- Trade Republic becomes a full bank and expands its licenses to include deposit and lending business.
- The additional licenses enable new products around the central mission: easy and affordable wealth creation for everyone.
- With the full banking license, Trade Republic reinforces its position as Europe's largest savings platform.
- A prominent audit committee will strengthen Trade Republics corporate governance.
Trade Republic has obtained a full banking license from the European Central Bank (ECB). The additional license allows Europe's largest savings platform to expand its product offering in the areas of investing and saving. Furthermore, corporate governance structures will be expanded forming an experienced audit committee.
"Receiving the full banking license opens up a new chapter for Trade Republic," says Christian Hecker, Co-founder of Trade Republic. "In collaboration with our customers, we aim to continue growing strongly and establish ourselves as one of the leading financial institutions in Europe."
Almost five years after entering the market, Trade Republic can now provide all essential banking services, and meets all requirements that are linked to a full banking license.
By passing on interest rates of 4 percent, the opening of bond trading for retail investors and the new app, Trade Republic has developed its offering in 2023. "The new products have enabled us to expand our market share in Europe in 2023. The focus remains unchanged on the easy, secure and affordable accumulation of wealth," adds Hecker.
As part of obtaining the full banking license, Trade Republic strengthens its corporate governance by establishing an experienced audit committee.
Trade Republic sees itself as the innovation powerhouse within the financial industry, pioneering affordable trading and establishing ETF savings plans as a new form of savings account. In January, Trade Republic fulfilled its leading position by becoming the first financial institution in Germany to pass on higher interest rates, now at 4 percent, to all customers.
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About Trade Republic
Trade Republic is on a mission to set Europeans up for wealth creation with secure, easy and commission-free access to capital markets. It offers investing in savings plans, fractional investing, ETFs, bonds, derivatives and crypto. Trade Republic is a technology company with a full German banking license and supervised by BaFin.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231204046066/en/
Contacts:
Please do not hesitate to contact us directly:
Bettina Fries
presse@traderepublic.com
