ICICI to spin off its ATMs, terminals

Posted By: Staff
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Mumbai, Mar 18: India's largest private sector lender ICICI Bank has planned to spin off its Automated Teller Machines (ATM) and terminals, that accepts credit and debit cards payments. Banking technology companies and private equity players are participating in bidding that ICICI has sought to manage the business.

Some private equity investors that are showing interest are Visa, Total System Services, First Data Corp and a joint venture between Blackstone and CMS Computers.

The bank has more than 4,000 ATMs and more than 200,000 point-of-sale terminals. Bank Spokesman declined to comment.

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