In brief: Revolut seeks to resume BNP Paribas' credit activities in Argentina

New example of the competitive battle between traditional actors and alternative actors, with the new project being defended today by Revolut as regards the acquisition of Banco Cetelem Argentina. The British neo-bank would thus take over the consumer credit activity of BNP Paribas in Argentina.

If the information has not yet been confirmed by the main players in question, Revolut would be about to acquire Banco Cetelem Argentina and the acquisition agreement would be subject to approval by local regulatory authorities.

No information on the terms of this agreement was disclosed, however, it would correspond to the acquisition by Revolut of Cetelem's local banking licence and the transfer of the corresponding assets.

This takeover would be an important step in the strategy of expansion of Revolut in the Latin American market and would illustrate the gradual transformation of the company, which tends to normalize and diversify its financial activities.

As a reminder, Revolut has already launched its services in Brazil, Mexico and Colombia.

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