Describe your business model (including type of company, products / services)
Oldenburgische Landesbank AG (OLB) is a financial institution rooted in Northern Germany offering its services to clients all over Germany under the brands of OLB Bank and Bankhaus Neelmeyer (BHN). After the acquisition and legal merger with Wüstenrot Bank AG Pfandbriefbank, the Bank integrated in its processes the business of Wüstenrot Bank AG Pfandbriefbank in 2020 which is complementary to OLB’s Private Client business unit and thus took another step toward becoming a financial institution active all over Germany with a comprehensive service offer for its wide range of clients.
Any and all stocks of OLB are held by shareholders that are connected with the Teacher Retirement System of Texas, Apollo Global Management and Grovepoint Investment Management. The shareholders are independent of each other, each holding an indirect participation of less than 40 % which means that none of the shareholders controls OLB as defined in the German Stock Corporation Act. The Bank is sole shareholder of three companies that are not active in banking. Furthermore, OLB acquired an interest in a second compartment of Weser Funding S.A. in 2020. Both Compartments serve to improve the Bank’s liquidity situation by securing parts of the Bank’s credit portfolio. The pension fund to which a large part of the pension liabilities was transferred in 2019, including the cover assets that were allocated to them for meeting these obligations, is to be characterised as another special purpose subsidiary under the provisions of the German Commercial Code. Any and all of the above-mentioned companies are, individually and combined, of inferior importance for the Group’s asset, financial situation and result of operations so that there is no need for the Bank to prepare Consolidated Financial Statements. Since neither the stocks nor other securities or mortgage bonds issued by OLB are traded on an organised market as defined in Sec. 2(11) of the WpHG [German Act on the Securities Trading], the Bank is not considered as being capital market-oriented as that term is defined in Sec. 264d of the HGB [German Commercial Code].
Given its target clients, products and services as well as locations, OLB’s focus is on three strategic business fields:
OLB’s strategic business field of Private Clients that consists of a centrally controlled network of branches and the Oldenburg advisory centre (“Beratungscenter Oldenburg”) offers competent consulting and management services based on personal and trusting contact. In parallel, online and mobile sales channels provide clients directly with need-based products and modern services. In its retail business, the Bank focusses on current accounts and credit cards, online banking as well as mobile banking via its OLB Banking-App, instalment loans, private construction financing and private monetary investments. Moreover, OLB offers insurance brokerage and support for private real estate acquisitions or sales.
In this business field, OLB offers sustainability-based consulting services for capital formation and a complex financing management. For this purpose, the Bank combines the knowledge of its trained experts with very personal, individual consulting. For Wealth Management services, the Bank is presented by the brand Bankhaus Neelmeyer, which is mainly established in the Bremen region. Exclusive financial and pension planning, real estate management and generation management as well as foundation management round off the Bank’s asset management offer.
In its strategic business field of Corporate and SME, OLB designs tailor-made solutions for equipment financing, investment financing, forfaiting, export financing / document business and foreign payment transactions. In addition, it offers active interest rate, currency and liquidity management, supports the founding of companies and project financings in the field of renewable energy. Its service offer goes beyond the core business of OLB that is based in the region of Weser-Ems and is available all over Germany through branches in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hanover, Munich and Stuttgart. In 2020, the business field was expanded by the field of Football Finance.
Experienced teams active in the strategic business field of Specialized Lending focus on individual advice for classic and complete financing solutions. The following three areas form the key focus:
- Acquisition Finance, which comprises, in particular, the arrangement and structuring of borrowed capital financing to support the acquisition of medium-sized companies in Germany, Austria and Switzerland;
- Commercial Real Estate, which includes commercial real estate financing for builders and property developers and support for investors in real estate projects in Germany and the Netherlands; and
- Shipping with selective, conservative new transactions with sea vessels depending on cargo rates, both in Germany and neighbouring countries.