"After an exhaustive market review we determined that Telstra was the company best positioned to provide Bank of Queensland with the coverage, reliability and ongoing investment in technology we need to drive innovation and performance," said group executive IT and operations, Jim Stabback.
The new three-year contract is worth $21 million. It covers fixed and mobile services for voice and data.
"Telstra has a long and strong relationship with the financial services industry, offering a specialised understanding of the ever-increasing commercial challenges faced by banks,” said Chris Lowe, Telstra enterprise and government state director for Queensland.
"We know that helping our banking customers to enhance their customer satisfaction through ICT investment is key to business continuity and growth in the sector."