OLB Achieves Record Financial Results in 2024

Oldenburgische Landesbank AG (OLB) reported record financial results for 2024, with a pre-tax profit of EUR 365 million, an 8.8% increase over 2023. The net profit after taxes rose by 17.4% to EUR 270.4 million. The successful integration of Degussa Bank significantly contributed to these results alongside organic growth, increasing customer numbers to nearly one million.

The bank's loan volume rose by 29% to EUR 25.4 billion, with significant contributions from Degussa Bank and Tulp Hypotheken. OLB attracted new customer deposits, which amounted to EUR 22.3 billion, supporting loan growth. Operating income increased by 15.1%, driven by higher net interest and commission income.

OLB maintained strong capital and liquidity ratios, with a CET1 ratio of 13.1% and a Liquidity Coverage Ratio of 161.8%. The bank plans to expand its digital services and remains prepared for a potential IPO.