The results clearly show how CAB’s business has been transformed, strategically, operationally and financially and how our strategy is delivering sustainable growth.
Neeraj Kapur, Group CEO, commented:
These results mark a turning point. We have exceeded market expectations and delivered strong growth in revenue, volumes, client numbers and underlying profitability. We are seeing the benefits of the strategic realignment of the business that took place in the second half of 2024 and the first half of 2025. Our relationship-led approach is winning and growing clients.
“Our purpose is to deliver prosperity in the markets we serve. These are some of the world’s fastest-growing, hardest-to-reach economies, and they are playing an ever more important role in global commerce with greater demand for access to the international financial framework. We are investing in our network, our people, our products and our platform to ensure we deliver on that purpose. The Group enters 2026 with strong momentum and we are confident of delivering sustained, profitable growth. We expect to grow our top line significantly. This will improve operating leverage, drive compounding profits and meaningful capital generation.”
In the past year, we have opened new offices in New York City and Abu Dhabi connecting us more closely to our clients in Africa and LATAM.
In 2025, we focused on creating high quality value and the numbers speak for themselves:
- A 12% growth in Total Income to £119 million
- A 14% growth in Adjusted EBITDA to £35m
- Active client numbers increased to 592, up from 546 in 2024
- A 13% growth in Wholesale FX and Payment FX volumes to £41.9bn
- Our Adjusted EPS grew 9% YoY to 6.8p
In doing so, we have exceeded market expectations. We have built off that strong momentum as we enter 2026, giving us confidence to deliver strong and profitable growth in the future.
We are well positioned as a regulated business, and we still have further scalable investment underway.
Further information
Read the results in full here.
Watch the recording of the FY25 results presentation webcast here.
