JPMorgan interested in German market for possible retail market expansion

2022.09.08 08:41

FILE PHOTO: The J P Morgan building in Canary Wharf is seen in the early morning in London October 15, 2013. REUTERS/Russell Boyce

FRANKFURT (Reuters) – JPMorgan (NYSE:JPM) sees Germany as an “interesting market” for a possible expansion of its consumer business but no decision has yet been made, an executive said on Thursday.

Stefan Behr, the chief executive of JPMorgan in Europe, said the U.S. bank was still focused on the digital-only consumer bank it set up in Britain, its first such foray into that business outside the United States, and that the aim was to eventually expand it elsewhere.

Reuters reported earlier this week that JPMorgan plans to hire a team of retail bankers in Germany as it readies the expansion.

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