Ethiopia's United Bank awarded a contract to the Lebanese-based Computer Business Machine (CBM), for the supply of 50 Automated Teller Machines (ATM), two weeks ago.

Both CBM and United have refused to disclose the price at which CBM is offering to supply the machines, due to a confidentiality agreement.

United Bank is expanding its  ATM services to match its large number of clients and branches, according to Berhanu Getaneh, president of United.

The bank, which had deposits worth 6.8 billion Ethiopian birr and 68 branches by June 2012, currently provides ATM services through 20 ATM machines, which it has leased from PSS.

United Bank will sign the contract with CBM in the coming weeks, with delivery expected in three months time.

Source: Fortune