Revolut reveals record profit in 'landmark' year; customer base jumps

Revolut has revealed a record £1.7 billion annual profit haul after customer numbers surged by nearly a third and doubled down on plans to reach 100 million customers globally by the middle of next year.

The London-based fintech – which this month secured the long-awaited all-clear to become a fully fledged bank in the UK – reported pretax profit of £1.7 billion for 2025, up from £1.1 billion in 2024.

Its global customer base jumped by 30% to 68.3 million by the end of the year as it added another 16 million new retail customers and saw its business customer base grow by a third to 767,000.

The group got the green light from regulators earlier this month for a full banking licence in the UK, nearly five years after it first applied.

It also applied for a banking licence in the US in March and said it now operates as a licensed bank in over 30 of its 40 markets worldwide, with a target to hit 100 million customers by the middle of 2027

Nik Storonsky, co-founder & chief executive of Revolut, said: ‘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.’

Revolut – which already has 13 million customers in the UK – plans to offer a wider array of banking services in the UK, such as lending and other products, after getting approval from the Bank of England’s Prudential Regulation Authority for a full UK banking licence.

The group has started rolling out current accounts to a small number of new UK customers and will gradually expand this over the coming weeks.

It comes after Revolut was granted a licence with restrictions in July 2024, having first applied to become a full bank in 2021.

Revolut, which was valued at around $75 billion in a fundraise last year, said revenue lifted 46% to £4.5 billion last year, helped by more customers paying for premium services.

By Holly Williams, Press Association Business Editor

Press Association: Finance

source: PA

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