Revolut’s chief financial officer, Mikko Salovaara, has resigned for “personal reasons” after just over two years at the neobank.

Salovaara is resigning two months after he said he expected the banking licence to be granted “in the very near term”.

“I am grateful for the opportunity to serve as Group CFO at Revolut and remain confident in the firm’s future success,” Salovaara said in a statement.

Revolut first applied for a UK banking licence in January 2021, and the delay in being granted one is a key roadblock in the way of the company’s growth.

Without a licence, Revolut can’t become a primary bank account for UK customers, or offer lending products like mortgages.

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