Digital bank Revolut acquires Argentina's Cetelem Bank

According to CrowdfundInsider, digital bank Revolut announced the acquisition of Banco Cetelem Argentina, a small local bank owned by French banking giant BNP Paribas. This transaction marks Revolut's official entry into Argentina, the second largest economy in South America. This acquisition covers Cetelem Bank's banking license and approximately $6.4 million in assets. The company holds a restricted banking license in the UK and a comprehensive banking license in Mexico. According to data from the Central Bank of Argentina in March, Cetelem Bank is the smallest among the 73 financial institutions in Argentina.