JPMorgan's digital retail bank in Germany open for business

FRANKFURT, May 20 (Reuters) - ​JPMorgan ⁠said that it ​was officially opening its Chase ​digital ‌retail bank in Germany on ⁠Wednesday, with customers now ⁠able to ​download an app and its website going live. The U.S. banking ​giant ‌has been preparing the launch for several years with a spate of ​hiring but had kept ‌the exact timing of the launch under wraps.

Germany ‌will be Chase's second European market, after its launch in ​Britain in 2021.

The business marks ‌a move into the crowded banking market of Europe's largest ⁠economy.

The ⁠bank will initially ‌offer a free savings account but will ​branch ​out with ‌further account and product offerings next year. (Reporting by Tom Sims Editing by Ludwig Burger)

JPMorgan Chase