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 and the number of customers as of 30 September amounts to approximately 23,000.
“Today, we welcome 23,000 new customers to the bank. We will work together with Nordnet to ensure a continued high level of service for all customers concerned. Our goal is to continue to grow, and we look forward to offering our services to even more customers in the Swedish market”, says Louise von Scheven, Chief Commercial Officer B2C at Ikano Bank.
Ikano Bank is well on its way of becoming a fully digital bank, with an even greater ability to offer financial services on fair terms that meet the needs of the many people and businesses. The transformation of the bank is centred around digital development and the phasing-out of legacy systems, making it possible to cost-effectively reuse knowledge and launch products in new markets with the customer’s needs in focus.
Vinge acted as legal advisor of Ikano Bank. Nordea Bank Abp, Swedish branch acted as financial advisor and Cederquist as legal advisor to Nordnet.
For more information
Louise von Scheven, Chief Commercial Officer B2C, Ikano Bank
Katarina Erichs Emilson, Head of Communications, Ikano Bank
Email communication@ikano.se
About Ikano Bank AB (publ)
Ikano Bank creates possibilities for better living by offering simple, fair, and affordable services, enabling a healthy economy for the many people and businesses. Its offer includes savings and loan products for consumers, sales support services for retailers, and leasing and factoring solutions for businesses. Ikano Bank operates in Sweden, Denmark, Finland, Norway, the UK, Poland, Germany, and Austria and is a part of the Ikano Group who owns 51 % of the Bank. Ingka Group, the largest IKEA retailer under franchise agreements with Inter IKEA Systems B.V., owns the remaining 49 % of the Bank. Ikano Bank’s head office is located in Malmö, Sweden and the company is registered in Älmhult, Sweden where the business was once founded.
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