IKEA wants to create its own bank in Russia

The IKEA group of companies is thinking about creating its bank in Russia, which, according to experts, will make it possible to consolidate financial flows from different types of business and save on the services of intermediary banks.

The plans of the Swedes are reported by the Kommersant newspaper with reference to a number of sources in the financial market. “The IKEA group is going to create a Bank from scratch and prepares documents for registration in the Central Bank,” one of them said. According to the publication, earlier the company wanted to have a bank in its group and thought about acquiring a small foreign asset to obtain a license.

A source close to IKEA specified that they want to receive a banking license for a joint legal entity established by IKEA and related to it Ikano Finance, specializing in finance, insurance and real estate.