Argentina’s central bank has authorised Revolut to purchase Banco Cetelem Argentina from BNP Paribas Personal Finance.
The regulatory decision permits the financial technology company to conclude the takeover.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Once the transaction closes, the acquired business will be rebranded as Revolut Bank Argentina.
It will hold a banking licence, though it will not provide commercial services or products to the public during its initial phase.
Agustin Danza is slated to become chief executive of the Argentine banking entity, subject to approval from the central bank.
Early activities will centre on satisfying regulatory conditions, establishing internal operations, and developing product offerings ahead of a wider commercial rollout.
Danza said: “This is an important milestone in our long-term commitment to Argentina. Receiving approval from the Central Bank brings us one step closer to establishing our banking operations in the country, as we continue building our local capabilities and preparing to bring Revolut’s global financial platform to Argentine customers.”
More than 150,000 individuals have registered on Revolut’s local waiting list since the firm announced its entry intentions.
Over the coming months, the group intends to continue building out domestic operations, with plans to provide everyday accounts, credit, foreign payments, investments, and loyalty features through a single application.
Revolut has established a local management team and board of directors, naming Juan Marotta as chairman. Marotta previously served as chief executive of HSBC Argentina and HSBC South America, as well as director at HSBC LATAM.
The transaction forms part of Revolut’s wider plan to secure licensed banking operations across Latin America, complementing its existing regional activities and regulatory processes.
The company expansion in 2026 has included banking licences in France, Colombia, Australia and the UK.
It recently introduced its bank in Mexico and said it is continuing regulatory work in Brazil, and Peru.
The company also said it received conditional approval from the US Office of the Comptroller of the Currency for a national bank charter in the US.
Besides, it secured a payments licence in the UAE, and has applied for banking licence in Finland and South Africa.
