Ricardo Guimarães leads the Bank of Minas Gerais S.A and is the serving, president. Ricardo is the owner of BMG S.A from June 2004. His career started in BMG S.A. in the year 1990; Ricardo served as the bank’s Financial Executive Officer to the year 1989. He then served as the bank’s CEO from the year 1996. Mr. Ricardo became the Vice-President of the bank’s board of executive officers. He is a member of the Board of Councilors of the bank. He graduated with a degree in Business Administration from the University of UNA.
BMG is a financial institution that is privately owned and controlled by the Guimaraes family. This family had been involved in the industry of finance in Brazil since the year 1930 when it founded the BMG bank. BMG is a profitable bank offering products to institutions and individuals. BMG’s main business was to provide consumer and wholesale financing and was a premier in heavy and light vehicles financing before 1990. From 1998, the bank has its focus on providing of payroll loans and has become a benchmark for this kind of operations. In the year 2012, BMG entered into an agreement association with Unibanco S.A. aimed at offering commercialization and distribution of payroll finances in Brazil. It formed a joint endeavor called Bank of Itau BMG Casignado S.A. this unification had seen some benefits to BMG. It has allowed the bank to lay emphasis on strategic products such as payroll loans and used vehicle financing.
The bank was founded by the Guimaraes family and has 80 years performance in the monetary market. It is a bank with a capacity for offering solutions to both institutions and individuals through their products. Throughout its history, the bank has stood out within the country’s financial sector due to its operational excellence and sales strength. It has created a brand that is known countrywide for its technology, tradition and the ability to forestall market movements. BMG has maintained a healthy and high-quality credit portfolios. The credit decisions are taken unanimously through the credit committee structure that is intended to make the banks demand in an efficient and intelligent way.
The bank seeks to increase profitability and productivity of its products through its customer portfolio. The bank is currently working to develop new business that will meet customer needs and add value to the firm. BMG focuses on growing the loan portfolio in a sustainable way and enable the company continuity through profitability. BMG is diversifying funding sources to enterprises and businesses. It has a funding structure that is comprised of external financing, deposits, and securitization. It has adopted the substantial business governance practices to attract more investment.