Revolut Wins Approval to Buy Banco Cetelem in Argentina

Argentina’s central bank has approved Revolut’s acquisition of Banco Cetelem Argentina S.A. from BNP Paribas Personal Finance.

Following completion of the transaction, the bank will be renamed Revolut Bank Argentina S.A.U. and will operate as a regulated bank. Initially, however, it will not offer products to customers, focusing instead on meeting regulatory and operational requirements.

According to the company, more than 150,000 people have joined Revolut’s waitlist in Argentina.