Revolut wins Argentine central bank nod to acquire Banco Cetelem
What's the deal? Revolut has secured approval from the Central Bank of Argentina to acquire Banco Cetelem ArgentinaDealroom has a profile for this one. Try Dealroom → from BNP Paribas Personal FinanceDealroom has a profile for this one. Try Dealroom →. The undisclosed deal, first announced in June 2025, clears a key hurdle in the fintech's plan to launch banking operations in the country.
What's the endgame? Upon completion, Revolut will rename the lender Revolut Bank Argentina S.A.U.Dealroom has a profile for this one. Try Dealroom → and use it as the foundation for local operations. The company says more than 150,000 Argentine consumers are already on its waitlist.
Why now? Revolut argues Argentina is ripe for disruption: banking penetration is high, but access to products such as credit remains limited. "This is an important milestone in our long-term commitment to Argentina," said Agustín Danza, who will lead the local entity.
The new hire. Danza is set to be appointed chief executive officer of Revolut Bank Argentina S.A.U. upon closing, subject to central bank approval. His remit is to build local capabilities and ready the platform for Argentine customers.
The expansion. Argentina is the latest step in Revolut's Latin American push. It launched in Mexico in January as, it says, the first independent digital bank to win a license there through a direct application; that unit now serves more than 500,000 retail customers.
Revolut operates as a fully licensed bank in the UK, Mexico, Australia, and the European Economic Area. It is pursuing licenses in the US, the United Arab Emirates, Peru, and South Africa, and plans to widen its licensed footprint across Latin America.
The signal: Co-founder and chief executive officer Nik Storonsky has called the Mexico launch "a blueprint for expansion into other high-growth markets." With Argentina next, Revolut is testing whether that playbook scales toward its stated goal of 100 million daily active customers in 100 countries.
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