A Liechtenstein-based bank has changed its name after a Chinese investor took charge of the company. With the new brand, the owners hope to impress potential customers as far away as Hong Kong.
The history of Valartis Bank (Liechtenstein) is full of twists and turns. The latest is a rebranding into Bendura Bank. The company has registered the name with the country's trade register office, it said in a statement.
Bendura has a Celtic origin with two elements of «Ben» and «Duro» (gate, fortress). It also refers to the architecture of its headquarters (see picture) and the municipality of Bendern in Liechtenstein, where the bank is based.
Gate Opener
The company owners initially wanted to rename the bank into Licorium Bank. That would have been more Roman than Celtic.
The majority shareholder, jewelry group Citychamp Watch & Jewellery (CWJ) in Hong Kong, intends to act as gate opener for Bendura. CWJ is set to pave the way for Bendura to establish its business in Asia, according to the statement.
Snow Polo
The bank also aims to use synergies with the Corum luxury watch brand – a sister company – for marketing purposes. Both companies have the same target audience.
Bendura and Corum had their first joint appearance at the Snow Polo World Cup 2017 in Kitzbuehel, Austria.
New Era
Whether the bank will be able to establish a new, more prosperous era under a new name has yet to be seen. Valartis Bank (Liechtenstein) has had a tough 2016 with a hacker attack and the approval of its sale by Switzerland's Valartis Group to CWJ.
The bank will report earnings in April.
