Finance
UK Fintech Revolut’s Revenue Almost Doubles to £1.8 Billion
- UK fintech’s interest income jumps sixfold to £500 million
- Auditor BDO gives financial accounts a clean bill of health
Revolut said interest income climbed to £500 million last year from £83 million in 2022.
Source: RevolutThis article is for subscribers only.
Revolut Ltd. said revenue for 2023 almost doubled to £1.8 billion ($2.2 billion), as the UK challenger bank unveiled its latest annual accounts that got a clean bill of health from its auditor.
The London-based fintech said interest income climbed to £500 million last year from £83 million in 2022, according to a statement on Tuesday. That was offset, though, by a surge in credit losses tied to both lending and non-lending products, which ultimately crimped profits.