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JPMorgan Plots Germany Consumer Bank in International Foray

  • German offerings coming as soon as late next year, people say
  • Bank is looking abroad as some rival US firms pull back
Updated on

JPMorgan Chase & Co. is planning to launch a digital bank in Germany as its second international consumer outpost, a move that will create a launchpad for the biggest US bank to further expand in Europe. 

The launch is slated for late next year or early 2025, and the firm expects to target other EU countries after that, according to people familiar with the plans. JPMorgan has been hiring in Berlin as part of the effort, and intends for the German capital to be its base for EU consumer operations, the people said, asking not to be identified as the plans aren’t public.