Episode Details

Revolut Achieves Record Profits, Secures Full UK Banking License, and Expands into the US Market

Revolut, the fintech giant, reported a 57% increase in pre-tax earnings, reaching £1.7 billion, and a 46% rise in revenue, totaling £4.5 billion, driven by more transactions and premium subscriptions. The company now serves 68.3 million retail customers and 767,000 business users worldwide. Revolut secured its full UK banking license, allowing it to expand lending and offer deposit accounts. Its loan portfolio doubled to £2.2 billion, mostly from consumer credit. With a valuation of £75 billion, Revolut is Europes top private tech firm, founded in 2015 without physical branches. The company is now pushing into the US market, appointing a new regional leader, and plans to offer more products like mortgages.

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