Wal-Mart Gets Clearance to Open Bank in Mexico: Reports

While Wal-Mart Stores has given up on opening a bank in the U.S., it is has obtained all necessary approvals for a bank in Mexico and may start opening branches in November, according to media reports.

BENTONVILLE, Ark. — While Wal-Mart Stores has given up on opening a bank in the U.S., it is has obtained all necessary approvals for a bank in Mexico and may start opening branches in November, according to media reports. It will be called Banco Wal-Mart de Mexico Adelante. A company spokesman was quoted as saying the retailer plans to open 10 to 15 banking centers inside its Mexican stores. Including Wal-Mart Supercenters, Sam’s Clubs and restaurants, the company has about 950 locations in M

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