The UK banking app Revolut has said it could face a backlash over its support for energy-intensive sectors such as crypto and AI, as it posted a 57% increase in annual profits.

The fintech, which can now launch as a fully fledged UK bank after a five-year wait for regulatory approval, warned in its 2025 results that such activities posed a “reputational risk”.

Cryptocurrency mining, particularly for bitcoin, and AI datacentres demand large amounts of power, with competition for electricity supplies only getting steeper since the US-Israel war on Iran sent energy prices soaring over the past month.

Revolut, which offers crypto trading, wrote in its annual report: “Shifting attitudes towards energy-intensive activities, including…