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 Mexico. “With Banco Wal-Mart, we will be able to complement the services we provide to the segment of the population that currently lacks the benefits of having accessible banking services,” said Eduardo Solorzano, chief executive of Wal-Mart de Mexico.
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