About Ikano Bank

Our story

The Ikano story

Born in Almhult, Sweden, Ikano Bank set up our UK office back in 1994 with a clear ambition to share our bank’s promise of delivering finance on fair terms.

Owned by the family that founded IKEA, we share the same values. We believe by delivering banking on fair terms we have created and will continue to create better possibilities for living and working here in the UK.

We've been providing finance products in the UK for over 25 years and work with some of the biggest names on the high street. One thing our heritage has taught us is that having a strong and simple idea, with a little bit of hard work and good values is important for success. This is why all our financial products are simple, easy to understand and can help create possibilities for everyone.

Ikano I love you
Started by the founder of IKEA

Our history

Ikano was originally a part of the home furnishing company IKEA, which was founded by Ingvar Kamprad in 1943.

During the 1970s the Ikano activities involved managing real estate, financial services and insurances for IKEA.

In 1988, Ikano became an independent group of companies, owned by the Kamprad family.

Ikano Bank today

Ikano Bank creates possibilities for better living by offering simple, fair and affordable services, enabling a healthy economy for the many people.

Our offer includes savings and loan products for consumers, sales support services for retailers, and leasing and factoring solutions for businesses. We conduct business in Sweden, Denmark, Finland, Norway, the UK, Poland, Germany and Austria.

Ikano Bank is a part of the Ikano Group, an international group of companies active within banking, real estate, production, insurance, data analytics and retail, who owns 51% of the Bank. Ingka Group, a strategic partner in the IKEA franchise system, operating 378 IKEA stores in 31 countries, owns the remaining 49% of Ikano Bank.

Ikano Bank’s head office is located in Malmö, Sweden and the company is registered in Almhult, Sweden where the business was once founded.

On fair terms

Our promise: On fair terms

At Ikano we ask ourselves: "Is this on fair terms?" We constantly review our solutions and our way of working with customers, partners and co-workers. The reason for this is that we are in business for the long run and we seek long-lasting relationships.

Being on fair terms is essential for building strong relationships, creating value and growing a business. We live the promise - on fair terms - because we know that the quality and reputation of a company is determined by the promise made and the promise kept.

We act for a sustainable future, taking responsibility for the economic, social and environmental aspects related to our businesses.

Our values

Three basic values guide all Ikano businesses: common sense and simplicity, working together and daring to be different. These values support our promise: on fair terms.

We believe that no method is more effective than setting a good example. Living our values is how we make a difference.

Ikano Bank our values

Finance & Leasing Association

We are members of the Finance & Leasing Association (FLA) and subscribe to the FLA Lending code. A copy of the code can be found here at the FLA website: www.fla.org.uk/codes

The FLA code is relevant if you have a store card or loan with Ikano Bank, but not if you have a savings account with us.

How we protect our values and our promise

At Ikano Bank, we strive to live by our values and follow our code of conduct. But even with the best of intentions, things don't always turn out the way we intended.

We encourage anyone who has or has had a relationship with us, who may have experienced or observed misconduct in a work-related context, to come forward without fear of reprisal.

There are various internal communication channels available to openly address issues. However, we realise that in some situations this may not be possible.

That is why we have implemented the EthicsPoint Alertline. This is a confidential, secure, externally managed service that allows you to report anonymously if you wish.

I want to report