FRANKFURT: JPMorganChase said on Thursday that it would launch its Chase digital retail bank in Germany in the second quarter of next year.

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

The U.S. banking giant has long been preparing the launch in recent years, with a spate of hiring, but had kept the timing under wraps.

JPMorgan already launched Chase in Britain in 2021. Germany marks its second European market.

Spain's Banco Bilbao Vizcaya Argentaria SA has also announced plans to launch a digital bank in Germany.

 

(Reporting by Tom Sims, editing by Thomas Seythal and Ludwig Burger)