French bank Credit Agricole SA (ACA.FR) Tuesday said it is in exclusive talks with Banco Bilbao Vizcaya Argentaria SA (BBVA.MC) on the sale of its retail banking subsidiary Credit Uruguay Banco.

In October last year, Credit Agricole said it had begun consultations to sell Credit Uruguay Banco as part of its drive to refocus its retail banking operation on Europe and the Mediterranean area.

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.

Company Web site: www.credit-agricole-sa.fr

-By William Horobin, Dow Jones Newswires; +33 1 4017 1740; william.horobin@dowjones.com
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