Revolut warns it risks backlash over support for energy-intensive AI and crypto

5 hours ago

Revolut reports a 57% increase in profits for last year, with pre-tax profits reaching £1.7bn.
The fintech warns of 'reputational risks' due to its support for energy-intensive sectors like crypto and AI.
Revolut now operates as a fully-fledged UK bank after receiving regulatory approval.
The company added 16 million individual customers, bringing the total to 68.3 million, with 13 million in the UK.
Business customers grew by a third to 767,000, with a goal of reaching 100 million customers globally by mid-next year.
Revolut applied for a US banking license and operates as a licensed bank in over 30 of its 40 markets.
The company is rolling out current accounts in the UK and plans to expand its banking services, including lending and mortgages.
CEO Nik Storonsky highlights Revolut's rapid expansion and profitability, calling it a 'landmark year'.
Revolut acknowledges risks from shifting attitudes toward energy-intensive activities but believes its digital-first approach may insulate it from negative impacts.
The company, valued at $75bn last year, is expanding into new financial products, including mortgage refinancing in Lithuania.
Revolut uses an internal 'Karma' system to track staff behavior, influencing bonus payouts, and has reviewed the system for clarity and standardization.

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