Revolut Wins Approval to Acquire Argentine Bank, Targets 2027 Launch

Revolut has secured approval from the Central Bank of Argentina to acquire Banco Cetelem from BNP Paribas Personal Finance, giving the fintech an existing regulated lender rather than a licence built from scratch. The transaction still has to close, and the acquired bank will not offer products or services to the public in the interim.

Once completed, Banco Cetelem will be renamed Revolut Bank Argentina S.A.U. Before opening to customers, the entity must meet outstanding capital, operational and regulatory requirements. Agustín Danza is expected to become chief executive, subject to the central bank's standard approval process, while Juan Marotta — a former CEO of HSBC Argentina and HSBC South America — is lined up to chair the local board.

"It's a major milestone on the path to Revolut's launch in Argentina," Danza told Bloomberg, adding that operating as a bank is when the company can deploy the full power of its value proposition.

Waitlist and 2027 launch plan

Revolut says more than 150,000 people have joined its Argentine waiting list since it announced plans to enter the country. The company has outlined a broad offering spanning everyday banking, credit, international spending, wealth products and rewards, but has not said which services will be available at launch. According to Danza, the commercial launch is planned for 2027.

The acquisition extends Revolut's expansion in what it calls one of its most promising growth opportunities. Argentina already has a deep digital payments base: BCRA statistics for the first half of 2025 put instant payments and transfers at 60% of transactions by number and 73% by value, with circulating cash accounting for only 6.2% by value. That maturity also brings entrenched competition from Mercado Pago, Ualá and Naranja X, and a population where nearly every adult already holds one or more bank or payment accounts.

Revolut launched a licensed bank in Mexico and recently obtained a banking licence in Colombia. It has received initial authorisation to establish a bank in Peru, where further operating approval is still needed. The company has not disclosed the purchase price, the capital planned for the Argentine bank, or the expected closing date.