British fintech giant Revolut reported a 57% increase in its pretax profit for the year 2023, reaching £438 million, according to its delayed annual accounts. The company's revenue also saw significant growth, rising 95% to £1.8 billion.
The neobank's global customer base expanded to over 68 million by the end of 2023, up from approximately 35 million at the end of 2022. This growth was driven by strong performance in its core markets across Europe and the UK.
Revolut's financial results, which were filed with UK authorities, highlight the company's continued expansion and improving profitability. The firm attributed its performance to increased interest income and transaction volumes from its retail and business customers.
The company is still awaiting a decision on its UK banking license application, a key step for its long-term strategy. Despite this pending approval, Revolut has continued to expand its product offerings and geographic footprint.
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