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Macquarie Bank looking to expand Australian ATM network

11 November 2005  |  5009 views  |  0 ATM

Australia's Macquarie Bank is looking to acquire an additional 7000 ATM units from other banks in the country in a deal that could be worth over A$200 million.

According to local press reports, Macquarie Bank wants to add to the 2400-strong ATM network it bought from Bank of Queensland for A$64 million in July this year.

The purchase was part of a move by Macquarie to acquire assets that require little maintenance but still generate substantial fees.

The bank is now reportedly looking at ways of increasing profitability from the ATM market through the establishment of a large scale centralised system.

The proposal is thought to have received a lukewarm response from major banks in Australia.

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