BANKIA SA 
By • Outsourcing of services will allow savings of €200 million over the life of the contract
• The deal involves nearly 100 bank employees joining the IBM
group
Madrid, 21/12/2012. Bankia today has signed a technology services agreement with IBM under which the company will help the bank transform its technological infrastructure area. The arrangement will allow the bank to boost its efficiency and competitiveness, improve customer service and attain cumulative savings of €200 million.
The contract will enter into effect on 1 January 2013 for a term of 10 years. It will provide a framework within which Bankia and IBM will set up a joint venture to provide technology services to the bank.
Bankia will transfer nearly 100 people to the company under the outsourcing arrangement.
Bankia's general director for People, Organisation and Technology, Antonio Ortega, and the head of IBM Spain, Portugal, Greece and Israel, Juan Antonio Zufiria, presided over this morning's signing ceremony.
Antonio Ortega stated that "this agreement marks an advance in the measures we charted out for ourselves to avoid traumatic staffing cuts, as per the commitment we made this past 28 November after the Strategic Plan's approval by the competent authorities".
Ortega added that "this will generate greater efficiency in the technological infrastructure area of the bank and help enhance the quality of the service we provide to our customers, which is the base on which the bank pivots".
IBM's general manager for Spain, Portugal, Greece and Israel, Juan Antonio Zufiria, pointed out that "under the agreement signed today, we will place at Bankia's service all of our technological capacity and experience in the financial sector and in outsourcing services, in order to support the bank in the process
of transforming its business to make it more competitive". "Also, we are pleased
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to be joined by this group of Bankia professionals, who will have the opportunity to pursue their careers and expand their professional horizons in a new organisation within the IBM group. From here, I wish them a warm welcome".
Bankia Communication (bankiacomunicacion@bankia.com) Juan Emilio Maíllo 689 869 034 (jmaillo@bankia.com) Susana R. Arenes 616 404 696 (srarenes@bankia.com) Mariano Utrilla 691 827 401 (mutrilla@bankia.com) Carmen de Miguel 679 982 792 (cmiguelh@bankia.com)
IBM
Patricia Núñez 91 3977782 (patricia.nunez@es.ibm.com) Alfonso González 91 3977675 (alfonso_gonzalez@es.ibm.com)
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