AFP-The world’s biggest retailer, Wal-Mart Stores, Inc., said Wednesday it had won approval from Mexico’s government to open banking centers in its Mexican stores.
A spokesman for Wal-Mart de Mexico, Wilfred Castro, said the US retail giant was initially planning to open between 10 and 15 new banking centers in the country.
Wal-Mart said it won approval to operate bank branches from the Mexican Banking Commission on Monday.
Branches of Banco Wal-Mart de Mexico Adelante will be located in existing Wal-Mart stores and retail outlets.
“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,” the president and chief executive of Wal-Mart’s Mexican operations, Eduardo Solorzano, said in a statement.
