Banco de Brasília (BRB) has entered into a memorandum of understanding with Quadra Capital to establish an investment fund valued at R$15 billion ($2.9 billion). The vehicle is designed to facilitate the transfer of assets acquired from Banco Master, a move the regional lender describes as a strategic effort to bolster its capital reserves and overall liquidity.
The transaction arrives during a period of intense scrutiny for BRB. The assets in question stem from operations with Banco Master, an institution that was liquidated by Brazil's Central Bank in November. For BRB, the creation of the fund represents a necessary decoupling from a portfolio that has become increasingly complicated by legal and regulatory headwinds.
The deal’s backdrop is shadowed by the ongoing "Compliance Zero" investigation. Last week, former BRB president Paulo Henrique Costa was arrested by Federal Police on suspicion of negotiating R$146 million in bribes to benefit Banco Master. With Master’s owner, Daniel Vorcaro, also in custody, the new fund serves as a financial firewall for an institution attempting to navigate a systemic crisis of governance.
With reporting from InfoMoney.
Source · InfoMoney
