The contract, which has a five-year base period and three one-year options, is valued at approximately $81 million (500 million NOK) if all options are exercised.

Under the agreement, CSC will provide IT support services to two DnB NOR subsidiaries. These include DnB NOR Kort, which provides consumer finance and credit card services, and DnB NOR Finans, which offers real estate and automobile financing. CSC will continue to provide help desk support and mainframe and network services from its data center in Copenhagen. CSC will also provide applications development and maintenance, and financial IT support services, such as credit card processing. The new contract also includes provisions for future work with other parts of DnB NOR.

"After a thorough tender process, we chose CSC based on their strong competence within banking, insurance and finance, combined with their ability to deliver services internationally," said Helge Forfang, DnB NOR Risk Management and IT Group director. "The agreement opens new opportunities to us, and it is exciting to work with an international company like CSC."

"This contract extends CSC's 13-year relationship with DnB NOR," said Pete George, president of CSC's Nordic Region. "We look forward to continuing our work together and to delivering tangible results that help DnB NOR remain at the forefront of Norway's financial services industry."