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4d ago

Governor Removes 12 BRB Executives as Central Bank Presses Capital Fix

Regulators seek about R$6.6 billion in loss reserves tied to risky credit bought from Banco Master.

Diretores e superintendentes teriam dado aval a negócios fraudulentos entre o BRB e o Banco Master.
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Overview

  • The central bank’s president met with Distrito Federal governor Celina Leão to review BRB’s finances, late disclosures and the steps needed to rebuild capital.
  • After presenting a plan from the bank’s new management, Leão said BRB will not fail and pledged to deliver a solution within 30 days.
  • Leão removed 12 managers linked to the prior administration after an independent audit, now with the Federal Police, reported credit purchases from Banco Master without proper risk checks and a heavy concentration of more than R$30 billion from that originator.
  • Shareholders are scheduled to vote on April 22 on a capital increase intended to restore compliance with prudential rules and ease liquidity strain.
  • BRB missed the March 31 deadline to publish 2025 results and is working toward May 29 for the overdue statements, a delay that can draw fines from the central bank and the securities regulator.