Ron Delnevo, Managing Director of Bank Machine, believes 2009 need not be as gloomy as some are predicting and he urges all Financial Institutions to start lending again and to pass on interest rate cuts to their customers.

For months now doom and gloom have dominated newspaper front pages and TV news headlines. However, some people believe that the economy is being talked down and Ron Delnevo is one of those people. “ We have heard enough now about how bad the next few years will be. They will only be bad if we allow them to be. It is time to concentrate on improving the situation, not for wallowing in a pool of negativity.”

Mr. Delnevo believes the crucial issue is to get money into the hands of consumers again. He says that the focus recently has been too much on simply lowering interest rates. "It is true we need lower interest rates BUT that is only really window-dressing if money is not being lent. For example, there are many consumers who want to buy houses who are being denied loans even though there is no question that they can afford the repayments. Those people have not become bad risks overnight: they MUST be given mortgages to allow them to purchase homes”.

Commercial lending is also a major concern. “We are seeing businesses large and small go to the wall simply because the access to funding they have enjoyed for years has been shut off with next to no notice. This must STOP and the Bank of England has it in its power to ensure this happens”.

Mr. Delnevo is particularly concerned that some senior figures in the Financial Services Sector have recently been predicting both a further significant fall in house prices and Bank Lending in the next 12 to 24 months. “It is really unhelpful for people at the top of our Banks to be making such predictions. The lack of confidence engendered amongst the public by such dire predictions can lead to them becoming self-fulfilling prophecies”.

Instead of making damaging predictions, Mr. Delnevo believes Financial Institutions should be giving UK Businesses and the UK Public a helping hand. “The Bank of England is doing its bit. All Financial Institutions need to follow this lead by lending again at pre-crisis levels and passing on the lower interest rates. This should be across the board, on credit card outstanding balances and personal loans as well as mortgages”.

Ron Delnevo believes that if the Financial Services Sector does not respond positively to the new economic realities, there is a very real danger that the UK Government will be forced to take drastic steps. “No one really wants to see the UKs major High Street Banks Nationalised but that is a possible scenario if those Banks are seen as slowing down the recovery of the British economy. Whether it is fair or not, the blame for closed shops, longer dole queues and more home repossessions is likely to be placed squarely at the doors of the Banks”.

-ENDS-

Notes to Editors:

• Ron Delnevo has been Managing Director of Bank Machine for 8 years. He has risen to prominence in the Financial Services Sector and will be speaking at a number of conferences during 2009. The underlying theme of all his talks will be that the UK Public deserves better service in every respect.

• Bank Machine created the UK's independent ATM market ten years ago and now has over 2,500 cash machines in locations including cinemas, garage forecourts and retail outlets - ranging from Selfridges to convenience stores.

• Bank Machine operates both pay-to-use and free-to-use ATMs, with over 500 free-to-use ATMs installed in, for example, NHS hospitals, military bases, Universities and low-income areas.

• Based in Hatfield, Hertfordshire, Bank Machine (a division of Cardtronics Inc.) now has nearly 100 staff.

• For further information about Bank Machine, please visit its website (www.bankmachine.com) or contact Matt Flanders at Quintus Public Affairs on 0207 340 6290 / email matt.flanders@quintuspa.com