ICICI Venture, a wholly owned subsidiary of ICICI Bank has reportedly acquired a strategic stake in BTI Payments, an ATM management company and a subsidiary of Banktech Group, Australia for Rs 140-crore ($22.4 million). This investment is in conjunction with the Australian promoter's Rs 110-crore investment in the business to branch out into setting 'white label' ATMs (WLAs) in India. Last year, BTI Payments had received RBI’s approval to deploy WLAs in India. WLAs are automated teller machines set up by non-bank entities; they can be used by customers of all banks.
ICICI Bank is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of $122 billion at December 31, 2012. The Bank’s presence currently spans 19 countries, including India.
Company Name | CMP |
---|---|
HDFC Bank | 1461.80 |
ICICI Bank | 1120.95 |
Axis Bank | 1124.15 |
Indusind Bank | 1422.15 |
Kotak Mahindra Bank | 1646.60 |
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