Spanish banking group BBVA has launched a new digital bank in Germany, expanding its footprint beyond corporate and investment banking to target everyday retail customers in one of Europe’s largest financial markets.
The new offering includes a fee-free, interest-bearing current account with 3% annual interest for the first 12 months and a debit card providing 3% cashback on purchases. BBVA’s digital bank will also offer a full suite of services, including instant SEPA transfers, direct debits, personal loans, flexible financing options, and access to around 70,000 ATMs and cash withdrawal points across Germany and the European Union.
With 59.3 million mobile customers globally, BBVA is positioning itself as a challenger to established German digital and traditional banks. CEO Onur Genç said the bank aims to deliver “a banking experience that combines the simplicity and convenience of a fee-free account, typical of digital actors, with the full range of products, reliability, and trust of a universal bank.”
The German launch follows BBVA’s digital expansion into Italy in late 2021, where the bank has already attracted over 700,000 customers. BBVA plans to grow that number to one million by 2026, using its digital-first strategy to tap into changing consumer preferences across Europe.
By bringing its digital model to Germany, BBVA is betting on a growing appetite for mobile-first banking services, particularly those that offer low fees and competitive interest rates. The move reinforces the group’s broader ambition to become a leading pan-European digital bank.
