The Federal Police investigation into the operations of BRB (Banco Regional de Brasília) with Banco Master has led the Federal District financial institution to review its nationalization plans.
The intention has already been communicated by the president of the financial institution, Nelson de Souza, to the bank’s employees. He said in internal meetings that he would evaluate “how and if” the expansion would continue, since the new administration is mapping the extent of the damage caused by the purchase of credit portfolios with signs of fraud and papers from Banco Master.
At the beginning of 2019, the first year of the government of Ibaneis Rocha (MDB), the BRB had agencies in six states in addition to the DF: Goiás, Minas Gerais, Rio de Janeiro, São Paulo, Mato Grosso and Mato Grosso do Sul. As of June this year, it was in 19 states besides the federal capital.
This year, however, the bank closed more than 20 branches in Bahia, opened between 2021 and 2023, and put up for sale the furniture acquired to equip the units.
When asked, BRB indicated that it is “focused on consolidating and strengthening its business”. “There are no decisions or processes underway for the sale of assets outside the Federal District,” he continued.
The expansion of the bank beyond the federal capital is a strong point of the management of Ibaneis Rocha. The symbolic step of this new moment for the bank was the sponsorship of Flamengo, the governor’s favorite team, which began in 2020.
The 32 million reais annual contract placed the bank’s brand on the jersey of one of the country’s most popular teams. Since then, the bank has gained 3.7 million new customers.
Under this strategy, BRB sponsorship spending increased from BRL 7.2 million spent in 2019 to BRL 107.5 million last year.
This year, the estimated amount is BRL 125.8 million – of this total, BRL 82.3 million had already been spent by the end of September.
The new BRB administration, however, has opened an internal audit to re-evaluate all sponsorships. When questioned, the bank did not specify the reason for the investigation.
“All current contracts remain unchanged,” he limits himself to informing.
People familiar with the matter say the sponsorship audit is part of a broader investigation into the financial institution following the outbreak of the Master affair.
In recent years, in addition to the brand’s national exposure, BRB has sought to expand its operations into other states through competitive bidding. Won competitions to manage court filings in Alagoas, Bahia and Paraíba. In June this year, the Tocantins government salary list began.
At the end of March 2025, the portfolio of judicial deposits under BRB management amounted to 25 billion reais.
“Contracts remain fully executed. New business will still be guided by careful technical and regulatory assessments,” the BRB said.
In the first half of this year, the State Bank of Brasilia conducted lengthy negotiations for the acquisition of part of Banco Master’s assets. The process is under investigation and the acquisition has been blocked by the Central Bank.
With the PF’s launch of Operation Compliance Zero, former BRB president Paulo Henrique Costa was removed from office — he was eventually exonerated by Governor Ibaneis Rocha. The former president of La Caixa, Nelson de Souza, was chosen to replace him.
About The Author
