Revolut Has Been Granted Approval by Peruvian Regulators to Set Up a Bank
Hey Digital Banking Fanatic!
Revolut has obtained its operating licence from Peru’s Superintendence of Banking, Insurance and Private Pension Fund Administrators (SBS), following its full banking‑licence application submitted in January 2026.
This licence allows Revolut to formally register as a financial entity, but not yet to operate as a bank.
It still needs to pass a regulatory audit before receiving full approval to launch products and accept deposits.
Until the beginning of this year, Revolut already had more than 10 people on its local team and was in the process of recruiting additional staff to move forward with the regulatory‑compliance requirements for the licence it had applied for.
According to Julien Labrot, CEO of Revolut Peru, the team should number around 60 people by the end of 2026. Revolut expects the complete licence to be finalised in early 2027.
This is a solid procedural milestone, but the real challenge is still ahead.
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Cheers,
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