Itaú reported that one of its subsidiaries committed to acquiring BRB assets. The bank said the transaction amounts are immaterial and do not constitute a material fact. The clarification came after CVM questioned news involving negotiations with BRB.
BRB is facing a financial crisis following its acquisition of loan portfolios from Banco Master, an operation that resulted in severe asset deterioration and the need to provision around R$ 8.8 billion. The financial institution itself reported that the Master assets considered healthy are valued at R$ 21.9 billion.
Itaú confirmed that subsidiary committed to acquire BRB assets
Bank declared that transaction amounts are immaterial to the company
Clarification was made after CVM questioned Correio Braziliense report
Covered by only some sources, or where the accounts diverge.
Covered by only some sources (1)
André Esteves of BTG said he is evaluating acquisition of BRB assets
Conflicting versions (1)
Identity of who made R$ 15 billion proposal for BRB assets
No gaps declared — all sources converge on the material facts.