Revolut has officially been authorized by the Bank of Portugal to open a local branch, giving its customers Portuguese IBANs starting with PT50. The first digits of these accounts are already defined: PT50 3560 xxxxxxxxxxxxx, with BIC/SWIFT REVOPTP2. All Portuguese users will be migrated to the new branch — Revolut Bank UAB – Sucursal em Portugal — which is fully registered under number 3560.
The move signals Revolut’s ambition to expand even further in the country. With 1.6 million users already, the company is targeting 2 million by 2025, aiming to become Portugal’s third-largest bank by customer base. It currently employs 1,300 people in Portugal and more than 10,000 worldwide.
Financially, Revolut is also on a strong path: profits soared to €934 million in 2024, more than doubling the €395 million reported the previous year.
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