That's right, no fireworks, no colorful media headlines. The deal's done.

But the truth is it's a far cry from the original deal inked in 1997. That was a 10-year, A$5 billion partnership.

The new deal is missing a few well-rounded zeros in the final figure and only covers the provision of mainframe and mid-range data processing services through to June 2012.

While the reduced extension was expected, IT executives at the bank point out that the financial institution has been heading in this direction for years.

"We moved to selective sourcing a long time ago," executives said, adding that there was no value in moving away from EDS completely.