Brazilian lender BRB expects lower Banco Master price with deal adjustment, CEO says

Reuters

Thu, Apr 10, 2025, 9:45 AM 1 min read

SAO PAULO (Reuters) - The acquisition of immoderate of lender Banco Master's assets by Brazil's government-controlled slope BRB is apt to exclude "much more" than 23 cardinal reais ($3.89 billion) successful assets, BRB's president said connected Thursday.

BRB is inactive analyzing Banco Master and the last terms for its assets has not been defined, though it is expected to alteration from earlier indications, President Paulo Henrique Costa said astatine a property conference, aft the slope released fourth-quarter results.

The initially announced terms was 2 cardinal reais.

"Due diligence astatine this infinitesimal is focused connected the recognition portfolio," helium said, adding that lone a information of the recognition operations would beryllium considered portion of the concern to beryllium analyzed by the Brazilian cardinal bank.

Last week, Costa told Reuters the woody would impact the acquisition of Master's healthiest and astir strategically applicable assets, leaving assets worthy astir 23 cardinal reais extracurricular the deal.

On Thursday, Costa said the Master operations that involvement BRB are those dealing with mean and ample concern segments, payroll recognition cards, and overseas speech services.

"Therefore, assets that bash not person guarantees oregon hazard profiles aligned with BRB volition not beryllium portion of it," helium said.

($1 = 5.9060 reais)

(Reporting by Alberto Alerigi Jr; Writing by Isabel Teles; Editing by Rod Nickel)