A recent article posted by R7.com, explains how Ricardo Guimarães got involved in the sport of soccer. Today, BMG Bank is the largest sponsor of soccer in Brazil, and Guimarães is the mastermind behind the bank’s success.
Like most Brazilian men, Guimarães grew up kicking a soccer ball. Ricardo was born in Belo Horizonte, so he played soccer in that city while he was attending lower school. He didn’t know it at the time, but he would eventually become the president of the Atlético Mineiro Club from his home state, and he would keep that position for five years.
Another article by MaquinadoEsporte.uol.com, mentions how Guimarães was able to combine his banking career with his football career. Ricardo was born wealthy thanks to his grandfather Antonio and father Flavio. Ricardo had banking genes, and when he became president of the BMG Bank in 1998, he showed Brazil how those genes operate.
Guimarães decided to compete with the big banks in Brazil for the payroll loans that became fashionable in Brazil while Luis de Silva was president. Payroll loans are low-interest loans that are guaranteed by personal income. Guimarães developed a strategy that combined soccer advertising and sponsorships with a down-home type approach to lending. The strategy worked, and BMG Bank became more than a one state bank.
When the city of Belo Horizonte awarded the Diploma of Merit to one of their distinguished home-town men, Ricardo accepted the honor with appreciation and humility. Even though Guimarães had left Belo Horizonte for the bright banking lights of Sao Paulo, he never forgot the people in his birth city. Ricard donated his time and money as the city grew, and the city wanted to recognize Ricardo’s accomplishments by giving him the Diploma, according to an article published by Blog.Dino.com.br.
BMG Bank has experienced tremendous growth the last eight years under Ricardo’s leadership. The bank is now the second most profitable bank in the consignment credit business. BMG Bank has partnered with the fifth largest bank in the country, and opened another bank that only handles payroll loans because of the demand Guimarães created with soccer fans.
Soccer sponsorships have been rewarding, but Guimarães has expanded his sponsorship program. The bank is sponsoring Marcelo Melo; the tennis doubles sensation. The BMG logo will be on his tennis shirt during the Summer Olympics as well as when he plays other matches around the world. BMG Bank is being recognized by other countries because soccer and tennis fans around the globe support businesses that have a presence during matches. The bank is also sponsoring volleyball players, so BMG Bank will be well represented when the world comes to Brazil in August for the Olympics.