The bank was established over eight decades ago, therefore, has a rich heritage and culture. Furthermore, it runs as a family business owned by the Pentagna Guimaraes family in Brazil. The firm, therefore, shares deep rooted family values that translate to all its operations.
Guimaraes has been at the helm of managing the family’s businesses since 1998. He quickly became an authority in business circles in Brazil especially the consigned credit loans. Guimaraes stands out for his efficient administration and strategy in business. His tenure as the Chief Executive Officer saw him lead the bank to new heights. BMG’s influence and market share rose. Its revenues grew from to billions within a decade. Guimaraes believes in exposing a larger section of the population to credit for investments.
BMG’s strategic plan is to establish a certain level of acceptance and recognition in society. It has created a favorable brand image to propel the organization towards profitability. As a result, BMG and its head Ricardo Guimaraes are household names in Brazil. The firm has left an indelible mark in society.
According to Guimaraes, the youth is the future of the nation and all aspects of the economy. It is, therefore, necessary to model and invest in them. BMG has endeared itself to the youth of Brazil. It hopes to reap the rewards of brand recognition, recruitment and increased business from its focus on the youth. Sports marketing endears BMG to potential customers and other stakeholders.
Indeed, BMG uses various sports and culture exchange initiatives to draw the youth. In sports, the banks sponsor teams in disciplines such as volleyball and football. In fact, BMG is the chief football sponsor in Brazil where the game has a huge following. According to the management, sports like football keep the youth away from the streets and crime.
In the Brazilian Serie A, Banco BMG partners with as much as half of the clubs in various sponsorship deals. The banks have invested so much in the welfare of football clubs and players. Some of the clubs that done BMG’s logo on their playing kits include Sao Paulo, Coritiba, Cruzeiro, Vasco, Flamengo, Atletico Mineiro and Santos Fc. BMG receives massive publicity from these deals and plays a key role in talent and sports development. They have ownership rights on several talented players in league clubs such as Corinthians and Fluminese.