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23rd December 2011

BNP Paribas and IBM extend infrastructure JV

BNP Paribas and IBM have extended their joint venture, BNP Paribas Partners for Innovation (BP2I) for a further six year. The JV manages the bank's infrastructure and is owned 50/50. It was formed in 2004 and has supported the bank during a period of rapid expansion.

"Through this new agreement, IBM will continue to support the growth of the BNP Paribas thanks to the excellence of its services and to the high performance of its technologies," stated Jean-Laurent Bonnafe, CEO of BNP Paribas.

"The signing of this contract demonstrates the confidence BNP Paribas has in the expertise of IBM and reflects the intimacy and the involvement in this collaboration," said Alain Benichou, General Manager IBM France.