Banking and payments app Revolut is considering launching mortgage products in the Irish market in the first half of 2025.
With the move, the fintech firm will aim to take on the traditional banks in the State, which accounted for 93 per cent of new mortgage lending in 2023.
“We are very keen to get mortgages launched next year in Ireland,” Joe Heneghan, chief executive of Revolut Europe, was quoted as saying by The Irish Times. “I would probably say the first half of next year is realistic. The market is attractive.”
Revolut serves over 2.7 million customers in Ireland.
The UK-based group posted a better-than-expected $428 million profit in 2023 as revenues jumped 95 per cent to $2.2 billion.