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JP Morgan reportedly planning German digital bank offering

February 2, 2023

The German launch is set for late 2024 or early 2025, Bloomberg reports, with plans to expand into other EU countries after.

The US banking giant is said to have been on something of a hiring spree in Berlin, with the German capital earmarked as a base for future EU consumer operations.

Digital retail bank Chase launched in the UK in 2021 with current accounts only but with plans for the portfolio to broaden over time. The bank has already racked up more than one million customers and more than $10 billion in deposits.

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