By Helena Smolak
Trade Republic Bank obtained a full banking license from the European Central Bank, which allows it to provide new banking services, including deposits and credit offerings.
The Berlin-based online broker said Wednesday that this development came along with the establishment of an audit committee that strengthens its corporate governance. The committee is composed of Dr. August Oetker KG’s Chief Financial Officer Ute Gerbaulet, Banco Santander’s North America regional head Christiana Riley, and former Trade Republic managing director Andreas Willius. The committee composition is pending approval from the German Federal Financial Supervisory Authority, the company said.
Trade Republic expects to accelerate market share growth in Germany with a full banking license, it said. Trade Republic has customers in 17 European countries, the company added.
Write to Helena Smolak at [email protected]
Read the full article here