Revolut clears Argentine central bank hurdle to acquire Banco Cetelem
Revolut has obtained approval from Argentina’s central bank to purchase Banco Cetelem Argentina, paving the way for a licensed bank launch in 2027.
Argentina’s central bank has authorized Revolut to acquire Banco Cetelem Argentina, a move that clears a major regulatory obstacle for the digital banking group’s planned entry. The purchase, from BNP Paribas Personal Finance, will result in the formation of Revolut Bank Argentina S.A.U., which will initially concentrate on satisfying capital, technology and compliance standards rather than serving customers. Agustín Danza, head of Revolut Argentina, described the approval as a key milestone toward launching a full-service bank by 2027.
The company already has a waiting list of more than 150,000 prospective users and is courting commercial partners. Former Mercado Pago executive Danza is set to lead the new bank, while former HSBC Argentina chief Juan Marotta will chair its board.
Why it matters
The approval gives Revolut a foothold in Argentina’s banking sector, expanding fintech competition and offering new services to millions of users.
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