What Banco Bmg does

Banco Bmg S.A. is a Brazilian commercial bank founded in 1930 and headquartered in São Paulo, with over 90 years of operating history in the Brazilian financial market. Its core franchise is payroll-deductible credit: consignado loans for INSS retirees and pensioners (rates from 1.85% monthly, terms up to 108 months), Crédito do Trabalhador for CLT formal workers (with deduction up to 35% of salary), antecipação saque-aniversário FGTS (advance against annual FGTS withdrawals), Crédito na Conta personal credit (10.9%–26.0% monthly), and loan portability services. Beyond lending, Bmg offers a Mastercard-networked credit card suite (consignado, consignado-benefício with bundled free life insurance, a fee-free digital account card, and the investment-backed Cartão Limite Certo), the Conta Digital (Pix-enabled, with subscription tiers from R$15.90 to R$51.90/month and an unlimited tier at R$19.90), fixed-income investments (CDB, LCI, LCA with up to 107% of CDI yield, FGC-protected to R$250,000), the Cofrinho Bmg micro-savings CDB product, a cashback program (Volta Pra Mim, up to 0.5%), and a Bmg Seguro insurance suite distributed with Generali Brasil and wholly-owned subsidiary BMG Seguradora. Four football-club co-branded cards (Corinthians, Atlético Mineiro, Vasco, Bahia) anchor a brand-affinity distribution play.

The bank runs a hybrid distribution model: a mobile-first stack (iOS/Android app, internet banking) with WhatsApp as the primary digital sales channel, complemented by the help! correspondent store network across Brazil for in-person service. Onboarding is fully digital via QR code with biometric facial verification, and Open Finance integration supports personalized credit offers. Bmg Corporate serves medium and large companies with commercial banking, capital markets, agribusiness financing, trade finance, FX, and derivatives, while Bmg Empresas targets MEI and small businesses. Technology is largely an integration-and-distribution stack rather than a proprietary AI/ML platform, with no disclosed proprietary models.

Banco Bmg generates revenue primarily through interest income on credit operations, credit card interest and fees, account subscription fees, insurance distribution commissions, and investment product fees. The customer base is concentrated in INSS retirees/pensioners and CLT formal workers, segments where automatic payroll/benefit deduction reduces default risk and supports the bank's lower-rate positioning relative to conventional personal credit.

Name

Banco Bmg

Legal name

Banco Bmg S.A.

Website

https://bancobmg.com.br

Company type

Private

Founded year

1930

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Banco Bmg S.A. is a 1930-founded Brazilian commercial bank that specializes in payroll-deductible credit for INSS retirees, pensioners, and CLT formal workers, while offering credit cards, a Pix-enabled digital account, fixed-income investments, and insurance distributed via mobile app, WhatsApp, and the help! correspondent network across Brazil.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

SME Sector/Specialty Banking (Vertical-focused: Healthcare, Agri, Tech, etc.) (FSABABAI)

akta.pro secondary industries

General SME & Middle-Market Commercial Banking (FSABABAA), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)

Keywords

• Payroll loans
• Consumer banking
• Credit cards
• Fixed income investments
• Digital banking

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Credit Operations Interest: Interest income from loan products including consignado loans for retirees and INSS beneficiaries, CLT worker loans, FGTS advance loans, and personal credit. Interest rates vary by product: consignado from 1.85% monthly, Crédito na Conta from 10.9% to 26.0% monthly.
2. Credit Card Operations: Revenue from credit card transactions including interest on revolving balances, installment payments, and cash advances. Consignado credit card with reduced rates compared to conventional cards.
3. Insurance Products: Partnership with Generali Brasil Seguros and BMG Seguradora for life insurance on consignable credit cards, Bmg Med health insurance, FGTS protection, and other personal insurance products.
4. Investment Products Distribution: Distribution of CDB products (Super Poup, IPCA+, Escalonado, DI, Prefixado), LCI, LCA, and Cofrinho Bmg with no maintenance or administration fees.
5. Account and Service Fees: Monthly account packages ranging from R$ 15.90 to R$ 51.90 for various service bundles including unlimited packages at R$ 19.90/month.
6. Cashback Programs: Volta Pra Mim cashback program offering 0.4% cashback on credit card purchases plus 0.1% extra with automatic debit payment.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Banco Bmg is a Brazilian financial institution that originates and services payroll-deductible (consignado) loans for INSS retirees and CLT formal workers, FGTS advance loans, and personal credit (Crédito na Conta), alongside credit cards, a digital account with Pix, fixed-income investments (CDB, LCI, LCA, Cofrinho Bmg), and an insurance suite distributed with Generali Brasil and BMG Seguradora. Bmg Corporate extends commercial banking, capital markets, agribusiness financing, trade finance, foreign exchange, and derivatives to medium and large enterprises.

Product overview

Banco Bmg is a long-established Brazilian financial institution (over 90 years old, CNPJ 61.186.680/0001-74) offering a broad, multi-channel financial services portfolio organized around three main segments: (1) Loans & Credit, comprising the core Empréstimo Consignado (INSS), Crédito do Trabalhador (CLT), Antecipação FGTS, Crédito na Conta, and Portability services; (2) Credit Cards, including the Bmg Card Consignado, Cartão Consignado Benefício, fee-free digital account card, and Cartão Limite Certo (investment-backed limit); and (3) Digital Banking Services, centered on the Conta Digital with Pix, the Cofrinho Bmg savings/CDB, the Volta Pra Mim cashback program, CDB/LCI/LCA investments, Bmg Seguro insurance suite, and team affinity cards for major football clubs. For corporate clients, Bmg Corporate provides Commercial Banking, Capital Markets, Agronegócio, and Trade Finance. All products are accessible via the mobile app, WhatsApp, website, help! retail stores, and physical branch network, with Open Finance driving personalized credit offers.

Differentiator

Problem solved

Functional benefit

Brands

• BMG Card: Credit card brand for retired and pensioners with payroll deduction
• Crédito do Trabalhador
• Cofrinho Bmg
• help!
• Bmg Corporate

Products and services

• Empréstimo Consignado (INSS) Payroll-deductible credit product exclusively for INSS retirees and pensioners, with installments automatically deducted from the monthly benefit payment. Interest rates start from 1.85% per month, repayment terms up to 108 months, with loan disbursement possible in as little as 1 hour when margin is available.
• Crédito do Trabalhador (Empréstimo Consignado CLT) Payroll-deduction loan for formal workers (CLT) registered in eSocial, with installments automatically deducted from salary and repayment terms extended up to 60 months. Payroll deduction allowed up to 35% of salary.
• Antecipação Saque-Aniversário FGTS Advance loan against the customer's annual FGTS (Fundo de Garantia do Tempo de Serviço) balance, allowing receipt of up to 5 future annual installments as a lump sum. Repayment is via annual deduction from the FGTS balance; interest rates from 1.79% per month. Integration with Caixa Econômica Federal's FGTS system is required.
• Crédito na Conta (CNC) Personal loan for retirees, INSS pensioners, and public servants available regardless of whether payroll deduction margin is available. Funds released within 24 hours of credit approval; interest rates from 10.9% to 26.0% monthly. Distributed through help! stores and direct channels.
• Empréstimo Pessoal Personal loan with installments debited from the customer's Bmg credit card bill, targeting individuals who do not have payroll deduction margin available.
• Portabilidade de Empréstimo Consignado Loan portability service allowing customers to transfer an existing consignado loan from another bank to Banco Bmg, potentially reducing interest rates and monthly installments and offering possible cash-back ('troco') upon refinancing.
• Cartão de Crédito Consignado (Bmg Card) Credit card for retirees, INSS pensioners, and public servants with automatic minimum payment deducted from the benefit. Features lower interest rates than conventional cards, limit up to 1.6x the benefit, up to 70% of the limit available for cash withdrawal via Cirrus-24horas ATMs, and pharmacy discounts at Drogaria São Paulo and Drogaria Pacheco. Includes free life insurance underwritten by Generali Brasil and BMG Seguradora.
• Cartão de Crédito Consignado Benefício Consignado credit card offering zero annual fee, limit up to 1.6x the benefit or salary, up to 40 days to pay the bill, free life insurance and funeral assistance, and pharmacy discounts up to 35% on generic medications at Drogaria São Paulo and Drogaria Pacheco.
• Cartão de Crédito Sem Anuidade (Conta Digital) Fee-free credit card linked to the digital account, with annual fee waived when monthly spending reaches R$100 or when the customer holds R$5,000 or more invested at Bmg. Supports international purchases on the Mastercard network, Volta Pra Mim cashback, and Banco24Horas ATM withdrawals.
• Cartão Limite Certo Credit card linked to a Cofrinho Bmg CDB investment: the money deposited in the Cofrinho CLC is automatically converted into credit limit on the card. Requires no credit analysis or income proof; minimum investment of R$100, maximum limit of R$50,000; yields 100% of CDI.
• Cartões dos Times (Corinthians, Galo, Vasco, Bahia) Co-branded credit cards with four major Brazilian football clubs — Sport Club Corinthians Paulista, Clube Atlético Mineiro (Galo), Club de Regatas Vasco da Gama, and Esporte Clube Bahia — enabling fans to support their team with each purchase using their digital account card and to access stadium and team-related promotions.
• Conta Digital Bmg Full-service digital bank account accessible via mobile app, offering Pix payments, CDB investments, the Cofrinho Bmg savings feature, cashback, insurance, and multi-package service tiers (Ilimitado, Padronizado 1–4, Essencial) with varying fees and benefits. Basic digital account is free with Pix, transfers, and basic card services.
• Cofrinho Bmg Savings and micro-investment feature linked to a CDB investment, allowing customers to set financial goals, make deposits starting from R$1, and earn up to 100% of CDI daily with no lock-in period and full FGC protection up to R$250,000 per CPF.
• Investimentos (CDB, LCI, LCA) Fixed-income investment products including six CDB types (Super Poup, IPCA+, Escalonado, Renda Mensal, DI, Prefixado), LCI (real estate), and LCA (agribusiness), all with FGC protection up to R$250,000 per CPF and no maintenance or administration fees. Minimum investment from R$50 for CDBs and R$1 for Cofrinho Bmg.
• Bmg Seguro (Insurance Suite) Suite of personal insurance products including Bmg Med (health), Seguro FGTS Protegido, Seguro Vida Familiar, Seguro Cartão Protegido, Seguro Prestamista, free life insurance for consignado credit card holders (Generali + BMG Seguradora), Crédito do Trabalhador Protection, and Seguro Conta e Celular Protegidos.
• Bmg Corporate Corporate banking division offering Commercial Banking, Capital Markets, Agronegócio (agribusiness financing), Trade Finance (including Câmbio and Derivatives/hedge solutions), Loans and Financing, and Internet Banking for legal entities (ib.bancobmg.com.br). Serves medium and large companies as a strategic financial partner.
• Desenrola Brasil (Debt Renegotiation Program) Government-aligned debt renegotiation program allowing Banco Bmg customers to renegotiate overdue loans and credit card debts with discounts of up to 90%, accessed through the bank's dedicated negotiation portal.

Quantifiable outcome

• Consignado loan interest rates from 1.85% monthly (24.60% annually) vs 6.8% for conventional personal loans
• +3 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature3 records

Partnerships

22 partnerships are on record, tiered core and minor.

• MastercardcoreTechnology or IntegrationMastercard is the card network partner for Bmg's credit cards, enabling domestic and international purchases at all Mastercard-accepting merchants. Includes access to Mastercard Surpreenda rewards program.
• Generali Brasil SeguroscoreOthersInsurance partner providing life insurance for consignable credit cards. Generali leads with 60% coverage of the cosseguro arrangement. Central de Atendimento: 3004 9817 / 0800 728 2076.
• BMG SeguradoracoreOthersCo-insurer in the life insurance arrangement for consignable credit cards, responsible for 40% of the cosseguro coverage.
• Drogaria São Paulo e Drogaria Pacheco (DPSP)minorGTM or Marketing PartnerPharmacy network partnership offering exclusive discounts to Bmg cardholders: 35% on generic medications, 15% on branded medications, 10% on vitamins.
• Sport Club Corinthians PaulistaminorGTM or Marketing PartnerCo-branded credit card partnership with major Brazilian football club, offering fan-focused benefits and stadium promotions.
• Clube Atlético Mineiro (Galo)minorGTM or Marketing PartnerCo-branded credit card partnership with major Brazilian football club, offering fan-focused benefits and stadium promotions.
• Club de Regatas Vasco da GamaminorGTM or Marketing PartnerCo-branded credit card partnership with major Brazilian football club, offering fan-focused benefits and stadium promotions.
• Esporte Clube BahiaminorGTM or Marketing PartnerCo-branded credit card partnership with major Brazilian football club, offering fan-focused benefits and stadium promotions.
• Fundo Garantidor de Crédito (FGC)coreOthersGovernment-backed deposit insurance protecting customer investments up to R$ 250,000 per CPF for CDBs and savings products.
• Banco Central do BrasilcoreOthersRegulatory partner enabling Pix instant payments, Open Finance data sharing, and eSocial integration for CLT loan processing.
• Digital Tech Ltda.minorOthersDebt collection partner in São Paulo/SP. CNPJ: 29.175.761/0001-66. 24-hour customer service. Address: Rua Samuel Morse, 120, 16º Andar, Brooklin, CEP: 04576-060.
• FiducialminorOthersDebt collection partner in Belo Horizonte/MG. CNPJ: 22.440.788/0001-90. Address: Rua Espírito Santo, 616, 8º Andar, Centro, CEP: 30160-920.
• GRBminorOthersDebt collection partner in São Paulo/SP. CNPJ: 15.358.414/0001-64. Address: R. 24 de Maio, 208, República, CEP: 01041-904.
• Grupo BarcelosminorOthersDebt collection partner in Belo Horizonte/MG. CNPJ: 03.857.626/0001-07. Address: Rua Espírito Santo, 250 - 6º andar, Centro, CEP: 30160-030.
• Grupo ServicesminorOthersDebt collection partner in Curitiba/PR. CNPJ: 00.584.567/0001-52. Address: Rua Marechal Deodoro, 314, Centro, CEP: 80010-010.
• Meu AcertominorOthersDebt collection partner in Belo Horizonte/MG. CNPJ: 24.533.496/0001-27. Address: R. Bernardo Mascarenhas, 46, Cidade Jardim, CEP: 30380-010.
• PaschoalottominorOthersDebt collection partner in Marília/SP. CNPJ: 05.500.934/0001-06. Address: Professor Antonio Alba, 75 - Jardim São Gabriel Bloco XIII, CEP: 17525-140.
• PERSONALCOBminorOthersDebt collection partner in São Caetano do Sul/SP. CNPJ: 12.837.042/0001-60. Address: Rua Oswaldo Cruz, 1356 - Santa Paula, CEP: 09540-280.
• Quite JáminorOthersDebt collection partner in Curitiba/PR. CNPJ: 06.145.272/0001-66. Address: Avenida Cândido de Abreu, 70, CEP: 80530-000. 24-hour service.
• RoveriminorOthersDebt collection partner in São Caetano do Sul/SP. CNPJ: 01.201.940/0001-01. Address: Av. Conselheiro Antonio Prado, 390 – Centro, CEP: 09521-005.
• Serasa Limpa NomeminorOthersDebt collection partner in São Carlos/SP. CNPJ: 62.173.620/0093-06. Address: Av. Doutor Heitor José Reali, 360, Loc. 148 - Quadra 001 - Lote 77, Distrito Industrial Miguel Abdelnur, CEP: 13571-385.
• TRC TabordaminorOthersDebt collection partner in Curitiba/PR. CNPJ: 05.348.049/0001-53. Address: Av. Marechal Floriano Peixoto, 523, Centro, CEP: 80010-130.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Banco Pan: Banco Pan is a Brazilian commercial bank with a similar model focused on consumer credit, payroll-deductible loans (consignado), credit cards, and digital accounts, making it the closest direct competitor to Banco Bmg in the vertical-focused retail credit space.
• C6 Bank: C6 Bank is a Brazilian digital bank offering digital accounts, credit cards, loans, and investments targeting consumer and SME segments, directly competing with Banco Bmg's Conta Digital and consumer credit card offerings.
• Banco Inter: Banco Inter is a Brazilian digital-first bank serving retail and SME customers with accounts, cards, loans, and investments, competing head-to-head with Banco Bmg's digital channel strategy across overlapping consumer and small business segments.
• Nubank: Nubank is the largest Brazilian neobank, offering free digital accounts, credit cards, personal loans, and investments, and directly competes with Banco Bmg for the same retail and CLT worker customer base with a digital-native product experience.

Broad incumbents

• Banco do Brasil: Banco do Brasil is one of Brazil's largest government-linked commercial banks, offering the full spectrum of retail, corporate, agribusiness, and government payroll-deductible lending, overlapping broadly with Banco Bmg's product set including INSS consignado.
• Itaú Unibanco: Itaú is Brazil's largest private commercial bank with a full retail, SME, corporate, and investment banking franchise, serving the same consumer and corporate customer segments as Banco Bmg at significantly greater scale.
• Bradesco: Bradesco is one of Brazil's largest private banks offering retail, SME, corporate, and insurance services, competing with Banco Bmg in payroll-deductible loans, credit cards, and digital accounts across overlapping customer segments.
• Caixa Econômica Federal: Caixa is Brazil's federal savings bank and a major FGTS administrator, competing directly with Banco Bmg in FGTS advance products, INSS consignado, and government-linked retail banking services across Brazil.
• Santander Brasil: Santander Brasil is a major foreign-owned commercial bank offering retail, SME, and corporate banking products, competing with Banco Bmg across consumer credit, credit cards, and payroll-deductible loans.

Emerging players

• PagBank (PagSeguro): PagBank is a Brazilian digital payments and banking platform serving SMEs and consumers with accounts, card acquiring, and credit products, emerging as a competitor in the SME and digital consumer banking segments where Banco Bmg's Bmg Empresas division operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bancobmg
• YouTubeyoutube.com/channel/UCHWv3vX22IPFpBlSARDcoZg
• Facebookfacebook.com/bmgdigitalgratuita
• LinkedInlinkedin.com/company/bancobmg
• Instagraminstagram.com/bancobmg

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banco Bmg