Santander's Openbank Strengthens Presence in Germany with Local Ibans and Loans Offering

Hey Digital Banking Fanatic!

Openbank, Grupo Santander's digital bank, is expanding its services in Germany by introducing German IBANs and personal loans up to €24,000 with terms of up to 60 months. The bank will now operate as a German branch under BaFin supervision, in addition to Spanish banking oversight.

Petri Nikkila, Global CEO of Openbank, stated: "After four years operating in the German market, Openbank is expanding its presence in a key region for growth in Europe. We believe customers value the potential of a digital banking model such as Openbank that offers products with competitive returns and the security and backing of a financial group like Santander."

The bank, which manages over €19 billion in deposits, has also launched an upgraded mobile app with instant free transfers within the eurozone. Customers receive access to German-speaking customer service, up to five free monthly ATM withdrawals in the eurozone, and unlimited withdrawals at over 40,000 Santander ATMs worldwide.

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Cheers,

Marcel

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