Revolut auditor provides the banking app a clear invoice of well being

Audit: Revolut has struggled to get a UK banking licence

Revolut celebrated a clean bill of health from its auditor as its battle for a UK banking licence goes on.

The financial app’s UK chief executive Francesca Carlesi yesterday said the application is ‘progressing well’.

But she added that there was no timeline for when Revolut could get a licence.

More than a year ago, the company said regulatory approval was ‘imminent’ and that a licence would be granted ‘any day now’. 

Revolut also reported group revenue of £1.8billion and £439millio in profit.

It was the first time in three years that Revolut had published its annual report ahead of the deadline.

Getting its accounts in order has been seen as a crucial step on the path to getting a licence after applying to the Bank of England in 2021.