Revolut: local branch and Hungarian leader on the horizon

Dynamic growth, strong Hungarian presence

The digital financial service provider already has two million Hungarian customers, which represents a 33% increase in one year. The growth is mainly driven by organic expansion and word of mouth: two-thirds of users joined through recommendations from friends.

The proportion of transactions in Hungary has also changed: while Revolut was previously typically used for foreign purchases, today more than three-quarters of the turnover takes place domestically.

Investment-oriented market

The company has been profitable for four consecutive years, and according to Lukash, Hungary has become one of the key markets in the region, where the activity is particularly profitable. When introducing new products, they adapt to the specificities of the Hungarian customer base: while credit products are popular in other countries, here users are more attracted by savings and investment opportunities.

A good example of this is the introduction of ETF products last year: the number of Hungarian customers investing through Revolut increased by 97% in one year.