Revolut has warned that its support for energy-intensive sectors such as cryptocurrency and artificial intelligence could trigger a backlash, as the fintech reported a 57% increase in pre-tax profit to £1.7bn for 2025.
In its annual report, the company said shifting attitudes towards energy-intensive activities, including the carbon footprint of cryptocurrencies and AI datacentres, could affect demand for its services and present reputational risks. The warning comes amid rising energy prices following geopolitical tensions.
The app-based bank, which recently secured a UK banking licence after a five-year wait, also saw revenues climb 46% to £4.5bn. It added 16 million individual customers, bringing the total to 68.3 million, including 13 million in the UK. Business customers grew by a third to 767,000.
Chief executive Nik Storonsky described the year as a landmark, adding that the company’s technology-driven model is driving rapid expansion. Revolut has now applied for a US banking licence and operates as a licensed bank in over 30 of its 40 markets.
The company believes its digital-first approach may insulate it from climate-related risks relative to traditional banks. Revolut plans to expand into lending and other banking services, having launched mortgage refinancing in Lithuania.
