Revolut receives Central Bank approval for the acquisition of Banco Cetelem in Argentina

Argentina is a strategic market for Revolut’s expansion in Latin America, with more than 150,000 consumers already on its waitlist, alongside strong interest from prospective customers and commercial partners.

Revolut, the global financial leader serving more than 80 million customers worldwide, announced that it has received approval from the Central Bank of Argentina for the acquisition of Banco Cetelem Argentina S.A. from BNP Paribas Personal Finance.

„The approval marks a significant regulatory milestone in Revolut’s long-term commitment to Argentina and enables the company to move forward with the completion of the transaction. Following completion of the transaction the name of the local bank will be changed to Revolut Bank Argentina S.A.U. and will operate as a regulated banking entity, although it will not initially offer public-facing products or services.” – the company said.

Upon closing, Agustin Danza will be appointed by Revolut Bank Argentina S.A.U. as its CEO, subject to standard regulatory approvals by the Central Bank of Argentina.

During this initial phase, the bank will focus on fulfilling all regulatory and operational requirements, while finalising its value proposition and preparing for a future market launch.

“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,” said Agustin Danza.

Argentina represents one of Revolut’s most promising growth opportunities in Latin America. Since announcing its plans to enter Argentina, more than 150,000 consumers have joined Revolut’s waitlist, demonstrating strong interest in the company’s proposition ahead of its planned market launch.

While Argentina offers consumers a wide range of banks and fintech providers, Revolut believes there remains an opportunity to differentiate through a broad, integrated financial proposition spanning everyday banking, credit, international spending, wealth, rewards and lifestyle benefits — all within a single app.

The company expects to continue building its local operations over the coming months, including strengthening its local team and infrastructure and fulfilling ongoing regulatory, capital and operational requirements ahead of a future customer launch. To support its long-term ambitions in Argentina, Revolut has also assembled an experienced local leadership team and Board of Directors, including Juan Marotta, former CEO of HSBC Argentina and HSBC South America, and former Director of HSBC LATAM as Chairman.

The acquisition of Banco Cetelem is part of Revolut’s broader strategy to expand its licensed banking footprint across Latin America, complementing its existing operations and regulatory progress across the region.

Revolut continues to scale its global footprint across 40 markets, operating as a fully licensed bank across the UK, Mexico, Australia and the EEA. The company recently launched Revolut Bank in Mexico, its first fully licensed banking entity outside Europe, which already serves more than 500,000 retail customers. Revolut is further accelerating its international growth following conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for its U.S. national bank charter, with remaining FDIC, Federal Reserve and final OCC approvals still underway ahead of its proposed 2027 launch. Additionally in 2026 the company has continued to progress licenses in the UAE, Peru and South Africa.