JPMorgan Chase is expected to enter Germany’s retail banking sector in the second quarter of 2026 to become one of the country’s top five consumer lenders, the Financial Times (FT) reported, citing Chase Germany head Daniel Llano Manibardo.
The move follows JPMorgan’s earlier expansion of its digital retail banking services in the UK in 2021 and represents the next phase of its European growth strategy.
Llano Manibardo, in an interview, told the FT: “Our ambitions are high, although he recognized that it would not be easy to make money in Europe’s largest and richest market. In the long term, we want to be among the top five players in every market we enter.”
According to the FT report, the German retail banking market is very competitive, with large institutions such as Deutsche Bank, Commerzbank and ING.
The market also includes several public savings and cooperative banks.
Despite the established players, JPMorgan intends to compete for significant market share through its digital-only Chase offering, the publication said.
Llano Manibardo said: “Germany has no shortage of banks, and the key to success would be to gain real scale.
“We’ve done a lot of pre-analysis to understand the market. Now we’re really stepping on the pedal, building the bank,” he added.
The proposed digital bank will begin retail operations in Germany, with the savings account as the initial product offering.
Currently, Chase employs around 120 people in Germany and its new headquarters in Berlin, which is expected to open next month, can accommodate up to 400 employees.
As a large-scale foreign bank in Germany, JPMorgan offers commercial banking, investment banking, asset management and wealth management services.
The company has traditionally avoided launching international retail banking projects due to the expense of building physical branch networks.
However, Chase has attracted more than two million customers in the UK since its launch, using its digital platform and offering integrated services, the report said.
Last month, Llano Manibardo, via a post on LinkedIn, announced the company’s plans to launch its digital retail bank in Germany.
“JPMorgan Chase to Enter German Retail Banking Market in 2026 – Report” was originally created and published by Retail Banker International, a brand owned by GlobalData.
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