Revolut customers reach 68.3 million in 2025 as European oversight tightens on product launches
Key Facts
Revolut had about 68.3 million retail customers at the end of 2025, up 30% during the year, as its European unit faced temporary restrictions on launching new products. The Irish Times reported that the European Central Bank imposed the restrictions during the summer of 2025 pending the resolution of shortcomings in product approval procedures. The European unit’s board was informed of the restrictions in July 2025, according to the newspaper. The European Central Bank requested an independent review of the risk, compliance and legal functions linked to product launches. The steps put approvals and internal governance at the center of oversight of the group’s expansion in Europe.
The review covered staffing levels, skills and competencies, and the independence of product approval mechanisms, according to the Irish Times. It also examined the risk, compliance and legal functions involved in the launch process, areas related to how new initiatives are assessed before being introduced. The newspaper said the European Central Bank temporarily restricted Revolut Bank UAB’s ability to launch new products in the European Economic Area. The measures concern the group’s European arm, while the available facts do not establish that a similar decision was taken against the British bank. In response to the European matter, Revolut said it was in “ongoing and constructive dialogue” with regulators, including the European Central Bank.
In the UK, Revolut Bank UK Ltd launched on 11 March 2026 after the Prudential Regulation Authority lifted restrictions on its banking licence following the completion of the mobilisation phase, according to the company’s announcement. Revolut said the bank would roll out new banking services gradually to its 13 million UK customers at the time of launch. A company representative told the UK Parliament’s Treasury Committee in March that all new subscriptions since that week had been opened with the British bank. The Bank of England’s list of regulated firms lists the bank under reference number 981170. The bank’s launch comes in a domestic market with a large customer base, while the announced European restrictions remain tied to the European unit and its regulatory path.
The expansion of the customer base was accompanied by a 66% increase in customer balances to $67.5 billion in 2025, compared with $38 billion in 2024, according to Revolut’s results. Revenue also rose 46% to $6.0 billion, from $4.0 billion the previous year. Pre-tax profit climbed 57% to $2.3 billion, from $1.4 billion in 2024. By May 2026, the company said it had surpassed 70 million customers globally. The figures illustrate the breadth of the group’s operations and the growth of its business, without the company linking them in its published statements to the European regulatory measures.
Revolut also expanded its payment offerings, running a trial of facial-recognition payments at selected Kiss the Hippo coffee shops in London between 24 and 26 September 2026. The company said customers were able to try the technology for a limited period at its Bloomsbury, Chelsea and Soho locations. The trial was a step in developing payment services, but does not establish a link to the European approval-process review reported by the Irish Times. In October, Reuters quoted the chief executive as saying the company processes between 30 million and 40 million transactions a day, as he discussed its ambition to become a global technology company extending beyond banking services. This reflects the wider scope of activity the group is working to manage across its various services.
Against the backdrop of UK monetary policy, the Bank of England held its interest rate at 3.75% in September 2026 by a 6-to-3 vote, with the three dissenting members voting to raise it to 4%. The bank said the committee stood ready to act to ensure inflation remained on a path back to its 2% target over the medium term. UK consumer prices rose 3.5% in the 12 months to September, compared with 3.1% in August, according to the Office for National Statistics. September data were published on 21 October, and the office set 18 November as the date for the next release. The Bank of England’s next interest-rate meeting is scheduled for 5 November, while Deputy Governor Clare Lombardelli said in September that the bank could not provide firm guidance on the path and that its decisions would depend on how the energy shock developed and passed through to the economy and inflation.