Mandiri allocates $12M for IT development

The country’s biggest lender in term of assets, state-owned Bank Mandiri, has earmarked US$12 million for IT system development.

“In 2011 we allocate US$12 million, or about Rp 1 trillion, for our IT system development, with which we hope to be able to expand our services,” Bank Mandiri corporate banking director Fransiska Nelwan Mok said Saturday while addressing a workshop on transactional banking in Kuningan, West Java.

“Indonesia, as a country with large population and income per capita of US$2,500, will demand wider financial transaction services,” she said.