Furniture retailer Ikea buys 49% stake in Ikano Bank


Furniture retailer Ikea buys 49% stake in Ikano Bank: Owner of the furniture retail store - Ikea, Ingka Group has bought 49% stake in Ikano Bank. The investment has been termed as a "decisive step into financial services" that will "help make Ikea more affordable, accessible and sustainable".

 

Both Ikea and Ikano Bank have originated from the same founding family and a longstanding commercial partnership, where Ikano Bank has served as Ikea’s financial service provider across eight countries.

 

Krister Mattsson, managing director, Ingka Investments comments, “The significant investment in Ikano Bank is an exciting step for Ingka Investments into the banking sector. As customers and retailers increasingly seek banking solutions with a strong digital foundation, our commitment to work even closer with Ikano Bank during its digital transformation is a great opportunity to serve new and existing customers alike.”...Read More

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