AsianFin -- JPMorgan Chase said on Thursday it will roll out its Chase digital retail bank in Germany in the second quarter of 2026, marking a major expansion into Europe’s largest but highly competitive banking market.

The U.S. banking giant has been laying the groundwork for the launch over the past few years through extensive hiring, though it had not previously disclosed a timeline. Germany will be Chase’s second European market following its 2021 debut in Britain.

Spain’s Banco Bilbao Vizcaya Argentaria has also unveiled plans to introduce a digital bank in Germany.

Analysts say new entrants face tough conditions in a fragmented banking landscape dominated by entrenched domestic players and characterized by razor-thin margins. Deutsche Bank, Germany’s biggest lender, is meanwhile cutting staff and branches in a bid to lift profitability in its retail business.