NIBC signs agreement for the acquisition of Gallinat-BankPress Release -
Today, 12 March 2014, NIBC announces it signed an agreement with ALBIS Leasing AG for the acquisition of German bank Gallinat-Bank AG. The owner ALBIS Leasing AG is listed on the stock exchanges of Frankfurt and Munich. Gallinat-Bank offers financing and leasing products to German medium-sized companies. The bank is mainly recognised for its leasing, structuring and securitisation expertise and, hence, perfectly matches NIBC’s capabilities.
Closing of the transaction is subject to approval of the several regulators and is expected within the next two months. The bank has total assets of around EUR 650 million.
Jeroen Drost, CEO of NIBC Bank:
“We are happy with the acquisition of Gallinat-Bank, since it perfectly fits in our strategy of increasing our footprint in Germany, our second domestic market. NIBC has grown its client base and service offering since its establishment in Germany and has been looking for an opportunity to build further on its success in the growing German market. It once again emphasises our commitment to the German market.”