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.
The group’s annual results also showed that directors were paid a combined £1.94 million last year in salary, pension and benefits, up from £1.91 million in 2024.
The highest paid director was handed a £401,000 pay package, up from £397,000 in 2024.
