Operating costs in Group Centre grew by 31 per cent to $130 million for the six months ending March 2008 compared with the corresponding period the previous year.
The division, which includes technology, operations and shared services functions, oversees the bank`s AML initiative.
The spike coincided with a 32 per cent increase in the bank`s total software purchasing cost for the half year to March, from $60 million to $79 million. This hike drove the bank’s overall computing spend up six per cent to $299 million for that period.
ANZ didn`t provide detailed expenditure on AML compliance in today`s half yearly results.
Last July, the bank estimated in a risk management report presentation that it would spend $66 million over three years to achieve compliance with AML laws.
Headcount was also increased to help with AML processes, ANZ said.
Group Centre grew its 4755 employee base by 178 people to support the AML project, mainly creating more full time IT positions at the expense of contractors.
Breaking down its spend by geography, ANZ identified a 14 per cent increase in operating expenses across Europe, the US and South Asia, which includes its technology research and development facility in Bangalore, India.
It said an increase in personnel numbers in India drove some of the spending, but didn’t provide specifics.
ANZ also flagged increased costs in the institutional banking division, led by Peter Hodgson, as it commits to more technology investment as part of its plan to “increase revenue and take advantage of volatility in the market”.
