Bank Mandiri to invest US$130 million in IT

Indonesia’s largest lender will use the investment to improve its information technology system to increase its efficiency.

CFO Pahala Mansury said the number of the lender’s customers has been growing and a new system will help meet their needs and improve service. Pahala said Bank Mandiri adds one million new customers. every year.

Last year, Bank Mandiri set aside US$85 million to boost its IT system. This year’s capital expenditure will be 50% more than the total for 2012.

Part of the funds will be used to boost the company’s Internet banking service. The rest will be used to bolster its wholesale payment system and cash management system.

Bank Mandiri has been increasing its presence in Indonesia and aims to become one of the top three lenders in Southeast Asia within the next three years. It also plans to sell some US$800 million worth of dollar-denominated bonds this year to boost lending.