(TOKYO:6703) today announced the delivery of cash-recycling ATMs, ATM-Recycler
G7, to State
Bank of India (hereinafter referred to as SBI), the largest bank in
India. This marks OKI's first delivery of its cash-recycling ATM in
Founded in 1806, SBI is a government-owned corporation with its
headquarters in Mumbai and is the only Indian bank listed in Fortune
Global 500 with assets of US$388 billion (As of December 2013), making
it the largest bank in India by assets.
The SBI Group currently operates approximately 39,000 units of ATMs and
CDs (cash dispensers). Committed to utmost customer satisfaction, SBI is
enhancing services and customer convenience through various channels
including the Internet and mobile. SBI ran a live field trial of OKI's
ATM-Recycling G7 and evaluated its high-reliability and future
expandability to recycling functions,which led to considering and
subsequently installing these units.
"Under the Mid-term Business Plan 2016 announced on November 12, 2013,
one of most important management strategies is to develop new overseas
markets for OKI's ATMs," says Shinya Kamagami, Senior Vice President and
General Manager of OKI's Systems Hardware Business Division. "The
delivery of ATM-Recycler G7 to SBI is a solid step in line with this
strategy. It follows installations in Russia and Indonesia, in addition
to Japan and China where OKI already has strong track records. Moreover,
in May 2013, OKI announced an expansion into the Brazilian ATM market.
Moving forward, OKI plans to further expand its ATM business which will
enforce OKI's future growth."
The number of ATMs and CDs operating in India reached 140,000 units in
2013, making it the third largest market in Asia, following China and
Japan. The number is expected to continue increasing and approximately
double by 2016 due to the Financial Inclusion*1 set by the
Reserve Bank of India. Building on the delivery to SBI and leveraging
cash-recycling ATMs that contribute to banknote and operation
management, OKI aims for 25% share in unit shipments of the Indian ATM
Capitalizing on the achievement made in the Indian market, OKI plans to
accelerate global sales development of its ATMs and aims for 40% market
share in the global cash-recycling ATM market, namely in emerging
markets, where economic growth is expected to continue.
*1 Financial Inclusion is a policy that delivers banking
services to vast sections of Indian society equally, regardless of
district of residence or income.
About State Bank of India (SBI Group)
State Bank of India, with a 200 year history, is the largest commercial
bank in India in terms of assets, deposits, profits, branches, customers
and employees. The Government of India is the single largest shareholder
with 61.58% ownership. SBI is ranked 60th in the list of Top 1000 Banks
in the world by "The Banker" in July 2012. The SBI Group consists of SBI
and five associate banks with an extensive network of over 20,000 plus
branches in India and another 173 offices in 34 countries across the
About OKI Electric Industry (OKI)
Founded in 1881, OKI Electric Industry is Japan's leading
telecommunications manufacturer in the Info-telecom field. Headquartered
in Tokyo, Japan, OKI provides top-quality products, technologies, and
solutions to customers through its info-telecom systems, such as IP-PBX
and call center systems, and printer operations. As a leader in ATMs,
OKI holds the top share in the Japanese and Chinese cash-recycling ATM
markets. Visit OKI's global website at http://www.oki.com/.
[ Back To NFVZone's Homepage ]