US EditionRevolut to Acquire BNP Paribas-Owned Argentine Lender in Market Expansion
- Revolut announced on June 26, 2025, that it will acquire Argentina's Banco Cetelem, a small BNP Paribas-owned lender, to expand in South America.
- This acquisition follows economic reforms by Argentina's government under President Javier Milei, including easing currency controls and opening the financial sector to foreign firms.
- By acquiring Banco Cetelem, which holds approximately $6.4 million in assets and a local banking license, Revolut gains the ability to promptly provide Argentine customers with customized financial services, including savings accounts, credit options, and investment opportunities.
- Revolut, a fintech valued at $45 billion with a global user base of 60 million, plans to capitalize on Argentina’s private sector credit expansion of 53% in 2023—the fastest growth the country has seen in over three decades.
- The deal positions Revolut to compete with local fintech and traditional banks, marking its first South American banking entry and signaling confidence in Argentina's evolving financial market.
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Revolut Buys Small Argentine Bank as Country Opens Up to New Financial Players
Revolut, Europe’s biggest digital bank, is buying Banco Cetelem, one of Argentina’s smallest banks. Cetelem has only $6.4 million in assets, but this deal gives Revolut a full banking license in Argentina. This is Revolut’s first step into South America. Argentina’s government, led by President Javier Milei, has recently made big changes to the economy. […]
·Brazil
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It is the British Revolut group, which stayed with Cetelem and seeks the approval of the Central Bank
·Buenos Aires, Argentina
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Leaning Left2Leaning Right4Center2Last UpdatedBias Distribution50% Right
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- 50% of the sources lean Right
50% Right
L 25%
C 25%
R 50%
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