BMG Bank And Social Entrepreneurship.

One decade is a long time in business. That’s how long Ricardo Guimaraes has been the CEO and President of BMG Bank group. The booming Brazilian economy has played a significant role in in the organic growth of organizations within the country.
BMG Bank’s progress has been planned with the oversight of Ricardo Guimaraes. When he took over in the year 2004, Brazil was starting to experience rapid economic growth. During this time, the company took advantage of low inflation costs and better quality of life for the population to attract customers.
To satisfy the rising demand for credit, BMG ventured into the consigned credit market. At this time, access to such credit facilities stood at about 23% of the gross domestic product. Today, BMG acknowledges its contribution to the current credit exposure percentage of 47% of Brazil’s GDP.
The consigned credit market has multiplied from a mere $6 billion to about $90 billion. Around the same period, BMG’s credit figured adjusted upwards from $2.5billion to almost $20 billion. This growth reflects the state of the economy and the thriving nature of consigned credit companies. The bank’s equity capital has seen a growth figure of over a billion dollars. The CEO attributes the success of the bank to the rich organizational culture of collaboration and cooperation by all stakeholders.
Being a pioneer in the consigned credit industry, BMG benefits from its affiliation with other multinational investment banks in the industry. These contacts give them unlimited access to advisory and funding mechanisms. BMG has also undertaken massive expansion drives lately. The development was achieved byopening up new retail banking centers complemented by local agent banking systems. BMG has also acquired several startups. None of these transactions would be possible without the necessary involvement of investment banks.
Ricardo Guimaraes career and social life have also changed in a similar way to BMG over the past decade. His expertise and impact in the industry has not gone unnoticed. Mr. Guimaraes has become an advisor to policymakers in Brazil. He also mentors youths and aspiring career people.
During his tenure, BMG has invested heavily in the cultural exchange programs within Brazil. The other social investments the firm actively makes include major sports events for soccer and volleyball. According to Guimaraes, these sponsorships develop the game while improving the companies branding and marketing strategies.
The strategic placement of the BMG bank within the fabric of the Brazilian society is apparent for all to see. It wouldn’t be possible without the guidance of the visionary Ricardo Guimaraes.

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