Revolut Group has unveiled its Annual Report for 2024, marking a year of impressive growth and global impact. With a remarkable €1.3 billion profit, Revolut continues its successful streak of financial achievements.
An Unprecedented Year for Revolut
Nik Storonsky, CEO of Revolut, described 2024 as transformational, with an eye-catching customer growth of around 15 million worldwide. This remarkable increase was accompanied by a deeper customer engagement, spanning a variety of services, both retail and business-focused.
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Financial Performance Highlights
Revolut’s revenue grew by 72%, totaling $4.0 billion (€3.7 billion). Noteworthy contributions came from:
- Card Payments which ascended by 43% to €820 million,
- Wealth management revenues skyrocketed by 298% to €598 million,
- Foreign exchange operations increased by 58% to €499 million.
Revolut’s gratifying profit before tax was €1.3 billion, and the net profit amplified to €934 million, showcasing their strategic excellence.
Expansion Marks & Customer Dynamics
The year witnessed the addition of 15 million new users, pushing Revolut’s customer base to 52.5 million. New milestones in customer engagement included:
- A 52% rise in transaction volumes, nearing €1.2 trillion,
- Retail activity surged with monthly active users growing by 42%,
- B2B banking showed notable progress, becoming a strong contender in the European market.
Investments and Innovations
Revolut’s 2024 efforts to enhance customer experience featured new products like Revolut Invest, rolling out robust lending solutions, and expanding essential services like Savings & Wealth enhancements. The introduction of Revolut X also marked a pivotal moment in the crypto space.
2025 and Beyond
Looking ahead, Revolut is planning ambitious bank launches, such as in Mexico and the UK, alongside evolving global market entries. With innovative offerings and a focus on customer-first strategies, they are setting their sights on achieving 100 million daily active users.
The full 2024 Annual Report is available at revolut.com/financial-statements.
