Lisbon, March 24, 2026 (Lusa) – Digital bank Revolut ended the year with over 2 million customers in Portugal, a 35% year-on-year increase, a growth rate praised by the head of operations in the country, who said the company wanted to expand among businesses.
Although the main focus has primarily been on individual customers, the digital bank said it wanted to gain more ground with companies.
"We have been investing in this segment and want to grow," the manager told Lusa in an interview, noting a 41% rise in Portugal in 2025.
Revolut aims to grow from 2.3 million customers in Portugal in 2025 to 2.5 million this year.
He praised the positive results and highlighted the company's business diversity, though it does not disclose nominal data.
"Profitability rose. We moved from a 35% profit margin to 38%, which is very positive," he said, comparing it to a triangle where the company managed to "grow the business, sustain it and turn it into profitability."
Rúben Germano explained that the main products are subscriptions, including 'premium' plans, card payments, wealth management, where customers make investments, and foreign exchange.
He said these were the company's main levers and that, although none accounted for more than 23%, "all are growing strongly".
He also highlighted the impact of opening the branch in Portugal, the introduction of the Portuguese IBAN and joining systems such as Multibanco (interbank network) and MB Way (mobile payment service).
"It was a product where we had a gap because customers often could not pay their bills and daily payments," he noted, adding that there has been strong uptake among the customer base and, in general, customer transactions rose 82%.
As for the growth of savings and investment accounts, Rúben Germano said he believed immediate access savings, which "are almost like a term deposit, would be the growth lever for 2026".
Revolut is not looking to establish a physical presence in Portugal, for now.
"We have no goal in the near future of having a physical presence in Portugal. It is not our focus, and we feel, since we have reached 2.3 million customers in Portugal, that it has not been limiting our growth," he said.
Revolut has 1,300 employees in Portugal, who do not work exclusively for the Portuguese operation, supporting other geographies.
The digital bank recorded a record net profit of €1.5 billion last year, a 65% increase from €936 million in 2024, according to a report published on Tuesday.
The bank added 16 million new customers worldwide, bringing its total to 68.3 million at the end of 2025, a 30% increase.
According to information released on Tuesday, the target of reaching 100 million users by mid-2027 remains.
JO/LYT // ADB.
Lusa
