Absa's total IT spend increased to R8.8 billion

[Luis]

Absa IT spend is 28% of all operating costs

Absa has published its interim results for the six months ended 30 June 2026, which showed that its total IT spend increased 7% to R8.8 billion, or 28% of group expenses.

The bank explained that the total included direct costs relating to information technology (IT), IT staff, and amortisation and depreciation of IT equipment.

 

[shooter69]

I am going to guess a lot of it is related to AI.
Training, licenses, tokens, more expensive notebooks(memmory shortage due to ai) ect.....

 

[Quixotic]

So much impairment and so much on IT yet more fraud still. Can only be BEE Infested and ANC cloned incompetence. Can't even run a bank