Revolut Achieves Record Profits and Unveils Global Banking Expansion Strategy
Digital banking leader Revolut has reported a landmark annual pre-tax profit of £1.7 billion, marking a substantial increase from the £1.1 billion recorded in the previous year. This financial achievement coincides with a significant 30 per cent expansion in its global customer base, which now stands at an impressive 68.3 million users worldwide.
Customer Growth and Strategic Milestones
The fintech firm attracted an additional 16 million new retail customers over the past year, while its business client roster grew by a third to reach 767,000. These figures underscore Revolut's accelerating market penetration and its successful transition towards becoming a fully-fledged global bank.
Earlier this month, the company received regulatory approval from the Bank of England's Prudential Regulation Authority for a full UK banking licence, nearly five years after its initial application. This crucial development follows Revolut being granted a licence with restrictions in July 2024, having first applied to become a full bank in 2021.
Global Banking Ambitions and Revenue Growth
Revolut has reaffirmed ambitious plans to reach 100 million customers globally by mid-2027, building upon its current position of 13 million customers in the UK alone. The company has begun rolling out current accounts to a select number of new UK customers, with plans to gradually expand this offering over the coming weeks.
Nik Storonsky, co-founder and chief executive of Revolut, stated: "2025 was another landmark year. As we transition into a truly global bank, we are proving that our technology-driven operating model continues to drive rapid expansion and record profitability. A decade into this journey, we have only just begun to show what is possible."
The group's revenues increased by 46 per cent to £4.5 billion last year, driven primarily by more customers opting for premium services. Revolut, which was valued at approximately $75 billion (£56 billion) in a fundraiser last year, currently operates as a licensed bank in over 30 of its 40 markets worldwide.
International Expansion and Future Prospects
In March, Revolut applied for a banking licence in the United States, further demonstrating its strategic push into regulated financial services across key international markets. The company plans to offer a wider array of banking services in the UK, including lending and other financial products, following its recent regulatory approvals.
This comprehensive expansion strategy positions Revolut at the forefront of the digital banking revolution, leveraging its technology-driven approach to challenge traditional banking institutions while maintaining robust profitability and customer growth metrics.
