Standard banking group The 2% increase in total technology in Thursday increased by R22.4 billion.
On Thursday, Standard Bank Group said that this figure was spent on the technology function for the year ended on December 31, 2024. This was 2% growth in 2023, 2% in 2023 was published on Thursday.
South Africa’s largest banking group, in accordance with the increase in expenses with total assets, increased the cost of cloud computing, as well as employees.
“Software-, cloud and technology expenses, higher cloud use, processing volume, system stability, system stability, infrastructure sustainability and contractual costs and increased contractual costs and increased contractual costs and increased from the contract.
R12.7 Billion went to the standard bank technology, software, cloud and general technology. This represents a 3% increase in R12.4 billion in the previous year. IT employees’ expenses came from R6.3 billion in the fiscal year in 2023 and 4% to 4% of R6.1 billion.
The other R2.5 billion related to other R917 million due to amortization of intangible assets to other related expenses.
Climbing
Standard Bank, the calculation in the public cloud “The trace of our carbon emissions was improved by developed agility, bolted system sustainability and technology.” The transition to Cloud services, “Care Expenditure Management” and “Significantly” declined the bank’s intangible net book, which has been a result of “major capitalized expenses”. Standard Bank’s physical server prints have declined 49% in South Africa since 2021.
Like most other banks, the standard bank’s technology expenditures rise in recent years. The Group represents R15.8 billion R15.8 billion in 2019, so in 2024, the growth rate of a 7% increase in R2.4 billion growth.
According to the bank, technology continues to play a key role in the implementation of the strategy in other parts of South Africa and in other parts of Africa.
Read: Digital Bank Revolut looks for South Africa launch
“Strategic initiatives supported by a strong balance sheet and effective source distribution of a powerful balance sheet and effective source, use the technology and innovation, through a special workforce, to surrender against the target of 2025 and support sustainable growth in South Africa,” he said. – © 2025 Newscentral Media
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