News: Chinese banks attracted by State Bank's ATM network

(ACERC 15/08/2006) Bangalore - Buoyed by the successful roll-out of the ATM network and implementation of the core banking platform of India's biggest bank, two of the large Chinese banks are making a beeline for State Bank of India.

The aim is to get a first-hand look and feel of how SBI managed to adapt and rollout technology to scale its business. The banks in question also include the Agriculture Bank of China.

The banking automation projects for the Chinese banks has attracted world-wide attention with even some Indian players evincing interest.In the interim. The ATM ramp-up was well on course and could well cross the 9,000 mark before the current fiscal ends.

Incidentally, SBI, on a stand-alone basis, has close to 9,500 branches though the ATM network comprises of not just machines installed by SBI but also that of its seven associate.