Revolut just posted €1.5b profit and it's only getting started

The numbers Revolut dropped this Tuesday are the kind that make traditional bank CEOs quietly close their office doors. €1.5 billion in net profit. €5.3 billion in total revenue. A pre-tax margin of 38%. And a customer base that swelled by 16 million new users in a single year, bringing the global total to 68.3 million. This is not a fintech scrapping for legitimacy anymore. This is a bank — and a formidably profitable one.

What the raw numbers actually mean

Net profit up 65% year-over-year. Pre-tax earnings up 57%, hitting €2 billion. Total customer balances climbed 66% to reach €57.5 billion. Transaction volumes surged 65%. At some point, the word