BANK of America (Asia) yesterday opened a branch in Devon House, Quarry Bay, the first new outlet since it changed its name from Security Pacific Asian Bank (SPAB) in July.
The name change was designed to signify the bank's close connection with its parent company.
The new name and branch are seen as signs of Bank of America's return to retail banking in Asia, after it pulled out of the territory's retail sector in the mid-1980s.
When Bank of America merged with Security Pacific Bank 18 months ago to create one of the largest banking corporations in the US, it gained SPAB.
After months of speculation over a possible sale of SPAB it announced the name change to quell rumours of a ''fire sale''.
Including the new branch, the bank now has 20 branches in Hong Kong and two in Macau.