National Bank of Canada (TSX: NA) and CGI Group Inc. (TSX: GIB.A) (NYSE: GIB) have signed a five-year information services contract valued at $350 million.
For 11 years, CGI has provided National Bank with application development and support services. Under the terms of the new contract, National Bank will continue to benefit from the expertise of CGI and its professionals in maintaining and developing its banking information systems.
"We are renewing our contract with this strategic Quebec partner because of the value of CGI's services and its knowledge of the banking industry," stated Louis Vachon, President and Chief Executive Officer of National Bank of Canada. "CGI's exceptionally skilled professionals will therefore continue to make a sustained contribution to the deployment of our business strategies."
"We are very pleased to provide National Bank with a wide range of high-quality IT services that contribute to the growth and success of its business," said Serge Godin, Founder and Executive Chairman of the Board of CGI. "CGI is privileged to have served National Bank for more than 10 years, and this contract renewal demonstrates once again the unwavering commitment of CGI professionals who work tirelessly to deliver world-class services to National Bank."
About National Bank of Canada
National Bank of Canada is an integrated group that provides
comprehensive financial services to consumers, small and
medium-sized enterprises and large corporations in its core
market, while offering specialized services to its clients
elsewhere in the world. National Bank offers a full array of
banking services, including retail, corporate and investment
banking. It is an active player on international capital
markets and, through its subsidiaries, is involved in
securities brokerage, insurance and wealth management as well
as mutual fund and retirement plan management. National Bank
has over $156 billion in assets and, together with its
subsidiaries, employs 19,431 people. The Bank's securities
are listed on the Toronto Stock Exchange (NA:TSX). For more
information, visit the Bank's website at .
About CGI
Founded in 1976, CGI Group Inc. is one of the largest
independent information technology and business process
services firms in the world. CGI and its affiliated companies
employ approximately 31,000 professionals. CGI provides
end-to-end IT and business process services to clients
worldwide from offices and centers of excellence in Canada,
the United States, Europe, and Asia Pacific. As at September
30, 2011, CGI's revenue was $4.3 billion and its order
backlog was $13.5 billion. CGI shares are listed on the TSX
(GIB.A) and the NYSE (GIB) and are included in both the Dow
Jones Sustainability Index and the FTSE4Good Index. Website:
.
Forward-Looking Statements
All statements in this press release that do not directly and
exclusively relate to historical facts constitute
"forward-looking statements" within the meaning of that term
in Section 27A of the United States Securities Act of 1933,
as amended, and Section 21E of the United States Securities
Exchange Act of 1934, as amended, and are "forward-looking
information" within the meaning of Canadian securities laws.
These statements and this information represent CGI's
intentions, plans, expectations and beliefs, and are subject
to risks, uncertainties and other factors, of which many are
beyond the control of the Company. These factors could cause
actual results to differ materially from such forward-looking
statements or forward-looking information. These factors
include but are not restricted to: the timing and size of new
contracts; acquisitions and other corporate developments; the
ability to attract and retain qualified members; market
competition in the rapidly evolving IT industry; general
economic and business conditions; foreign exchange and other
risks identified in the press release, in CGI's annual and
quarterly Management's Discussion and Analysis ("MD&A"), in
CGI's Annual Report, in CGI's Annual Report on Form 40-F
filed with the U.S. Securities and Exchange Commission (filed
on EDGAR at ), and in the Company's Annual Information Form
filed with the Canadian securities authorities (filed on
SEDAR at ), as well as assumptions regarding the foregoing.
The words "believe," "estimate," "expect," "intend,"
"anticipate," "foresee," "plan," and similar expressions and
variations thereof, identify certain of such forward-looking
statements or forward-looking information, which speak only
as of the date on which they are made. In particular,
statements relating to future performance are forward-looking
statements and forward-looking information. CGI disclaims any
intention or obligation to publicly update or revise any
forward-looking statements or forward-looking information,
whether as a result of new information, future events or
otherwise, except as required by applicable law. Readers are
cautioned not to place undue reliance on these
forward-looking statements or on this forward-looking
information.
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For more information:
Investors
Lorne Gorber
Senior Vice-President, Global Communications and Investor
Relations
CGI
lorne.gorber@cgi.com
514-841-3355
Media
Sébastien Barangé
Director, Communications and Public Affairs
CGI
sebastien.barange@cgi.com
514-841-3354
Claude
Breton
Senior Manager, Public Affairs
National Bank
claude.breton@bnc.ca
514-394-8644
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