Ricardo Guimarães And BMG Bank Are The Top Football Sponsors In Brazil

 

Ricardo Guimarães was born to be a banker and businessman. His family opened the Bank of Minas Gerais in 1930. Ricardo took over the bank in 1998, and he has been President of the BMG Bank ever since then. Guimarães loves the banking world, but he also loves football. He decided to combine his love for football and banking, and that decision has been a very profitable for the bank and Guimarães. BMG Bank sponsors the Atletico Mineiro football club, and that sponsorship has given the bank countrywide recognition. Atletico Mineiro players wear the orange BMG Logo on their jerseys during games, and the bank helps the team financially.

Atletico Mineiro isn’t the only team that BMG Bank sponsors. Guimarães decided to sponsor other teams as well as some of the best football players in Brazil. Guimarães didn’t want BMG Bank to appear partial to one particular team, and his strategy worked. BMG Bank gets a lot of television exposure on game days, and thanks to that exposure BMG Bank is known as the bank that loves football. BMG Bank is considered the top sponsor of Brazilian football, and the bank has grown from Guimarães decision to use sports to market his bank products.

The main product that BMG Bank likes to promote to football fans is their payroll loan product. BGM Bank’s payroll loans are well-known because football fans want to do business with other football lovers. BMG Bank received a massive amount of exposure from football, so Guimarães decided to buy two other banks in order to keep up with the demand. The GE Money Brazil and Schahin Bank are now part of BMG Bank. The payroll loan business, as well as automobile financing, are the main products that have put BMG Bank in a very profitable position thanks to football sponsorships and the acquisition of the two banks.

The consignment credit business in Brazil is a $R123 billion business. Thanks to Ricardo Guimarães leadership, and his love of sports, BMG Bank is now the second most profitable bank in Brazil. According to an article published by R7.com, BMG Bank has a major share of the consignment credit business. More Brazilians are taking advantage of payroll loans because the interest rate is lower, and the loans are guaranteed by their income. The default rate on payroll loans is lower because the borrower’s pay back the loans through payroll deductions.

BMG Bank continues to grow thanks to Guimarães and his team of bankers that wear football jerseys on certain bank days to promote football teams and payroll loans.

One thought on “Ricardo Guimarães And BMG Bank Are The Top Football Sponsors In Brazil

  1. From the success in Brazil football, one can agree that the sponsors will have every reason to reach great success level. They also have book review writing service to sponsor their cultural innovative progress as well. Since the policies has allowed for progress in making the payroll even more competitive, many people are taking advantage of this.

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