Banco BMG, renowned financial institutions was established by the Pentagna family in 1930s. The company is currently owned by Mr. Ricardo Annes Guimearaes, who also serves as its president. In June 2004, President Ricardo Guimaraes become BMG’S CEO till to date. When he became the president for BMG, Brazil was growing, and its inflation was being controlled and the living conditions in Brazil had improved.

In an interview, the CEO mentioned that when he took the mantel, the consigned credit market that BMG is focused had a total of 6 billion dollars and accounted for 20 % of personal credit in Brazil. As of 2010 total market of consigned credit was 85billion dollars and accounted for 60% of all personal credit in the banking system. The company’s total credit portfolio as of December 2004 was at 2.4 b and as of December 2010 it was 14.5 billion dollars. In December 2004, BMG’s equity stood at 325 million dollars and as of 2010 it was 1.4 billion dollars. The president attributed the passive increase to the dedication, ability and hard work from the entire team.

Looking at the promising sector in consigned credit, the president noted that it has been increasingly growing in the last few years.He noted that it was the cheapest alternative of credit in the market making it one of the big reasons for its huge demand. Despite the huge growth, there is less than 50% of this market has been exploited hence an enormous potential to grow. BMG being one of the pioneers in this segment, it is considered the main bank in the development of this product and also a leading bank in the origination of the operations. The CEO made it clear that BMG remained focused in the cosigned credit segment, and it will take advantage of the market’s huge potential.

Banco BMG is currently competing with more than 60 banks in this segment. This has given the company an 80% market share. This dominance can be attributed to its big distribution channels in the national bank system and its 3000 plus points of sale and more than 50000 agents present in every municipality working for the company. The company is enjoying excellent access to the international capital markets through its bond issues.

The BMG CEO Mr. Ricardo Guimeares in the same interview said that the company is attentive to new opportunities hence the recent signature deals and acquisitions. Having approximately 5 million clients, the company is seeking to increase the customer base. The new acquisitions will help BMG get closer to its current clients and prospects leading to a gained loyalty while offering new products and having more contact with them.

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