Ricardo Guimaraes was appointed the president of BMG bank in 2004 and from this time, several things have changed. In the year 2004, inflation in the country was under control while BMG bank was also growing steadily. The Brazilian lifestyle was improving. During this appointment period, the credit exposure to the population was around 22% with the current exposure standing at above 47% of the GDP. During his appointment, the credit accounted to $6 million, accounting to personal credit in the year 2004.
In the year, BMG equity stood at $325million in2004. In the year 2010 under his leadership, the bank’s equity stood at 1.4bilion in Dec. The rise in the bank’s equity comes as a result of hard work, dedication and ability of the leadership team.
BMG Bank leads the Consign credit market in Brazil. The bank offers the cheapest consign credit, making it attractive and in huge demand from clients. Today, 50% of the consign market has been exploited. There is a big potential to grow BMG market in consignment credit. BMG bank is the pioneer in consign credit in Brazil. The bank has seen potential in consignment credit market and will take this advantage to focus on the growth.
The BMG bank has taken an impressive 18% share OF consign credit in Brazil, competing with other 60 banks. This sees the bank take a huge share in the distribution system and has seen it access global capital market. The bank has established more than 3000 point of sales and 50000 agents working in every municipality. Since 2004, the bank has ROI standing at above 5% yearly. The bond issue is also helping the bank grow.
BMG takes charge of new opportunities and with millions of clients, the bank encourages the loyal clients to try new products. BMG Bank gets in touch with clients to improve its services.
The bank takes it credit for growth from Ricardo Guimaraes who take charge of the bank management. Ricardo ha Business Administration degree and has experience as the executive finance officer. He has been nominated as the best bank CEO for his work in the banking industry. He also sits in business News America Board.
BMG Bank is the leading sponsor of soccer men’s soccer team. It is also a partner of basketball and volleyball teams and encourages the athletes. The bank loves sports and encourages this to enhance their image brand. BMG Bank has Partnership with local TV channel to give teenagers a chance to show their soccer skills. The partnership has built social growth in youths.