CMS Info Systems completes management of Punjab National Bank’s (PNB) ATM network. This entails tasks such as monitoring
CMS Info Systems, a leading business services company in India, has completed the execution of ATM Managed Services of 5,200+ ATMs for Punjab National Bank (PNB) across 526 cities and towns in 26 states. CMS is now PNB’s largest provider of ATM Managed Services. The CMS Info Systems stock increased by more than 3% to ₹361 a share during today’s trading session on account of this news. The shares of CMS Info Systems also made a fresh 52-week high today. The business has a market cap of ₹5,476.57 crores. The promotors increased their holding in the company from 60.24% to 63.01%. While, the FIIs have too raised the stake in the company from 9.54% in FY21 to 13.12% in FY22. The stock has given a return of more than 60% in the past one year. Over the past five years, the company has produced solid profit growth of 29.4% CAGR. The company has maintained a dividend pay-out of an attractive 27% for Q4FY22. The net profit is been seeing growing and for the last quarter ended FY22 was recorded at 77 crores.
The mandate includes end-to-end management of PNB’s ATM network, including monitoring, cash management, and forecasting of cash replenishments. CMS will also ensure high availability and uptime of the ATM network.
Manjunath Rao, President – Managed Services, CMS Info Systems, said, “We are glad to partner firmly with the country’s second largest PSU bank. CMS has always believed in deepening its relationship with its clients through a solution-oriented approach. We look forward to further providing our assistance to banks and financial institutions in their quest for a branchless banking experience with the help of new-age technology, that secures their ATMs operations cycle and provides a safe customer experience.”
CMS is one of the top firms in India that offers a large-scale implementation roll-out that extend remote towns by delivering entire ATM solutions. The Managed Services division of CMS offers technology solutions for site infrastructure, security, and user experience, as well as Banking Automation, ATM-as-a-Service, and banking automation.
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Updated: 21 Jun 2023, 08:45 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.