JPMorgan has announced plans to launch its digital retail bank, Chase, in Germany by the second quarter of 2026, marking its European expansion.
The move follows Chase’s entry into the UK market in 2021.
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The launch was confirmed by Daniel Llano Manibardo, head of Germany international consumer banking at JPMorgan, in a post on LinkedIn.
Manibardo said: “One step closer. Exciting times ahead for Chase as we prepare to launch in Germany in the second quarter of 2026!
“We are bringing together the best of both worlds in retail banking: a digital native bank, tailor-made for the German market, backed by the global reach and trust of one of the world’s largest financial institutions JPMorgan Chase”.
Separately, Manibardo told the Financial Times (FT) that the initial offering in Germany will be a savings account, due to the “popularity” of such products among German customers.
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By GlobalDataHe mentioned that the bank’s services would be expanded incrementally.
The German retail banking landscape is notably competitive, with major entities like Deutsche Bank and Commerzbank vying alongside numerous smaller savings and co-operative banks, as well as digital-focused fintech companies such as N26 and Trade Republic, the FT report noted.
Digital challengers, including Spain’s BBVA, are also entering the market.
Chase’s UK debut in 2021 marked JPMorgan’s first retail banking venture outside the US. Since then, Chase has attracted over two million customers in the UK, aided by competitive savings rates and is expected to be profitable this year.
Growth in the UK, however, is limited by ringfencing rules requiring banks with over £35bn ($47.09bn) in deposits to separate retail operations from riskier business segments.
According to the FT report, the British government is considering revising these regulations.
“I am confident that our new banking service will empower German customers to optimise their financial well-being. With roots dating back over 100 years in Germany, we will offer a strong trusted brand, a top-class digital experience, competitive conditions, and personal customer support when needed,” Manibardo’s post read.
“We are eagerly anticipating our launch in Germany in 2026 and are committed to making a lasting impact on the financial landscape.”
