Barclays will buy U.S. personal loan originator Best Egg

By Tom Sims FRANKFURT (Reuters) -JPMorganChase will launch its Chase digital retail bank in Germany in the second quarter of next year, it said on Thursday, a bold move into the crowded banking market of Europe’s largest economy. The U.S. banking giant has been preparing the launch in recent years with a spate of hiring, but had kept the timing under wraps. Germany would be Chase’s second European market, after its launch in Britain in 2021. JPMorgan is already one of the largest banks in Germany, drawn to its large wealthy customer base, stable regulatory environment, and fintech scene. But the country is a challenging market due to a fragmented landscape, with what analysts say are too many banks. Entrants on the retail side face a competitive consumer market dominated by local incumbents, where margins are thin. Deutsche Bank, Germany’s largest bank, is trying to make its retail bank more profitable by shedding staff and branches. Other lenders like Spain’s Banco Bilbao Vizcaya Argentaria have already launched digital banks in Germany, while ING and N26 are among big online banks long operating in the country. The Chase bank will be based in Berlin and will start by offering savings accounts before expanding products. "This marks a significant expansion of JPMorganChase’s footprint in the country, building on over a century of serving clients and communities there," JPMorgan said. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. "This is going to be a battle," Jamie Dimon, JPMorgan’s long-standing CEO, told investors in 2022. The fastest way to find out is with our Fair Value calculator. We use a mix of 17 proven industry valuation models for maximum accuracy. Get the bottom line for JPM plus thousands of other stocks and find your next hidden gem with massive upside.

Explore the recent trend of US banks closing branches due to the rise of online banking and digital solutions.

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Investing.com -- French retail banking is showing clear signs of recovery, with Société Générale (EPA:SOGN) best positioned to benefit among listed peers, Barclays analysts said in note dated Thursday. According to the report, revenues in French retail banking began to accelerate in the second half of 2024, with both net interest income (NII) and fees contributing. The analysts expect this recovery to continue through 2027, citing improved mortgage margins, a more stable deposit mix, and a steepening yield curve. Barclays projects NII in French retail operations will rise between 2024 and 2027 by 26% at SocGen, 19% at BNP Paribas (OTC:BNPQY), and 10% at Crédit Agricole SA. Mortgage margins have returned to positive territory, and deposit growth has remained resilient despite earlier pressure from high-yield regulated savings like the Livret A. The analysts expect the Livret A rate to decline further, potentially supporting lower deposit costs and encouraging asset flows into fee-generating products. Fee income is expected to increase by 13–15% at the three banks between 2024 and 2027, driven by renewed inflows into mutual funds and life insurance policies. Barclays cited record net inflows into life insurance in early 2025, including €5.8 billion in February, the highest for that month in two decades. SocGen also leads in the proportion of unit-linked contracts in life insurance assets under management, a segment that generates higher margins and lower capital consumption. Cost reductions are expected to contribute to the recovery. France maintains one of the highest bank branch densities in Europe, despite average internet banking adoption. Barclays noted SocGen has already cut its branch network significantly, while BNP Paribas plans to reduce branches by one-third by 2030. Costs relative to risk-weighted assets remain high across French networks, especially at SocGen, indicating room for further rationalization. Return on equity (ROE) for French retail operations remains below the cost of equity (COE) for most banks, but Barclays forecasts a rebound. Only LCL, Crédit Agricole’s retail unit, posted double-digit ROE in 2024. By 2027, Barclays expects returns to improve across the board, with SocGen’s French retail banking return on tangible equity (ROTE) forecast to be the highest among the listed peers. French retail banking accounts for around 33% of SocGen’s revenue and 30% of its profit before tax, compared with 13% and 10% respectively at BNP Paribas, and 15% and 10% at Crédit Agricole SA. Barclays estimates French retail banking will drive 72% of SocGen’s profit before tax growth from 2025 to 2027, versus 40% at Crédit Agricole and 23% at BNP Paribas. Barclays rates SocGen and BNP Paribas “overweight” and Crédit Agricole “equal weight,” citing SocGen’s stronger exposure to the segment and its earnings sensitivity to the ongoing retail recovery. Before you buy stock in SOGN, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is SOGN one of them?

NEW YORK (Reuters) -Money manager Thrivent opened a digital bank on Sunday, aiming to attract young people as part of a nationwide push, the company said on Monday. "For over 120 years, Thrivent has provided purpose-based advice and now we’re expanding in banking to grow and serve even more people," Thrivent CEO Terry Rasmussen said in a statement. The bank "will help us build relationships with younger clients earlier," she said. The company, which has Lutheran roots, currently serves 2.4 million clients through thousands of financial advisors and manages more than $193 billion in assets. "There’s been this very notable upswell out there for more purpose-driven experiences," Brian Milton, CEO of Thrivent Bank, told Reuters in an interview. "There are 20 million Americans out there who are shopping for a bank account... we know they’re younger, we know they’re diverse, we know they’re looking for transparency and fairness.” The new bank is one of few to have gained approval to operate from the Federal Deposit Insurance Corporation under the Biden administration. It secured a rare charter from the government to become an industrial loan company, the first since 2020. The digital bank will take on a group of about 50,000 members from Thrivent’s existing credit union, which will be merged into the bank. It already houses about $700 million in deposits and will continue to offer loan products, such as mortgages, to retail clients.

Wir sind Pionierin im Bankgeschäft.Seit 1974 finanzieren wir ausschließlich sozial-ökologische Projekte und Unternehmen. Wir arbeiten nicht nur sinnstiftend, sondern auch transparent. Als einzige Bank in Deutschland legen wir unsere Kreditliste offen. Wir sind eine stark wachsende [...]

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