The contract is part of the bank’s consolidation and expansion program in the country, in a bid to boost its banking security and services for better customer services.

Commenting on the deal, Gunnebo president and CEO Per Borgvall said that the order is a milestone for Gunnebo’s development in South America.

"BBVA is one of our key customers in Europe, and we won this order very much thanks to our ability to deliver the same high-quality products and services on a global scale," Borgvall added.

Spain-based financial group BBVA Bancomer offers an array of products and financial services and its subsidiary BBVA Bancomer in Mexico manages 7,900 ATMs and 2,000 branch offices across the country.

Founded in 2010 and operating as a subsidiary of Gunnebo Security Group, Gunnebo Mexico offers security services and caters most of the banks of Mexican and Spanish origin and other security consumers.

Gunnebo core business areas include bank security & cash handling, entrance control, secure storage, and global services.