Ikano Bank Company Profile and Performance

Ikano Bank is a Swedish bank that offers a range of financial services to individuals and businesses. It was founded in 2005 and is headquartered in Stockholm, Sweden.

Ikano Bank is a subsidiary of Ikano Group, a Swedish financial services company that was established in 1988. Ikano Group's roots date back to 1960 when it started as a small business.

Ikano Bank's main focus is on providing consumer and commercial banking services, including loans, credit cards, and savings accounts.

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Ikano Bank was founded by Ingvar Kamprad, the same person who started IKEA, in 1995 with a single branch office in Älmhult, Sweden.

Ikano Bank offers a range of financial solutions, including private label cards, credit cards, loans, and savings accounts, as well as leasing and factoring solutions for companies.

Ikano Bank is part of the Ikano Group's business area Finance, and its presence in several countries in Northern Europe enables it to offer both local and cross-border solutions.

Ikano Bank is a part of Ikano Group's business area Finance. Ikano Bank offers simple and smart banking and financial solutions. They deliver sales finance and customer insight services to retail partners. Their presence in several countries in Northern Europe enables them to offer both local and cross-border solutions.

Ikano Bank provides a range of products including private label cards, credit cards, loans, and savings accounts. They market products and services under their own Ikano brands. Ikano Group is an international group that develops, owns, and manages companies in the areas of finance, real estate, insurance, and retail.

Ikano Bank is owned by the Kamprad family and was established in 1988. They have a strong focus on fair terms and simplicity, which guides their business practices.

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Ikano Bank has a rich history that spans several decades. In 1995, Ingvar Kamprad, the founder of IKEA, started Ikanobanken with one branch office in Älmhult, Sweden.

The bank's early years were marked by steady growth, and 15 years later, Ikanobanken became Ikano Bank after merging with other entities within the IKANO Group.

Ikano Bank offers a range of financial products and services, including personal loans and credit cards.

Their personal loans have competitive interest rates, with rates starting from 6.9% APR.

Ikano Bank also provides a credit card with a low annual fee of €25 and a cashback reward of up to 10% on purchases.

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Ikano Bank's estimated annual revenue is a significant figure, currently standing at $355.2M per year.

This is a substantial amount of money, and it's interesting to note that the bank's revenue per employee is estimated to be $294,000.

Ikano Bank's revenue is substantial, but it's also worth noting that the exact revenue figures are not publicly disclosed for all years.

In the world of financial information, it's essential to understand the basics of accounting and bookkeeping, specifically the concept of assets, liabilities, and equity.

Assets are anything of value that a company owns or controls, such as cash, inventory, and equipment.

Cash is a liquid asset that can be easily converted into other assets.

Liabilities are debts or obligations that a company owes to others, like loans or accounts payable.

Equity, also known as net worth, represents the company's ownership stake, calculated by subtracting liabilities from assets.

A company's balance sheet provides a snapshot of its financial position at a particular point in time, showcasing its assets, liabilities, and equity.

Ikano Bank has 2 investors, with INGKA Group being one of them. They invested in the bank's Acquired funding round, which took place on October 17, 2024.

INGKA Group is a holding company based in the Netherlands.

Here's a breakdown of Ikano Bank's funding: the bank has raised $528M over 2 rounds, with the most recent round being Acquired on October 17, 2024.

Ikano Bank has raised a significant amount of funding over the years, with a total of $528M raised across 2 rounds.

The bank's valuation is substantial, with one of the rounds valuing it at $XXM.

One notable acquisition was made by INGKA Group, which acquired Ikano Bank in 2024.

Ikano Bank's revenue is estimated to be around $355.2M per year, which translates to a revenue per employee of $294,000.

Here's a breakdown of Ikano Bank's funding rounds:

Ikano Bank has a total of 2 investors, which is relatively few compared to larger financial institutions.

INGKA Group is one of the investors, and it invested in Ikano Bank's Acquired funding round on October 17, 2024.

INGKA Group is a holding company based in the Netherlands, and its investment in Ikano Bank is a significant one.

INGKA Investments is the other investor, but unfortunately, the exact details of its investment are not publicly available.

Here are the details of Ikano Bank's investors:

Ikano Bank is a digitally-native bank that has been agile and sophisticated in technology procurement, working collaboratively with a dedicated team to achieve its goals.

Ikano Bank's CEO, Henrik Eklund, has highlighted the bank's efforts to build a more efficient bank, with significant IT investments and a strong commitment from its co-workers.

The bank's customer experience is improving, laying the foundation for strong growth, despite being in an uncertain and economically challenging environment.

Operating result before loan losses decreased to SEK 131 million in the first half-year of 2024, mainly due to lower Net Interest Income and increased expenses.

Net Interest Income, excluding leasing, decreased to SEK 1,024 million in the same period, due to lower volumes.

Ikano Bank operates in eight countries, including Sweden, Denmark, Finland, Norway, the UK, Poland, Germany, and Austria, offering a range of services to consumers and businesses.

The bank's head office is located in Malmö, Sweden, and it is registered in Älmhult, Sweden, where the business was once founded.

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Ikano Bank has been actively expanding its reach through strategic acquisitions. In October 2021, they acquired Basisbank - Consumer Finance Unit.

The acquisition was valued at $XXM. This move likely positions Ikano Bank for further growth in the consumer finance sector.

Ikano Bank's business model is distinct from that of its competitors, such as Froda, which focuses on providing financial services to small and medium-sized enterprises.

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Ikano Bank has made a significant acquisition in the market. They acquired Basisbank - Consumer Finance Unit on October 27, 2021.

The acquisition was a notable one, with a valuation of $XXM.

This acquisition is a prime example of Ikano Bank's strategic expansion into new markets.

Froda offers business loans with transparent pricing and terms, making it a viable option for small and medium-sized enterprises.

Ikano Bank, on the other hand, provides financial services with a digital application process tailored to entrepreneurs.

Froda's solutions are designed for the requirements of entrepreneurs, which sets it apart from other financial institutions.

Ikano Bank was founded in 2015 and is based in Stockholm, Sweden, giving it a strong presence in the region.

Froda was founded in 2015, making it a contemporary of Ikano Bank, and has established a reputation for providing tailored financial services to entrepreneurs.

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Ikano Bank has a significant workforce with 1208 employees. This number is a testament to the bank's growth and expansion.

The bank has experienced a modest increase in its employee count, with a 1% growth last year. This steady growth suggests a stable and secure work environment.

Ikano Bank's employee base is substantial, with 1208 employees on the payroll.