GRG wins US$34.6m contract

A 54% increase in the confirmed total revenue came in from BOC in 2010. This came from the signed contract between BOC and GRG Banking Equipment.

GRG Baking Equipment signed a contract worth around US$ 34.6m (CNY230m) with Bank of China to supply ATM equipment, install software and provide related services such as training to the bank. This is the second major contract that GRG Banking acquired from BOC this year.

In combination with the recently signed contract, the confirmed total revenue from BOC in 2010 should be US$93.17 million (CNY 630 million), a 54% increase compared to last year. At present, GRG Banking is the largest ATM provider of BOC.