(15th January 2004 – China) Technology company NCR has inked a deal worth US$36 million (A$46.5 million) with Bank of China to supply the state-owned bank with automated teller machines (ATMs).The ATMs have been built and designed in Beijing with many equipped with cash deposit terminals which have become popular in China.
The extended ATM network is Bank of China’s response to a rapidly growing economy and increased competition in the banking markets. The bank said it recognised the need to strengthen its ATM network with new products and services.
The $36 million paid out by the bank constitutes the majority of its self-service expenditure for 2003.