London fintech Revolut has secured a major step towards establishing a licensed banking operation in Peru as it seeks grow its Latin American business.
Revolut has been granted an Organisation Licence by the Superintendency of Banking, Insurance and AFP (SBS) of Peru, a key step in the journey of being a licensed bank in the country.
The company said that with this new licence granted, it believes it will become the first fully digital bank to be authorised in Peru.
“Securing our Organisation License is a testament to the efficient regulatory environment in Peru and our team’s dedication to meeting the highest compliance standards,” said Julien Labrot, chief executive of Revolut Peru.
Having now launched as a full bank in its home market as well as in the European Union, the company has been targeting major growth in Latin America. As well as in Peru, Revolut has established a presence in Brazil, Mexico, Colombia and Argentina.
Last month Revolut reported its profits for the year ended December 2025 had surged by 57% compared with the previous year, reaching £1.7bn while revenue grew to £4.5bn.
