Europe

Europe

Loomis operates in 14 European countries and is well positioned for continued growth in Europe. The market for cash handling services differs greatly between countries.In Northern Europe the level of outsourcing is high and demand for cash handling is substantial. In Southern and Eastern Europe, many banks are still managing their cash internally, but there is a clear trend whereby more and more are outsourcing cash management to specialized cash handling companies like Loomis.

Outsourcing

In parts of Europe, the commercial banks have outsourced their entire cash management. The countries where the development is most advanced are Finland, Norway, Spain and Sweden. France, Switzerland, United Kingdom and Austria have not come as far. In Denmark, Portugal, Slovakia, Turkey and the Czech Republic the banks themselves still manage a great part of the cash management.

Growth potential

In Europe as a whole, Loomis sees an increased need for cash handling solutions among retailers, including both Cash in Transit (CIT) and Cash Management Services (CMS). Another trend is the increasing demand for customized solutions for ATMs. Loomis' ambition is to extend the supply for these services and increase the market share.