Itau Plans US$136mn IT Investment 2001
Bnamericas Published: Monday, December 11, 2000
Brazil's Banco #Itau# will invest US$35.4mn (R$70mn) in Internet and US$101mn (R$200mn) in other technology next year, investor relations manager Geraldo Soares told BNamericas.com. The investment is a general upgrade of the bank's technology and online operations in order to stay at the forefront in these two areas, Soares said. A large portion of the investment will go to purchasing servers, improving security and training staff, he said. To expand its online operations, Itau is in talks with three international technology companies to form partnerships for online B2B ventures, Soares said, without identifying them. Itau is Brazil's second largest private bank in terms of assets.
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