News

GRG Banking reports 24.25 percent increase in 2010 net income

April 3, 2011

GRG Banking Equipment Co., Ltd., the largest ATM supplier in China, recently reported 2010 revenue of $262.9 million, up 15.82 percent compared with 2009's revenue.

The manufacturer recorded 2010 net income of $80.14 million, up 24.25 percent compared with 2009. Net profit attributable to shareholders grew 22.48 percent to $72.46 million and earnings per share were 21 cents, a surplus of 23.01 percent compared with 2009.

The company's 2010 revenue was mainly generated from sales of ATM products and related services, company officials wrote in a statement. Operating revenue of ATM products increased 11.85 percent with a total amount of $224.75 million.

Domestically, GRG's market share continued to grow.  In 2010, the company signed two contracts with the Bank of China, which are worth $93.17 million. On the international front, the manufacturer signed contracts with 51 customers in more than 45 countries in 2010. 

Company officials noted that it made a significant breakthrough in Europe last year, winning a bid to deploy 1,250 H68N cash-recycling ATMs for Ziraat Bankasi, Turkey's biggest bank and one of the world's largest. The Ankara-based financial institution, also known as Agriculture Bank, is owned by Turkey's government.

GRGBanking Equipment Co. Ltd. has sold more than 66,000 ATMs in more than 60 countries.