NIBC buys German Gallinat-Bank
Yesterday, NIBC closed the transaction with ALBIS Leasing AG for the acquisition of German bank Gallinat-Bank AG. The agreement was announced on 12 March 2014. NIBC is now the owner of Gallinat-Bank, which offers financing and leasing products to German medium-sized companies. The bank has total assets of around EUR 650 million.
Paulus de Wilt, CEO of NIBC Bank:
"The acquisition of Gallinat-Bank very well matches NIBC's capabilities and perfectly fits in our strategy of increasing our footprint in Germany, our second domestic market. NIBC has grown its client base and its services since its establishment in Germany. NIBC has been looking for an opportunity to further build on its successes in the growing German market. It once again emphasises our commitment to this market."