Revolut Bank’s Irish lending portfolio has crossed the €1 billion mark spread across roughly 300,000 facilities, a milestone that underscores how quickly the fintech has turned its Irish banking licence into a meaningful balance-sheet presence. The company now serves 3.4 million customers in Ireland against a global base of more than 80 million users.
Credit cards drive the expansion
The number of active credit cards in Ireland has more than doubled over the past year, pushing Revolut into the ranks of the country’s significant card issuers in a single cycle. The Irish book now ranks among the larger lending portfolios across the nine EEA markets where Revolut Bank offers credit, a notable concentration for a business that only received its European banking licence in 2021.
Deposits and investment balances follow
Customer deposits in Ireland have risen by more than two-thirds in the last twelve months to exceed €2 billion. Investment portfolios held by Irish users now total over €1.2 billion, with more than one in ten of the local customer base participating. The deposit growth suggests the lending expansion is being funded internally rather than through wholesale markets, a structural detail that matters for liquidity risk.
Management frames it as early innings
"Our credit book has grown steadily over the past four years, proving that Irish consumers are looking for more flexible and agile alternatives," said Rob Mooney, Head of Lending - Ireland at Revolut Bank. "We're excited by the fact that there is still room to grow; we've already firmly established ourselves as a significant credit provider here, evidenced by our growing loan book and market share for new credit cards." The statement is a claim, not a verified market-share figure; the source does not disclose the undisturbed price, premium, or any break-fee equivalent for the lending facilities.
What to watch next
The portfolio’s credit quality has not been disclosed, nor has the split between secured and unsecured exposure. With deposits growing faster than the loan book, the loan-to-deposit ratio in Ireland is likely still comfortable, but the pace of card issuance warrants monitoring for any deterioration in underwriting standards. The next regulatory return will show whether the €1 billion threshold brings additional supervisory scrutiny.