Fictor-Led Consortium Pitches R$3 Billion Restructuring of Banco Master

Overview

• Fictor announced a bid to acquire Banco Master alongside investors from the United Arab Emirates, subject to approvals by the Central Bank and Cade.
• Banco Master confirmed ongoing negotiations with the group but did not validate Fictor’s claim that a formal filing has been submitted to the regulator.
• Reporting points to nearly R$3 billion in new capital for the bank and a governance redesign under a multi‑shareholder holding structure.
• The plan would split the group: Will Bank linked to Mubadala, Banco Master de Investimento to UK and Arab investor groups, and Banco Master SA to Fictor with other foreign backers.
• If approved, the consortium says it will acquire all shares from controller Daniel Vorcaro, appoint new leadership, and rename the institution Banco Fictor, after a BRB purchase attempt was vetoed in September.