Revolut makes record profit as wait for banking licence continues

Revolut made a record profit in 2023, as the UK fintech giant continues its long wait for a British banking licence. The company made a pre-tax profit of £438 million last year, up from a loss of £25 million in 2022, while revenue almost doubled to £1.8 billion. The London-based group has expanded aggressively in recent years, opening offices in new countries including Brazil and New Zealand in 2023. It added 12 million customers last year, taking the total to more than 45 million. The rate of expansion has seen...