Revolut's acquisition of Banco Cetelem Argentina signifies its strategic entry into the Argentinian banking sector, enhancing its footprint in South America.
Revolut has officially entered the Argentinian market by acquiring Banco Cetelem, a small local bank owned by BNP Paribas. The acquisition includes Cetelem's banking license and $6.4 million in assets, with Cetelem being the smallest of Argentina's 73 financial institutions as per the Central Bank's data from March.