Credit Agricole, a France-based banking organisation, has confirmed that it has begun consultations to sell its retail banking subsidiary Credit Uruguay Banco.
Credit Agricole said that these consultations are part of it’s drive to refocus its retail banking operations in Europe and the Mediterranean area announced with the capital increase in 2008.
Credit Uruguay Banco is a private sector bank in Uruguay with 480 employees and 36 branches. It is dedicated to serving the domestic market active in the fields of corporates, SMEs and individuals. Credit Uruguay Banco has over $1 billion in total assets.
