UK-based fintech company Revolut, has reached an agreement to buy Banco Cetelem in Argentina from BNP Paribas. This acquisition marks Revolut’s first move into the South American banking market. According to sources familiar with the matter, the deal is expected to include Banco Cetelem’s banking license in Argentina, along with approximately $6.4 million in assets.

The deal gives Revolut a way to officially join Argentina’s financial system as it continues to grow internationally. The fintech, based in London, has already started seeking approval from Argentina’s central bank, according to sources.

Revolut Aims To Accelerate Global Expansion Through Strategic Acquisitions

Although Banco Cetelem ranks among Argentina’s smallest banks in terms of assets, its license is seen as a valuable asset for Revolut. The acquisition highlights Revolut’s growing reliance on strategic takeovers to enter new markets and expand its global reach.

Moreover, Revolut is taking over Banco Cetelem in Argentina, a small lender previously owned by BNP Paribas. The company joined a competitive bidding process for the bank, which also drew attention from Southern Cross Group and brokerage firm Criteria.

The company has appointed Augustin Danza to lead its local branch as it begins assembling its team in Argentina. With a global user base of 60 million and a valuation of approximately $45 billion, Revolut already holds a limited banking license in the UK and a full license in Mexico. It is also actively pursuing additional banking licenses across various countries, further strengthening its international growth strategy.

Revolut Wants To Establish A Strong Presence Amid Argentina’s Economic Revival

Revolut’s entry into Argentina comes at a time of major economic shifts, driven by reforms introduced under President Javier Milei’s administration. These changes are transforming the country’s financial system, leading to a noticeable revival in credit markets.

As confidence returns, banks have begun issuing home loans again after a prolonged pause, signaling renewed financial activity.

This recovery is backed by data from the industry group Adeba, showing a big jump in private sector lending—the biggest in more than thirty years.

As the economy improves, Revolut is stepping into a busy and competitive market. Big local fintech names like MercadoLibre and Uala already lead in digital payments and daily banking.

Even with strong rivals around, Revolut seems ready to use its new spot in Argentina to stay in the game and keep up with the country’s fast-changing financial scene.