BOCOM BBM is the result of an association between two banks with a long history and a solid tradition. On one hand, Bank of Communications, one of the oldest financial institutions in China. On the other, Banco BBM, the oldest private financial group in Brazil.
Bank of Communications was founded in 1908
Established in 1858 in the city of Salvador with the name Banco da Bahia, it focused on the extension of credit to agricultural producers.
It becomes one of the only Brazilian banks authorized to issue currency.
The bank becomes a currency issuer
and remains so for 33 years.
Clemente Mariani leads Banco da Bahia to become one of Brazil’s pre-eminent commercial banks.
The bank makes the strategic decision to focus on the wholesale segment.
BoCom becomes the first large Chinese bank to be headquartered in Shanghai.
It becomes a multiple bank and changes its name to Banco BBM S.A..
BoCom is listed on the Hong Kong Stock Exchange, becoming the first large commercial bank to be listed abroad.
BoCom becomes the first bank to be listed on both the Hong Kong and Shanghai Stock Exchanges.
Bank of Communications (BoCom) and shareholders belonging to
Banco BBM's controlling group sign a Share Purchase Agreement of 80% of the Bank's equity.
The aquisition process of 80% of Banco BBM's equity
by Bank of Communications is concluded, giving rise to Banco BOCOM BBM S.A.
The bank starts using the name Banco BOCOM BBM S.A.