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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.
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Publication:Indonesian Commercial Newsletter
Date:Jan 1, 2010
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