Revolut has received approval from the Central Bank of Argentina to acquire Banco Cetelem from BNP Paribas Personal Finance.
After closing the transaction, the entity will be renamed Revolut Bank Argentina S.A.U. and will operate as a regulated bank. The company added that at first it won’t offer public-facing products or services.
A phased route to market
Revolut does not plan to move straight to a customer launch. It will use the period after completion to meet regulatory and operational requirements and to finalise its value proposition for Argentina. Over the coming months, the company aims to strengthen its local team and infrastructure. It will also work through ongoing regulatory, capital, and operational obligations.
Buying an existing bank gives Revolut a licenced vehicle in the country, which it will operate under its own brand.
According to the company, more than 150,000 consumers have joined its Argentine waitlist since it announced plans to enter the country. It also reports interest from prospective commercial partners. Though Argentine consumers already have access to a wide range of banks and fintech providers, Revolut plans to differentiate with a single-app proposition that combines everyday banking, credit, international spending, wealth, rewards, and lifestyle benefits.
Latin American licencing strategy and global footprint
The acquisition is part of Revolut's broader strategy to expand its licenced banking footprint across Latin America. It complements the company's existing operations and regulatory progress in the region. In January 2026, Revolut launched Revolut Bank in Mexico, its first fully licenced banking entity outside Europe, which has more than 500,000 retail customers. In 2026, the company also advanced licence applications in Peru, the UAE, and South Africa.
Revolut reports more than 80 million customers across 40 markets. It operates as a fully licenced bank in the UK, Mexico, Australia, and the EEA. In the US, it has received conditional approval from the Office of the Comptroller of the Currency (OCC) for a national bank charter.
Taken together, the developments in Argentina, Mexico, and the US show Revolut pursuing full banking licences market by market as it expands beyond Europe. In Argentina, the timing of a customer launch will depend on how quickly the new entity meets its remaining regulatory, capital, and operational requirements.
