Revolut has reported a 57% surge in annual profit to $2.3 billion (£1.7 billion) as revenues rose 46% to $6 billion (£4.5 billion), fresh from the London-based digital bank gaining its full UK banking licence.
The results, for the 2025 calendar year, mark a fifth consecutive year of profitability, with the pre-tax margin widening to 38% from 35%.
Revenue growth was broad-based, with subscription income up 67% to $936 million, card payments rising 45% to $1.3 billion, and foreign exchange fees climbing 43% to $800 million.
The customer base grew 30% to 68.3 million retail users across 40 markets, while business customers rose 33% to 767,000.
In the UK specifically, where the firm has been able to offer many of the same services as a bank apart from lending, retail and business clients both grew 23% year-on-year. Earlier this month, its full UK banking licence was awarded following an 18-month 'mobilisation' stage.
Groupwide customer balances surged 66% to $67.5 billion, while Revolut's lending portfolio more than doubled to $2.9 billion (£2.2 billion), driven by personal loans, credit cards and an early-stage mortgage offering.
Chief executive Nik Storonsky, who co-founded the company in 2015, said the group had "built a diversified, resilient business that is profitable at scale".
He added: "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.”
The process to roll out full banking services to its 13 million UK customers has begun, while Revolut has filed for a national bank charter in the US as it targets 100 million global customers by mid-2027 and has committed £10 billion to international expansion over the next five years.
Finance chief Victor Stinga noted that Revolut now has 11 different product lines exceeding £100 million in annual revenue, creating a "multi-engine platform [that] provides the structural resilience to navigate any environment" and a company that is "uniquely placed to continue incubating the new bets that will redefine banking".