JPMorgan Chase may launch Chase digital bank in Germany by the end of the year

JPMorgan plans to launch a digital bank under the Chase brand in Germany at the end of this year or early next year. JPMorgan CEO Jamie Dimon's plan is to cover major European economies and attract enough customers to create a new profit engine. JPMorgan previously launched Chase in the UK in 2021. Insiders said that building a digital bank from scratch takes longer and is more complex than JPMorgan expected. It is reported that Chase had hoped to launch in Germany in 2022, but due to a series of delays, the launch date has been postponed.