GRG Banking to provide ATMs for Agricultural Bank of China

GRG Banking to provide ATMs for Agricultural Bank of China
Tags: Asia, Australia & Pacific, Bank / Credit Union, GRG Banking Equipment Co., Ltd, Manufacturers
September 17, 2008

GUANGZHOU, China — GRG Banking Equipment Co. Ltd. says it has signed a deal with Agricultural Bank of China to provide ATMs/cash dispensers and cash recyclers.

According to a news release, the contract is expected to be worth between RMB 400 million (U.S. $58.5 million) and RMB 500 million (U.S. $73.2 million). GRG says the deal further enhances its stronghold on the Chinese ATM market.

Agricultural Bank of China is one of China's four state-owned commercial banks. It has 24,452 branches and is ranked the 65th among the world's top 1,000 banks, according to The Banker.