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Revolut To Take On Amex With Launch Of Points-based Credit Cards

by News Editor

Revolut is setting its sights on a new battleground — the lucrative world of rewards credit cards — in a direct challenge to giants like American Express and Barclaycard. The UK-based fintech, now with over 50 million users worldwide, is quietly working on a suite of credit cards powered by its proprietary RevPoints system.

According to insiders familiar with the project, the upcoming cards will be tailored to Revolut’s various subscription tiers, offering users a fresh way to rack up and spend rewards. It marks another ambitious step in Revolut’s rapid expansion beyond digital banking — a strategy that already includes trading, crypto, insurance, and soon, mortgages and private banking.

Cracking The Loyalty Game

Revolut introduced RevPoints last July, letting users earn points on debit card purchases. So far, points can be redeemed for gift cards from big names like Apple and Amazon, or converted 1:1 into airline miles. But with a new credit card in play, Revolut appears ready to scale that system into a full-fledged loyalty ecosystem.

The move brings Revolut into an arena long dominated by legacy players. American Express and Barclaycard rule the rewards space in the UK with established ecosystems like Amex points and Avios. Fintech disruption here has been slower than in other areas — Yonder, one of the few challengers, has just 30,000 users and focuses on perks with local businesses rather than flight deals.

Revolut’s global reach and brand recognition give it an edge in taking this challenge mainstream. The key question now: is how it will differentiate in a crowded, loyalty-heavy market.

What’s Next For The Superapp

The credit card is just one piece of a bigger puzzle. In January, Sifted revealed that Revolut is developing a premium private banking service aimed at high-net-worth individuals, complete with investment tools and personalized wealth advice. Also in the pipeline: an AI-powered money assistant and a mortgage offering, both expected to launch later this year.

With its reward card ambitions, Revolut isn’t just adding another product — it’s signaling a broader intention to rival traditional banks on every front, including where they’ve historically held the advantage: customer loyalty.

Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

by THEFUTURE.TEAM

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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