The Bank of Brasília (BRB) plans to deliver a capital plan to the Central Bank by this Friday (6) to address losses from the alleged fraud in credit portfolios acquired from Banco Master. The plan includes options such as creating a real estate investment fund, a loan from the Credit Guarantee Fund (FGC), and capital injection from the Federal District Government. Meanwhile, the BRB president is set to meet with district deputies to explain the crisis's impact.
The Bank of Brasília (BRB), a state-owned institution in the Federal District, is grappling with a financial crisis worsened by its failed attempt to acquire a stake in Banco Master, owned by Daniel Vorcaro and liquidated by the Central Bank in November 2025. In January 2026, the BC ordered the BRB to provision R$ 2.6 billion to cover losses on R$ 12.2 billion in allegedly fraudulent credit operations bought from Master. The Federal Police are investigating under Operation Compliance Zero.
To rebuild its balance sheet by the end of March, when it must report results to the market—given its listing on the B3—the BRB has started selling assets and is preparing a capitalization plan. Options include creating a real estate investment fund, securing a loan from the FGC with Federal District Government guarantees, and a direct capital injection from the controlling government. The bank must submit the plan to the BC by February 6.
Amid the pressure, BRB President Nelson Antônio de Souza plans to meet with deputies from the Federal District Legislative Assembly in the coming days. Expectations are that he will detail the estimated impact—the BC director Ailton de Aquino mentioned a hole of at least R$ 5 billion in testimony—and ongoing measures, such as an independent investigation. The meeting is being coordinated with the Ibaneis Rocha (MDB) government, seeking legislative approval for solutions like the FGC loan.
Prior to approving the deal in March 2025, the BRB's legal department warned the board about Master's liquidity in a March 24 opinion signed by Jacques Veloso de Melo. The document stressed the importance of liquidity and Basel ratios for financial solidity, but the purchase was unanimously approved on March 28. The BC vetoed the deal in September 2025, citing succession risks.
Former President Paulo Henrique Costa, removed after Vorcaro's arrest, defended the due diligence in testimony, stating that 11 internal areas analyzed viability. However, Master had only R$ 4 million in cash at liquidation, with deposits below 1% of requirements.
