With the continued expansion of new financial institutions, it has become extremely difficult to find the right bank that will keep pace with your needs. Finding the right bank is very important, as it represents a sort of guarantee for your stable financial position, and the choice should be also based on its size, success and its reputation. However, you should first consider your needs as a customer, and the BMG bank in Brazil is undeniably something that any customer can count on.
This bank is a private financial institution and a leading player in Brazil’s payroll deduction credits. It is under the control of the Pentagna Guimaraes family, which has been involved in this area of finance and money since 1930. During that period, its services were connected to consumer financing and wholesale. Apart from this, the bank represented the leader in the financing of certain kinds of vehicles in the 1980s. Eighteen years later, the bank’s primary focus was providing loans and becoming the leader in this area. BMG signed an agreement with Itau Unibanco S.A. in July 2012, which represented the nest step in the distribution of commercialized payroll loans in Brazil. Two years later, these institutions decided to unite the business, which resulted in BMG owning 40% of the total capital stock.
BMG is doing its best to increase the success of its products by means of developing new businesses that will keep pace with the needs of its customers. By giving Itau Unibanco access to many banking customers in Brazil, the BMG will provide this bank with more experience in the sector of the banking industry.
Apart from this, the bank’s strategy is to expand its services throughout Brazil, which already has many sales. Another strategy is profitability, and this can be achieved by focusing on the loan portfolio growth, thus enabling its business to continue normally. Then, it is important to focus on a conservative credit policy, defined and strict levels, and on a team of professionals who will give a detailed analysis based on industry intelligence. Other important strategies are diversion of funding sources and operational efficiency focused on cost control.
Ricardo Guimarães represents the owner of the Banco BMG, and he serves as its President at the same time. Mr. Guimaraes has been its CEO since June 2004, thus greatly contributing to its success. His career began with the BMG S.A. de C.V. in 1980, and nine years later he was appointed their Financial Executive Officer. His role is to supervise and coordinate all the bank’s businesses. He is also connected to two Board Members in two different industries.
To conclude, in order to find the right bank, one should first consider his/her needs as a customer and then find a successful bank with a reliable reputation. With the BMG bank, one can have all this.

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