Revolut is taking a fast track route into Argentina’s financial sector

Revolut is taking a fast‑track route into Argentina’s financial sector by acquiring Banco Cetelem from BNP Paribas Personal Finance, rather than building a new bank from the ground up. With approval now granted by the Central Bank of Argentina, the deal is moving toward completion. Once closed, the entity will become Revolut Bank Argentina S.A.U., though it won’t offer products immediately as it works through remaining capital, operational and regulatory steps before launch.

Leadership is already taking shape. Agustín Danza is expected to step in as CEO, pending final regulatory approval, while Juan Marotta formerly CEO of HSBC Argentina and HSBC South America will chair the local board. Danza described the acquisition as a major milestone toward Revolut’s debut in the country, noting that operating as a bank unlocks the full strength of its value proposition.

Momentum is clearly building ahead of launch. Revolut says more than 150,000 Argentines have joined its waiting list, drawn by a planned offering that spans everyday banking, credit, international spending, wealth products and rewards. While the company hasn’t confirmed which services will go live first, the acquisition marks a significant step in expanding across what it sees as one of its most promising growth markets in the region.