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THE RISE OF CONSIGNMENT LOAN INDUSTRY IN BRAZIL AND BMG HEAD MR. GUIMARAES

Brazil economy has come a long way in the in the banking sector. The banking economy has grown rapidly since the Bianco BMG bank became operational in 1994. The bank is the leading player in the consignment credit industry in the country. When the bank joined the industry, it occupied only 40% of the market. The bank has grown to 60% of the current market with a top 80% in the consignment credit sector.
BMG has over 60000 agents and 4000 points of sales distributed in Brazil. Though the network, the bank has reached its customers with its excellent services. The customer satisfaction of the bank is rated as high by various banking industry rating sites in Brazil. BMG has invested heavily to its customer’s satisfaction in other areas like the asset finance and credit loans.
The consignment credit is the largest growing sector of the country’s banking industry. The advancement of personal loans to retirees and social workers by the bank was BMGs idea. The company pioneered the idea from inception in 1994 and had become the lead among other banks in the sector. The sector has a tremendous potential to grow and expand. The bank has put this into its priority and plans a massive investment in the sector.
The BMG bank is headed by Mr. Richardo Guimaries. He is an experienced entrepreneur and management professional. Guimaraes graduated with a degree in business administration and management. His career has developed with time as he served in several professional positions since his days in college. Guimaraes is an advisor and a board member of the Bianco BMG group. It’s the parent company that owns the BMG bank.
When the bank started, the economy of Brazil was very favorable. It has grown very active and rapid since then. Brazil is an economic power in the world and has a very diverse economy. The banking industry is among the leading sector of the economy. The Brazilian economy has many professional, and the country has relative peace and democracy. It’s some of the factors are positively favoring the growth of the consignment loan industry.
Guimaraes a great fan of the Brazilian soccer. BMG is the leading sponsor of Brazilians soccer. It has grown to overcome the prominent supporters like Coca-Cola and Adidas in the football industry. Guimaraes is also a fan of football himself. Most players in the national team soccer have a connection with the bank.

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