BNP Paribas To Sell Argentine Retail Activities To Banco Santander Rio
August 21 2009 - 4:14PM
Dow Jones News
French bank BNP Paribas SA (BNP.FR) Friday said it has agreed to
sell its retail banking activities in Argentina to Banco Santander
Rio SA (BRIO.BA).
The retail banking network is made up of 17 branches in the city
and province of Buenos Aires, with 30,000 individual customers and
900 companies, BNP Paribas said in a statement. Financial details
of the transaction weren't disclosed.
BNP Paribas said it will continue to provide products and
services to its corporate clients and institutional investors in
Argentina.
The deal requires the approval of the Argentine central bank and
other authorities, BNP Paribas said in the statement.
-By Jethro Mullen, Dow Jones Newswires; 33-1-4017-1738;
jethro.mullen@dowjones.com