A decade after its launch, Revolut is signaling its transition from a disruptive fintech to a profitable global banking powerhouse. Releasing its 2025 Annual Report, the Group revealed a fifth consecutive year of net profitability, underpinned by a 46% surge in revenue to $6.0 billion (£4.5bn).
The results demonstrate a highly diversified business model where growth is no longer dependent on a single service, with 11 product lines each now generating over $135 million (£100m) in annual revenue.
Financial resilience and margin expansion
Revolut’s “multi-engine” platform has allowed it to scale efficiently while expanding its margins. Profit before tax rose 57% to $2.3 billion, with a PBT margin of 38%, up from 35% in the previous year.
The revenue mix highlights the platform’s depth:
- Card Payments & Subscriptions: Remained core drivers, with subscriptions alone growing 67% to reach $936 million.
- Revolut Business: Now accounts for 16% of total income, with transaction volumes in expansion markets like the US and Singapore growing by over 140%.
- Wealth & FX: Combined to contribute over $1.6 billion to the top line, supported by the rollout of zero-commission ETF plans and CFD trading across 29 countries.
Surge in customer assets and lending
Total customer balances expanded by 66% to $67.5 billion, reflecting deepening trust as the firm secures banking licenses in more jurisdictions. While Revolut maintains a prudent balance sheet-holding 90% of assets in cash and Treasury investments it has aggressively scaled its lending activities.
The lending portfolio grew by 120% to $2.9 billion, driven by personal loans, credit cards, and a strategic entry into mortgage refinancing in Lithuania. This shift contributed to a 23% increase in interest income, totaling $1.3 billion.
2026: The roadmap to a Global Bank charter
The report arrives during a pivotal regulatory month. In March 2026, Revolut successfully exited the “mobilization” phase in the UK, allowing it to provide full banking services to its 13 million UK customers.
This milestone serves as the template for the Group’s next major move: the formal application for a U.S. national bank charter in March 2026. Currently operating as a licensed bank in over 30 markets, Revolut is operationalizing its global network to become the world’s first truly borderless bank.
Strategic investment and the path to 100 million
With a retail customer base that grew 30% to 68.3 million in 2025, Revolut has set a target of reaching 100 million customers by mid-2027. To support this ambition, the Group has committed to a £10 billion ($13bn) investment over the next five years.
Key 2026 growth initiatives include:
- Human Capital: Creating 1,000 high-skilled roles at the new London Global HQ.
- Product Innovation: Expanding the “Revolut Mobile” network service and the ultra-premium Titan corporate card for global enterprises.
- Security Evolution: Utilizing advanced AI models that have already enabled a 10x increase in fraud case review capacity.
According to Nik Storonsky, Co-Founder and CEO, the 2025 results prove that the technology-driven operating model can drive rapid expansion and record profitability simultaneously. A decade into the journey, the Group enters 2026 positioned to redefine the structural boundaries of global banking.
