Bank of Melbourne revived by Westpac

Westpac will resurrect the Bank of Melbourne brand in Victoria, The Australian reports. The bank will announce the decision - no doubt coinciding with an advertising push - today.

The decision means Westpac will be promoting four bank brands, and one non-bank brand, in the Australian consumer market: Westpac, St George, Bank of South Australia, Bank of Melbourne and Rams.

Some new Westpac group branches in Victoria will carry the Bank of Melbourne branding, the newspaper reports. The re-branding of some existing branches, perhaps those trading at present under the St George banner, is also a possibility.

Westpac acquired Bank of Melbourne (itself a former building society) in 1997. The bank dropped the BOM brand in 2004 (as well as the Challenge Bank brand in Western Australia).

Talk of introducing a further bank brand, whether BOM or an entirely new brand, has circulated for two years. The latter option would follow the course set by National Australia Bank with its UBank brand.