BMG is one of the leading privately owned Bank in Brazil. The Bank was initially established in 1930 and offered commercial bank services with products and services given to institutions and individuals. Up to 1990s, the bank operated to give consumers and wholesale financing. The bank was known to finance heavy and light weight vehicle financing. Today, the bank has transformed its business and concentrates in giving payroll service loans, thereby cementing this portfolio.
Under the experienced vice president and director Marcio Alaor, BMG has continued to succeed. Today, the bank offers customers and wholesale funding. In the year 2012, the bank, in partnership with Itau Unibanco S.A started to commercialize and distribute payroll loans in Brazil. Today, the bank owns 40% of the voting capital stock and the other partner holding the rest.
Today, the BMG Bank focuses on growing the loaning portfolios through sustainable ways. This ensures the bank gets the attractive profits to offer banking services. Besides the bank adopt high-level corporate governing practices, with 40% of the members of the board being independent.
The bank specializes in high-quality credit portfolios inbuilt. This is based on conservative credit policies that ensure technical and detailed analysis on industry intelligence.
Today, the bank is diversifying its funding sources by seeking long-term growth strategies. An example of this is the BMG Invest. This is a fixed income source focusing on companies and individuals.
Today BMG Bank is the leading creditor in Brazil. Under the vice presidents Marcio Alaor who oversees the payroll loan segment, other executives are working under him who bring the private and public sectors to give credit services, loans and home equity financing. People can also get vehicle loans and other financings to any business.
Why the bank remains profitable
BMG Bank in Brazil has remained in the banking industry for the last 80 years. This is because the entity has come up with a variety of ways to pull resources, with the desire to capitalize on the revenues. There are a variety of banking strategies that maximize on opportunities available. These market strategies ensure the bank realizes its vision in giving services.
The developments and growth of BMG Bank in Brazil can be attributed to several factors. The sales strength and excellence in offering solutions and operations are some of the attributes. With high level of professionalism and top-notch leadership practices, the bank has remained one with capabilities to grow steadily in the future.