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RETAIL BANKING | Staff Reporter, China

GRGBanking clinches US$66.5m deal from Bank of China

BOC has awarded contracts to GRG Banking Equipment Co Ltd for new automated teller machines and ATM management software.

GRGBanking, the top ATM supplier in China, won two multi-million dollar contracts amounting to US$66.5 million last December. It said the contracts will have a positive impact on its 2011 revenue and profit.

Previously, BOC awarded GRGBanking two contracts worth $27.9 million in August 2011.

With headquarters in Guanzhou, GRGBanking has over 66,000 ATMs deployed worldwide in more than 60 countries. It is a provider of currency recognition and cash processing solutions and specializes in the development and manufacture of ATMs for financial institutions and retailers.

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