Revolut, Europe’s largest digital bank, is acquiring Argentina’s Banco Cetelem, a small local lender owned by BNP Paribas, amid its push to Latin America according to Bloomberg.
Revolut will secure Cetelem’s assets, which are worth just $6.4 million, and, more importantly, its banking license.
Argentina represents a potentially lucrative market for a digital challenger but Revolut will be taking on local fintech players such as Uala and Mercado Pago as well as European giants BBVA and Santander.
The deal still requires sign off from Argentina central bank, says Bloomberg, citing sources.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
