The bank faced ups and down after World War 1. As a result, it resolved to relocate to Herengracht 619, since then, BMG has been operating in this residential buildings which were established by the former mayor of Amsterdam state. Under the supervision of Dutch Central Bank, Mendes Gans and company transformed into a fully licensed bank in 1911. By then, it had specialized in portfolio management of Brazilian wealthy persons. In mid-sixties, Dow Chemicals an American American company lead BMG to specialize in cash management. The bank expanded its operations and later it was running brokerage enterprises. Consequently, it resolved to run bank cash controls later on.
Up to 1990, BMG Bank had one core activity. It had actively involved itself in providing financial assistance to needy customers. In 1980 onwards, Bank Mendes Gan had already dominated the financial market. In fact, this bank emerged as the market leader having specialised in funding light automobiles. As a result of BMG Financeira S.A. owning majority of shares, It BMG later changed its name to BMG Banco commercial S.A and become multi-activity financial institution in 1988. Following the decision to delist the bank from security exchange market, the Guimarães family showed interest to purchase and control its operations. Later in1996, the offer for acquiring the company was a done deal. Since the BMG started to specialize to deal with enhancing payroll loan services to public sector workers. In this market, it grew fast and dominated the payroll market hence emerging the leader.
BMG is said to have acquired almost all shares of GE and Banco schanin in 2011.In 2012, a decision to perfect and economically commercialize in payroll service provision was made. A joint business undertaking referred to as Banco Itaú BMG Consignado S.A was established. Later in 2014,a decision to merge the two organizations was made.
Marcio Alaor BMG, Vice President and Director of BMG is remembered for his countless contributions to the success of the bank. Mr. Alaor has led the bank to the realization of stable profits over a long period of time. Through his able leadership, he has strategically introduced market techniques to favourably compete in the market. Aaor and the board of directors understand that it is useless to have a good business plan without effective stuff.