IT-related banking expenses up 15% in 2010, Febraban study shows

- Wednesday, May 4, 2011

IT-related banking expenses up 15% in 2010, Febraban study shows

IT-related expenses in Brazil's banking industry increased 15% last year to 22bn reais (US$13.8bn), according to a new study by local banking association Febraban.

The number of internet banking transactions by Brazilians last year jumped 26.7% to 12.8bn, representing 23% of all transactions made in the country in 2010, Febraban said. Overall, the number of banking transactions increased 14%, to 55.7bn.

E-banking clients also increased by 8% to 38mn, while the number of m-banking clients surged 72% to 2.2mn, the study showed.

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Go to this link to read the full Febraban study, in Portuguese.