The Bank of Bermuda is considering whether to outsource its Bermuda-based IT department - but has promised none of the 100 jobs will be lost.

The bank is discussing a deal with EDS on taking over its technology arm, known as the Information Service Department based in Par-la-Ville Road and the issue is being discussed with staff. Other firms are also bidding for the work.

A bank spokeswoman said: "We are involved in a process to thoroughly explore the viability of outsourcing our IT services and have been talking to potential suppliers.

"We are looking at the long term development of the bank and reviewing how best to access the level of technology and IT support we are likely to need in the years ahead," she explained. "Until this process is complete no decision can be made so we do not have any public announcements to make at this stage.

"Communicating and consulting with our IT staff is a critical part of this process and their questions and comments are actively being sought. Whatever the final decision we anticipate employees will either stay with the bank or be offered jobs with the supplier."

She said a further statement was likely later this year.