History
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Bank of Communications was founded in 1908 |
1908 | 1858 |
Established in 1858 in the city of Salvador with the name Banco da Bahia, it focused on the extension of credit to agricultural producers. |
- 1859
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It becomes one of the only Brazilian banks authorized to issue currency.
- 1909
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The bank becomes a currency issuer and remains so for 33 years.
- 1942
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Clemente Mariani leads Banco da Bahia to become one of Brazil’s pre-eminent commercial banks.
- 1973
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The bank makes the strategic decision to focus on the wholesale segment.
- 1987
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BoCom becomes the first large Chinese bank to be headquartered in Shanghai.
- 1998
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It becomes a multiple bank and changes its name to Banco BBM S.A..
- 2005
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BoCom is listed on the Hong Kong Stock Exchange, becoming the first large commercial bank to be listed abroad.
- 2007
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2007 BoCom becomes the first bank to be listed on both the Hong Kong and Shanghai Stock Exchanges.
Bank of Communications (BoCom) and shareholders of 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.
Alexandre Lowenkron has been named president of the Executive Committee, which defines the company’s strategies,
with Cassio von Gal and Leonardo Oliveira as vice presidents. The committee has six other new members, all of whom are
Brazilian executives: Breno Campos, Breno Figueiredo, Pedro Caldas, David Cohen, Luiz Augusto e Monique Verboonen.
The BOCOM BBM conglomerate has quadrupled in size in the last five years, thanks to strong growth in capital markets, derivatives, corporate credit, and asset management.
Banco BOCOM BBM became the first financial institution in Latin America to be a full member of CIPS
(Cross-Border Interbank Payment System).
After obtaining all regulatory approvals, in August 2024 the process of transferring 20% of the remaining Banco BOCOM BBM shares owned by the Mariani family to the Bank of Communications took place. The transfer was completed according to the sale option contracted in 2015 and exercised in 2021.