JP Morgan is increasing its presence in Europe! It will launch a digital retail bank in Germany next year.

JPMorgan Chase (JPM.US) announced on Thursday that it will launch its Chase digital retail bank in Germany in the second quarter of next year. This move marks the bank's bold entry into the crowded banking market of Europe's largest economy. The Bank of America Corp. has been preparing for this project in recent years, conducting multiple rounds of recruitment, but has been tight-lipped about the specific timing. JPMorgan Chase already launched its Chase digital retail bank in the UK in 2021. Germany will be its second European market entry. Meanwhile, a Spanish foreign bank has also announced plans to launch a digital bank in Germany.