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The tie-up, however, is not a three-way arrangement.

Mumbai , Oct. 7

STATE Bank of India has tied up with ICICI Bank and HDFC Bank for an ATM sharing arrangement, allowing SBI customers access to biggest ATM network in the country, with ATMs in excess of 4,500.

With this, both ICICI Bank and HDFC Bank customers will also have access to SBI's vast ATM network, which is at 2,068 ATMs at present and poised to touch the 3,000-mark by the end of this fiscal year.

The tie-up, however, is not a three-way arrangement; i.e, SBI has independent tie-ups with both ICICI Bank and HDFC Bank, while the two private sector banks do not have an ATM sharing arrangement with each other.

Ms Chanda Kochhar, Executive Director, ICICI Bank, told Business Line, "SBI and ICICI Bank shared a lot of synergies in terms of the locations where we want to be at. However, many of HDFC Bank's ATM locations overlap with ours, so a similar tie-up does not make much sense at this time".

"ICICI Bank is keeping its options open for similar tie-ups with other banks in the future," she said.

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