In Bipartite Correlation Clustering (BCC) we are given a complete bipartite graph $G$ with `+' and `-' edges, and we seek a vertex clustering that maximizes the number of agreements: the number of all `+' edges within clusters plus all `-' edges cut across clusters. BCC is known to be NP-hard. We present a novel approximation algorithm for $k$-BCC, a variant of BCC with an upper bound $k$ on the number of clusters. Our algorithm outputs a $k$-clustering that provably achieves a number of agreements within a multiplicative ${(1-δ)}$-factor from the optimal, for any desired accuracy $δ$. It relies on solving a combinatorially constrained bilinear maximization on the bi-adjacency matrix of $G$. It runs in time exponential in $k$ and $δ^{-1}$, but linear in the size of the input. Further, we show that, in the (unconstrained) BCC setting, an ${(1-δ)}$-approximation can be achieved by $O(δ^{-1})$ clusters regardless of the size of the graph. In turn, our $k$-BCC algorithm implies an Efficient PTAS for the BCC objective of maximizing agreements.