Credit Europe allowed the bank to acquire Ikano-bank, which served the IKEA group
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Today, January 26, Russian President Vladimir Putin gave out permission for the Russian Credit Europe bank to purchase 100% of the shares of Ikano-bank associated with the Swedish IKEA. Documents for the approval of this transaction by the parties filed back in the summer of 2022. Then Kommersant’s sources indicated that the bank could be sold for 0.2–0.3 capital.
Ikano-bank is a small credit institution with a basic license and assets of 3.97 billion rubles. at the beginning of February 2022. Its volume of assets is ten times less than the assets of the acquiring bank (129.4 billion rubles).
Ikano Bank was established in 2013 primarily for the purpose of issuing consumer loans in IKEA and Mega shopping centers in the form of a joint venture. The bank is owned by the Dutch Cirus Holding BV, which was owned equally by Ikano SA (Luxembourg) and Credit Europe Bank NV (Netherlands). The Ikano Group is owned by the Camprado family, descendants of the founder of the IKEA holding. Credit Europe Bank NV is owned by the Turkish FIBA Group. IKEA decided to leave Russia completely after the start of a special military operation in Ukraine, suspending the work of all stores from March 2022.
A new special procedure for transactions, including in the banking market, with assets owned by foreign persons was introduced in August 2022. In autumn, a list of 45 foreign banks was published, transactions with which are prohibited without a special decision of the President of the Russian Federation (see www.kommersant.ru/doc/5634175). The first such permission received AvtoVAZ for the purchase of RN-Bank, which is engaged in car loans.
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