Banking and financial technology company Revolut released financial results for 2024 on Thursday.
Revenues for the group were up across the board, with total income for the year hitting £3.1bn – up 72% on 2023.
Net income also rose to £790m, a 130% year-on-year increase.
Sales numbers were driven by company-wide growth, with Revolut seeing increases to business segments like card payments, interest income, and B2B accounts.
However, most striking was the huge uplift in revenues in what the company calls its ‘Wealth’ division.
This is effectively the company’s brokerage and investments offering. Trading in commodities, equities, and crypto is all captured under this part of the company’s accounts.
In 2023, Revolut saw revenues of £127.1m from its Wealth offering.
Last year that surged four-fold to £506.3m.
Revolut attributed that growth to an upsurge in crypto trading and the launch of its own crypto exchange, Revolut X.
This is not the first time the company has benefited from a boom in crypto trading.
Back in 2021, the company was able to post its first profitable year after the pandemic-driven trading frenzy impacted crypto markets.
