Swiss bank Zuger Kantonalbank has announced that it has extended its existing ITO contract with CSC. The new seven-year contract, valued at $33 million, marks the renewal of a previous eight-year contract signed in 2002.

Under the agreement, CSC will continue to provide SAP-based applications services, including development, maintenance and support. Specifically, CSC will continue its 24x7 operation and management of Zuger’s SAP banking platform and add new functionality that enhances system efficiency and increases ease of use.

“With CSC’s support, we can continue to lower operating costs while increasing customer service,” said Beat Mathys, a Zuger Kantonalbank senior management executive. “This will enable us to further increase efficiency and improve our cost-income-ratio in the highly competitive retail banking market.”