diff --git a/src/libs/CardUtils.ts b/src/libs/CardUtils.ts
index 2bebeefcf8050..e942e7bf1d14b 100644
--- a/src/libs/CardUtils.ts
+++ b/src/libs/CardUtils.ts
@@ -100,7 +100,11 @@ const feedNamesMapping = {
     [CONST.COMPANY_CARD.FEED_BANK_NAME.PEX]: CONST.COMPANY_CARDS.NON_CONNECTABLE_BANKS.PEX,
 } satisfies Partial<Record<CardFeed, BankName | NonConnectableBankName | CardTypeName>>;
 
-const feedNamesMappingKeys = Object.keys(feedNamesMapping) as Array<keyof typeof feedNamesMapping>;
+// Longest prefix first so e.g. AMEX_1205 matches before AMEX
+const feedNamesMappingKeysByLength = (Object.keys(feedNamesMapping) as Array<keyof typeof feedNamesMapping>).sort((a, b) => b.length - a.length);
+
+const GET_BANK_NAME_CACHE_MAX_SIZE = 200;
+const getBankNameCache = new Map<string, string>();
 
 /**
  * @returns string with a month in MM format
@@ -584,18 +588,25 @@ function getCompanyFeeds(cardFeeds: OnyxEntry<CombinedCardFeeds>, shouldFilterOu
 }
 
 function getBankName(feedType: CardFeedWithNumber | CardFeedWithDomainID): string {
-    if (feedType?.includes(CONST.COMPANY_CARD.FEED_BANK_NAME.CSV)) {
-        return CONST.COMPANY_CARDS.CARD_TYPE.CSV;
+    const cacheKey = feedType ?? '';
+    const cached = getBankNameCache.get(cacheKey);
+    if (cached !== undefined) {
+        return cached;
     }
 
-    // In existing OldDot setups other variations of feeds could exist, ex: vcf2, vcf3, oauth.americanexpressfdx.com 2003
-    const feedKey = feedNamesMappingKeys.find((feed) => feedType?.startsWith(feed));
-
-    if (!feedKey) {
-        return '';
+    let result: string;
+    if (feedType?.includes(CONST.COMPANY_CARD.FEED_BANK_NAME.CSV)) {
+        result = CONST.COMPANY_CARDS.CARD_TYPE.CSV;
+    } else {
+        const feedKey = feedNamesMappingKeysByLength.find((feed) => feedType?.startsWith(feed));
+        result = feedKey ? feedNamesMapping[feedKey] : '';
     }
 
-    return feedNamesMapping[feedKey];
+    if (getBankNameCache.size >= GET_BANK_NAME_CACHE_MAX_SIZE) {
+        getBankNameCache.clear();
+    }
+    getBankNameCache.set(cacheKey, result);
+    return result;
 }
 
 const getBankCardDetailsImage = (bank: BankName, illustrations: IllustrationsType, companyCardIllustrations: CompanyCardBankIcons): IconAsset => {
diff --git a/src/libs/SearchUIUtils.ts b/src/libs/SearchUIUtils.ts
index 8b02c72e4d9af..d7c02f238dda3 100644
--- a/src/libs/SearchUIUtils.ts
+++ b/src/libs/SearchUIUtils.ts
@@ -2474,6 +2474,7 @@ function getCardSections(
     cardList?: OnyxTypes.CardList,
 ): [TransactionCardGroupListItemType[], number] {
     const cardSections: Record<string, TransactionCardGroupListItemType> = {};
+    const cardDescriptionByCardID = new Map<number, string>();
 
     for (const key in data) {
         if (isGroupEntry(key)) {
@@ -2486,16 +2487,13 @@ function getCardSections(
             }
 
             const card = cardList?.[cardGroup.cardID];
-
-            cardSections[key] = {
-                groupedBy: CONST.SEARCH.GROUP_BY.CARD,
-                transactions: [],
-                transactionsQueryJSON,
-                ...personalDetails,
-                ...cardGroup,
-                formattedCardName:
-                    customCardNames?.[cardGroup.cardID] ??
-                    getCardDescription(
+            let formattedCardName = customCardNames?.[cardGroup.cardID];
+            if (formattedCardName === undefined) {
+                const cached = cardDescriptionByCardID.get(cardGroup.cardID);
+                if (cached !== undefined) {
+                    formattedCardName = cached;
+                } else {
+                    formattedCardName = getCardDescription(
                         {
                             cardID: cardGroup.cardID,
                             bank: cardGroup.bank,
@@ -2504,7 +2502,18 @@ function getCardSections(
                             lastFourPAN: cardGroup.lastFourPAN,
                         } as OnyxTypes.Card,
                         translate,
-                    ),
+                    );
+                    cardDescriptionByCardID.set(cardGroup.cardID, formattedCardName);
+                }
+            }
+
+            cardSections[key] = {
+                groupedBy: CONST.SEARCH.GROUP_BY.CARD,
+                transactions: [],
+                transactionsQueryJSON,
+                ...personalDetails,
+                ...cardGroup,
+                formattedCardName,
                 formattedFeedName: getFeedNameForDisplay(translate, cardGroup.bank as OnyxTypes.CompanyCardFeed, cardFeeds),
             };
         }
diff --git a/tests/unit/CardUtilsTest.ts b/tests/unit/CardUtilsTest.ts
index 2030b4aea896d..abd6be9f6c88a 100644
--- a/tests/unit/CardUtilsTest.ts
+++ b/tests/unit/CardUtilsTest.ts
@@ -1567,6 +1567,18 @@ describe('CardUtils', () => {
             const feedName = getBankName(feed as unknown as CompanyCardFeed);
             expect(feedName).toBe('');
         });
+
+        it('Should return the same value for repeated calls with the same feedType (cache)', () => {
+            const feed = CONST.COMPANY_CARD.FEED_BANK_NAME.CHASE;
+            expect(getBankName(feed)).toBe('Chase');
+            expect(getBankName(feed)).toBe('Chase');
+        });
+
+        it('Should match longest prefix first (e.g. AMEX_1205 before AMEX)', () => {
+            const feedWithAmex1205Prefix = `${CONST.COMPANY_CARD.FEED_BANK_NAME.AMEX_1205}something` as CompanyCardFeed;
+            const feedName = getBankName(feedWithAmex1205Prefix);
+            expect(feedName).toBe('American Express');
+        });
     });
 
     describe('getCardFeedIcon', () => {