On October 1, the Securities and Exchange Commission authorized Wal-Mart de Mexico to start operations as a multiple banking institution. 

Eduardo Solorzano, President and CEO for Wal-Mart de Mexico, and Chairman of the Board for Banco Wal-Mart said: “We will be able to complement what we offer to people —who currently have no access to banking services— to fulfill our vision of contributing towards improving the quality of life of Mexican families”.

Banco Wal-Mart plans to open its first branches in early November, when all preparations are ready.