Ikano Bank AB (publ) Interim Report 2025

Work towards an efficient and profitable bank continues   “With Ingka taking over as the new sole owner in the autumn of 2024, a new chapter began in our change journey. The Bank’s strategic direction remains essentially the same as before, while being part of Ingka Group provides greater opportunities for closer collaboration and further growth with IKEA Retail. This supports our IKEA business where we strive to offer affordable and accessible financial solutions for IKEA customers in our markets.”   Niclas Olsson, CEO, Ikano Bank AB (publ)   Results for the first half-

Changes in the Ikano Bank Board of Directors

The Annual General Meeting of Ikano Bank was held on 30 June 2025. At the meeting, Kåre Kjelstrøm was elected as a new member of the Board.Kåre Kjelstrøm brings extensive experience in software and leadership within fintech, web3, digital innovation, and IT transformation, with a particular focus on distributed systems, global infrastructure, and modern banking platforms from companies such as Uber and Lunar. He will serve as Chair of the Bank’s newly established Technology and Product Committee. Kåre is Danish and holds a master’s degree in computer science from Aarhus University.

Niclas Olsson appointed CEO of Ikano Bank

Ikano Bank AB (publ) is pleased to announce the appointment of Niclas Olsson as Chief Executive Officer, effective immediately. Niclas has served as acting CEO since October 2024 and now formally steps into the role.   Niclas joined Ikano Bank in 2021 as Chief Financial Officer, bringing extensive experience in financial leadership and strategic management. Prior to Ikano Bank, he was CFO at PayEx, and held senior roles at Swedbank.   “We are excited to confirm Niclas as the CEO of Ikano Bank,” says Lone Fønss Schrøder, Chairperson of the Board. “Over the past six months, he has

Ikano Bank's annual report published at www.ikanobank.se

The Ikano Bank AB (publ) annual report including sustainability statement for 2024 (in Swedish and English) is now available to download here:  https://ikanobank.se/om-banken/ekonomisk-informationIn his statement for the year acting CEO Niclas Olsson comments:“We are on a journey of major transformation, to build a more relevant and efficient digital bank with an improved customer experience. This autumn, when Ingka Group completed the acquisition of the Bank, we passed an important milestone on that journey. Now, as a wholly owned subsidiary of Ingka, we look forward to further

Ikano Bank reorganises to create conditions for future growth – reduces the number of employees

As part of the work to create a more efficient organisation and secure long-term growth, Ikano Bank has initiated negotiations with trade unions regarding a reorganisation and a reduction of approximately 200 employees in the Bank. Out of these 200, approximately 120 employees in Sweden are affected.   "We understand that this creates a great deal of concern and uncertainty for many co-workers. We will support all impacted co-workers in the best possible way during this change – always guided by our culture and values. Our ambition is to implement the proposed changes before mid-year

Ikano Bank AB (publ) Year-End Report 2024

“The digitalisation of the Bank continues at full speed and in 2024 we have focused on the development of our new loan and savings platform for the Swedish market, while the launch of products within our retail offering continues. In addition, we continue the development of our new B2B platform, where the solution for our factoring product had a first delivery in December. For 2024, we show a result of -152 MSEK. This is an improvement compared to the previous year, although this is largely a result of non-recurrent income regarding the recovery of VAT paid in previous years. Adjusted

Ikano Bank announces pricing and results in respect of tender offer for outstanding SEK notes

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL   Ikano Bank AB (publ) announced a tender offer on 4 February 2025 targeting all outstanding SEK Senior Unsecured floating rate notes issued under Ikano Bank’s Medium Term Note Programme (the “Notes”) to tender any and all of the Notes for purchase by Ikano Bank for cash (the “Tender Offer”).   Results and pricing The Tender Offer expired at 12:00 pm CET on 7 February 2025. Ikano Bank will accept all valid tender instructions

Ikano Bank announces tender offer for outstanding notes

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL    Ikano Bank AB (publ) is offering holders of Ikano Bank’s outstanding notes, as outlined below, maturing on 20 November 2025 and 19 January 2027 respectively (the “Notes”), to tender their Notes for purchase by Ikano Bank for cash (the “Tender Offer”) at the purchase spreads set out below, plus accrued and unpaid interest. The Notes will be repurchased subject to the terms and conditions described in a tender information document

Ingka Group completes acquisition of Ikano Bank to strengthen its financial services offer for IKEA customers

Ingka Group today announced the completion of the full acquisition of Ikano Bank AB (publ), following the required approvals from regulatory authorities. With this acquisition, Ingka Group becomes the sole owner of Ikano Bank, further strengthening its ability to offer affordable and accessible financial services to IKEA customers. As part of this transition, changes to the board of directors and management at Ikano Bank will come into effect.  Following clearances from the Swedish Financial Supervisory Authority (Finansinspektionen), the European Commission, and other relevant

Ikano Bank completes acquisition of Swedish consumer finance portfolio worth SEK 3.4 billion

Ikano Bank AB (publ) has, following approvals from relevant authorities, completed the acquisition of Nordnet Bank AB’s consumer loan portfolio, which was announced on 19 April 2024. The purchase price amounts to approximately SEK 3.5 billion.    The acquisition is in line with Ikano Bank's growth strategy and represents a significant increase of its consumer lending business in Sweden. The purchase price amounts to approximately SEK 3.5 billion, which corresponds to 101.6 percent of the transferred volume. As of 30 September, the lent volume amounts to approximately SEK 3.4 billion

Ikano Bank AB (publ) Interim Report 30 June 2024

“Our extensive work to build a more efficient bank continues. Through the amazing commitment from our co-workers and significant IT investments, the customer experience is improving, which lays the foundation for strong growth. At the same time, it is an intense effort in an uncertain and economically challenging environment. Ingka's decision to purchase the remaining shares of the Bank further strengthens our growth prospects going forward and is a testament that we are on the right path with what we have done so far.” Henrik Eklund, CEO, Ikano Bank AB (publ)  Results for the first

Ikano Bank to buy Swedish consumer finance portfolio worth SEK 3.8 billion

Ikano Bank AB (publ) today entered into an agreement to acquire Nordnet Bank AB’s consumer finance portfolio. The portfolio volume as of the end of March 2024 amounted to approx. SEK 3.8 billion and the number of customers to approximately 26,000. The acquisition is expected to be closed during the second half of 2024 following regulatory approvals.The acquisition is expected to grow Ikano Bank’s consumer loan business in Sweden considerably and is well in line with the Bank's growth strategy and ongoing change journey. ”We are well on our way of becoming a fully digital bank, with even

Strengthening the IKEA financial services offer - Ingka Investments to acquire full ownership of Ikano Bank

Ingka Investments B.V. has reached an agreement to acquire the remaining 51% shares in Ikano Bank AB (publ) from Ikano S.A., to become the full owner of Ikano Bank AB (publ). Ingka Investments became a 49% shareholder in Ikano Bank AB (publ) in June 2021, with an option to acquire the remaining shares at a later date. This transaction remains subject to approval by relevant regulatory authorities.   Enabling financial services through a seamless omni experience is a core part of Ingka Group’s journey to make IKEA even more affordable, accessible and sustainable for its customers.

Ikano Bank's annual and sustainability reports published at www.ikanobank.se

The Ikano Bank AB (publ) annual report (in Swedish and English) and sustainability report (in English) for 2023 are now available to download here:https://ikanobank.se/om-banken/ekonomisk-information   In his statement for the year CEO Henrik Eklund comments: “We are a customer-oriented bank, offering simple and affordable financial solutions on fair terms. In 2023, we have continued to deliver on our multiannual plan. The aim is to strengthen our commercial relevance, increase volumes and streamline operations - to create profitable growth. We are well on our way to becoming

Ikano Bank AB (publ) Year-End Report 2023

“In 2023, we have continued to deliver on our multiannual plan for profitable growth and we are well on our way to becoming a fully digital bank, with better opportunities to offer simple financial services that suit the needs of the many people and businesses.”   Henrik Eklund, CEO, Ikano Bank AB (publ)   Second half year 2023 · Operating result before loan losses increased to SEK 234 m (151) mainly because of higher operating income. · Net Interest Income excluding leasing increased to SEK 1,085 m (1,018) as a result of improved margins. · Net commission income

Ikano Bank AB (publ) Interim Report 30 June 2023

“Together we are making a comprehensive change, creating a more commercially relevant bank with profitable growth, where we provide our customers with accessible financial services. It involves a technical, organisational and cultural change at Ikano Bank, and our transformation continues in full force. At the same time, we are experiencing troubled and challenging times, with rising inflation, higher interest rates and the war in Ukraine, which further reinforces the need for simple financial services for the many people. The investments that have weighed on our results in recent years are

Ikano Bank's annual and sustainability reports published at www.ikanobank.se

The Ikano Bank AB (publ) Annual report (in Swedish and English) and Sustainability report (in English) for 2022 are now available to download here: https://ikanobank.se/om-banken/ekonomisk-information   In his statement for the year CEO Henrik Eklund comments:   “We are making extensive changes in the Bank to increase customer satisfaction, growth and profitability. Work that has been further accelerated since Ingka became part-owner of the Bank in the summer of 2021. Transforming the bank involves major challenges, both commercially, technically, and organisationally. Our long-

Ikano Bank AB (publ) Year-end report 2022

A new bank is emerging”We are well on our way to deliver on our long-term goal of strengthening the Bank's commercial relevance. Our extensive transformation is carried out to increase customer satisfaction, growth and profitability. A transformation that has accelerated further since Ingka stepped in as a co-owner during the summer of 2021. Step by step digitisation is increasing and I am happy to state that we are delivering according to plan while at the same time keeping our customers in focus.” Henrik Eklund, CEO, Ikano Bank AB (publ)    Lending

Ikano Bank announces results of tender offer for outstanding bonds

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND

Ikano Bank announces tender offer regarding outstanding bonds

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND

Ikano Bank AB (publ) Interim Report 30 June 2022

“The need for a simple, transparent bank with fair terms, contributing to a healthy economy for the many people and businesses is more relevant than ever. Our comprehensive transformation, under which we are making major investments in the best technology, delivers on exactly this and has been accelerated further with Ingka’s investment in the Bank last year and we are seeing early positive results from delivered products. At the same time, we are heading towards tougher financial times with, among other things, rising inflation, increased energy costs and higher interest rates, which

New board member in Ikano Bank

Lone Fønss Schrøder elected new member¹ of the Ikano Bank AB (publ) board as Krister Mattsson is leaving to take on other board memberships.   At an extraordinary general meeting on Tuesday 31 May 2022, the shareholders of Ikano Bank AB (publ), Ikano S.A. and Ingka Investments B.V., elected Lone Fønss Schrøder as new member of the board. Lone will replace Krister Mattsson as Ingka representative on the board.    Krister Mattsson has taken on other board assignments including Stichting Ingka Foundation, the owner of Ingka Group which limits him to continue as board member of

Ikano Bank's annual and sustainability reports published at www.ikanobank.se

The Ikano Bank AB (publ) Annual report (in Swedish and English) and Sustainability report (in English) for 2021 are now available to download here: https://ikanobank.se/om-banken/ekonomisk-information   In his statement for the year CEO Henrik Eklund comments:   “We are on our way to become a fully digitalised sustainable bank. In 2021 we successfully launched the first two products based on new technology. The completed part-ownership by Ingka Group creates huge possibilities, and we have accelerated the transformation further. The goal is to have a new bank in place within a

Ikano Bank board of directors elected

Ikano Bank AB (publ) board of directors elected at the Annual General Meeting held 5 April 2022.   At the Annual General Meeting (AGM) of the bank, the shareholders Ikano S.A. and Ingka Investments B.V., re-elected Diederick van Thiel, Heather Jackson, Lars Thorsén, Mats Håkansson, Yohann Adolphe, Viveka Strangert, Krister Mattsson, Mikael Palmquist and Lars Ljungälv as board members. At the AGM, Nigel Hinshelwood was also elected new member of the board[1]. At the inaugural board meeting Mats Håkansson was re-elected as chairperson of the board and Nigel Hinshelwood was appointed