for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

India's ICICI considering to spin off ATMs -report

MUMBAI, March 18 (Reuters) - Indian private sector lender ICICI Bank ICBK.BO is considering spinning off its automated teller machines (ATM) and terminals, which accept credit and debit card payments, the Economic Times said on Wednesday.

The bank has sought bids from banking technology companies and private equity players for participating in a new entity that will manage the business, the newspaper said, citing unnamed sources.

It said Visa V.N, Total System Services TSS.N, First Data Corp and a joint venture between Blackstone BX.N and CMS Computers besides some private equity investors have shown interest in partnering ICICI Bank.

The bank has more than 4,000 ATMs and more than 200,000 point-of-sale terminals, it said.

A spokesman for the bank declined comment on the report.

"Banks should look at deals like this since ATM management is not really a core-banking activity," Mani Mamallan, chief marketing officer of C-Edge, a joint venture between State Bank SBI.BO and Tata Consultancy TCS.BO, told the paper.

A separate unit, which specialises in installing and managing ATMs, will be able to deploy new machines at a much faster rate, the paper said. (Reporting by Janaki Krishnan; Editing by Ranjit Gangadharan)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up