Internationally, it is customary to abbreviate bank names with more than three syllables in business transactions on the financial market and also in everyday language to a usually two-syllable word or a usually three-digit code. For example, Nassauische Sparkasse [seven syllables] becomes Naspa, Société Générale [seven syllables] becomes SocGen, or Bank of America Corporation [ten syllables] becomes BOA. – Some institutions have changed long company names on their own initiative, such as Schweizerische Kreditanstalt [eight syllables] to Credit Suisse. Others use only a sequence of letters in their business dealings, such as the Union Bank of Switzerland [seven syllables] – French: Union de Banques Suisses [five syllables], Italian: Unione di Banche Svizzere [nine syllables] – which officially adopted the proper name UBS and operates under this designation worldwide. A long name is widely regarded as having an adverse impact in terms of image: it is associated with a cumbersome, clumsy, and awkward way of doing business. The European Central Bank [eight syllables] also usually abbreviates its name to ECB in its own publications, and the German Federal Financial Supervisory Authority [twelve syllables] uses the two-syllable abbreviation BaFin. – See Badwill, Octopus, Competition.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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