Wal-Mart Stores earlier this week denied rumors that it would consider opening banks in Chile and Argentina.
The reports are “completely untrue,” Wal-Mart spokesman Kevin Gardner told Bloomberg in an e-mailed response to questions.
The Santiago, Chile newspaper Estrategia reported that Wal-Mart Stores is considering opening banks in Chile and Argentina. The report, circulated by Bloomberg, said that Wal-Mart completed a study into banking services in Argentina. In Chile, Wal-Mart operates the Presto credit card, which it acquired in the takeover of supermarket chain Distribucion y Servicio D&S SA in 2009.