Trade Republic opens local units in France, Spain and Italy

8 million customers manage 100 billion euros - Broker expands with localized banking products in Europe

Berlin, January 9, 2025 - In a further step towards its European growth strategy, Trade Republic is expanding its international presence and launching national business units in France, Spain and Italy. The company now has 8 million customers managing more than €100 billion in assets - a milestone that underpins its position as Europe's largest savings platform.

Success factors: card and current account drive growth

The massive customer growth in the past year is closely linked to the introduction of new products. With a free current account and a payment card that automatically invests 1 percent of the amount in a savings plan with every purchase (our report), Trade Republic is focusing on simple, automated savings processes. In addition, customers receive the full ECB interest rate of currently 3 percent on their balance - without fees or restrictions.

Focus on internationalization

The opening of national business units enables the introduction of localized products. In France, the commission-free savings plan for the tax-privileged PEA savings account will be the first to be offered, together with a French current account and national IBAN.

We want to be Europe's first bank to combine locally adapted products with an international platform

Christian Hecker, Co-Founder Trade Republic

Profitability despite passing on interest

Despite extensive investments and the passing on of ECB interest rates to customers, Trade Republic remained profitable throughout 2024. This shows that the company's business model is geared towards sustainable growth and customer loyalty.

In 2025, the focus will be on other countries: in addition to current accounts with national IBANs, state-subsidized savings products with tax benefits will also be offered in other markets.