BNP Paribas’ Buenos Aires (Argentina) branch, a branch of France-based PNB Paribas Group, has signed an agreement to sell its retail banking business in Argentina to Banco Santander Río, a part of Spain- based Santander group.
Reportedly, under the terms of the agreement, the employees of the retail banking business will be transferred to Banco Santander Río. This network consists of 17 branches in the city and province of Buenos Aires and offers services to more than 30,000 private customers and 900 corporations.
However, the terms of the deal were not be disclosed. The bank has said that the closing of the transaction is subject to the approval of the central bank and other authorities.
