The Bank takes note of the court's decision with satisfaction

The Banque Cantonale de Genève (BCGE) notes with satisfaction the ruling in its favour by the Geneva Court of Appeal in the dispute with a former IT service provider.

The Bank and its former IT outsourcing provider had submitted to the Geneva courts a dispute over various services and the way in which they were invoiced. The Court of First Instance of Geneva ordered the former service provider to pay the bank CHF 46.8 million (with interest). This ruling is subject to appeal.