Bendigo and Adelaide bank is considering new names for the Bank of Cyprus.

Bendigo and Adelaide bank is considering new names for the Bank of Cyprus.

Speculation is mounting that Bendigo and Adelaide Bank is set to draw on Mediterranean heritage after it recently acquired Bank of Cyprus Australia.

The regional lender has lodged an application to reserve the name "Delphibank" and an associated logo.

Bendigo Bank is set to unveil the new name of its Bank of Cyprus unit in Melbourne later Thursday. A spokeswoman for Bendigo declined to comment.

Delphi is more broadly known tourist town in central Greece, widely known for its ancient ruins.

Last December Bendigo paid $130 million for the local arm of Bank of Cyprus, marking the European bank's exit from Australia.

Under the terms of the acquisition, Bendigo was to required to change the name of the local franchise.

Despite problems in its home market, Bank of Cyprus' 14 branches in Victoria, New South Wales and South Australia generate a strong performance. The Australian network has high levels of liquidity and its $1.4 billion lending book is in pristine shape.

Given the niche market of Bank of Cyprus' customer base, Bendigo has opted to continue to run bank with its own identity, rather than folding into its main franchise.