Crédit Mutuel Alliance Fédérale Completes Acquisition of OLB in Germany

Crédit Mutuel Alliance Fédérale has finalized the acquisition of Oldenburgische Landesbank (OLB) through TARGO Deutschland GmbH. This acquisition aligns with the group's 2024-2027 strategic plan and expands their bancassurance model into Germany. The acquisition is set to make the group the tenth largest bank in Germany.

OLB’s integration will enhance TARGOBANK's services in retail and corporate banking while distributing products from ACM Deutschland. The strategic move has been approved by the European Commission and relevant banking authorities, ensuring no disruption for existing customers.

Isabelle Chevelard, now Chairwoman of the Supervisory Board of OLB, highlights the synergies gained, enabling faster and more sustainable growth. This acquisition is a key step in building a universal bancassurance presence in Germany, supported by a strong, multi-brand strategy.