Argentina's central bank approves Revolut's purchase of Banco Cetelem Argentina
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What happened
Revolut announced on September 24, 2026 that it received approval from the Central Bank of Argentina to acquire Banco Cetelem Argentina S.A. from BNP Paribas Personal Finance. Revolut called the approval a significant regulatory milestone that lets it move forward with completing the transaction. The release did not state a price or a closing date, and a Dealroom news item dated September 25 reported the approval with no deal value.
Revolut said that after completion the bank will be renamed Revolut Bank Argentina S.A.U. and will operate as a regulated bank, though it will not initially offer public-facing products or services. It said Agustin Danza will be appointed CEO on closing, subject to standard approvals by the central bank. Revolut also said more than 150,000 consumers had joined its Argentine waitlist, and that it planned to keep building local operations over the coming months ahead of a future customer launch.
Key points
- The Central Bank of Argentina approved Revolut's acquisition of Banco Cetelem Argentina S.A. from BNP Paribas Personal Finance.12
- No purchase price or closing date was disclosed.12
- After completion the bank will be renamed Revolut Bank Argentina S.A.U., with no public-facing products at first.1
- Revolut said more than 150,000 consumers had joined its Argentine waitlist.1
- Agustin Danza will be CEO on closing, subject to central bank approvals.1
Why it matters
The purchase gives Revolut an existing regulated bank in Argentina, which it said will operate as a regulated entity under a new name once the deal completes.
Neither the release nor Dealroom gave what Revolut is paying BNP Paribas Personal Finance, so the sources give no read on the cost of this entry.
The bank will not initially offer public-facing products, and Revolut described a future customer launch. The approval adds a licence and a 150,000-person waitlist, not yet an operating customer business in Argentina.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series C | Apr 26, 2018 | $1.7B | $250M | DST Global |
| Series D | Feb 24, 2020 | $5.5B | $500M | TCV |
| Series D extension | Jul 24, 2020 | $5.5B | $80M | Unknown |
| Series E | Jul 15, 2021 | $33B | $800M | SoftBank Vision Fund 2 and Tiger Global Management |
Updated
Fact-check
- The Central Bank of Argentina approved Revolut's acquisition of Banco Cetelem.Confirmed by [2] Dealroom, which lists a September 25, 2026 news item headed 'Revolut wins Argentine central bank nod to acquire Banco Cetelem'.Verified
- Revolut announced the approval on September 24, 2026, for a purchase from BNP Paribas Personal Finance.The date and seller are in our event data and the writer's read of [1] Revolut's release, which returned 403 for me on all three URL variants.Partly verified
- No purchase price or closing date was given.[2] Dealroom gives no deal value; the absence of terms in [1] Revolut's release rests on the writer's read, as the page was blocked for me.Partly verified
- After completion the bank will be renamed Revolut Bank Argentina S.A.U. and will not initially offer public-facing products or services.Rests on the writer's read of [1] Revolut's release, which was blocked for me; our research data also records the new name.Partly verified
- More than 150,000 consumers have joined Revolut's Argentine waitlist.Rests on the writer's read of [1] Revolut's release, which was blocked for me.Partly verified
- Agustin Danza will be appointed CEO on closing, subject to central bank approval.Rests on the writer's read of [1] Revolut's release, which was blocked for me; our research data also names Danza as CEO on completion.Partly verified
Sources
- [1]Revolut (opens in a new tab)Revolut Receives Central Bank Approval for the Acquisition of Banco Cetelem in Argentinaapproval from the Central Bank of Argentina for the acquisition of Banco Cetelem Argentina S.A. from BNP Paribas Personal Finance
- [2]Dealroom (opens in a new tab)Revolut — Centicorn company profile | DealroomRevolut wins Argentine central bank nod to acquire Banco Cetelem
