Revolut posts record £1.7bn profit as it bids to become a global bank
What's the deal? Revolut posted record pre-tax profits of £1.7bn ($2.3bn) for 2025, up 57% year on year, as revenues climbed 46% to £4.5bn ($6bn). The London-based neobank, now valued at $75bn, reported 68.3 million customers — up from 52.5 million in 2024 — with growth across every major revenue line.
Subscriptions were the standout, surging 67% to £708m ($936m). Card payment fees rose 45% to £1bn, while interest income hit £974m.
Why now? The results land weeks after Revolut secured a full UK banking licence — a milestone its co-founder and chief executive, Nik StoronskyDealroom has a profile for this one. Try Dealroom →, had called the company's "number one priority." The licence ends a five-year regulatory battle and unlocks lending at scale in its home market.
The timing also suits an aggressive international push. Revolut has filed for a US banking charter this month, appointed a new US chief executive, and is reportedly eyeing a secondary share sale that could value it at $100bn. Its US customer base grew 230% in 2025.
What could go wrong? Regulatory complexity remains the chief risk. Banking licences take years to obtain — the UK process took five — and a US charter application faces a notoriously demanding approval process. Operating across 40 markets under 30-plus licences creates significant compliance overhead.
Revolut's lending ambitions will expose it to credit risk at scale for the first time — a very different business from moving money and selling subscriptions.
The signal: Revolut is no longer a neobank in the disruptive-upstart sense — it is becoming a global bank that happens to run on a phone. With 11 product lines each generating over $100m annually and 38% profit margins, it has built the diversified, resilient model that most fintechs never reach.
The deeper trend: the line between fintech and traditional banking is dissolving. Revolut's push for federal infrastructure in the US — its own access to Fedwire, ACH rails, and FDIC insurance — signals it wants to stop relying on intermediaries entirely. That's not a startup play. That's a bank play.
Sources:
Revolut
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