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If all the column values are prefixed with Bank and suffixed with Group-BUG then you can use the following formula
TRIM(BOTH FROM REPLACE(REPLACE("COUNTRY_TABLE"."COUNTRY_COLUMN", 'Bank',' '), 'group-BUG', ' ')).
You can use the same in SQL query.
Its better to populate the Country dimension with proper values instead of doing this in OBIEE.
If it's only 6 values you need to change (and not the 500!!) you could use a case statement in the report column formula.
An example of the syntax is:
CASE ("GL Calendar"."Fiscal Period Number")
WHEN 1 THEN 'January'
WHEN 2 THEN 'February'
So here I'm taking the period number and converting into a period name so you can use the syntax and substitute into this your column and values.
If its 500 values you might need a more technical solution (e.g. add another column to the dimension and change the ETL to populate this, or have a static lookup table you can use)
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