The bank was not in the building and already had a naming sign on its headquarters building in Albert St.
This could be seen from a large area, including the North Shore.
The bank also had a billboard across the facade of the St James Theatre in Queen St.
It was suggested in the report that the bank signage was part of a city-wide branding campaign which would trigger requests from others and spoil the city's looks.
Companies pay up to $250,000 a year for "naming rights" on prominent office blocks.
Planning consultant Karl Cook said the bank wondered why it had to make a billboard application for a naming sign of less than 50sq m.
The waterfront building had a naming sign previously for Hewlett-Packard.
Mr Cook said few commercial buildings meant there ought to be no concerns about an opening of the signage floodgates.