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