Revolut has obtained an organisation licence from Peru's Superintendence of Banking, Insurance and AFP, moving one step closer to full banking operations in the country.
The organisation licence now granted by the SBS will allow Revolut to register as a formal company operating within Peru's financial sector, but will not yet permit it to conduct banking activities such as selling financial products or accepting savings deposits.
Audit phase remains before commercial launch
To obtain full operating authorisation, Revolut must still request a regulatory audit from the SBS, representing a mandatory verification visit that constitutes the final phase of the licensing process. Only upon satisfactory completion of that audit will the neobank be permitted to formally launch banking services in the country.
Once authorised to operate, Revolut has stated that it plans to introduce its full suite of banking products and services in Peru, with a focus on digital delivery, transparency, and personal financial control. The company has indicated that it does not plan to open physical branches, though it is assessing the potential viability of ATM deployment, a model already being piloted in Spain.
Peru would represent Revolut's fifth market in Latin America, joining Argentina, Brazil, Mexico, and Colombia. The company has signalled its intent to compete directly with established domestic lenders, including BCP, BBVA, Interbank, and Scotiabank Peru.
In addition, the Peruvian market presents both competitive and regulatory complexity. The country's banking sector is dominated by a small number of large institutions, and regulators have applied a structured, multi-stage licensing framework that distinguishes between the right to organise and the right to operate, a distinction that places Revolut in an interim period before it can begin generating revenue from local customers.
No timeline has been confirmed for the completion of the SBS audit or the subsequent commercial launch in Peru.
