BMG Bank President Ricardo Guimarães Loves Brazilian Football

 

Brazil is the largest economy in South America. The country has more natural resources and more white-sand beaches than any other country in South America. Brazil also has more banks and more lawyers that most countries, but the main asset that Brazilians like to flaunt is their love of football. Football is more than a sport in Brazil. It is a passion and a birthright, and every Brazilian honors that birthright and passion in some way.

Ricardo Guimarães, the President of BMG Bank, decided to honor his passion for football by sponsoring football teams. It’s no secret Guimarães loves football, but he also loves the banking business. Mr. Guimarães, decided to combine his love of football with his love of banking, and the result is a marriage that has been beneficial for football and for BMG Bank. BMG Bank is the proud sponsor of teams like Atletico Mineiro, and the bank also sponsors players that are well-known in Brazil.

On game days, football fans can’t help but see the orange BMG Bank logo on the jerseys of the top players in Brazil. Brazilians stop what they are doing on football days. They turn on the TV and watch football. Nothing else matters when games are being played, and thanks to that narrow focus BMG Bank is getting an enormous amount of exposure. BMG Bank quietly promotes bank products during matches, and that subtle marketing approach has paid off. BMG Bank is known as the football bank, and that title carries a lot of weight with Brazilians.

Thanks to football, BMG Bank is known as the bank that will give Brazilians payroll loans. Payroll loans are profit-producers for banks. BMG Bank has an 18 percent market share in the payroll loan business. That 18 percent market share gives BMG Bank more than $63R billion in revenue every year. In fact, the demand for BMG Bank’s payroll loans is so big that Guimarães decided to buy two other banks to meet the demand, according to an article published by R7.com.

Ricardo Guimarães is one of the masterminds behind payroll loans in Brazil. He is known as a banker’s banker because he was born into the banking business. His family started BMG Bank in 1930, and he took over as president in 1998. Ricardo is the main reason BMG Bank is where it is today. Ricardo is an astute businessman, leader and football lover.