Revolut declared a record exercise, exceeding for the first time $ 1 billion in annual profits while the giant Fintech is preparing to launch its full banking operations in the United Kingdom later this year.
The company based in London announced Thursday that its net profit for 2024 had reached 1.1 billion pounds sterling ($ 1.5 billion), marking an increase of 149% compared to the previous year.
Total turnover has also climbed 72%, climbing 3.1 billion pounds sterling, driven by robust growth in several business segments.
The revolut wealth division rises 298% on the resurgence of cryptographic trading
An out -of -competition artist was the revolut wealth division, which includes actions and crypto trading services. The unit experienced a 298% increase in income, generating 506 million pounds sterling in the middle of a resurgence of the activity of cryptocurrencies.
Subscription services also contributed significantly, turnover increasing by 74% to 423 million pounds sterling.
In addition, the Revolut Loan Book increased by 86% to 979 million pounds sterling, while a sharp increase in customer deposits fueled a 58% increase in interest income, totaling 790 million pounds.
This financial moment arrives at a pivotal time while Revolut goes to a bank entirely authorized on its domestic market.
After a three-year request process, the company obtained a limited banking permit of the prudential regulation Authority (PRA) of the United Kingdom in July 2024.
Revolut awaits the final regulatory approval to migrate its 11 million British customers to its new banking entity.
Revolut is financial application n ° 1 in Europe – once again (a thread
))
Thanks to your confidence, we defined a new reference in 2024. pic.twitter.com/lf7fammoel
– Revolut (@revolutapp) April 24, 2025
))Once operational, the company will offer traditional banking products such as loans, overdrafts and mortgages, unlocking new sources of income.
However, Revolut faces strong competition from established digital banks like Monzo and Starling, which both obtained full licenses for years earlier.
“We have improved our economy and accelerated the adoption of products, which led to our 4th consecutive year of profitability and has earned us the status of the most precious private technology company in Europe,” said CEO Nik Storonsky.
“We have welcomed new investors thanks to the sale of secondary shares to an implicit evaluation of $ 45 billion.”
Revolut launches the Crypto Revolut X trading platform
In May of last year, Revolut introduced its autonomous crypto trading platform called Revolut X, addressing British retail customers.
At the time, the company said it has designed the new platform to compete with the main exchanges of cryptography by providing easy highlighting and landing costs.
Although initially intended for professional merchants, Revolut X is accessible on the desktop for all British users with a Revolut retail account.
Merchants on Revolut X can engage in more than 100 tokens transactions with fixed costs of 0% for manufacturers and 0.09% for takers, regardless of the volume of exchanges.
The introduction of Revolut de Revolut X intervened after the launch of Revolut Ramp in March, which allows users to buy the crypto directly in their web 3 portfolios via a partnership with the developer Metamask Rsensys.
In November, the company expanded its exchange of Crypto Revolut X to serve customers in 30 other European countries.
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