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JPMorgan preps German digital retail bank

JPMorgan preps German digital retail bank

JPMorgan Chase is planning to build on the success of its UK digital bank by introducing a similar outpost in Germany, according to Bloomberg.

The US giant has been hiring in Berlin ahead of the launch of the retail digital lender, which could come late next year, says Bloomberg, citing sources.

Eventually, Berlin is set to be the base for JPMorgan to push into more EU markets.

The bank launched its UK outpost in 2021, attracting half a million customers and $10 billion of deposits in its first eight months of operation.

The UK business is now set to expand beyond its current account offering by adding credit cards and personal loans.

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