NETHERLANDS – Ingka Group, the largest retailer of Ikea, has successfully completed the full acquisition of Ikano Bank AB after receiving all necessary regulatory approvals.

This acquisition makes Ingka Group the sole owner of Ikano Bank, allowing it to enhance its offerings of affordable financial solutions that align with Ikea’s vision of improving everyday life for customers.

Following this transition, there will be changes in the management structure at Ikano Bank, with Niclas Olsson stepping in as acting CEO after Henrik Eklund’s departure.

“We’re thrilled to join Ingka Group and continue to expand the journey we’ve embarked on together over the past years. Strengthening our collaboration with the world’s largest home furnishing retailer opens up even more opportunities, enabling us to deliver simple, fair, and affordable services to more Ikea customers, our other partners and end customers.” comments Niclas Olsson, acting CEO of Ikano Bank

Despite the acquisition, Ikano Bank will continue to operate as a separate legal entity, maintaining its existing partnerships and focusing on both Ikea-related and non-Ikea businesses.

This move supports Ikea’s broader transformation into an omnichannel retailer, aiming to improve financial services and better meet customer needs.