The European Central Bank (ECB) has approved the cross-border reorganisation of Revolut Bank UAB, the Lithuania-based banking entity of Revolut. The decision allows the company to transfer part of the entity’s assets and liabilities to Revolut Bank S.A., its newly licensed French entity, as it formalises a dual-hub model for its European business.
According to the announcement, the Legal and Licensing Department of the Bank of Lithuania subsequently submitted a notice to Lithuania’s Centre of Registers on 6 November 2026. The restructuring is expected to be completed between 2 and 5 December 2026.
How the dual-hub model will operate
Revolut Bank S.A. received its full French banking licence in early August 2026, following an assessment by the French prudential supervisor ACPR and the ECB. The French entity is set to serve customers in France first, before progressively taking on customers in Germany, Ireland, Italy, Portugal, and Spain. Revolut Bank UAB will continue to serve customers across the rest of the European Economic Area (EEA).
The reorganisation marks the operational stage of the dual-hub structure that Revolut announced previously. The company told BNS that the transfer forms part of the customer migration that followed the award of the French licence, with preparations beginning once the licence was granted. According to Revolut, its plans to expand and launch new services in Lithuania and the wider region remain unchanged, and the process will affect neither employees working in Lithuania nor customers.
French customers will be the first to migrate. Their IBANs, app access, and day-to-day services will remain the same. The main change concerns deposit protection: eligible deposits will move from the Lithuanian deposit guarantee scheme to the French FGDR, with coverage still capped at EUR 100.000. Furthermore, the level of protection therefore stays the same, while responsibility for it shifts to the French scheme.
Regulatory and strategic implications
The restructuring addresses both growth and regulatory positioning. Revolut has said the two-entity structure will allow it to tailor products more closely to local markets and deepen relationships in its key European growth regions, while Lithuania remains a core growth hub for the rest of the EEA.
Both entities will remain supervised by their respective national authorities and the ECB. Once the migration is complete, customers in the six named Western European markets will be served by a bank licensed in France rather than by the Lithuanian entity, which has until now served as the company’s base across the EEA. The model allows Revolut to manage its European footprint through two licensed hubs, each with a distinct geographic remit, while keeping both under ECB oversight.
