Commonwealth Bank of Australia on Wednesday announced the extension of its Gen-i Australasia telecommunication services relationship to Feb 2009.

Under the current agreement, Gen-i provides the Bank with managed voice and data services to all staff in Australia.

The Bank will gain cost savings in the financial year from additional price reductions through the migration of services to the new AAPT/Powertel network.

Gen-i, Telecom's New Zealand's Business ICT Services arm has been providing the CBA with the majority of its managed telecommunications since 2000.

Rhoda Holmes, General Manager of Gen-I Australasia said both companies' partnership will also help develop a long term strategy and roadmap for the Bank's telecommunications and ICT services.