M&A
Revolut gets Central Bank of Argentina approval to acquire Banco Cetelem
September 29, 2026
Fintech
M&A
Key Facts
Signal Type
M&A
Industry
Fintech
Companies
Revolut, Banco Cetelem, BNP Paribas Personal Finance
Date
September 29, 2026
Revolut has received approval from the Central Bank of Argentina to acquire Banco Cetelem from BNP Paribas Personal Finance. After closing, the entity will be renamed Revolut Bank Argentina S.A.U. and operate as a regulated bank.
Revolut said it will not move straight to a customer launch. It will use the period after completion to meet regulatory and operational requirements, finalise its value proposition, and strengthen its local team and infrastructure.
Revolut is the direct protagonist, with more than 80 million customers across 40 markets and licensed banking operations in the UK, Mexico, Australia, and the EEA. The acquisition affects Argentine consumers on Revolut's waitlist — more than 150,000 people — and prospective commercial partners.
Banco Cetelem, currently owned by BNP Paribas Personal Finance, will become Revolut Bank Argentina S.A.U. The deal also affects competitors in Argentina's crowded banking and fintech market, where Revolut plans to differentiate with a single-app proposition combining banking, credit, international spending, wealth, rewards, and lifestyle benefits.
The acquisition extends Revolut's licensed banking footprint in Latin America. It follows the January 2026 launch of Revolut Bank in Mexico, its first fully licensed banking entity outside Europe, which has more than 500,000 retail customers.
The timing of a customer launch in Argentina will depend on how quickly Revolut meets remaining regulatory, capital, and operational requirements. SDRs should watch for hiring and infrastructure spending as Revolut builds out its local team.
Also watch whether Revolut converts its Argentine waitlist into active customers and how it positions its single-app proposition against established local banks and fintechs. Further Latin American licence progress will signal continued expansion.
Source:
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