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Crédit Agricole S.A. has confirmed that it has begun consultations with a view to selling its retail banking subsidiary Credit Uruguay Banco.
These consultations are part of Crédit Agricole S.A.'s drive to refocus its retail banking operations on Europe and the Mediterranean area announced with the capital increase in 2008.
Crédit Agricole S.A. has established contact with the country's financial authorities for this purpose.
About Credit Uruguay Banco: Credit Uruguay Banco is the third-largest bank of the private sector in Uruguay (480 employees, 36 branches). Credit Uruguay Banco is a bank dedicated to serving the domestic market active in the fields of corporates, SMEs and individuals. Wholly-owned by Crédit Agricole S.A., Credit Uruguay Banco has over 1 billion dollars in total assets.