Is it time for a new European Bank to take place?
If you believe Ingvar Kamprad- Sure!
The expectations – to develop a strong European financial player.
Ingvar Kamprad is and has never been a financier who’s been idle. Now, he mergers his banks, which today, has its headquarters in Germany, Austria and Poland, Ikano Bank GmbH, together with his Swedish Ikano Bank AB.
His vision is being able to compete with the other major banks, and with this merger be able to develop a financial operator that remains strong in Europe. The idea is to get a more extended and accessible presence with operations spread over a total of eight countries. The merger will implicate a total workforce of over 850 employees and the collective business volume will reach about 54 billion Swedish krona.
The merger has been recently executed on August 3, and is the Ikano Group’s strategy to strengthen the banking business. Gathering resources, competencies and development to achieve the desired results is now the prime goal.
Along with Germany, Austria and Poland, Ikano Bank will have banking operations in eight countries. Sweden, Denmark, Finland, Norway and Great Britain are the other five that together makes the total of eight countries.
Earlier this spring, Ikano Bank and Kamprad, left the Netherlands and the Dutch market and closed down its offices in Amsterdam.
