Ricardo Guimares has built his family business to be the biggest sponsor of football brands in Brazil.Guimares is himself a sports lover and supports Atletico Mineiro.It is a club close to his heart that is sponsored by BMG.The three letters BMG are printed in orange color on the player’s shirts and are a perfect way for the brand to market itself. It is a costly marketing move but in that is paying handsomely. The bank is today the leader in Payroll loan processing.
Payroll loans is an area with low default rates and many customers. Ricardo Guimares has seen this 85-year-old bank prosper thanks to his leadership skills. Some if the skills are on display on how he manages sports team sponsorship. His businesses acumen doesnt6 allow him to sponsor teams partially. Banco BMG sponsors over 100 teams from all divisions of the Brazilian League. The Bank, despite his personal choices, does not root for any specific team. Since soccer is very popular in Brazil, it is a genius marketing plan as the colors of the banks are depleted every weekend to tens of millions of Brazilian soccer fans. The bank has also sponsored other teams like Basketball and tennis players.
Banco BMG has one the best financial returns from its sports sponsorship. The high visibility has allowed it to prosper in a competitive business environment. The bank has used this fact to accelerated its growth plans and recently acquired Schahin bank and Banco GE.These acquisitions have seen Banco BMG dive into different market segments including vehicle financing and personal loans. The bank has achieved an impressive feat having over 5 million customers and one of the fastest growths despite the current economic crisis.
Banco BMG has leveraged the skill of Ricardo Guimares to grow. The Banking titan believes in hiring the best and working very hard. It is a philosophy that has seen the bank became the biggest consigned credit lender in the market with 80% market share. It is based in Bero Horizonte but has 3000 branches country wide. It also has over 50000 agents around the country. It routinely floats bonds in the international market to help it grow.
Ricardo Guimares is the grandchild of the founding father, Puargo Guimares.He has been with the bank since 1980 and has been promoted severally. He became the financial officer in 1989 and vice president in 1996.
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