History

The Bank originated in the 1940s, in the central-northern region of the state of Minas Gerais, in the city of Curvelo where it was founded by local businessmen. In 1953, under the name Mercantil de Minas Gerais, the Bank was acquired by Mr. Oswaldo de Araújo and Mr. Vicente de Araújo, who relocated its headquarters to Belo Horizonte, starting thereafter the Bank’s tradition of safety and solidity based on a philosophy of ongoing growth.

Over the following years, new shareholders were integrated into the management including the current Chairman of the Board of Directors and the Executive Committee, Mr. Milton de Araújo.

In 1955, Banco Mercantil de Minas Gerais purchased Banco Industrial Minas Gerais. During 1960’s after the acquisition of the Santa Cruz and Metrópole banks, both from Rio de Janeiro, the number of branches increased from 4 to 52.

Keeping pace with the increasing development of the country, in the 1970’s, two other banks were incorporated: Industrial de Campina Grande and Mercantil do Brasil, the latter name being used by the institution since then. These changes allowed the Bank to start the 1980s with approximately 100 branches.

In 1999 the Bank renewed its brand and upgraded its branches in order to project a modern image to its customers and the market. The Management goals aim at valorising and strengthening Mercantil do Brasil's brand in accordance with providing adequate services for its customer profile.

Nowadays, Mercantil do Brasil has 150 branches, 28 Eletronic Services Units – PAE, 01 foreign branch on Grand Cayman Island and a staff of 2,624 employees strategically located in the main geo-economic centres of Brazil, mainly in the south-east of the country, especially in Minas Gerais and the interior of São Paulo.