The banking group spent R7.5-billion on IT licences, maintenance and related costs in the 2019 financial year, up 17%, due to the weaker rand and costs associated with its move to the cloud.
South Africa’s big four retail and commercial banks spent in excess of R30bn on IT in the 12 months to end-June 2016, including the cost of staff involved in this function. Excluding the cost of people, nearly R15 out of every R100 spent on
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