On 01/11/ 2017 IKANO BANK hosted reception for management and business partners of the IKEA corporation dedicated to the issuance to the Bank of a retail license of the Bank of Russia. Among the guests were Alexander Linnikov, Sergei Sadovoy and Sergey Kloss.
IKANO BANK is a joint venture of IKANO GROUP (Luxemburg) and Credit Europa Bank N.V. (Netherlands). IKANO BANK was established for the development of retail projects, primarily – consumer lending in the IKEA stores and Mega shopping malls in the territory of Russian Federation, and providing of financial services to named companies and their partners.

Thanks to the support of the L&P banking practice team IKANO BANK has managed to obtain the license of the Bank or Russia to attract deposits from individuals in Rubles and foreign currency. It’s important to note that in recent years instances of issuance of new licenses by the Bank of Russia have become singular, if not exceptional, events. Obtaining of an additional license by a Russian credit institution requires long and complicated preparation based on in-depth knowledge of banking regulations and understanding of the practice of the Bank of Russia. In course of the licensing project IKANO BANK was assisted by the legal team of Linnikov & Partners that possesses unique expertise and experience in the sphere of corporate law and legal discipline of financial institutions.
