Revolut tops 10 million retail customers in the CEE region 

Revolut, the global financial super app, has surpassed 10 million retail customers in the CEE region, and is now processing over 138 million transactions a month, up by 67%, compared to the average number of transactions processed in the previous full 12 months. The rising number of virtual, disposable and physical cards issued in the region of 50 million cards (as of September 30, 2023) showcases Revolut’s contribution to the financial inclusion and the borderless economy.   The company also celebrates several local milestones – over 3 million customers in Romania, 3 million in Poland, 1 million retail customers in Hungary. The CEE region includes Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia, where millions of customers use Revolut as a primary account or a daily expenses one. From international transfers and foreign exchange transactions to current accounts, budget management and personalised cards or kids accounts, Revolut is the smartphone one-stop-shop for all-things-money.   Romania, with over 3 million clients and a customer base growth of 39% in the last 12 months, is the leader of the region and keeps the second position in the global ranking, after the UK. Poland also recorded a strong growth of 48%, heading to the 3 million customers threshold. Hungary (1 million retail customers), Bulgaria (670,000 retail customers) and Czechia (over 600,000 retail customers) complete the Top 5 markets.   “Revolut continues to strengthen its position as a leading digital bank in the region and a fast growing pan-european player in the industry. We are thankful for the trust shown by our customers and we are pleased to see the impact our digital banking offer has on the financial ecosystem in this region. Expanding our customer base in the CEE by 43% in one year is an important achievement for our team. We are looking forward to bringing our product to many more customers in the weeks and months ahead and to expand our banking presence in the region,” commented Joe Heneghan, CEO at Revolut Bank.    The increasing popularity of the digital bank in the region can be explained by the results of a recent representative survey conducted by Dynata on behalf of Revolut in this region. Almost half of the respondents prefer digital banks: 34% of the respondents in the region for its flexibility and 12% for a better control over their money. One third of respondents would prefer both: a bank that offers branches and a second bank account via smartphone. Only 12% still prefer a brick-and-mortar bank mainly due to the need to interact with a real person and ask for advice.   “Revolut has a mission: to unlock the power of a borderless economy, for everyone. This year we have made important steps in achieving this inclusive objective, with a strong growth of our customer base, reaching the threshold of 10 million customers in the region. According to our data, 40% of the consumers, in the CEE countries, would consider investments (stocks, crypto, ETFs, MMFs) as a form of saving and 16% have at least one savings account within a digital bank. We witness the rising confidence of the customers in digital banking and fintechs like Revolut and this encourages us to unlock even more financial products and functionalities for them,” said Wiktor Stopa, Head of Growth.   Launched in the UK in 2015, Revolut offered initially money transfer and exchange. Today, over 35 million of its retail customers around the world use dozens of innovative Revolut products including peer-to-peer payments, Saving Vaults and Flexible Accounts, Revolut   In the CEE region, 7 out of 10 physical card transactions made with Revolut, in the last 12 months, were done in the customers’ domestic markets, showing the intensive daily use of the digital bank as a principal account for ordinary expenses.   CEE markets highlights   Top 10 cities in the region, by retail customers base, includes: Bucharest (590,000), Warszawa (360,000), Budapest (356,000), Sofia (270,000), Vilnius (173,000), Krakow (165,000), Wroclaw (152,000), Riga (138,000), Prague (124,000), Zagreb (117,000)   Lithuania (465,000 retail customers), looking to build mortgage credit team, is the home for Revolut Bank Europe Romania (3+ million customers) ranks among top 3 banks by customer-base in the local market Poland (3 million customers) was the first one to launch Pay Later product (Buy Now Pay Later) and is the only country in the region to count 3 cities with more than 100,000 customers in top 10 cities In Hungary (1 million customers), Revolut is popular among the Budapest residents, representing 36% of the total customer base in this country Bulgaria (670,000 customers) recorded a growth rate superior to the regional one, of 47%, in the last 12 full months Czechia (600,000 customers) was the first country in the region to launch the Flexible Accounts earlier this year – a new and smart way for customers to get the most out of their savings in times of inflation. Czechs made over 27 million card payments using Revolut in the past 12 months, 55% more compared to the same period last year. Croatians (360,000 customers) made over 12 million card payments using Revolut in the past 12 months, 57% more compared to the same period last year. Two thirds of them being made locally suggests Revolut is being increasingly used as a day to day financial account in the country. Slovakia (204,000 customers) made almost 10 million Revolut card payments in the past 12 months, 71% more compared to the same period last year. Slovenia (116,000 customers) made almost 6 million Revolut card payments in the past 12 months, 67% more compared to the same period last year.   Revolut is operating in the CEE region (just like across EEA region) as a European bank, headquartered in Vilnius, Lithuania, with full banking licence from European Central Bank and under supervision of Bank of Lithuania.