French bank Credit Agricole SA (ACA.FR) Monday said it has signed an agreement to sell Credit Uruguay Banco, its retail banking unit in Uruguay, to Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA.MC) as part of its plan to refocus its retail banking operations on Europe and the Mediterranean.

Financial details of the deal weren't disclosed.

Credit Uruguay Banco is the third-largest bank in the private sector in Uruguay, with more than $1 billion in total assets.

The deal must be approved by Uruguay's and Spain's financial regulators before it becomes definitive, Credit Agricole said.

-By Elena Berton, Dow Jones Newswires; +33 (0)1 40 17 17 65; elena.berton@dowjones.com
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