THE STRATEGIC GROWTH OF THE BMG BANK
The BMG bank is one of the pioneer credit institutions in the Brazilian financial markets. The bank prides itself in the vast networks of customers and partners it has over a period of eight decades. BMG also has massive presence in international capital markets where they raise investment capital.
The last decade has seen an organizational culture change at BMG. Extensive market research and formulation of sustainable strategy have been put in place. The bank has taken steps to improve customer relations, and its branding power has grown. In return, the bank’s customer base has increased. The management cites the influence of the bank on the expanding credit access ratios in Brazil.
The acute administration of the bank over the past ten years stems from a desire to keep the bank at the core of Brazil’s financial markets. Indeed, Brazil’s economy is growing more steadily than ever. Inflation is uncommon in the country while the population continues experiencing better standards of life. Investors have been eyeing Brazil’s productive sectors. For BMG, the future must provide big business.
The marketing strategies at BMG have given the firm massive sales and publicity. The banks retail outlets numbering over 3,000 countrywide helps the bank extend its services. The bank contracts over 50,000 agents to improve its retail networks . The bank also applies new technologies and innovations in the banking sector keeping it updated on current trends. As a result, BMG stays ahead of the competition.
This publicity is also promoted by various social and sporting engagements that BMG sponsors. These sponsorships are just a small part of the bank’s corporate social responsibility practice. The bank shares a common value for cultural heritage with the Brazilian society.
They, therefore, promote cultural festivals. Sporting engagements such as soccer and volleyball are favorite past times for the Brazilian population. BMG sponsors such sports through various league teams in several tiers of the game. By so doing, the bank positions itself on a suitable platform for interaction with youths.
The visionary man behind the BMG revolution is Ricardo Guimaraes. He serves as the bank’s president and CEO. He started out at junior positions at BMG in the 1980’s and rose up the ranks. Mr.Guimaraes’ management skills have endeared him to the public, clients and partners. His galvanizing presence has given the bank’s operations some great traction. Today, BMG controls a significant share of the Brazilian financial markets.