Argentina’s central bank approved Revolut’s acquisition of Banco Cetelem Argentina from BNP Paribas Personal Finance. The decision allows the transaction to proceed towards completion, although the deal has yet to close. Revolut plans to rename the lender Revolut Bank Argentina S.A.U. after completion. The purchase price was not disclosed.
Agustín Danza, Revolut’s chief executive in Argentina, said the approval brought the company one step closer to establishing its banking operations in the country. More than 150,000 people had joined its local waitlist, according to the company. Revolut has not announced a specific public launch date. Banco Cetelem will remain a regulated Argentine bank through the transition.
APPROVAL CLEARS COMPLETION PATH
The transaction gives Revolut a licensed local platform instead of requiring the company to build a bank from scratch. Its proposed local chief executive, Agustín Danza, still requires separate standard approval from the Banco Central de la República Argentina. Juan Marotta, a former head of HSBC Argentina, is to chair the local board, also subject to standard central bank approval. Those governance steps sit alongside the remaining legal and operational work before launch.
The transaction does not include Banco Cetelem’s existing customer base. BNP Paribas Personal Finance is the seller. Neither side disclosed the financial terms.
CUSTOMER LAUNCH REMAINS PENDING
Regulatory approval does not itself make Revolut products publicly available in Argentina. The company must first complete the acquisition, implement the name change and satisfy local governance and operating requirements. Revolut said it was preparing an offer for Argentine consumers and is targeting a public launch in 2027, without giving a specific date.
The next verifiable milestones are transaction closing, formal registration of the new bank name and separate confirmation of the chief executive appointment. Bloomberg described the approval as clearing a key regulatory hurdle for Revolut to begin offering banking services in Argentina.