- Signs ATM supply contract with KICB Bank
Nautilus Hyosung signed a contract on supply of ATM with Kyrgyz Investment & Credit Bank in Bishkek, the capital of Kirgizstan, as it advances into the Central Asian country.
KICB is the seventh largest bank by asset in Kyrgyzstan, and Nautilus Hyosung agreed to supply 50 units of Monimax 5600 to the bank under the agreement. The supply is not small in quantity even at the national level of Kyrgyzstan, because the country, which is in early stage of introducing ATMs, has only about 80 ATMs installed nationwide. The deal is especially significant in that Hyosung is the first Korean firm to make a foray into the market, and that it has become the top supplier, which gives the Company an edge in the market that is expected to make brisk growth in the future.
