Every country has a bank that helps to establish the economic system and is one that the people trust for all their lending needs. In Brazil, that bank is BMG. The Guimarães family is the founders of the BMG Bank. They have more than eighty years of honorable reputation in the financial markets of this country. They have an aptitude for finding solid solutions for individuals and companies alike. The Vice President of this bank is Marcio Alaor. He has helped the bank and the people of the area to head into uncharted waters that have yielded big returns. BMG offers things like credit cards, payrolls and financing for homes and autos. Part of the company has payroll loans that have helped them to increase their capital stock by more than 40 percent. This new alliance proved to be a worthy decision on the bank’s part.
The history of this family and the bank goes way back. They are a Brazilian entity that is known and trusted throughout the area. Their sales and strength have not gone unnoticed in the area. Their brand is one of excellence and their time-honored traditions allow them to be a driving force for the country. While they maintain the traditions of yesteryear, they also have the ability to keep up with the many movements in the market of today. Their success is being directed toward one man, Marcio Alaor. This bank also has many people in high levels of the Brazilian government sitting on their board.
Sitting on the board of directors is mostly people independent of the banking institution. They have an enforced code of ethics that allows them to assist with their anti-money laundering programs. BMG has worked with those who have extraordinary credit profiles; this is because of their credit policy that is time honored. Until the mid-1990’s, this bank was a wholesale establishment that found themselves as a market leader for financing in the automobile industry. From their inception until around 1998, they focus the majority of their revenues on payroll loans and various other types of loans.
In 2012, the company once again took another change. They signed an agreement with a company known as with Itaú Unibanco S.A. The purpose of this union was to bring together two separate companies and have them unite forces to bring those who perhaps didn’t have the credit they needed to get payroll loans. BMG currently has about 40 percent of all the stock and the rights to vote, while the other party holds shares of 60 percent. The bank is being led into new and exciting places thanks to the Vice President. The future looks bright and things couldn’t be better.