Sweden. Ikano Bank AB
| Date of agreement: | 18 Dec 2015 |
|---|---|
| Country: | Sweden |
| Customer: | Ikano Bank AB |
| Amount in EUR: | EUR 50 million |
| Maturity: | 5 years |
| NACE sector / loan type: | Loan programme |
Project
The loan programme has been provided to finance equipment leasing for small and medium-sized enterprises through Ikano Bank’s leasing operations in Sweden, Denmark, Norway and Finland.
Ikano Bank AB started operations in 1995 and offers leasing services in the Nordic countries, as well as a number of other European countries. The bank’s roots go back to the 1970s, when IKEA Konto started to provide sales finance support to IKEA stores.
Fulfilment of NIB's mandate
The loan programme is expected to alleviate credit constraints, which have been identified as a comparative disadvantage for small and medium-sized companies, and thereby facilitate productivity growth. Projects eligible for financing will fulfil NIB’s mandate criteria for SMEs. Given that SMEs are responsible for a considerable share of aggregate output and employment in NIB’s membership area, improved access to financing can increase the competitive pressure in, and efficiency of, the market.
Sustainability summary
Projects to be financed under this loan facility are not expected to have a significant impact on the environment.