Revolut Acquires Banco Cetelem Argentina, Expands into South American Market

According to PANews, digital banking platform Revolut has announced the acquisition of Banco Cetelem Argentina, a local bank under the French banking giant BNP Paribas. This strategic move marks Revolut's entry into Argentina, the second-largest economy in South America. The acquisition includes Banco Cetelem's banking license and approximately $6.4 million in assets. Revolut currently holds a restricted banking license in the United Kingdom and a full banking license in Mexico. As of March, data from the Central Bank of Argentina indicated that Banco Cetelem was the smallest among the country's 73 financial institutions.