Finance
BBVA Plans to Start Digital Bank in Germany to Rival JPMorgan
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Banco Bilbao Vizcaya Argentaria SA is planning to open a digital consumer bank in Germany, using existing technology to expand at relatively low cost.
The project is led by Javier Lipuzcoa, the head of BBVA’s digital bank in Italy, according to people familiar with the matter. The lender is currently preparing a feasibility study and is putting together a team that would be in charge of the new unit, the people said, asking not to be identified discussing private information.