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banks at war for holes in the war

  1. 916 Posts.
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    this story in the melbourne age of 27.9.07, explains cus involvement with st.george and the 200 atm`s a bit better >
    BANKS AT WAR FOR HOLES IN THE WALL., by marc moncreif.
    St.george has cut a deal to increase its atm network by 20 % as the battle for banking locations heats up.
    the bank will rent about 200 machines from cus ltd which owns about 5000 machines around the country.
    twenty two of the machines are in victoria, 76 in NSW and about 50 in QLD.
    The machines are in BP petrol stations and will be branded as st.george.
    the move comes as perth based bankwest threatens to expand its network accross the east coast.
    ANZ has also recently launched an initiative to develop the nations largest atm network by 2010.
    st.george general manager peter lock said the plan was intended to help st.george quickly expand into areas outside its traditional nsw base.
    unquote, the heading "banks at war for holes in the wall" says it all for me. there must be money in owning atm machines, and the banks are chasing ownership of additional atm`s since the recent RBA decision granted the atm owners the right to charge their own fees.
    cus has 5000 so i am assuming some of the banks will be eyeing off CUS as a takeover target.
    bendigo bank, macquarie infrastructure, ANZ nominees, and HSBC nominees already have sizeable holdings in cus.
 
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