US Edition
Revolut to Acquire BNP Paribas-Owned Argentine Lender in Market Expansion
- Revolut, Europe's largest digital bank valued at $45 billion, is acquiring Argentina's Banco Cetelem to enter South America's second-largest economy.
- This acquisition follows Argentina's economic reforms under President Javier Milei, which include easing currency controls and opening the financial sector to foreign firms.
- Banco Cetelem is one of Argentina's smallest banks with $6.4 million in assets, and the deal grants Revolut a full banking license to offer tailored products locally.
- Experts project private sector credit in Argentina could grow by up to 50% this year amid rising borrowing and banking profits driven by the reforms.
- Revolut's acquisition marks its first step into South America, positioning it to compete with local fintechs like MercadoLibre and Ualá in a market where only 40% of adults have traditional bank accounts.
Insights by Ground AI
Does this summary seem wrong?
19 Articles
19 Articles
All
Left
2
Center
2
Right
4
Revolut Buys Small Argentine Bank as Country Opens Up to New Financial Players
Revolut, Europe’s biggest digital bank, is buying Banco Cetelem, one of Argentina’s smallest banks. Cetelem has only $6.4 million in assets, but this deal gives Revolut a full banking license in Argentina. This is Revolut’s first step into South America. Argentina’s government, led by President Javier Milei, has recently made big changes to the economy. […]
·Brazil
Read Full Article
It is the British Revolut group, which stayed with Cetelem and seeks the approval of the Central Bank
·Buenos Aires, Argentina
Read Full Article
Coverage Details
Total News Sources19
Leaning Left2Leaning Right4Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 25%
C 25%
R 50%
Factuality
To view factuality data please Upgrade to Premium
