The end of banks in Brazil


Extrajudicial liquidation of two banks was decreed by the Central Bank

The extrajudicial liquidation of the banks in question was ordered on February 15th. Almost two months later, approximately 28.5% of the 54 thousand creditors of both financial institutions in April had not yet requested payment of the ordinary guarantee to the Credit Guarantee Fund (FGC).

Depositors and liquidators could, since March, start the process of requesting payment through the FGC application. As of Monday (10th) in April, more than R$1.65 billion had already been paid to approximately 36 thousand creditors.

The entity functions as a type of reimbursement insurance to protect certain fixed income investments, up to the limits established in its regulations, in the event of intervention, bankruptcy or liquidation of financial institutions.

Investors who had investments in these financial institutions that went bankrupt are covered by the FGC (Credit Guarantee Fund) and will receive their money back up to a limit of R$250,000 per CPF.

Portocred – (Reproduction: Internet)

BRK – (Reproduction: Internet)

Portocred - (Reproduction: Internet)

Portocred – (Reproduction: Internet)



In February 2023, the Central Bank decreed the extrajudicial liquidation of the financial companies PortoCred and BRK.

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The two women were going through difficult situations to continue moving forward.

According to information from the Nord Investimentos website, despite this, securities from these banks were widely found on brokerage platforms and distributed to individual investors.

The great attraction was that these securities paid higher rates than traditional banks. As a result, they attracted many people interested in their products.

Banco BRK, for example, had been experiencing difficulties since 2017 and this information could easily be collected in Banco Data.

BRK’s Basel Index, which went bankrupt, was also well below the minimum necessary to avoid liquidation (around 10.5%).

PortoCred’s situation was quite similar, with a loss on the balance sheet and Basel below the acceptable minimum, and both were led to bankruptcy.

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The article is in Portuguese

Tags: banks Brazil



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