Execute batch update faster

In an old project, I have a table with 3 indices on 3 columns, I am executing batch queries (~= 5000 update queries) like UPDATE mytable set mycolumn = 'blah' when myIndexedColumn = 'someId'.

The executeBatch command, takes 1h:30 approximately, I use oracle 11g database, and Java 6, Spring batch also. The concerned table holds 1 700 000 rows.

Statement ps = null;
Connection connection = null;
	try {
		int counter = 0;
		connection = myDatasource.getConnection();
		connection.setAutoCommit(false);

		ps = connection.createStatement();

		for (String request : myListOfRequests) {
			ps.addBatch(request);		
		}
		ps.executeBatch();
		connection.commit();

	} catch (SQLException ex) {
		LOGGER.error("My Errors : {}", ex.getMessage());
	} finally {

		if (ps != null) {
            ps.clearBatch(); 
            ps.close();	
        }

		if (connection != null) connection.close();
	}

I have dropped the indices, but I didn't noticed a significant difference. I cannot use modern technologies. Also deleting and rebuilding a new table is not a secured task. So have you an idea how I can improve this task?

Solution, originally posted by jawad abbassi in the question:

Thanks to @curiosa, I have used preparedStatement instead of a statement in this way:

PreparedStatement ps = null;
Connection connection = null;
String sql =  "UPDATE MYTABLE SET COLUMN1 = ? WHERE COLUMN2 = ?";

try {

	connection = myDataSource.getConnection();
	connection.setAutoCommit(false);
	ps = connection.prepareStatement(sql);

	for (MyBean bean : myListOfBeans) {

		ps.setBigDecimal(1, bean.getColumn1());
		ps.setString(2, bean.getColumn2());
		ps.addBatch();

	}
	ps.executeBatch();

} catch (SQLException ex) {
	LOGGER.error("My errors : {}", ex.getMessage());
} finally {
	if (ps != null) {
		connection.commit();
		ps.close();	
		connection.close();
	}
}