Revolut Clears Regulatory Hurdle for Banco Cetelem Acquisition in Argentina

The UK-based fintech secured clearance from Argentina's central bank to proceed with purchasing Banco Cetelem Argentina S.A. from BNP Paribas Personal Finance, the company announced Thursday.

The digital bank is currently establishing its local infrastructure in preparation for a future market entry. Once the deal closes, the acquired institution will be rebranded as Revolut Bank Argentina S.A.U.

More than 150,000 Argentine consumers have already joined the waitlist for the fintech's services, signalling robust market appetite ahead of the official launch.

The company also reports significant interest from potential commercial partners and prospective customers across the country. Subject to final regulatory sign-off, Agustin Danza will take the helm as CEO of the Argentine banking entity.

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.

The fintech holds full banking licenses in the United Kingdom, Mexico, Australia and the European Economic Area. It is actively pursuing regulatory approvals in the United States, the United Arab Emirates, Peru and South Africa.

The company aims to broaden its licensed banking presence throughout Latin America as part of its wider international expansion roadmap.

When the acquisition was first announced in June 2025, the company highlighted that while banking penetration runs high in Argentina, access to credit and other financial products remains constrained — presenting an opportunity for tailored offerings.

The fintech plans to roll out financial services designed specifically for local market conditions once the transaction completes.

The company launched full banking operations in Mexico in January, becoming the first independent digital bank to secure a license there via direct application rather than acquisition.

Co-founder and CEO Nik Storonsky described the Mexico rollout as a template for entering other high-growth markets, stating the firm is confident in replicating that model on its path to reaching over 100 million daily active customers in 100 countries.

The Mexican banking arm now serves more than 500,000 retail customers, demonstrating the fintech's ability to scale rapidly in new territories.