Revolut has reported record pre-tax profits of £1.7 billion for 2025, up 57 per cent year-on-year, as the fast-growing fintech prepares to expand further into mainstream banking products, including credit cards in the UK.
The results mark a significant milestone for the London-based group, which recently secured a full UK banking licence from the Bank of England, a development that unlocks a broader range of lending products and signals its transition from a payments platform into a fully-fledged global bank.
Chief financial officer Victor Stinga said the launch of credit cards in the UK is now a “key area of focus” for the business, alongside plans to roll out unsecured personal loans and overdraft facilities to its 13 million UK customers.
The move reflects Revolut’s strategy to deepen relationships with existing users by becoming their primary banking provider, not just a secondary app for payments or foreign exchange.
The company is currently migrating customers from its original payments infrastructure to a more comprehensive banking platform, allowing it to offer a wider suite of financial services.
Revolut’s financial performance highlights the scale of its expansion. Group revenues rose 46 per cent to £4.5 billion, while profit margins increased to 38 per cent, underlining the efficiency of its technology-driven model.
Customer growth remains a central driver. The company now serves more than 70 million users globally, up from 68.3 million at the end of 2025, and operates in over 40 countries.
Business accounts are also becoming an increasingly important segment, with the number of corporate clients rising 33 per cent to 767,000. At the same time, more retail customers are using Revolut as their main bank, paying in salaries and managing day-to-day finances through the platform.
Stinga noted that the company now has 11 different product lines each generating more than £100 million in annual revenue, evidence of a more diversified and resilient business model.
Despite its rapid growth and a valuation of $75 billion following a secondary share sale last year, making it Europe’s most valuable private tech company, Revolut is downplaying speculation about an imminent stock market listing.
Stinga said no decisions had been made on the timing or location of a potential initial public offering, emphasising that management remains focused on product development and international expansion rather than capital markets.
The results also show a shift away from reliance on crypto trading, which was once a key revenue driver. While the wealth division, including crypto, grew revenues by 31 per cent to £663 million, it was the slowest-growing segment of the business.
“Dependency on crypto is now much less,” Stinga said, reflecting a broader industry trend following volatility in digital asset markets.
To sustain its expansion, Revolut significantly increased spending on marketing and brand visibility, with sales and marketing costs rising 47 per cent to £650 million.
The company now has advertising placements in 18 airports across 11 countries and high-profile sponsorship deals with Manchester City and the Audi Formula 1 Team, signalling a shift from organic growth to a more traditional customer acquisition strategy.
Credit losses more than doubled to £61 million as the loan book expanded rapidly to £2.2 billion, up 120 per cent. However, losses as a proportion of lending declined, which the company says demonstrates the strength of its credit assessment systems.
Revolut also reported a “significant reduction” in fraud rates, attributing this to enhanced use of artificial intelligence to detect and prevent fraudulent activity, an area where the company has previously faced scrutiny.
Chief executive Nik Storonsky described 2025 as “another landmark year”, highlighting the company’s ability to achieve profitability at scale while continuing to expand globally.
“We have built a diversified, resilient business that is profitable at scale, providing the foundation for our next phase of growth,” he said.
As Revolut pushes deeper into traditional banking services and continues its global expansion, its challenge will be to maintain growth while navigating regulatory complexity and increasing competition from both established banks and rival fintechs.
With a strengthened balance sheet, a growing customer base and new products on the horizon, the company is positioning itself not just as a disruptor, but as a central player in the future of global banking.
Read more:
Revolut posts record £1.7bn profit as it eyes UK credit card launch