Hi FTTT, On the 11/09/2014 we received an ATM update from the...

Hi FTTT,

On the 11/09/2014 we received an ATM update from the company re Punjab National Bank & Tamilnad Mercantile Bank Limited. We have also been informed that the total number of ATMs have increased to 1500 with a further 800 ATMs to come online soon. Total will soon = 2300 ATMs with existing three banks.

The last update re HDFC Bank was on the 25/06/2013 where TSI India signed a third, seven year addendum agreement with India's second largest private bank for ATM deployment. In that announcement, TSI India highlighted that the plans were to target 1500 ATMs by March 2014 and that Mr. Foster advised that HDFC had aggressive expansion plans.

We know with TMB there will soon be 1150 ATMs online.

A total of 2300 ATMs with existing three banks.

2300 - 1150 (TMB) = 1150

Therefore 1150 ATMs will be made up of PNB & HDFC once all are online soon. Does you know the exact breakdown for each?

TMB -  1150
PNB -  ?
HDFC - ?

I'm interested because, it will give us an indication of how many of the 1500 HDFC target the company has left to deploy, should all go to plan.

Well, March 2014 has well and truly passed, so fingers crossed an update re HDFC is not too far away?

Remember, just the three banks alone that TSI India are in business with (HDFC, TMB & Punjab) have over 100M clients on their database.

Here's some background on each bank...

1. http://en.wikipedia.org/wiki/Punjab_National_Bank
2. http://en.wikipedia.org/wiki/HDFC_Bank
3. http://en.wikipedia.org/wiki/Tamilnad_Mercantile_Bank_Limited

A substantial amount of business is coming from these three banks alone for TSI India. These guys are increasing the amount of ATMs per year, now that's what I call successful business. This is exciting!

Tony