Guimarães has always loved the game of soccer. He constantly kicked the ball when he was growing up in Belo Horizonte, but he was also an exceptional student. The Guimarães family was well-known in the city. Grandfather Antonio Guimarães founded the Land Credit Bank of Minas Gerais in 1930. Antonio was a wealthy entrepreneur that made his fortune in mining, coffee and cattle as well as in the commodities market.
MaquinadoEsporte.uol.com.br wrote an article about Ricardo and his family. In that article, the fact that Ricardo built the former Land Credit Bank into the powerful BMG Bank was emphasized. BMG Bank has always had a team of experts working for the Guimarães family, but when Ricardo became president of the bank in 1998, the bank team became one of the most respected group of people in the banking industry. The main reason the employees of BMG Bank stood out was the bank’s low default rate on loans, and the bank’s ability to get soccer fans to apply for their main product, payroll loans.
The payroll loan industry is big business in Brazil, and The BMG Bank team found a way to promote their low-interest version of payroll loans by sponsoring soccer players and clubs. Ricardo was the catalyst for the concept. When Guimarães was named president of the Atletico MG Club in 2001, he realized that soccer clubs across the country needed money in order to train, and attract good players.
Esporte.Terra.com.br published an article about soccer teams and their financial situations, and in that article, Guimarães was mentioned. The article highlighted Ricardo’s contribution to the game, and the article said it was immeasurable. But BMG Bank also played an important role in bringing another element to the soccer world. That element was player-uniform advertising. Soccer players on more than eight soccer clubs now wear the orange three BMG logo on their jerseys.
Soccer fans support BMG Bank because their favorite players wear the BMG logo. BMG Bank is the soccer bank, according to fans across the country. Ricardo Guimarães built a brand that few banks in Brazil can compete with. Soccer players are kings in Brazil and anything players support, fans support. BMG Bank’s profits are proof of that.