Pvt banks' big push for ATMs 1,200 booths to be installed this yr
Pvt banks' big push for ATMs
Commercial banks are in a mad rush for expanding ATM services across the country to change the landscape of the traditional banking transactions.
Some 28 commercial banks out of 48 have installed as many as 2,636 automated teller machines (ATM) in urban areas, up from 1,000 a year ago, according to an FE estimate.
Bankers say more than 1,200 ATMs-or 46 per cent of the existing booths--will be installed by commercial banks by the end of December.
DBBL (Dutch-Bangla Bank Ltd), which remained on the frontline, will alone launch 500 new booths by December, followed by Brac Bank that plans to set up another 100.
Iqbal Hossian, head of ATM section of the DBBL, told the FE: "Demand for the new mode of transaction is tremendously high, especially among the new generations. For this, we're setting up booths to match with the demand."
DBBL first launched the debit card system in 2004, although state-owned Janata Bank Ltd had installed a 'ready cash'--similar to that of ATM--in 1997-98.
On average, the daily withdrawal from DBBL's existing 1700 booths totals Tk 170 million, an official said.
Mr. Hossain said now banks want to offer hassle-free services to the customers.
Qazi Mortuza Ali, Head of Card and Electronic banking of BRAC Bank, said the amount of cash drawn by 50,000 of our customers totals Tk 400 million a day.
"We expect to unveil at least 150 booths in 2012," he told this correspondent.
"We are now desperately seeking to extend our services to the rural areas. But networking is the major hurdle in launching booths in rural Bangladesh."
Abul Bashar, Deputy Managing Director (ICT Division) of the country's first Shariah-based bank, said it launched the booths only a year back, but it has now over 100 booths.
Mr Bashar said: "We've more than 7.0 million customers across the country, which creates pressure on our branches. For this, we're opting for this kind of new technology."
"You can now move anywhere with the debit cards and withdraw your money whenever needed without wasting time and standing on a long queue," he added.
He said customers withdraw more than Tk 50 million each from IBBL's booths. "We expect this figure to dramatically rise when our booths double by March next."
One official of Eastern Bank Ltd said the bank will adopt a go-slow policy and install only 10 new booths latter this year.
Currently, EBL is operating 92 ATM Booths mainly in the urban areas.
Standard Chartered, which is also making an aggressive marketing in the ATM business, said they would install 72 new booths in major cities. Currently, the UK-based bank has 88 booths, up from 50 during August 2010.
Another Shariah'-based lender EXIM Bank is now operating only eight booths.
"We want install 50 ATM by this year," said Md Mamun, an official working at its IT Division.
"Big customers are also demanding for such kind of transaction. So for this we want expanding this," he added.
A high official of First Security Islami Bank (FSIB) said by this year it will launch 50 ATM booths.
Prime Bank has 58 ATM booths and a high official of ATM division of the bank, Mr. Hasib said the bank would add 50 booths this year.
"We are hopeful more 100 ATMs will be installed next year," he said.
Social Investment Bank Limited (SIBL) is serving its customers through only five ATM booths, which are located in the city.
"Within the next two months, 15 more ATMs would be set up," said a high official of the bank.
IFIC, a public-private bank, is also planning to open large number of booths to cater to the demand of customers.
A high official of Mutual Trust Bank (MTB) said at present, it has 23 ATM booths and another 67 ATMs would be installed this year.
Mercantile Bank would also increase 40 ATM booths by this year and its existing ATM is 35, an official of the bank said.
Trust Bank is serving the customers through existing 51 ATM booths.
Head of IT division of Trust Bank, S M Akram Sayeed, said the bank has planned to install 49 more ATMs by this year.
Mr Sayeed also said for the interest of the Army personnel, ATM is very much necessary so that they can conduct hassle free transactions from any place any time.
