JPMorgan and BBVA Enter Germany’s Digital Banking Race

JPMorgan Chase is gearing up to launch its digital retail bank, Chase, in Germany by Q2 2026, with Berlin as its headquarters. This MOVE follows the bank's successful UK entry in 2021 and underscores Germany's strategic importance—already JPMorgan's third-largest revenue generator after the US and Britain.

Spain's BBVA has a head start, having launched its digital bank in June 2025, with ambitions to capture one million German customers by 2026. The market is fiercely competitive, dominated by incumbents and fintechs like N26 and Revolut, but global banks see untapped potential.

JPMorgan's $17 billion annual technology budget, including heavy AI investments, could prove decisive in this crowded landscape. The bank has already begun local hiring, signaling long-term commitment to the European retail banking expansion.