Tata Consultancy Services will provide a range of technology outsourcing services to the Commercialbank of Qatar as part of a five-year deal worth ‘tens of millions of dollars'.
TCS will provide application development and maintenance and render back-office or BPO services to the Doha-headquartered Commercialbank, sources said.
However, the current arrangement is a complete services deal and does not provide for the deployment of TCS BaNCS, the company's flagship suite of software products.
The TCS Chief Executive Officer and Managing Director, Mr N. Chandrasekaran, said the company would not comment on individual client wins.
A statement on the Commercialbank Web site said, “The agreement has an initial term of five years, and provides the basis for a strategic relationship between Commercialbank and TCS under which TCS can also provide services to other companies affiliated to Commercialbank.”
Commercialbank has strategic partnerships with associated banks such as the National Bank of Oman and United Arab Bank, it said.
With total assets of QAR 70.4 billion (Rs 95,040 crore ) as on September 30 this year, Commercialbank is a full services bank that offers a range of corporate, retail, Islamic, and investment banking services.
The Qatar Exchange-listed bank's countrywide network includes 34 full service branches and 148 ATMs.
In the last few quarters, TCS has been steadily adding new clients to its financial services practise which accounts for a lion's share of its overall revenues.