Banco BMG

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Banco BMG is one of Brazil's major retail banks. The bank, formerly known as Banco de Minas Gerais S.A., was founded in 1930.

Banco BMG had a minority share in a joint venture with Brazil’s Itaú Unibanco, called Itau BMG Consignado, which lent to customers who hold payroll accounts, until December 2016 when Itau bought BMG's remaining share.^[1]

References

^ "Itau to assume full control of Itau BMG Consignado, which lends to customers who hold payroll accounts". The Wall Street Journal. September 30, 2016.