Revolut Warns of Potential Backlash Over Support for Energy-Intensive AI and Crypto Sectors
The UK-based fintech giant Revolut has issued a stark warning about potential reputational backlash due to its support for energy-intensive sectors such as artificial intelligence and cryptocurrency. This caution comes as the company celebrates a landmark year, posting a staggering 57% increase in profits for 2025, reaching £1.7 billion in pre-tax earnings.
Record Financial Performance and Customer Growth
Revolut's financial results reveal a robust performance, with revenues climbing 46% to £4.5 billion. The company added an impressive 16 million individual customers over the past year, bringing its global total to 68.3 million. This includes 13 million customers in the UK alone, while business customers grew by a third to 767,000. Revolut has set an ambitious target to reach 100 million customers worldwide by the middle of next year.
Regulatory Milestones and Global Expansion
After a five-year wait, Revolut has finally received regulatory approval to operate as a fully fledged UK bank. The company has also applied for a banking licence in the United States this month, marking a significant step in its global expansion strategy. Revolut now operates as a licensed bank in more than 30 of its 40 markets worldwide, solidifying its position as a truly international financial institution.
The company has begun rolling out current accounts to a select group of new UK customers, with plans to gradually expand this offering. In Europe, Revolut reports that one in five working-age adults now uses its services, demonstrating its widespread adoption across the continent.
Energy-Intensive Activities Pose Reputational Risks
In its 2025 annual report, Revolut explicitly warned that shifting public attitudes toward energy-intensive activities could present significant reputational risks. The company highlighted concerns about artificial intelligence, metals mining, and the carbon footprint of high-profile cryptocurrencies like bitcoin.
Cryptocurrency mining and AI datacentres are particularly energy-demanding sectors, with competition for electricity supplies intensifying since energy prices soared following recent geopolitical tensions. Revolut offers crypto trading services, making it directly exposed to these environmental concerns.
Leadership Perspective and Future Vision
Chief Executive Nik Storonsky, who founded Revolut in 2015, described the past year as "another landmark year" for the company. "As we transition into a truly global bank, we are proving that our technology-driven operating model continues to drive rapid expansion and record profitability," Storonsky stated. "A decade into this journey, we have only just begun to show what is possible."
Climate Resilience and Digital-First Approach
Despite the warnings about energy-intensive sectors, Revolut expressed confidence in its ability to navigate climate-related challenges. The company believes its digital-first approach and emphasis on financial inclusion could position it to be "relatively insulated and even benefit from an orderly energy transition, relative to traditional financial institutions."
Revolut acknowledged that "climate-related transition and systemic risks may still impact financial and operational resilience" but maintains that its innovative model provides advantages in adapting to changing environmental expectations.
Future Banking Services and Internal Systems
Valued at $75 billion (£55 billion) following a fundraising round last year, Revolut plans to expand its banking services to include lending products and other traditional banking offerings. The company entered the home loan market by launching mortgage refinancing in Lithuania last May, signaling its move into more comprehensive financial services.
Internally, Revolut has been refining its staff evaluation systems. The company's "Karma" system, which tracks employee behavior and influences bonus payouts, has undergone review to increase standardization and improve transparency regarding how points affect variable remuneration.
As Revolut continues its global expansion while navigating the complex landscape of environmental concerns and regulatory requirements, the fintech giant faces both unprecedented opportunities and significant challenges in maintaining its rapid growth trajectory while addressing sustainability concerns.
