It offers loans, savings accounts and partner business supplying sales finance to large retailers, including IKEA, Volkswagen, Audi, Lindex, Hemtex, Skoda, Shell and Preem.

The firm also conducts business in Germany, Poland, Austria, Finland, and Russia via separate companies.

Some of the key fees include:[2][3] In 1995, Ingvar Kamprad (the founder of IKEA) started Ikanobanken, with one branch office in Älmhult, Sweden.

[citation needed] Until 2024, it was owned by its founder's family through IKANO, a group of businesses which also includes insurance, retail, and real estate in many countries.

[citation needed] Minority partner, Ingka Investments completed the acquisition of full control of Ikano Bank in 2024.