PT Bank Rakyat Indonesia (Persero) Tbk is raising its 2017 capital expenditure to 5 trillion rupiah to boost its information technology systems, the Jakarta Globe reported Dec. 18, citing the bank's finance director, Haru Koesmahargyo.
Part — 2.4 trillion rupiah — will be allocated to upgrading the bank's IT system. The remainder of the budget will go to the expansion of the bank's branch office network and operations.
The bank's total planned capital expenditure is up 11% from 4.5 trillion rupiah in 2016, Koesmahargyo added.
The lender also allotted 4 trillion rupiah for acquisitions and capital injections into its subsidiaries.
Bank Rakyat Indonesia is looking to acquire a brokerage for 2 trillion rupiah as part of its goal to add a small lender, an insurance company and a brokerage to its business scope.
As of Dec. 19, US$1 was equivalent to 13,388 Indonesian rupiah.