Revolut has achieved a remarkable milestone: it is now the largest bank in Lithuania by assets, just five years after securing its license there. According to the central bank, Revolut now commands 30.8% of the Lithuanian market, overtaking long-time leaders Swedbank (24.4%), SEB (19.6%), Luminor (10.5%) and the recently rebranded Artea (6.6%).
Licensed in Lithuania but serving 50 million customers across 30 EEA countries, Revolut has rapidly grown its local footprint with more than 650,000 Lithuanian clients. In 2024 alone, retail customers grew 24%, business clients 57%, and youth accounts 47%. This year, Revolut also entered the housing loan market, further cementing its presence alongside its full suite of digital banking, credit, investment, and savings products.
Tag: bank
Nubank CEO sells 33 million shares or 0.7% of the company
David Vélez, Nubank’s CEO and co-founder, just sold 33 million Class A shares (around 0.7% of the company’s total shares) through Rua California Ltd. He said it was for personal asset planning—about 3.5% of his stake.
Bunq – Dutch online bank – fined €2.6 million by Regulators for anti-money laundering controls
- Fine imposed: Bunq, the Dutch mobile-only bank, was slapped with a €2.6 million fine (about $3.04 million) by the Dutch central bank, De Nederlandsche Bank (DNB).
- Why: The regulator found serious flaws in Bunq’s anti–money laundering (AML) systems. Between January 2021 and May 2022, in four separate cases, Bunq failed to properly investigate and report suspicious financial activity.
- Repeat issue: These weren’t isolated mistakes—DNB noted that Bunq had a history of similar compliance lapses and hadn’t addressed them adequately, even after previous fines and warnings.
Bunq’s response
- Bunq disagrees with the ruling and has formally filed an objection.
- They emphasized that they take their “gatekeeper” role seriously and are using advanced tech to continuously improve their systems and compliance.
via Reuters.
NuBank vs Barclays – is NuBank Overvalued?
NuBank (Nu Holdings) is pushing the banking industry in Brazil, Mexico and Colombia.
I have been wanting to invest in NuBank for some time, but I have thought for the past year or so – that their market cap has become so large that they are simply just un-investable at these levels.
To prove this was the case I thought I would do a very simple side by side comparison with a legacy bank that is predominantly in key markets.
| Metric | Nu Holdings | Barclays |
|---|---|---|
| Assets Under Management | $10.2B | $2.3T |
| Number of Customers | 30M | 48M |
| Revenues | $1.2B | $25.4B |
| EBITDA | $-78M | $9.3B |
| Countries | 3 | 50 |
| Market Cap | $35 billion | $28 billion |
I know NuBank is in 3 emerging markets – with at least 200 million people in those countries that are currently unbanked. However, even if NuBank was able to have 100 million customers – expand their product lines and then start to really focus on other markets – do you think they can really grow to the AUM or sheer network size of Barclays?
Or is this a perfect short sell position?
What are Wise.com Interest Accounts?
Wise.com Interest Accounts are a new product that allows customers to earn interest on their USD, GBP, and EUR balances. There are no balance minimums or fees involved, and customers can still send, spend, or hold their money as they normally would.
Wise stores customer funds with program banks, which generates interest. The current variable annual yield on USD balances is 4.79%, GBP balances is 4.22%, and EUR balances is 2.83%.
To opt in to the Interest feature, customers simply need to open the Wise app or website and go to their existing USD, GBP, or EUR balance. They can then click on the “Interest” button to add the feature.
Wise.com Interest Accounts are a great way to earn a little extra on your money while still having the flexibility to use it as you need.