Revolut Secures Argentina Banking Approval Ahead of Planned 2027 Launch
The UK fintech can now complete the transaction and prepare a 2027 launch with a single-app banking and wealth offering.
- Revolut Ltd. received approval from the Central Bank to acquire Banco Cetelem Argentina, clearing a key regulatory hurdle for the British fintech to begin offering banking services in the country.
- Latin America stands out as a key growth market for digital banking, with Revolut Argentina Chief Executive Officer Agustín Danza calling the region one of its "most promising growth opportunities."
- More than 150,000 consumers have joined the waitlist ahead of launch, while the company faces competition from established local players including Mercado Pago and Naranja in the digital-payments market.
- Following the transaction, Banco Cetelem will be renamed Revolut Bank Argentina SAU, with Danza noting the firm will focus on regulatory requirements ahead of a planned commercial launch in 2027.
- This expansion aligns with Revolut's broader strategy outside Europe, where it already operates as a bank in Mexico and Colombia to establish a global financial footprint.
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Revolut secures Argentina banking approval ahead of planned 2027 launch
Credit: bne IntelliNewsUK-based digital banking group Revolut has received approval from Argentina’s central bank to acquire Banco Cetelem Argentina from BNP Paribas Personal Finance, clearing a key regulatory hurdle as the fintech prepares to launch operations.
Revolut Receives Approval From the Central Bank for the Acquisition of the Cetelem Bank in Argentina
The acquisition of Cetelem Bank integrates the broader strategy of the Revolution to expand its licensed banking presence in Latin America, complementing existing operations and regulatory progress in the region.
Fintech company Revolut has received approval from Argentina’s central bank to acquire Banco Cetelem Argentina S.A. from BNP Paribas Personal Finance, the company said on Thursday, continuing its expansion in Latin America. Fintech competition will also be discussed at the Portfolio Banking Technology conference on November 10. Register and get details here!
The British entity obtained the official approval of the BCRA to acquire Banco Cetelem, from the group BNP Paribas.It will operate as Revolution Bank Argentina with Agustín Danza as CEO and with a former HSBC as president
Revolut bought the Cetelem bank from BNP Paribas to join the Argentine financial system, as part of its regional strategy
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jujuyaldia.com.arThe largest European digital bank prepares its launch in the Argentine market; claims to have 150,000 customers on waiting list in the country
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