Finance app Revolut said its pretax profit hit a record £1.7 billion in 2025, up 57% from the year before, more than doubling its lending, as the company positions itself to compete more directly with mainstream banks.
Revolut was recently cleared by regulators to launch its UK bank.
It said its revenue rose to £4.5 billion, up from £3.1 billion the previous year, driven by income from fees charged to its 68.3 million customers.
The company said it more than doubled its loans to customers, with its lending portfolio - which is mostly consumer loans - growing 120% to £2.2 billion.
It described its mortgage business, launched in Lithuania, as "nascent."
Founded in 2015, Revolut has emerged as the most successful of the handful of European fintech companies founded in the 2010s, with no physical bank branches.
It hit a $75 billion valuation in a private secondary share sale in November last year.
The company is seeking a banking licence in France, although it already offers banking services in the European Union by "passporting" a licence from Lithuania, and has applied for a bank charter in the US.
