Ricardo Guimaraes is a recognized investor who takes opportunities in the capital market and develops the opportunity to useful ideas. Guimaraes was born in the family of Pentagna Guimaraes family. This family owned Banco BMG bank. By then it was recognized as Banco BMG Group.
Ricardo Guimaraes has been the President and the Chief Executive Officer of this bank for more than ten years consecutively. The bank has been offering financial services across the entire Brazil country. Ricardo Guimaraes together with his Vice President, Marcio Alaor have been working very hard for the success of this bank. Guimaraes commitment and dedication in his work has attracted a lot of investors in the bank.
Guimaraes have been working to ensure that credibility and transparency of the banks transactions are well maintained. Banco BMG bank has experienced and professional experts who offer advisory services to the banks clients. The bank has a lot of experience in the banking sector as compared to its competitors.
Ricardo Guimaraes took the lead of Banco BMG in 2004. The population of Brazil citizens was rapidly growing. Inflation resulted and unfavorable life conditions for the Brazilian citizens.
The scenario was favorable to Banco BMG bank. In 2004, 20% percent of credit exposure was experienced as per Growth Domestic Product. Percentage of Growth Domestic Product has recently increased up to 47%.
Banco BMG bank focuses mostly on consigned credit market. By December 2010, the total amount of consigned credit market has increased from 6 billion U.S Dollars to 85 billion U.S Dollars. This number accounted for 20% of all personal accounts credit in the banking system.
An impressive increase of money circulation has been noted in the banking system. In 2004, BMG equity was 325 million Dollars. The increase shifted up to 1.4 billion U.S Dollars in 2010.
In the recent years, the consigned credit has been increasing as compared to other personal loans. The massive increase has resulted due to the flexibility and efficacy of consigned credit market. Being the cheapest credit alternative in the market, clients embraced its introduction.
Banco BMG bank is one of the pioneers of consigned credit. Mr. Ricardo views consigned credit as an alternative to personal credit in the capital market.
Potential growth of Banco BMG bank is still to come since the consigned credit has not yet got exploited. Exploited consigned credit is less than 50%.
In conclusion, Banco BMG bank also engages in co-curricular activities such as football. Banco BMG bank also sponsors first and second leagues in Brazil. BMG bank is also in partnership with a local Television Channel.