Euronet Worldwide (NASDAQ: EEFT), via its Ukrainian subsidiary, Euronet Ukraine LLC, announces the acquisition of ATMs from UkrSibbank, a subsidiary of BNP Paribas and the third largest bank in the Ukraine. The agreement for the acquisition of 172 ATMs follows the November 2011 purchase of 116 ATMs from UkrSibbank and doubles Euronet’s presence in the market.
Euronet operates the only shared ATM network in Ukraine and has contracts with five leading Ukrainian banks for network participation. The newly acquired ATMs are in convenient, high traffic, off-bank-premise locations and will be integrated into Euronet’s network. The expansion of this partnership with UkrSibbank demonstrates Euronet’s continued success in executing its strategy to consolidate banks’ off-premise ATMs to an independently deployed and shared network model.
This contract includes a seven year agreement for the bank’s participation in Euronet’s shared network, which provides the bank’s customers the ability to use Euronet ATMs under the same terms and conditions as the ATMs of their own bank. The agreement with UkrSibbank also expands Euronet’s geographic footprint in the country from Kiev to the other five largest cities in Ukraine.
“UkrSibbank’s cooperation with Euronet brings significant benefits for the bank and our customers. Euronet’s experience in managing and operating ATMs enables the Bank to focus on our core business, while our customers benefit from higher service levels due to the convenience of the Euronet locations and high ATM uptime,” stated Konstantin Lezhnin, Board Member of UkrSibbank.“Euronet is proud to expand our relationship with UkrSibbank. This partnership reflects a growing global trend of banks consolidating their ATM Networks,” stated Nikos Fountas, Vice President and Managing Director of Euronet’s EFT Europe Division. “Our bank customers benefit from lower operating costs while their customers benefit from access to a wider ATM network as well as to an extended set of value added services.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV