FRANKFURT, Nov 6 (Reuters) - Germany's financial

watchdog BaFin has imposed its largest-ever fine of 45 million

euros ($52.5 million) on Frankfurt-based JPMorgan SE for

deficiencies in money-laundering prevention.

BaFin said on Thursday that JPMorgan ( JPM ) had "systematically"

filed so-called suspicious activity reports late in the period

from October 2021 though September 2022.

JPMorgan ( JPM ) has grown to one of the largest banks in Germany,

drawn to its large wealthy customer base, stable regulatory

environment and fintech scene.

"The fine relates to historical findings and the timing of

our SAR filings did not impede any investigations by the

authorities," JPMorgan ( JPM ) said in a statement.

"We are deeply committed to detecting, preventing, and

reporting money laundering and financial crimes," the bank

added.

The U.S. bank recently announced it would launch its

Chase digital retail bank in Germany in the second quarter of

next year, a bold move into the crowded banking market of

Europe's largest economy.

($1 = 0.8575 euros)

(Reporting by Tom Sims, editing by Madeline Chambers and Thomas

Seythal)