BMG and Factors Contributing to its Continued Existence for Almost a Century

Banco de Minas Gerais SA, (BMG) is a privately owned financial institution with operations based mainly in Brazil. It was established in 1930 by the Pentagna Guimaraes family as Banco de Credito Predial SA. It was started offering different financial products to its individual and institutional clients. Over time it has expanded its operations and broadened the number of client services it offers.
BMG has had a longstanding and undisputed period of success in the Brazilian financial industry. It has become a lesson to many upcoming banks in the country. Some of its products are pioneers in the Brazil economy and offer act as a benchmark for other institutions wishing to experiment on them. A good example is the payroll loans product that the bank introduced in the 1980s.
It might be of interest to look at some of the factors that have contributed to the constant growth of the bank for all these years that it has been in operation:
Constant diversification
It has been the drive of the bank to continually expand its funding base by seeking long term and sustainable sources. It is the achievement of these sources that has contributed to the continued growth of the company for all this time. One of the products under the mode of sustainable funds is the BMG Invest. This is a fixed income banking platform designed for individuals and companies. Their deposit shields the bank against various forms of liquidity risks.
Rich brand backed by proven history
The bank boasts of a rich brand that it has grown over many years of operational experience. The bank also has a rich history of achievements and good client relations. It also has a large and reliable client base comprising of institutions and individuals that it has helped grow and who would leave them for nothing.
Able governance
The bank may be family owned but when it comes to professionalism in management and service, it doesn’t compromise. It has engaged the most professional workmanship led by the current President, Ricardo Annes Guimaraes. Ricardo took on the leadership of the BMG in 2004 and is also the CEO of the BMG group of companies.
Ricardo Guimarães has had a rich history in financial operations and is a perfect suit for the position he currently holds. He joined the Bank in the early 1980s and has served in several of its managerial levels having started as the banks Financial Executive Officer. He therefore thoroughly understands the banks operations, its mission, and aspirations.
These are just a few but there certainly are so many other factors contributing to the continued growth of BMG. It’s these factors that the bank has relied on to grow its client base and broaden operations.