Commonwealth Bank is generally reckoned to be the market leader when it comes to bank technology deployment in Australia — but it still managed to spend less on many areas of IT over the last six months than before. Here’s where CommBank spends its money on IT services.
According to its newly-released half-year report, CommBank’s overall IT services expenditures from July to December were $628 million. That was down 5 per cent from the previous half, owing mostly to ongoing software amortisation. Despite that, the bank said its overall increase in operating expenses (up 3% to $4914 million) was partly due to “technology-related investments”, though these were “partly offset by continued productivity benefits”.
Here’s where the money got spent (all figures are in millions):
|IT Services||31 Dec 14||30 Jun 14||31 Dec 13|
|Application maintenance and development||197||204||208|
|Amortisation of software assets||143||198||130|
|IT equipment depreciation||31||31||31|