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Article: ATMs yield clues to Argentine growth.
- Article from:
- Market Latin America
- Article date:
- June 1, 2007
CopyrightCOPYRIGHT 2007 Media Contact Resources, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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An interesting clue to the stability of consumer spending in Argentina emerges from recent statistics on the expansion of ATMs in the country. ATM use has been growing along with the economy, but only recently have Argentine banks moved back into profitability. This development was one of the key factors that supports growth in the installed base of ATMs, according to a May 8, 2007 posting on the ATM Marketplace (Louisville, KY USA) website, which is an aggregator of news about the ATM industry.
Sales of ATM units in Argentina have doubled since 2005. The website quotes an official of one of the biggest foreign companies that sells ATMs to Argentina as saying, ...