Revolut Achieves $2.3B Profit Milestone While Pursuing U.S. Banking Charter

Key Highlights

• Pretax earnings reached $2.3 billion for 2025, representing a 57% annual increase
• Total revenue climbed 46% to $6 billion, fueled by subscription services, payment card transactions, and foreign exchange operations
• Customer base expanded to 68.3 million retail users (30% growth) and 767,000 business accounts
• Full U.K. banking authorization was granted in March 2026
• Application for a U.S. Bank Charter was submitted in March, enabling nationwide operations if approved

Revolut has delivered its most impressive financial performance yet. The London-based digital banking platform announced pretax earnings of £1.7 billion ($2.3 billion) for the twelve months ending December 31, 2025. This represents a substantial 57% jump compared to the £1.09 billion earned in 2024.

The fintech’s annual revenue reached $6 billion, marking a 46% increase over the previous year. This growth was distributed across multiple revenue channels, with subscription fees, card transaction volumes, and currency exchange services leading the charge.

The business banking division contributed significantly to overall performance. This segment generated 16% of total revenue, while the number of business clients increased by 33% to reach 767,000 throughout the year.

The retail customer base expanded by 30% to 68.3 million users. Customer deposit balances surged 66% to $67.5 billion. The company has established an ambitious objective of acquiring 100 million customers by the middle of 2027.

Chief Financial Officer Victor Stinga revealed that Revolut currently operates 11 distinct product categories, each producing over £100 million in yearly revenue. He emphasized the platform’s “structural resilience to navigate any environment.”

Revolut launched in 2015 and has expanded its presence across 40 international markets. The company achieved a $75 billion valuation through a secondary share transaction in 2025. This valuation positions it alongside traditional U.K. banking institutions such as Barclays and Lloyds Banking Group.

Complete U.K. Banking Authorization Secured

In early March 2026, Revolut obtained its complete U.K. banking license from the Prudential Regulation Authority. The approval process had been protracted, requiring substantial engagement with regulatory authorities.

This authorization enables Revolut to introduce additional financial products throughout the U.K., including personal lending products and various credit services. The lending market in Britain remains largely controlled by conventional banking institutions.

Revolut also initiated comprehensive banking services in Mexico during January 2026. Chief Financial Officer Stinga identified expansion beyond European borders as the company’s “next frontier of focus.”

United States Market Entry Application Submitted

Revolut submitted an application for a U.S. Bank Charter in March 2026. Should regulators approve the charter, the company would gain authorization to conduct banking operations across all 50 states under unified regulatory oversight.

The charter would additionally authorize Revolut to provide personal lending products and credit card offerings to American consumers. While the company maintains operations in the United States currently, it lacks comprehensive banking licensure.

This U.S. application represents another strategic move in the company’s worldwide expansion strategy. Stinga confirmed that the American market will become a priority focus area following the complete rollout of U.K. banking services.

Revolut has not disclosed an expected timeframe for receiving a determination on its U.S. charter petition.

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