Bank Mandiri to spend US$75 million in it.
State lender PT Bank Mandiri said it will invest US$ 75 million to
improve its information technology infrastructure. The spending is 25%
higher than last years' US$ 60 year. Sasmita, the technology
director of the country's largest bank in assets, said electronic
transactions already made up 82% of its total transactions in 2009, up
from 67% in 2008. The users of Internet Banking already reached 1.2
million persons by the end of last year up from 100,000 early that year.
Bank Mandiri also plans to increase the number of its automatic teller
machines (ATM) by 1,500 units and Electronic Data Capture (EDC) by
60,000 units to increase. By the end of 20'10, the number of its
ATMs is expected to reach 6,000 units and its EDC to rise to 90,000
units. Meanwhile, the government said it will study options to increase
the public shares in Bank Mandiri that it would be entitled to tax
incentives. A bank is entitled to tax incentive if at leats 40% of their
share is held by the public. Bank Mandiri is 32.6% owned by the public.