Banco BBM belongs to the Country’s oldest privately owned financial group, founded in 1858.
Banco BBM Timeline Pass the cursor over each and every year to get acquainted with our history.
BBM was formerly known as Banco da Bahia, located in the city of Salvador. Since the beginning, its main business purpose was to extend funding to local agricultural producers. The company quickly evolved to become one of the few Brazilian banks authorized to issue currency.
Clemente Mariani takes over the management of the Institution and Banco da Bahia S.A. stands out as a commercial bank.
It becomes one of the main financial institutions operating in the foreign exchange market.
Clemente Mariani creates Banco da Bahia Investimentos S.A., benefiting from the advancements made in the Brazilian legislation, which included the recognition of investment banks as a new financial institution category.
The subsidiary Bahia Bank Ltd. starts its operations followed by subsequent opening of a Banco da Bahia S.A. branch in Nassau, Bahamas.
The merger of Banco da Bahia Investimentos S.A. with Banco da Bahia S.A. turned it into a multiple bank and changed its name to Banco BBM S.A.
Shareholders and economic partnerships are split between the Bank and third parties asset management, made through BBM Investments.
The Bank focus on credit activities for medium and big companies through its Corporate Credit area, as well as on financial advice, on asset management of individuals, on private banking activities, on investment funds distribution, and on treasury.
In May 2015, the shareholders of BBM’s controlling group and Bank of Communications (“BoCom”) have celebrated a Share Purchase Agreement for the acquisition of 80% of the total share capital of Banco BBM
Recreation of Large Corporate Platform
In November 30th, 2016, the acquisition of 80% of the total share capital of Banco BBM by The Bank of Communications was completed.