Financial Performance and Growth
Revolut reported a pre-tax profit of £1.4 billion for 2024, marking a significant increase from the previous year, driven by its wealth division and cryptocurrency trading.
The fintech firm's subscription revenue surged by 74% to £423 million, with enhanced benefits attracting more paying subscribers.
Regulatory Progress and Strategic Initiatives
After a lengthy approval process, Revolut secured a UK banking license with restrictions in July 2024, aiming for a full launch later this year.
Revolut's "Karma" system, introduced in 2020, tracks staff compliance and risk management, influencing bonus payouts and promoting a culture of compliance.