May 23rd, 2005
Indonesian banks to increase IT spending by 34%
Financial Insights forecasts that Indonesian banks will spend approximately $450 mln on IT and related financial technology by the end of 2005, representing a year-on-year growth of 34%. This will grow to more than $500 mln in 2006. The ten largest banks’ share of total bank IT spending is set to grow from about 70% in 2005 to 75% in 2009.
Alex is a software engineer in the San Francisco Bay Area. ITFacts is created and updated by a group of statistics-obsessed individuals.
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