FILE PHOTO: Woman holds smartphone with the Revolut app in front of a displayed Revolut logo in this illustration taken February 4, 2020. REUTERS/Dado Ruvic/Illustration
LONDON (Reuters) - Digital banking app Revolut said its annual losses doubled to just over 200 million pounds ($278 million) as administrative costs rose from investment in risk, compliance and controls.
Administrative costs increased from 125 million pounds in 2019 to 266 million pounds in 2020, Revolut said, outpacing growth in revenues as it expands into new markets.
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