligungsgesellschaft mbH. The ownership structure as of April 23, 2009 was as follows: Allianz Deutschland AG 64.3%, OLB-Beteiligungsgesellschaft mbH 25.3%, share of private investors including employee shareholders 10.4%. The shares in OLB-Beteiligungsgesellschaft mbH were held by the main shareholder Allianz Deutschland AG with 98.8% and several long-term investors from the northwest with 1.2%. The percentages have been rounded.

The OLB today

Branches

Today the OLB maintains a nationwide network of locations with branches and self-service branches, which extends to the Weser-Ems region (includes the regions Osnabrücker Land , Emsland , Grafschaft Bentheim , Ostfriesland , Ammerland , Friesland , Oldenburg and Oldenburger Münsterland ) as well as Bremen (branch for corporate customers since July 1, 2009), Bremerhaven (branch for corporate customers since October 4, 2010), Verden (branch for corporate customers since April 4, 2011) and as the first branch in North Rhine-Westphalia since November 7, 2011 Rheine (branch for corporate customers ). OLB currently has 127 branches with personal advice and 40 self-service branches (as of December 31, 2019). The bank has announced that it will bundle its advisory services at larger locations, which will mean that in the medium to long term, smaller branches will be closed or converted into self-service branches, and at the same time, the telephone and internet contact channels will be further expanded.

In addition to the regional network of locations, OLB has branches in several major German cities (Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart) that focus on business with corporate customers and special financing.

On August 31, 2018, Bremer Kreditbank bought Oldenburgische Landesbank from Allianz. Allianz has been offering OLB for sale since 2016. The name Bremer Kreditbank is dissolved. The former headquarters of the BKB is now the largest OLB branch.

Holdings

The private bank W. Fortmann & Söhne (until the end of 2014 as a subsidiary, from 2015 until the closure at the end of 2016 as a branch ), Oldenburg , belonged to OLB . OLB sold its 100 percent stake in Münsterländische Bank Thie & Co., Münster, to VR-Bank Westmünsterland , Coesfeld, in December 2014 .

At the end of September 2016, Allianz was considering selling its OLB shares. On June 23, 2017, the takeover of Allianz Deutschland AG's shares in OLB (around 90.2%) for 300 million euros by Bremer Kreditbank, which is backed by the US financial investor Apollo Global Management , among others , was announced. The takeover approval from the supervisory authorities was available for the sale on February 7, 2018.

With the acquisition of additional shares, Bremer Kreditbank increased its OLB stake to over 95%, which enabled the shares of the remaining minority shareholders to be transferred in return for cash compensation through a squeeze-out . With the entry of the squeeze-out resolution under stock corporation law in the commercial register on June 27, 2018, the transfer became effective, and the stock exchange listing also ended shortly thereafter.

Apollo Global Management LLC uses Oldenburgische Landesbank AG as an umbrella company for acquisitions - together with a pension fund for teachers in Texas, the Teacher Retirement System of Texas and the investor Grovepoint Investment Management LLP, based in London. Before the merger with the Oldenburgische Landesbank, the Bremer Kreditbank acquired

The share of Oldenburgische Landesbank AG was included in the regional share index Nisax20 , which includes the 20 most important listed companies in the state of Lower Saxony. Until the end of the listing on June 28, 2018, the shares of OLB were last traded on the stock exchanges in Berlin , Hamburg and Hanover in the regulated market and in Düsseldorf and Frankfurt over the counter.

OLB has been a member of the Cashpool ATM network since April 2018 .

OLB Foundation

On the occasion of the 125th anniversary of OLB, it established the OLB Foundation in 1994. The sole purpose of the foundation is to promote culture and science in the OLB business area.

Allianz Bank

Allianz Bank was a branch of Oldenburgische Landesbank AG from 2009 to mid-2013.

With OLB remaining with Allianz in 2009, the new "Allianz Banking Germany" department was created at Allianz Deutschland AG. Allianz Bank was founded on January 26, 2009 as a branch of OLB. By the end of May 2009, the bank customers referred by Allianz Beratungs- und Vertriebs-AG (ABV) to the former Dresdner Bank (DreBa) were asked whether they wanted to be transferred from Dresdner Bank to the new Allianz Bank. After the migration of around 350,000 customers with a business volume of approx. 3.1 billion euros, Allianz Bank started operations on June 1, 2009. The focus was on the investment and deposit business. There are credit and Maestro issued cards in the "Alliance Blue". From 2011, a current account model was offered that enabled free cash supply worldwide. At the end of 2012, Allianz Bank had 817 specialist agencies and bank branches. Allianz Bank's operating losses in the 2012 financial year amounted to EUR 45.2 million. It was agreed between Oldenburgische Landesbank AG and Allianz Deutschland AG that Allianz Deutschland AG would offset all Allianz Bank losses incurred up to the end of 2014.

Due to the persistently deficit results and the failure to reverse the trend, Allianz Bank's business activities ended on June 30, 2013.

Web links

Commons : Oldenburgische Landesbank  - Collection of images, videos and audio files

Individual evidence

  1. ↑ a b Master data of the credit institute at the Deutsche Bundesbank
  2. ↑ Financial report as of December 31, 2018
  3. ↑ Announcement of the Oldenburg District Court file number HRB 3003 on August 31, 2018
  4. ↑ Announcement RGBl. 1876, p. 124 of April 1, 1876
  5. ↑ https://www.olb.de/dieolb/2609.php
  6. ↑ OLB opens branch in Rheine ( Memento from February 19, 2014 in the Internet Archive ) Article November 7, 2011
  7. ↑ Jörg Schürmeyer, Rüdiger Zu Klampen: This is what OLB is planning for branches and advice . nwzonline.de. February 5, 2020. Accessed March 23, 2020.
  8. ↑ https://www.weser-kurier.de/bremen/bremen-wirtschaft_artikel,-die-banken-bkb-und-olb-verschmelzen-_arid,1758292.html
  9. ↑ https://www.handelsblatt.com/finanzen/banken-versicherungen/oldenburgische-landesbank-allianz-törderung-olb-steigert-gewinn-durch-sondereffekte/19314044.html
  10. ↑ VR-Bank Westmünsterland is shopping ( memento of the original from December 29, 2014 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.borkenerzeitung.de
  11. ↑ Rüdiger zu Klampen, Jörg Schürmeyer: Guessing about a new partner of the OLB. Article in the Nordwest-Zeitung of September 28, 2016. Retrieved September 29, 2016.
  12. ↑ Lisa Boekhoff: Allianz sells OLB stake in Bremer Kreditbank . In: Weser-Kurier , June 23, 2017, accessed on June 24, 2017.
  13. ↑ NWZ Online: "Now fixed - takeover of OLB approved".
  14. ^ NWZ Online: "OLB General Meeting - OLB Small Shareholders Criticize Removal".
  15. ↑ NWZ Online: "Takeover of the regional bank - Bremer have OLB completely"
  16. ^ NWZ Online: "Farewell to the Stock Exchange - Historical Day for the OLB".
  17. ^ Stephan Kahl: Apollo Builds German Banking Group in the Shadow of Cerberus
  18. ↑ https://www.olb.de/privatkunden/konten-und-karten/bezahlen-mit-karten/girocard/
  19. ↑ Sebastian Jost: Dresdner customers have to agree to switch to Allianz-Bank. In: welt.de . March 11, 2009, accessed October 7, 2018 .
  20. ↑ http://www.allianzdeutschland.de/presse/news/news_2009-05-27.html
  21. ↑ Allianz SE - press release of March 10, 2009 ( Memento of the original of April 19, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.allianz.com
  22. ↑ Handelsblatt - card file: Allianz-Bank is missing customers from April 20, 2009
  23. ^ DGAP-Adhoc: "Oldenburgische Landesbank AG: Business activities of the Allianz Bank branch will be discontinued".

Coordinates: 53 ° 8 ′ 26.6 ″  N , 8 ° 13 ′ 7.6 ″  E