Reported 2 days ago
Revolut reported a staggering 149% increase in its pretax profit, reaching £1.1 billion ($1.46 billion) in the past year, driven by a surge in crypto trading and increased income from interest rates and card fees. Revenue rose to £3.1 billion, with notable growth in its 'Wealth' segment, which expanded by 300% year-on-year. CEO Nikolay Storonsky increased his ownership stake in the company, now holding over 25%. The firm expects to begin operating as a UK bank soon and continues to invest in fraud protection, amid rising customer numbers and plans to challenge traditional lenders.
Source: YAHOO