Ingka Investments B.V. is to become part-owner of Ikano Bank AB (publ), which today is fully owned by Ikano S.A. Through the issue of new shares by Ikano Bank, Ingka Investments B.V. will obtain a 49% stake in the Bank, with the option to acquire the remaining shares at a later date. The transaction is subject to approvals by relevant regulatory authorities.
Ingka Group and Ikano Bank originate from the same founder, and share a heritage, strong culture and similar values. They already have a longstanding commercial partnership, where Ikano Bank has served as IKEA Retail’s financial service provider across eight countries. With this part-ownership in the Bank, Ingka and Ikano Bank will be able to maximise the potential of the existing relationship and provide financial services to customers, through a seamless end-to-end digitised experience, offered online or in-store.
Henrik Eklund, CEO, Ikano Bank, said: “We’re excited to welcome Ingka Group as a part owner of Ikano Bank. Together we will continue to develop accessible digital financial services for IKEA customers, our other valued partners and end customers.”
Krister Mattsson, Managing Director, Ingka Investments commented: “This agreement brings us a step closer to fulfilling Ingka Group’s ambition to offer competitive and accessible financial services, enabling even more people to have better homes and thereby, better lives.”