Revolut rejects Banco CTT acquisition due to platform incompatibility

Revolut Executive President for Western Europe Béatrice Cossa-Dumurgier has rejected interest in acquiring Banco CTT, citing a lack of synergies between the entities. The decision was made during an interview with Lusa on November 15, 2026, on the sidelines of the Web Summit.

The rejection comes as the CTT Board of Directors is actively seeking to sell a controlling stake in Banco CTT. This sale process, which was announced in early November 2026, has no set timeframe for completion. While the CTT Board of Directors moves forward with the sale, Revolut has indicated that an acquisition would not align with its current business model.

Platform incompatibility and synergies

Béatrice Cossa-Dumurgier stated that acquiring another bank makes no sense because it would not create synergies and would conflict with the unique platform used by the company. The executive emphasized that the competitive advantage of Revolut is based on the singularity of its platform.

The company, which was founded in 2015, currently serves 80 million customers through its product and technology platform. Maintaining the integrity of this technological infrastructure is a central priority for the firm as it continues to expand its global footprint.

Operating cost advantages

Revolut maintains a significant cost advantage compared to other financial institutions. The company's operating costs are one order of magnitude lower than those of digital competitors. Furthermore, Revolut's operating costs are several orders of magnitude lower than those of traditional banks.

This efficiency is a core component of the business model that has allowed the company to scale to 80 million customers. The technological nature of the platform allows for a leaner cost structure than the legacy systems utilized by traditional banking institutions.

European expansion strategy

The company is focused on maintaining a balanced structure across Europe. This strategy involves establishing centers in both Western Europe and Continental Europe. This geographic distribution is intended to allow for local product development within different regions.

By maintaining these specialized centers, the company aims to tailor its digital products to specific regional needs while preserving the core technological platform that defines its market position. The current refusal to acquire Banco CTT suggests that Revolut prefers organic growth or targeted technological integration over the acquisition of traditional banking infrastructures.