Standard Bank tech spending increased by an average of 7% per year over six years

[Jan]

Standard Bank increased tech spending to R22.4 billion in 2024

Standard Bank has published its group results for the financial year ended 31 December 2024, revealing a 2% increase in technology function spending to R22.4 billion.

According to the group, its technology spending has grown at a compound annual growth rate (CAGR) of 7% over the past six financial years.

 

[Chris.Geerdts]

Surely one strips out depreciation first before reporting on tech spend