Coppel Launches Banking Ops

Mexican retailer Coppel has launched its banking operations in the local market after getting the go ahead from the banking regulator. Bancoppel, as the bank is called, will begin by opening five branches in Coppel’s home state of Culiacan and two in Mexico City. Coppel joins fellow retailer Famsa in the banking market and will be followed by Walmart de México and Soriana.