Revolut has secured approval from the Central Bank of Argentina to acquire Banco Cetelem Argentina S.A. from BNP Paribas Personal Finance. The decision represents a significant regulatory milestone in the company's plan to establish a licensed banking presence in Argentina. Once the acquisition is completed, the local entity will be renamed Revolut Bank Argentina S.A.U. and will prioritize meeting operational and regulatory requirements before any public launch.
Regulatory Milestone and Transaction Scope
The approval allows Revolut to move forward with the completion of the transaction and the formal transfer of control from BNP Paribas Personal Finance. During the initial phase, the new bank will not offer public-facing products or services. Instead, it will focus on fulfilling all regulatory and operational obligations while finalising its value proposition and preparing for a future market launch.
Leadership and Local Market Preparation
Upon closing, Agustin Danza will be appointed as Chief Executive Officer of Revolut Bank Argentina S.A.U., subject to standard regulatory approvals from the Central Bank of Argentina. Danza said the approval brings Revolut one step closer to establishing its banking operations in the country. He described the milestone as part of a long-term commitment to Argentina and an opportunity to build the company's local capabilities.
Revolut is strengthening its local leadership and infrastructure ahead of a future customer launch. The company has assembled an experienced board of directors, with Juan Marotta, former CEO of HSBC Argentina and HSBC South America, serving as Chairman. It continues to invest in local operations, including hiring talent and meeting capital and regulatory requirements.
Consumer Interest and Competitive Position
More than 150,000 consumers have joined Revolut's waitlist since the company announced its plans to enter Argentina. Revolut considers Argentina one of its most promising growth opportunities in Latin America. Although the market includes a wide range of banks and fintech providers, the company sees an opening for a broad, integrated financial proposition spanning everyday banking, credit, international spending, wealth, rewards and lifestyle benefits in a single app.
Regional and Global Expansion
The acquisition of Banco Cetelem is part of Revolut's broader strategy to expand its licensed banking footprint across Latin America. The move complements the company's existing operations and its wider regulatory progress in the region. By establishing a local banking entity, Revolut aims to build a sustainable foundation for serving customers in Argentina and other key Latin American markets over the long term.
Globally, Revolut operates as a fully licensed bank in the United Kingdom, Mexico, Australia and the European Economic Area. Its Mexican bank, the first fully licensed entity outside Europe, already serves more than 500,000 retail customers. Revolut is also advancing regulatory licences in the United Arab Emirates, Peru and South Africa, and it continues to work on remaining approvals for a proposed United States bank launch.
The regulatory approval positions Revolut to complete the acquisition and prepare its Argentine banking operations for a future public launch. The company will continue to strengthen its local team, board, and infrastructure while meeting all necessary capital and regulatory requirements. Strong waitlist demand and a clear regional strategy suggest that Revolut's entry into Argentina could become an important driver of its next phase of international growth.