ICICI Bank Canada Selects CGI for Five-Year Contract
CGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology and business process services, announced today the signing of a five-year contract whereby CGI will maintain ICICI Bank Canada's High Interest Investment Saving Account on CGI's PrimeSuite recordkeeping platform.
PrimeSuite, a comprehensive set of enterprise strength software products will allow brokers and dealers to access and sell the High Interest Investment Savings Account through the FundSERV utility.
"CGI approached us with a comprehensive suite of wealth management solutions which are not only cost efficient, but flexible enough to evolve with the industry and keep pace with our growth objectives. We are pleased to begin building our relationship with CGI." said Rajesh Ramakrishnan, Vice President, Retail Banking & Operations, ICICI Bank Canada.
"ICICI Bank Canada has built upon the solid reputation of its parent company, ICICI Bank Limited, India's largest private sector bank," said Jamie Holland, Senior Vice-President, Greater Toronto Area, CGI. "We are pleased to partner with ICICI Bank Canada and are glad that they rely on us to improve efficiency, reduce complexity and ensure compliance."
For more than 30 years, CGI has provided IT, business process and managed services to financial institutions around the world, including 24 of the top 25 banks in the Americas and 17 of the top 25 European banks. CGI banking-focused solutions include core banking, wealth management, trade finance, business intelligence/data warehousing and customer relationship management.
Founded in 1976, CGI is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 26,000 professionals in over 100 offices across 16 countries. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States of America, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annualized revenue run rate is currently $3.8 billion and as at June 30, 2009, its order backlog was $11.8 billion. CGI's shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com.
About ICICI Bank
ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited (NYSE:IBN), is a full-service direct bank with an asset base of C$6.3 billion as of June 30, 2009, offering a comprehensive suite of personal, commercial and cross-border banking products and services. The Bank is supported by a state-of-the-art electronic banking platform (icicibank.ca), a 24-hour toll-free customer contact centre and proprietary ABMs. It has established its branch network in the Greater Toronto Area, Greater Vancouver Regional District and Alberta. The parent company, ICICI Bank Limited, is India's largest private sector bank as measured by asset base.
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 sections 138.3 and following of the Ontario Securities Act. 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 and 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 MD&A, in CGI's Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), the Company's Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), 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. You will find more information about the risks that could cause our actual results to significantly differ from our current expectations in the Risks and Uncertainties section.
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