ECB Approves Partial Transfer of Revolut’s Lithuanian Operations to New French Entity

Fintech giant Revolut is moving forward with a major restructuring of its European banking operations after securing official regulatory approval from the European Central Bank. The green light, granted following an application process that has steadily unfolded over the past several months, allows the digital banking leader to transfer a portion of its established Lithuanian banking entity over to a newly created French institution based in Paris.

According to reports from Baltic news outlets including LRT, the European Central Bank gave its formal approval for the transfer on October 22. The development marks a significant operational milestone for Revolut as it decentralizes parts of its European footprint to better serve its rapidly expanding customer base across different continental markets.

Following the ECB’s decision, administrative steps moved quickly. A formal notice concerning the reorganization was filed with the Bank of Lithuania, laying the groundwork for the structural shift. Subsequently, official documentation was filed with Lithuania’s national Centre of Registers on November 6, confirming the timeline for the transition. Current projections indicate that the cross-border asset and liability transfer will formally close over a multi-day window between December 2 and December 5.

Reorganizing Assets and Liabilities Between Paris and Vilnius

Under the approved plans, specific assets and liabilities currently managed by Revolut Bank UAB will be successfully transitioned to Revolut Bank S.A., which operates out of Paris, France. This reorganization operationalizes a strategy first articulated by the fintech group in May 2025, when leadership formally designated Paris as the designated head office for Western Europe while maintaining a cornerstone presence in Lithuania.

Revolut Bank S.A. officially received its specialized banking licence in early August, clearing the path for it to begin onboarding and servicing clients in several key Western European markets. Once the asset and liability transfer is complete in early December, the newly empowered French entity is expected to take over operations for Revolut customers residing in France, Germany, Ireland, Italy, Portugal, and Spain.

Meanwhile, Revolut Bank UAB—which has operated under its Lithuanian banking licence since 2021—will not disappear or scale back its overarching responsibilities. Instead, it will continue to serve its existing and new clients across the remainder of the European Economic Area (EEA). By dividing responsibilities between the Vilnius-based entity and the Paris-based bank, Revolut aims to optimize regulatory compliance and streamline customer service across diverse jurisdictions.

Ensuring Continuity for Clients and Staff

The corporate restructuring has naturally raised questions regarding potential impacts on day-to-day operations, local employment, and customer accounts. However, leadership has sought to reassure stakeholders that the transition has been designed to be as seamless as possible.

The group informed the Baltic news agency BNS that planning for the migration of specific customer segments began immediately after the French banking licence was successfully secured in August. Company representatives emphasized that the organizational shift will not negatively impact personnel stationed in Lithuania, nor will it disrupt services for account holders. Furthermore, the company affirmed that its broader strategic objectives, including long-term plans to foster growth and introduce innovative financial services within Lithuania and the wider Baltic region, remain entirely unchanged.

When Revolut initially unveiled its blueprint for a Western European hub in Paris back in May 2025, executives stressed that the French capital would serve as a focal point for regional expansion. At the same time, the company underscored that Lithuania would retain its foundational role as a primary hub for corporate growth and technological development throughout Europe. The latest approvals from the European Central Bank and the Bank of Lithuania validate that dual-hub approach, cementing a cooperative framework between regulators in Vilnius and Paris as Revolut continues to scale its digital banking services across the European continent.