Revolut Posts $2.3 Billion Profit as UK Banking License Fuels Expansion
UK-based FinTech Revolut reported a record profit of $2.3 billion for 2025, with revenues reaching $6 billion, a 40% increase year-over-year. The results reach weeks after Revolut secured its long-awaited UK banking license and follow a year of expansion into new markets.
“2025 was another landmark year. We have built a diversified, resilient business that is profitable at scale, providing the foundation for our next phase of growth,” said Nik Storonsky, Revolut’s co-founder and CEO, in a news release.
“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.”
Subscription and Card Payments Drive Revenue Growth
The company’s revenue growth was primarily driven by subscription services, which increased by 67% to $936 million, and card payments, up 45% to $1.3 billion. Revolut’s success in the subscription economy has allowed it to combine global banking expansion with subscription tiers that unlock additional financial tools and services.
US Expansion and Banking Charter Application
Revolut similarly highlighted significant growth in the U.S., with a 230% increase in its customer base, a 200% rise in transaction volumes, and a 100% increase in deposits and customer balances. Earlier this month, the company appointed a new CEO for its American operations and filed for a U.S. Banking charter.
Securing a U.S. Banking charter is a strategic move for Revolut, allowing it to operate in all 50 states under a single federal regulator with FDIC deposit insurance. This would also enable the company to connect to core payment rails like Fedwire and ACH, and offer products like personal loans and credit cards. The company aims to reduce its reliance on intermediaries and gain greater control over its infrastructure.
Digital Bank Adoption on the Rise
Revolut’s growth aligns with a broader trend of increasing consumer adoption of digital banks. Currently, 13.8% of consumers now apply a digital bank as their primary financial institution, approaching the levels of traditional local and regional banks and credit unions.