Business Services Industry
AUSTRALIA'S ST GEORGE EXPECTS US$20 MLN PROFIT FROM ATM SALE.
AsiaPulse News, December, 2004
SYDNEY, Dec 29 Asia Pulse - St George Bank Ltd (ASX:SGB) today said it expected to book a pre-tax profit of A$26.6 million (US$20.6 million) from the $38 million sale of its unbranded automatic teller machine (ATM) network.
The nation's fifth largest bank is selling the network of 700 machines to Australian Stock Exchange listed payments systems and e-commerce company Customers Ltd.
St George said the profit will be treated as a significant item in its fiscal 2005 results.
"The sale is consistent with the group's overall policy of divesting non-core assets," St George said.
"St George will continue to own and maintain its own branded ATM network, which is integral to the group's core business."
The unbranded ATMS are mostly...
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