OLB Achieves Record Financial Results for 2024

Oldenburgische Landesbank AG (OLB) announced record financial results for 2024, marking significant growth over the previous year. Pre-tax profit rose to EUR 365 million, an 8.8% increase from 2023. Net profit after taxes surged by 17.4% to EUR 270.4 million. This growth was bolstered by the integration of Degussa Bank, completed in August 2024, and robust organic growth.

The bank expanded its customer base to nearly one million, with the balance sheet total increasing to EUR 34.3 billion. OLB remains under European Central Bank supervision due to its significant status in Europe. The return on equity after taxes improved to 17.1%, with a cost-income ratio adjusted for acquisition expenses at 42.6%.

Customer deposits grew to EUR 22.3 billion, supported by new interest rate offers. Operating income increased by 15.1% to EUR 741.8 million, driven by a rise in net interest and commission incomes. Despite challenges, risk provisions were within expected limits.

Looking forward, OLB plans to enhance digital services and expand its presence in Private Banking under the Bankhaus Neelmeyer brand.