Number of ATMs continue to rise

Number of ATMs continue to rise

BANKS CONTINUED to add more automated teller machines (ATMs) to their networks to better service their clients.
Bangko Sentral ng Pilipinas (BSP) data as of March showed that total ATMs in the country rose by 2.4% to 9,592 as of March from 9,370 as of December last year.

BSP Deputy Governor Nestor A. Espenilla, Jr., in a recent interview, said the increase in ATMs could be attributed to banks responding to clients’ demand for convenient banking services. "The number of ATMs is indicative of banks… reaching out to their clients," he said.

Universal and commercial banks -- which accounted for the bulk of ATMs in the banking system -- reported an increase of 1.2% in newly installed machines to 8,227 in the first quarter from 8,072 in the previous quarter, central bank data showed.

Universal banks accounted for 78.76% or 7,555 of the total number of ATMs, while commercial banks accounted for 7% or 672.

Thrift banks reported having a total of 1,178 ATMs in the first quarter, up by 2.3% from 1,151 a quarter earlier.

Rural and cooperative banks’ number of ATMs grew the fastest by 27.2% to 187 from 147.

Mr. Espenilla said this meant that rural banks have become more responsive to the needs of clients as well as potential clients in the countryside. -- Antonio Siegfrid O. Alegado

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