Loomis signs cash handling agreement with Swedish bank BAB Bankernas Automatbolag

Loomis signs cash handling agreement with Swedish bank BAB Bankernas Automatbolag
Tags: Bank / Credit Union, Logistics / Transportation, Vault Cash / Cash Management
October 6, 2011

Cash handling company Loomis has signed a four-year agreement in Sweden with the newly founded BAB Bankernas Automatbolag to provide approximately 50 percent of Automatbolag’s ATMs with cash, according to a company press release.

Also included in Loomis’ assignment is the counting of cash and certain emergency servicing of the machines. BAB has the option of extending the agreement by a period of two years. The agreement took effect Sept. 30, 2011.

BAB Bankernas Automatbolag was founded in September 2010 by Danske Bank, Handelsbanken, Nordea, SEB and Swedbank, and is taking over the management of the owner banks’ approximately 2,700 withdrawal and deposit ATMs.

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