Brazilian Banker Ricardo Guimarães Uses Soccer As An Advertising Tool

Soccer is more than a game in Brazil. Brazilians eat and sleep soccer. They watch soccer matches at the expense of other duties, and BMG Bank President Ricardo Guimarães has found a way to make those soccer fans love his bank almost as much. BMG Bank is the acronym for the Bank of Minas Gerais. Guimarães took control of his family-owned bank in 1998, but it took him a couple of years to formulate an advertising plan that would turn his relatively small bank into a Brazilian superstar.

According to an article posted by Maquinadoesporte.uol.com, Guimarães put a very lean banking structure in place so he could offer consumers low-interest loans. When President Luis de Silva relaxed banking regulations in 2008, BMG bank, under the leadership of Guimarães, decided to sponsor a local Minas Gerais soccer club. The club, Atletico Minas Gerais, is a Series A club. Atletico MG is one of the top clubs in the country, so the BMG logo got a lot of exposure on game days, According to that article, Guimarães became president of that club in 2001.

BMG bank started to receive calls from soccer fans after games. Fans wanted to take advantage of the bank’s payroll loans. Payroll loans are low-interest loans that are guaranteed by personal income. According to an article published by R7.com, BMG Bank’s business started to grow because of the initial response the bank got from sponsoring one soccer club.

Mr. Guimarães decided that sponsoring one club wasn’t enough to get the national exposure he wanted, so he signed agreements with other soccer clubs. Today, the BMG three-letter orange logo is worn by players across the country. Soccer fans turned the local BMG Bank into a recognizable bank across the country. BMG bank is now the major soccer sponsor in the country.

Thanks to soccer sponsorships and advertising BMG bank is one of the most profitable banks in Brazil. Ricardo Guimarães has been honored with several awards for his financial leadership as well as for his dedication to his hometown of Belo Horizonte. The city officials of Belo Horizonte awarded Ricardo the Diploma of Merit, according to a recent article posted by Blog.Dino.com.br. The article mentions Ricardo’s dedication to the city and for carrying on the banking tradition that his grandfather, Antonio, started in the 1930s.

Ricardo Guimarães hasn’t stopped working for the people of Brazil. He is an influential entrepreneur and banker that cares about his country and the sport of soccer. He wants Brazilian schools to teach the game as a course rather than an extra activity. Ricardo talks about Denmark’s attitude toward soccer on his blog. He wants Brazil to treat soccer the same way. Guimarães says the game builds confidence, character, and mental toughness.

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