Bank Mandiri to spend $30m on IT

BALIKPAPAN, East Kalimantan: State-controlled Bank Mandiri, the nation's largest lender by assets, is allocating US$30 million this year to expand and upgrade its information technology (IT) facilities, including the installing of 120 new automatic teller machines (ATMs).

"The amount is more or less the same as we spent last year. Most of the funds will be spent on ATMs, and for installing an IT system in new branches," Bank Mandiri chief information technology officer Andreas E. Susetyo said here on Wednesday.

Andreas said the bank would set up about 120 new branches throughout the country this year in order to expand its distribution and service chains. At present, the bank has 829 branches and about 2,730 ATMs. -- JP