Revolut shows success

Not content with diversification his offers and see his client portfolio almost exponentially growing in France and internationally, the British neo-bank Revolut has just revealed the figures of his annual report 2024, highlighting at the same time the sustainability of its profitability. In this positive momentum, it also raises its ambitions for the future.

FACTS

• The year 2024 was therefore a record year for the neo-bank Revolut. The Commission has indeed recorded financial results which it presents as exceptional and in particular marked by profitability recorded for the fourth consecutive year.

• Revolut also estimates that it achieved profits before taxes equivalent to £1.1 billion (almost €1.3 billion), an increase of 149 % over the previous year. Its net profits thus approach billion euros.

• Its turnover increased by 72% to £3.1 billion (about €3.6 billion), thanks to growth across all business segments.

• In terms of prospecting, Revolut has seen its customer base increase by 38% to reach 52.5 million users of its services worldwide. It has convinced 15 million new users worldwide over a year.

• This growth in the customer portfolio also boosts the use of the services of the neo-bank, which records an increase in customer deposits of 66% to finally total almost £30 billion (just over €35 billion). Revolut's proposed appropriations increased by 86% to £979 million. Card payments generated £665 million in income in Revolut (almost €780 million).

ISSUES

• Highlight the relevance of its strategy Revolut takes advantage of the publication of this new annual report to highlight the fact that its activities cryptocurrency trading It raised £485 million (€568 million). Like its other offers and services, this activity allows it to generate revenues.

• Continue expansion These good results allow the neo-bank to continue its internationalization, while Revolut now plans to offer its services in Mexico and other markets in the Americas and Asia-Pacific. Overall, Revolut plans to reach 100 million active users across 100 countries.

PERSPECTIVE

• Revolut's performance for the year 2024 illustrates once again the rise of Fintech against traditional banks. Moreover, according to recently completed and unveiled by Bain & Company, the share of net banking product captured by large traditional banks is likely to decrease by 25% by 2030, due to increased competition with FinTechs and other neo-banks.

• Revolut now displays a $45 billion valuation. However, the neo-bank must respect the established rules; She's just had a fine EUR 3.5 million in Lithuania due to shortcomings found by the competent authorities in its money laundering control processes.

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