German bank Hypo-Vereinsbank to change name

Munich - German bank Hypo-Vereinsbank (HVB) is to change its name in order to avoid being confused with the stricken Hypo Real Estate Bank, its chief executive told Sueddeutsche Zeitung Wednesday. HVB was taken over four years ago by Italian bank UniCredit, and will now assume that name, chief executive Theodor Weimar said in an interview with the Munich-based paper. Customers were worried by associations with the stricken Hypo Real Estate bank, propped up by a 100-billion-euro (140-billion- dollar) rescue package, Weimer added. 'It is bad, if our own customers confuse us,' Weimar said. 'But it is even worse if potential customers confuse us,' the chief executive added.

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