Credit Agricole Confirms Studying Sale Of Credit Uruguay Banco

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Samedi 21 nov 2009 | 06:21:20

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Credit Agricole Confirms Studying Sale Of Credit Uruguay Banco

PARIS -(Dow Jones)- French mutual bank Credit Agricole SA (ACA.FR) Tuesday said it has begun consultations to sell its retail banking subsidiary Credit Uruguay Banco.
"These consultations are part of Credit Agricole SA's drive to refocus its retail banking operations on Europe and the Mediterranean area announced with the capital increase in 2008," the bank said in a statement.
Credit Uruguay Banco is the third-largest bank in Uruguay's private sector with 480 employees and 36 branches. It is wholly owned by Credit Agricole, with over $1 billion in total assets.
Credit Agricole said it was in contact with Uruguay's financial authorities on the matter.
Company Web site: www.credit-agricole-sa.fr
-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171740; geraldine.amiel@dowjones.com;
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