Skip to content
Subscriber Only

Banking Ikea Style Dodges Too-Big-to-Fail Noose in Sweden

As Sweden’s biggest banks wait for regulators to tighten Europe’s toughest capital rules, a less fettered form of credit is gaining traction.

Swedes in search of basic banking can these days turn to names like Nordnet AB and Avanza Bank AB. There’s also Ikano, the banking arm of billionaire Ingvar Kamprad’s Ikea, or a credit line offered by supermarket chain ICA. That’s taking business from the biggest banks, whose share of local deposits dropped 1.7 points to 64.9 percent at the end of 2013 from 2012, according to data from Statistics Sweden.