As numerous financial institutions are developing more and more, most people find it really difficult to find the most reliable bank that would at the same time meet all their needs. However, finding the right bank is very important, since all banks represent something that can ensure the clients’ stable financial position. Clients’ choice is often based on the bank’s reputation, and this is where BMG bank comes in, as one of the most reliable banks in Brazil.
The history of BMG bank
BMG bank represents a private financial institution that has a leading role in Brazil’s deduction credits. The bank is controlled by the Pentagna Guimaraes family, who has been involved in the financial world even since 1930. Since then, the bank services have been connected with wholesale and financing. Furthermore, it also represents one of the leaders in the financial world, and in the financing of one of the most important kinds of vehicles in 1980s. After that, it was engaged in providing loans to some of the most important companies, which is no surprise it has earned the trust of so many different clients.
In 2012, BMG bank made an agreement with Itau Unibanco S.A., which was just another step in payroll loans distribution in Brazil. Then, the two institutions decided to unite together, and BMG ended with 40 % of the total capital.
The bank’s strategy
As the reputation of any banks is very important, BMG bank as well is trying to bring about the success by creating new businesses that will meet the need of or clients. Marcio Alaor, the BMG bank’s vice president, is well aware of this, and he states that since the clients’ needs always differ, it is very important to keep in mind what their priorities are, especially as a way of ensuring the clients’ trust, which is something BMG always do. That’s why he has given Itau Unibanco access to various banking clients, which provided the bank with even more experience in the banking sector.
Another strategy includes profitability, which can be achieved by centering the bank’s attention of the loan portfolio growth. Mr. Alaor also makes sure that his bank always focus on conservative credit policy, and he can always rely on his team of professionals who can provide a detailed analysis of everything they need.
To conclude, finding the right bank can sometimes be extremely difficult. But, Marcio Alaor has some useful tips, and that is that all banks should first consider the needs of all clients in order to guarantee for the success.