Digital bank Revolut has received regulatory approval to acquire Banco Cetelem, a small lending institution in Argentina, from BNP Paribas. According to the source, the deal is aimed at expanding Revolut’s footprint in Latin America. Banco Cetelem focuses on consumer lending, and the acquisition will give Revolut a banking license in Argentina as well as an existing local customer base. The transaction marks a regulatory step forward for Revolut’s entry into the Argentine market, based on the information provided in the report carried by Techub and attributed to Finextra’s crypto channel.
Digital bank Revolut has received regulatory approval to acquire Banco Cetelem, a small lending institution in Argentina, from BNP Paribas, according to Techub, citing Finextra’s crypto channel.
Banco Cetelem focuses on consumer lending. The acquisition will give Revolut a banking license in Argentina and a local customer base, as the company moves to expand its business footprint in Latin America.
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