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February 10, 2010

Banco do Brasil, Bradesco, Banco Santander Brasil To Share ATM Network

In order to reduce operational costs, Banco do Brasil, Bradesco and Banco Santander Brasil have agreed to share automated teller machines (ATMs) in airports, shopping malls and supermarkets across Brazil.

By CBR Staff Writer

The banks are said to have even started a preliminary study to evaluate the potential amount of costs reduction with the move and other operational issues. The banks intend to conclude the study over the next five months.

In Brazil, domestic banks operate their own ATMs. Reportedly, Banco do Brasil had 40,000 ATMs, Banco Santander had 8,600 ATMs, while Bradesco had a total of 30,657 ATMs by the end of 2009.

In a statement the banks said: This model will offer a significant increase in network availability and coverage, with efficiency gains in relation to the current, individual way in which each of the ATM networks are used.

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