“The goal [of opening the branch] remains, it is the goal for this year,” he said, admitting that this project, which he announced last year, was delayed a little, but that he is already working with the central team at Revolut to move forward in 2025. “We want to launch a deposit account with the Portuguese IBAN associated with our account. It is one of the focuses after the branch was launched”, he highlighted. Revolut currently operates with a Lithuanian IBAN.

Revolut wants to be the “customer’s main account”, highlighted Rúben Germano, pointing out salary domiciliation and direct debits as services to be provided with the account with national IBAN, an expansion of the activity of the financial application.

In the future, the entity intends to move into segments such as real estate credit, a service that will begin in Lithuania and may later expand to Ireland.

The person in charge explained that the objective is to start this strategy in more mature markets and then expand to other countries, including Portugal.

Revolut has, however, launched personal credit and still wants to invest in credit cards this year, he revealed.

As for operations, Revolut acquired half a million customers in one year and now has 1.6 million in Portugal. For this year, Rúben Germano indicated, the goal is to reach two million users.

The company currently has 1,300 employees in Portugal and continues to grow in hiring. Globally, it accounts for around 10 thousand workers, he indicated. “The Portuguese market is very attractive in terms of skills”, explained the person in charge.

Rúben Germano also pointed out the growing competition in the world of ‘fintech’, that is, financial technology, in Portugal. “This is good for all of us. We are faster and more demanding with ourselves, faster for the market and faster for the consumer, who normally tries to lower prices”, he highlighted.

“We are increasingly entering the traditional banking market and that is our objective,” he said, noting that Revolut wants to be “the customer’s main bank” and “direct competition to traditional banks.” Still, the company does not want to open branches, but is testing ATM machines in Spain, he said. At the same time, it installed automatic card vending machines, with three operating at Porto airport, according to Rúben Germano.