Revolut is acquiring the bank from BNP Paribas Personal Finance and is building its local operations in Argentina in preparation for a future launch, according to the release.
Upon completion of the transaction, Revolut will change the name of Banco Cetelem Argentina S.A. to Revolut Bank Argentina S.A.U., the release said.
Revolut has more than 150,000 Argentine consumers on its waitlist as well as strong interest from prospective customers and commercial partners in the country, per the release.
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Upon closing of the acquisition, Agustin Danza will be appointed by Revolut Bank Argentina S.A.U. as its CEO, subject to approval by the Central Bank of Argentina.
“This is an important milestone in our long-term commitment to Argentina,” Danza said of the approval announced Thursday. “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.”
Revolut operates as a fully licensed bank in the United Kingdom, Mexico, Australia and the European Economic Area; is working toward licenses in the United States, the United Arab Emirates, Peru and South Africa; and plans to expand its licensed banking footprint across Latin America, according to the release.
Revolut announced in June 2025 that it was acquiring Banco Cetelem and that it planned to offer financial services tailored to the local market in Argentina. The company said at the time in a press release that banking penetration is high in Argentina but access to financial products such as credit is limited.
Revolut launched its banking operations in Mexico in January, saying that it had become the first independent digital bank to receive a banking license in the country through a direct application.
Revolut Co-Founder and CEO Nik Storonsky said at the time in a press release: “This launch is a blueprint for expansion into other high-growth markets, and we are confident in replicating this success on our journey to reach over 100 million daily active customers in 100 countries.”
According to the Thursday press release, Revolut Bank in Mexico now serves more than 500,000 retail customers.
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