News

Turkish bank places large ATM order with GRG

September 6, 2010

GRGBanking Equipment (HK) Co., Ltd. Monday announced that it signed a large ATM contract with a Turkish bank, and if the machines’ performance exceeds bank officials’ expectations the financial institution will purchase additional ATMs from GRG.

Ziraat Bankasi, Turkey’s biggest bank and one of the world’s largest based on assets, purchased 1,250 H68N cash-recycling ATMs from GRGBanking Equipment (HK) Co., Ltd. for an undisclosed price. GRGBanking Equipment claims, however, the purchase is the “single biggest order for a recycling machine in the European and the U.S. markets by far.”

The H68N is GRG’s new generation of cash recycler. The machine authenticates banknotes of multiple currencies and denominations both in the deposit and dispensing processes. “The instant use of the deposited notes for dispensing reduces the money held in the ATM to a minimum, which improves cash usage and drives down operational costs by reducing the frequency of cash replenishment,” GRG said on the company website.

Ziraat Bankasi, which is based in the country’s capital of Ankara, accepted bids from a number of ATM manufacturers before choosing GRGBanking Equipment.

Ziraat, which means Agricultural Bank of the Republic of Turkey in English, said it may purchase another 625 machines.

GRGBanking Equipment (HK) Co., Ltd. is the newest subsidiary of GRGBanking Equipment Co. Ltd., which is based in Guangzhou, Peoples Republic of China.