2 December 2012

Ethiopia: Awash Int'l Bank to Equip All Branches With ATMs

Awash International Bank is buying automatic teller machines (ATMs) for all its branches where there is telecommunications network and supplying Points of Sale (POS) machines to five star hotels and supermarkets.

The bank floated the procurement tender for 100 ATMs and 80 POS after reporting a net profit of 394.4 million Br two weeks ago, amounting to an earnings per share (EPS) of 469 Br. Awash will add 16 branches over the coming six months to the existing 89 branches, according to Yohanes Merga, vice president for corporate services of the Bank. All branches in Addis Abeba and those branches located where there is a telecommunications infrastructure will have ATMs, according to him.

"The POS will be installed in five star hotels and supermarkets in the capital," Yohannes said.

Though the Bank has already established Premier Switch Solutions S.C, in collaboration with Nib and United Banks, for implementation and joint operation of ATM and POS, the Bank is to implement its own ATM and POS parallel to that.

"The Bank's success story will be maintained at any cost through structural transformation, new products and innovations," says Yohanes.

"We want to minimise the risk and we do not want to offend our customers," says Yohanes. "However, bidders can propose whatever qualities the machines they can provide."

The Bank has already signed a 3.5 million dollar contract with MISYS International Banking System, a London-based banking software supplier, to replace the old Core Banking it has.

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