Revolut Achieves Record Profits, Eyes IPO Amid UK Banking License Hopes

The fintech giant reports a £438 million profit for 2023 and anticipates regulatory approval for its UK banking license.

Revolut swung from a £25 million loss in 2022 to a £438 million profit in 2023.
The company added 12 million customers last year, boosting revenues by 95% to £1.8 billion.
CEO Nikolay Storonsky remains optimistic about securing a UK banking license after addressing regulatory concerns.
A UK banking license would enable Revolut to offer loans and mortgages, expanding its financial services.
Revolut aims for a $40 billion valuation in an upcoming $500 million share sale.