BRB is evaluating the sale of its subsidiary focused on payroll-deducted loans as part of a capitalization plan.

The management of Banco de Brasília, controlled by the government of the Federal District, is evaluating the possibility of selling BRB Financeira, one of the institution's digital arms that operates in various locations across the country.

The subsidiary focuses on public and private payroll loans, vehicle financing, and FGTS (Brazilian employee severance fund) advances. This measure is part of a set of solutions to replenish BRB's capital, which was affected by transactions with Master, owned by Daniel Vorcaro.

When contacted, BRB stated that the institution's capital reinforcement plan "is based on market solutions and instruments provided for in current regulations." Sources within the bank confirmed confidentially that the sale of BRB Financeira is part of the capitalization plan.

According to executives familiar with the negotiations, there are at least three players interested in BRB Financeira. One of these companies is Caixa Econômica Federal, sources say. However, this will require approval from the Ministry of Finance, which is the managing body of Caixa. When contacted, the federal bank said it would not comment.

According to market estimates, the sale of BRB Financeira could raise between R$750 million and R$1 billion.

Last year, the former president of BRB, Paulo Henrique Costa, sold 49% of BRB Financeira, but the deal was undone by the bank's new management. In a statement to the market on December 26, BRB informed that "the termination of the agreement stems from a consensual decision by the parties not to proceed with negotiations with the Central Bank (...) considering that the operation was subject to the fulfillment of contractual and regulatory conditions."

Among the measures in the plan presented to the Central Bank earlier this month are the sale of portfolios and other assets, the structuring of a fund with real estate, and the contracting of a loan by the Credit Guarantee Fund (FGC) or a group of banks, in addition to other capital management measures. The Central Bank estimates a need for an injection of R$ 5 billion.

On Friday, the Federal District government sent a bill to the Legislative Chamber requesting authorization to replenish the institution's share capital. The proposal foresees capital contributions, including movable or immovable property. Twelve areas of the local government were listed that could be part of the bank's capital injection. Yesterday, the local government requested authorization for a loan of up to R$ 6,6 billion to contribute to BRB.

BRB's management has until the end of March to finalize the equation and present the 2025 balance sheet. The purchase of Master's portfolios reached a volume of R$ 12,2 billion and was part of the former management's strategy to acquire the bank from Daniel Vorcaro. The operation was vetoed by the Central Bank, which liquidated Master in December of last year. ( With information from O Globo Online )