Ingka Group, the powerhouse behind IKEA’s global retail network, has officially completed its full acquisition of Ikano Bank AB (publ). The landmark deal follows critical approvals from major regulatory authorities, including the Swedish Financial Supervisory Authority (Finansinspektionen) and the European Commission. This strategic move solidifies Ingka Group’s control over Ikano Bank, setting the stage for […]
Indian IT company Tata Consultancy Services (TCS) revealed that Ikano Bank in Sweden has chosen the TCS BaNCS Global Banking SaaS Platform for its extensive core banking transformation across Europe. The move comes as Ikano Bank seeks to streamline its operations, enhance risk management, and deliver a consistent customer experience. Ikano Bank operates across multiple […]
Ingka Group, the owner of IKEA stores, is foraying into consumer banking, by acquiring a stake of 49% in Sweden-based Ikano Bank from Ikano for an undisclosed price. As per the terms, Ingka Group will have the option to buy the remaining stake at a later date. Ingka Group is carrying out the deal through […]
