BMG (Banco de Minas Gerais S.A. is an eighty-something-year-old bank established in 1930. It’s a premier Brazil-based bank born into the infamous Guimarães family. It’s kept ahead since inception and has generated substantial revenue. As a global brand of the banking industry, BMG has capped impressive sales, profits and governs a robust workforce. Initially, it focused on wholesale and consumer lending. In 1999, the bank piloted an expansion to include services such as retirement/pension plans, real estate investing, credit card payrolling and car financing.
Amazingly, BMG has retained long-term alliance with investors and partners as a specialized creditor of financial products. A sampling included used car financing, payroll credit-card service, BMG Realiza (personalized home-equity investments), BMG-Empresas and more. Banco Itaú BMG Consignado S.A., a subsidiary of the same bank handles payroll loan financing. BMG controls an estimated forty percent of the voting capital and shares. With an extensive knowledge of financial market trends, BMG is an exemplary leader. It’s renowned for its revolutionary technology, tradition, and impressive leadership.
The bank has a reputation for securing and managing high-profile credit portfolios. It’s adopted corporate governance policies and practices. With dependable board members, that take a particular interest in keeping BMG transparent and ethical, it continues to strive. It uses high-level security and AML (Anti-Money Laundering) initiative to protect investors’ interest. The renowned Guimarães family are particularly admired for their unmatched credibility of offering first-rate commercial banking solutions to the corporate network and individuals.
Marcio Alaor, appointed as BMG’s director of operations and vice president plays a core role in strengthening the bank’s corporate presence. Brazilian investors, consumers, and business interest all admire the sophisticated financial services BMG extends. He’s put emphasis on diversifying the bank’s investment and funding practices. This has encouraged substantial savings for BMG in recent years. With the bank’s employees in mind, Mr. Alaor has invested in improving resources to maximize productivity.
With bank agents/correspondents nationwide, BMG controls a large market share. It’s partnership extends to 1, 044 bank Representatives and 30, 000 payroll agents. It recorded an estimated R$352 million in net profit for the first quarter of 2010. In comparison to the previous financial year, BMG recorded substantial growth. Additionally, it reported an impressive sales ledger of 3, 098 POS (Points Of Sale). BMG has an extensive client population of over 4 million and the numbers to grow. The CEO of BMG, Ricardo Guimarães has established himself among the best Brazilian executives. In 2010, Banco BMG received the “best banking group” award. BMG Bank is actively involved in improving support efforts throughout Brazil.