Oldenburgische Landesbank AG

Moody's upgrades OLB's ratings, reflecting strengthened financial profile and outlook

Oldenburgische Landesbank AG / Key word(s): Rating


07.02.2024 / 15:10 CET/CEST
The issuer is solely responsible for the content of this announcement.

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PRESS-RELEASE Oldenburg, 7 February 2024 Senior unsecured and long-term issuer ratings improved to Baa1 from Baa2 with stable outlook Rating development confirms OLB's strong and resilient business model, robust financial metrics as well as prudent risk management OLB has recently achieved an upgrade of its long-term deposit, senior unsecured, and long-term issuer ratings by the rating agency Moody's to Baa1 from Baa2. The outlook on these ratings has been changed to ‘stable’ from ‘positive’, reflecting the confidence in OLB's strengthened financial position and prospects in a challenging economic environment. Moreover, OLB's Baseline Credit Assessment (BCA) was upgraded to baa2 from baa3. This change further underscores the bank's improved solvency and liquidity profiles, which Moody's expects to remain robust despite external pressures. Throughout the first nine months of 2023, the period covered by Moody’s, OLB demonstrated resilience in asset quality metrics, supported by improved profitability and solid risk-weighted capitalization. In addition, Moody's acknowledges OLB's strategic acquisition of Degussa Bank, which is expected to be completed in the first half of 2024. The acquisition will likely strengthen OLB's retail-focused deposit funding base and generate cost synergies, thereby enhancing the bank's loss-absorption capacity and limiting reliance on market funding. "We are pleased with Moody's decision to upgrade our ratings, which reflects our continued commitment to maintaining a strong and resilient financial position," says Dr Rainer Polster, CFO of OLB. "The upgrade confirms the success of our strategic initiatives and positions us well for sustained growth and stability in the future." The affirmation of OLB's short-term deposit and issuer ratings at P-2 is in line with the upgrade of the corresponding long-term ratings, underscoring Moody's confidence in the bank's  stability and creditworthiness. Looking ahead, the stable outlook on OLB's ratings reflects Moody's expectation of continued fundamental strength, supported by prudent risk management practices and adequate liquidity buffers. Factors that could lead to further upgrades include sustained improvements in profitability and capitalization, while potential downside risks include a pronounced decline in asset quality given the challenging macroeconomic environment or the unlikely event that the planned synergies from the Degussa Bank acquisition will not be archived. OLB remains committed to delivering value to its customers and stakeholders while maintaining a strong financial foundation. The upgraded ratings are testament to OLB's resilience and strategic vision in navigating dynamic market conditions. About OLB Oldenburgische Landesbank AG is a profitable and growing universal bank for private and corporate customers in Germany and neighbouring European countries. Under its OLB Bank and Bankhaus Neelmeyer brands, OLB advises its more than 660.000 customers in person and via digital channels in its Private & Business Customers and Corporates & Diversified Lending segments. The Bank has about EUR 25 bn of total assets. Feel free to visit us at www.olb.de and www.neelmeyer.de as well as on Facebook, Instagram and YouTube.

Contacts:	Your contact persons:
Oldenburgische Landesbank AG     Investor Relations Theodor-Heuss-Allee 108 60486 Frankfurt am Main / Germany   Phone [phone] [e-mail]	Sandra Büschken Phone [phone]     [e-mail]
Oldenburgische Landesbank AG Corporate Communications & Investor Relations Stau 15/17 26122 Oldenburg   Fax: [phone] [e-mail]	Britta Silchmüller Phone [phone] [e-mail]   Timo Cyriacks Phone [phone] [e-mail]

  Disclaimer This information does not contain any offer to acquire or subscribe the securities mentioned therein, nor should it be construed as an invitation to do so. The opinions expressed herein reflect our current assessment, which is subject to change even without prior notification. This information cannot be regarded as a substitute for individual advice tailored to the investor's respective situation and investment objectives. The information contained in this press release includes financial and similar information which is neither audited nor finally reviewed and should be considered preliminary and subject to change. Likewise, this document does not, either in whole or in part, constitute a sales prospectus or any other stock exchange prospectus. The information contained in this document therefore merely provides an overview and should not form the basis of an investor's potential decision to purchase or sell the securities. The information and assessments (collectively referred to as "information") are intended solely for clients with their registered office in the Federal Republic of Germany. In particular, this information is not addressed to US citizens or US residents and US persons or Australian, Canadian, British or Japanese citizens or residents and must not be distributed to such persons or introduced into or disseminated in such countries. This document including the information contained therein may be used abroad only in accordance with the relevant applicable law. Any persons receiving this information shall be obliged to familiarise themselves with and observe the legal provisions applicable in their respective country. This document has been prepared and published by Oldenburgische Landesbank AG, Oldenburg. The information has been carefully researched and is based on sources deemed to be reliable by Oldenburgische Landesbank AG. However, the information may no longer be up-to-date and may be obsolete by the time you receive this document. Furthermore, it cannot be ensured that the information is correct and complete. Oldenburgische Landesbank AG therefore assumes no liability for the contents of the information. In addition, this document in connection with Oldenburgische Landesbank AG contains various forward-looking statements and information based on the management's beliefs and on assumptions and information currently available to the management. Considering the known and unknown risks associated with the business of Oldenburgische Landesbank AG as well as uncertainties and other factors, the future results, performances, and outcomes may differ from those deduced from such forward-looking or historical statements. The forward-looking statements speak only as of the date of this document. Oldenburgische Landesbank AG expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements to reflect any change in its expectations with regard thereto or any changes in events, conditions, or circumstances on which any forward-looking statements are based. Any persons receiving this document should not give undue influence to such historical statements and should not rely on such forward-looking statements. This document also contains certain financial measures that are not recognized under IFRS or German GAAP (“HGB”). These alternative performance measures are presented because Oldenburgische Landesbank AG believes that they and similar measures are widely used in the markets in which it operates as a means of evaluating its operating performance and financing structure. They may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS, HGB or other generally accepted accounting principles.

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07.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language:	English
Company:	Oldenburgische Landesbank AG
	Stau 15-17
	26122 Oldenburg
	Germany
Phone:	0441 - 221 - 0
E-mail:	[e-mail]
Internet:	www.olb.de
EQS News ID:	1832637

End of News	EQS News Service

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1832637  07.02.2024 CET/CEST