Banco BMG Success Story On Conquering The Brazil Banking Sector

Banco BMG is a privately owned Brazilian bank. The bank is owned by the Pentagna Guimaraes Family. It currently headed by CEO and President Ricardo Guimaraes. Ricardo Guimaraes joined BMG in the early1980’s but has risen through the ranks steadily. Before his appointment in 2004, Ricardo Guimaraes served the organization in various positions in capacities including an executive financial officer, director, and Board Vice-president. His background in finance and management has been vital in the success of the organization as it expands to capture the untapped resources in Brazil.
Soccer is one of the leading sports in Brazil. Banco BMG sponsors many football clubs both in the major league and the lesser league. One such football club that has enjoyed such privileges is Santos. Santos is famous for being the club that the talented Brazilian football superstar Neymar Jr. played for before moving to Barcelona. It also sponsors the youth I the street through education scholarships and holding soccer competition. The activities not only make the BMG brand strong but also bring out its philanthropic nature to the rest of the society.
Banco BMG success is down to hard work of all the team members. The organization works towards maintaining its existing customers by giving them world-class customer service. The strategy not only works for the existing customers but also for those customers intending to join the organization. Banco BMG is the pioneer in the banking segment that offers cheap and affordable loans. The group occupies more than 60% of the market segment in Brazil.
BMG success in the banking market has been very gradual. The economic stability of the Brazil economy has been instrumental in the success of the organization. The appointment of Ricardo Guimaraes as the president of the organization could not have been better as his policies were better felt as the economy enjoyed stability. The organization expansion strategy have been very useful. Having 50000 agents and more than 30000 points of sale has enabled the group to reach every municipality in Brazil.
In conclusion, having an able leadership in the form of Ricardo Guimaraes has assisted Banco BMG very much. His background in management has been critical in offering strategic plans that have been implemented by all the segments of the bank. Consequently, the organization success is over the roof with all the customers clamoring to have its services.

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