Trade Republic Expands in Europe with New Italian Banking Products

Trade Republic, Europe's largest savings platform, has announced its expansion into the Italian market. With over 8 million customers and more than 100 billion euros in assets under management, Trade Republic is reinforcing its status as a key innovator in the banking industry. The company now offers a free current account and local IBAN in Italy, along with automated tax deductions through the Regime Amministrato, marking it as a strong competitor to established local banks.

This move follows a recent successful launch in France and reflects the rising demand for accessible savings solutions across Europe. Approximately one-third of Trade Republic's clientele is now international. The expansion highlights the necessity for private retirement planning, acknowledging Europe's pension challenges.

Christian Hecker, Co-Founder of Trade Republic, emphasizes the company's commitment to developing localized, cost-effective savings products to help individuals take charge of their financial futures. Innovations like a 1 percent Saveback on card payments and 3 percent annual interest on balances are tailored to everyday needs, facilitating wealth building.