BMG is a very popular financial institution that is privately owned and controlled by Pentagna Guimarães family. This family is believed to have been in the financial industry from 1930. Its first institution was known as d Banco de Crédito Predial
For many years, the financial institution used to specialize in wholesale and consumer financing, but things changed in the mid-1990s. The firm was also very successful in financing heavy and light vehicles. In 1998, the institution started to concentrate its efforts on providing payroll loans, and this made it become a benchmark for such operations.
BMG decided to sign an association agreement in July 2012 with Itaú Unibanco. The main aim of the agreement was to offer, distribute and commercialize payroll loans in Brazil. The joint venture formed after the agreement was known Banco Itaú BMG Consignado S.A. the two firms went ahead and unified the two businesses in April 2014, and they focused on payroll operations as a joint venture. Up to date, BMG owns 40% of the total and voting capital. Itaú Unibanco owns 60%.
The unification of the two institutions has been very beneficial to BMG. First of all, the bank has been able to focus several strategic products like Payroll Credit Cards, used vehicle financing and BMG Empresas.
For many years, BMG has been very successful in the Brazilian financial sector. The company has always stood out because of the amount of sales and good operations. The institution has managed to brand itself nationwide as a firm that has the ability and technology to anticipate the big market movements.
Traditionally, the company is famed for working with top quality credit portfolios. This has been possible always because of the institution’s credit policy. All the credit decisions in the company have always been taken collectively through the credit committee structure that is well designed always to meet the banks demand in an efficient, responsible and intelligent way.
BMG is also famed because of it human capital. The bank considers its employees as its main assets. The institution has a culture and framework that recognizes talent, and this enables them to get high synergy teams that can conquer any challenges through teamwork and creativity.
For any bank to be successful, its management has to be perfect. This has been the case with BMG. Marcio Alaor is one of the top managers in the institution. He is the vice president and director. Through his leadership, the bank has managed to be on top in Brazil and even in Latin America. He has the knowledge and expertise required for the position, and this has made him make the right choices for the bank. For any individual or business that banks with BMG, their financial needs are always met.
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