Close Menu
POTUS News
  • Home
  • Health & Welfare
    • Environmental & Energy Policies
    • Historical & Cultural Context
    • Immigration & Border Policies
  • Innovation
    • International Relations
    • Judiciary & Legal Matters
    • Presidential News
    • Regional Spotlights
  • National Security
  • Scandals & Investigations
    • Social Issues & Advocacy
    • Technology & Innovation
  • White House News
    • U.S. Foreign Policy
    • U.S. Government Agencies
    • U.S. Legislative Updates
    • U.S. Political Landscape

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Alibaba to launch AI-powered smart glasses creating rival to Meta

July 28, 2025

Tracking Trump’s Tariffs: Rates for China, the E.U. and More

July 28, 2025

Why Trump’s approval rating is so steady: AP-NORC polling

July 27, 2025
Facebook X (Twitter) Instagram
POTUS NewsPOTUS News
  • Home
  • Health & Welfare
    • Environmental & Energy Policies
    • Historical & Cultural Context
    • Immigration & Border Policies
  • Innovation
    • International Relations
    • Judiciary & Legal Matters
    • Presidential News
    • Regional Spotlights
  • National Security
  • Scandals & Investigations
    • Social Issues & Advocacy
    • Technology & Innovation
  • White House News
    • U.S. Foreign Policy
    • U.S. Government Agencies
    • U.S. Legislative Updates
    • U.S. Political Landscape
POTUS News
Home » British fintech Revolut tops $1 billion in profit as revenue jumps
Technology & Innovation

British fintech Revolut tops $1 billion in profit as revenue jumps

potusBy potusApril 24, 2025No Comments3 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
Share
Facebook Twitter LinkedIn Pinterest Telegram Email


Revolut CEO Nikolay Storonsky at the Web Summit in Lisbon, Portugal, Nov. 7, 2019.

Pedro Nunes | Reuters

LONDON — British fintech firm Revolut on Thursday announced it topped $1 billion in annual profit for the first time, a major milestone for the company on the road to an eventual initial public offering.

Revolut, which offers a range of banking and financial services via an app, said that net profit for the year ending Dec. 31, 2024, totaled £1.1 billion ($1.5 billion), up 149% year over year. Revenues at the company increased 72% year on year to £3.1 billion, driven by growth across different revenue streams.

Revolut’s wealth unit — which includes its stock-trading business — saw outsized growth, with revenue surging 298% to £506 million, while subscriptions turnover jumped 74% to £423 million.

Revolut also saw significant growth in its loan book, which grew 86% to £979 million. Coupled with a jump in customer deposits, this contributed to a 58% increase in interest income, which totaled £790 million.

UK bank rollout

Revolut’s financial milestone arrives at a critical time for the almost decade-old-firm. The digital banking unicorn has been preparing a transition to becoming a fully operational bank in the U.K. after securing a banking license last summer.

It was granted a banking license with restrictions in July 2024 from the U.K.’s Prudential Regulation Authority, bringing an end to a lengthy application process that began back in 2021.

The restricted license means that Revolut is now in the “mobilization” stage, where it is focusing on building out its banking operations and infrastructure in the run-up to a full launch. The period typically lasts about 12 months.

Francesca Carlesi, Revolut’s U.K. CEO, told the Wall Street Journal last month that it views its journey to becoming a fully authorized U.K. bank as a crucial step in its global expansion and eventual IPO. “My main strategic focus is making Revolut the primary bank for everybody in the U.K.,” she told the WSJ.

Revolut is still awaiting approval from regulators to transfer all of its U.K. users to a new banking entity this summer. Once fully up and running, the firm will be able to begin offering loans, overdrafts and mortgages, opening up the path to new income streams.

It has a steep hill to climb — rivals Monzo and Starling have had a lengthy head start on Revolut. Monzo obtained its full banking license in 2017, while Starling was granted its own permit in 2016.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
potus
  • Website

Related Posts

Alibaba to launch AI-powered smart glasses creating rival to Meta

July 28, 2025

Tesla investors grow wary of Elon Musk robotaxi promises

July 26, 2025

Tesla plans ‘friends and family’ service in California, regulator says

July 26, 2025

Shengjia Zhao to lead Meta’s AI Superintelligence Lab

July 25, 2025

Palantir jumps to all-time high, becomes 20th most valuable U.S. firm

July 25, 2025

Inside Tesla’s new retro-futuristic Supercharger diner

July 25, 2025
Leave A Reply Cancel Reply

U.S. Foreign Policy

The U.S. Is Abandoning the Global Fight for LGBTQ Equality

July 24, 2025

On July 11, U.S. Secretary of State Marco Rubio carried out his State Department overhaul…

On Defending Human Rights, America Returns to First Principles – Foreign Policy

July 24, 2025

Will Trump Help Netanyahu Maintain Power in Israel?

July 22, 2025

Will Trump Help Netanyahu Maintain Power in Israel?

July 22, 2025
Editors Picks

Which US states could be hit hardest by Trump’s Canada and Mexico tariffs? | Business and Economy News

March 5, 2025

China sets 5 percent growth target despite trade war with US | Trade War News

March 5, 2025

As Trump roils stock markets, investors are betting big on Europe’s defence | Military

March 5, 2025

Climate crisis threatens Pakistan’s bees and honey trade | Climate Crisis News

March 4, 2025
About Us
About Us

Welcome to POTUS News, your go-to source for comprehensive news and in-depth analysis on President Trump, the White House, and U.S. governance. Our mission is to provide timely, reliable, and detailed coverage on key political, economic, and social issues under President Trump’s administration, as well as the broader U.S. government.

Our Picks

Alibaba to launch AI-powered smart glasses creating rival to Meta

July 28, 2025

Tracking Trump’s Tariffs: Rates for China, the E.U. and More

July 28, 2025

Why Trump’s approval rating is so steady: AP-NORC polling

July 27, 2025

Alibaba to launch AI-powered smart glasses creating rival to Meta

July 28, 2025

Tesla investors grow wary of Elon Musk robotaxi promises

July 26, 2025

Tesla plans ‘friends and family’ service in California, regulator says

July 26, 2025

Shengjia Zhao to lead Meta’s AI Superintelligence Lab

July 25, 2025
© 2025 potusnews. Designed by potusnews.
  • Home
  • About Us
  • Advertise with Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.