BUENOS AIRES, Sept 14 (Reuters) - Banco Santander Rio on Wednesday denied newspaper reports that it had purchased Citigroup’s retail operations in Argentina, according to a letter from Santander to local market regulators.
“Regarding certain media reports, we inform you that Banco Santander Rio S.A. has not reached any agreement to buy the retail operations of Citibank in Argentina,” Santander said in a letter to the Buenos Aires Stock Exchange.
Earlier this year, the U.S. bank said it was exiting its retail banking and credit card operations in Brazil, Argentina and Colombia as it sought to slim down and cut costs.
Banco Santander Rio is the Argentine affiliate of Spain’s Santander Group. (Reporting by Hugh Bronstein; Editing by Phil Berlowitz)