IKEA to acquire 49% stake in consumer bank Ikano

Feb 11, 2021 AlShorts Web Desk

IKEA on Thursday announced to acquire 49% stake in financial services partner Ikano Bank to boost consumer banking services. “This is a decisive step into financial services, a core part of Ingka Group’s journey to help make IKEA more affordable, accessible and sustainable”, IKEA's parent company Ingka Group said. Ikano Bank is a consumer finance bank established in 1995 by Ingvar Kamprad.