The information technology (IT) integration of the merged Bendigo and Adelaide Bank (BAB) has been finished, according to the bank's half year results released today.
"All major IT and systems integration complete," the bank reported in its presentation this morning, covering the half year to 31 December 2009. The two previously independent banks had made the move to merge in 2007.
BAB had also achieved 90 per cent of the cost savings it expected to glean via the general integration, coming out at just over $50 million.
Savings were to come from areas such as reduced spending on IT applications, communications, software licences and data processing to be delivered by shifting processes onto common platforms.
However, not everything has been moved onto one platform, according to an interview Computerworld held with the bank's CIO Andrew Watts late last year.
He said that the banks had integrated branch systems, treasury, HR and finance platforms, but would retain both core banking systems, united by a common front end. The banks have previously said that they run the same core banking system.
BAB's results today showed a slight rise in IT costs. Operating costs for IT systems rose from $27.8 million for the six months to 31 December 2008 to $29.7 million for the six months to 31 December 2009. This rise came on the back of a reduction for the half year to 30 June 2009, where the operating expenses for information technology only came to $25.6 million.