Revolut Secures Approval to Acquire Banco Cetelem Argentina

Revolut has received approval from Argentina’s Central Bank to acquire Banco Cetelem Argentina from BNP Paribas Personal Finance, clearing a key regulatory step toward launching its banking operations in the country.

The deal, whose financial terms have not been disclosed, was first announced in June 2025. Once completed, the lender will be renamed Revolut Bank Argentina S.A.U., providing the foundation for the fintech’s local operations. More than 150,000 Argentine consumers are already on Revolut’s waitlist.

Revolut prepares to launch banking operations in Argentina

The acquisition is expected to give Revolut a local banking structure from which to develop its offering for Argentine customers.

The company has identified Argentina as a market with significant room for financial services disruption. While banking penetration is high, access to products such as credit remains limited.

“This is an important milestone in our long-term commitment to Argentina,” said Agustín Danza, who will lead the local entity.

Subject to approval from the Central Bank, Danza is expected to become chief executive officer of Revolut Bank Argentina S.A.U. once the transaction closes. His responsibilities will include building the company’s local capabilities and preparing the platform for customers in Argentina.

Argentina becomes the latest step in Revolut’s Latin American expansion

The move into Argentina follows Revolut’s expansion in Latin America, including its launch in Mexico in January.

In Mexico, Revolut says it became the first independent digital bank to obtain a license through a direct application. The Mexican operation now serves more than 500,000 retail customers.

Argentina therefore represents another step in the company’s efforts to expand its licensed banking presence across the region.

Revolut continues to expand its licensed footprint

Revolut currently operates as a fully licensed bank in the United Kingdom, Mexico, Australia and the European Economic Area.

The fintech is also pursuing banking licenses in the United States, United Arab Emirates, Peru and South Africa, while planning to expand its licensed footprint across Latin America.

The company’s international strategy has been closely linked to its efforts to replicate the approach used in Mexico across other high-growth markets.

A broader international expansion strategy

Revolut co-founder and chief executive officer Nik Storonsky has described the company’s Mexico launch as “a blueprint for expansion into other high-growth markets.”

With Argentina becoming the latest market in this expansion, Revolut is continuing to test the scalability of that approach as it works toward its stated goal of reaching 100 million daily active customers in 100 countries.

The completion of the Banco Cetelem Argentina acquisition and the subsequent launch of Revolut Bank Argentina S.A.U. will mark the next stage of that strategy in Latin America.