In brief: Revolut consolidates its positions in France

The neo-bank Revolut has just made an announcement regarding its ambitions for European expansion and, in particular, its positioning on the French market. Indeed, it confirms its local anchor by its intention to carry out an application for a French bank licence and to establish its head office in Paris.

It is therefore the French capital that was chosen by Revolut to establish its new headquarters in Europe. This announcement is presented as a new step in accelerating the growth of the British neo-bank across Europe. The Paris head office will thus have to supervise the activities of Revolut in Ireland, Germany, Portugal, Spain and Italy (its second head office based in the European Union, and especially in Lithuania, will be retained to manage the activities in the east).

In order to consolidate this position, Revolut also confirms its decision to prepare its application for a French bank licence, which will be filed with the Authority for Prudential Control and Resolution (ACPR).

In total, the new bank plans to invest more than EUR 1 billion in France over three years (including creating more than 200 new local jobs).

This announcement follows the recent confirmation of Revolut's local dynamism. The latter confirmed last April, having exceeded 5 million customers in France. Hexagon thus represents the largest market in Revolut in the European Union, and its second largest global market after the United Kingdom.

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