The British finance company Revolut, which has a banking license in Lithuania, has announced that it is establishing a two-base model with a new Paris office to handle operations in Western Europe. This was declared by the group on Monday.

The company says that Lithuania remains a “key base” for Revolut growth in Europe, adding that the new model will not affect the bank’s operations in Lithuania. The French entity will be meant to provide services to clients in several Western European countries.

The statement said that once Revolut has received a banking license in France, it will provide services there before opening new branches in Ireland, Germany, Portugal, Spain and Italy. Services to the other 24 countries of the European Economic Area will continue to be handled in Lithuania.

Revolut as already established branches of its bank in Lithuania, and the group plans more branches elsewhere in Europe over the next few months.

The bank expects more than 100 million customers worldwide over the course of the next few years. At this time it has more than 55 million clients, including 40 million in Europe alone.

The Revolut Group, which includes the Revolut Bank, earned a net profit of EUR 934 million last year, which was 2.4 times more than in 2023. Group revenues rose by 72% to EUR 3.7 billion.

Source: BNS

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