Banks
U.S.-Großbank JPmorgan goes on customer catch in the German market
After the Spanish BBVA, JPmorgan attacks in the local banking market: With a Berlin seat and digital strategy, the Wallstreet giant wants to win German savers. What advantages does the bank promise?
The German banks get even more important foreign competition on their competitive home market: The US Großbank JPmorgan Chase wants to advertise customers in this country with its digital private customer bank from the second quarter of 2026. Only in June the Spanish BBVA started in Germany and had caused a sensation with an interest-loving offer.
JPMorgan had made plans for an expansion to German private customer business in July 2023. Now it becomes concrete under the manager Daniel Llano Manibardo recently changed by ING Germany: “We start with a call money account, as we find a pronounced savings culture in Germany, a growing customer demand and an innovative market.”
According to the information, DigitalBank will be purely app-based, but customers should be given the opportunity to communicate with human consultants via telephone and chat.
Germany’s second important market to Great Britain
Chase is said to have the seat in Berlin, and the bank wants to officially inaugurate the location by the end of 2025. According to JPmorgan Chase, he already has more than 900 employees in Frankfurt/Main and all over Germany, who, among other things, look after corporate customers and wealthy customers.
The bank wants to gradually expand its digital offer for private customers in Germany. After Great Britain, where Chase has so far gained 2.5 million customers, Germany is to become the second European market for chase.
dpa
Source: Stern
