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 fintech – which this month secured the long-awaited all-clear to become a fully fledged bank in the UK – reported pre-tax profits 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 and 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 (PRA) 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 dollars (£56 billion) in a fundraise last year, said revenues lifted 46% to £4.5 billion last year, helped by more customers paying for premium services.
This article was written by Holly Williams from The Independent and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.