EMBATTLED Anglo Irish Bank is overhauling its image with a complete rebrand, paid for by the Irish taxpayer.
The name change and facelift, which is set to be carried out by marketing consultants, is expected to cost hundreds of thousands of euro.
The bank has invited expressions of interest to assist in the brand change for Anglo to "overcome the impact of decisions made in the past and to become a constructive component of a reformed Irish banking structure".
A representative for Anglo has outlined that it does not have a budget in mind for the job, but analysts have indicated that a job like this could run into hundreds of thousands of euro.
And Dublin-based Bradley McGurk brand consultants said that the rebranding could be a positive move for the beleaguered bank.
"The Anglo brand has lost credibility," said Andrew Bradley, partner at Bradley McGurk. "They could be on to something, giving it a new name, and should be brave. They have to create a new image."