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Revolut vows to invest £3bn in UK as it hunts banking licence
Yahoo Finance· 2025-09-23 13:43
Company Overview - Revolut has pledged to invest £3 billion in the UK and create 1,000 jobs over the next five years as part of its efforts to secure a full banking license [2][5] - The company was granted a provisional banking license last year, which limits its ability to offer key lending products and hold larger customer deposits [3][8] Investment and Economic Impact - The investment is aimed at fully capitalizing its UK bank, which is crucial for Revolut's growth strategy [2][3] - The UK market is significant for Revolut, with 11 million customers, making it the company's number one priority to transition them into the UK bank [5] Political Context - The status of Revolut's banking license has become a political issue, with claims that Rachel Reeves has sought to intervene on the company's behalf [3][4] - The UK government has highlighted that it has secured over £110 billion in investments from financial services giants, indicating a positive investment climate [7]