Last Friday (28) BRB announced the purchase of 58 % of the capital of Banco Master. Paulo Gala, Senior Economist in Master, explained to Cnn money This process is part of a strategy that benefits from both institutions.
“For BRB, it seems to me that it is very logical, because it is a bank that has access to a cheaper box, but it wants to expand beyond the federal region. For the main bank, it will also make sense to get a cheaper box.” Cnn money This Thursday (3).
The chief economist stressed the importance of this integration to increase the competitiveness in the Brazilian banking system.
“We are talking about the formation of a bank of more than $ 100 billion, so it is really respectful, and this disturbs competitors a lot.”
Main expansion
Banco Master recorded the expressive financial performance, bending his net income to one billion dollars.
The balance issued by the Foundation also revealed a significant increase in shares, which amounted to $ 4.7 billion.
He also highlighted the strong expansion ceremony of the institution.
“It was a good result, practically multiplied compared to last year,” said the chief economist at the Master.
Discussion about the use of FGC
Gala also discussed recent discussions on the use of a FGC credit guarantee box by Banco Master. He defended the importance of FGC as a tool for promoting credit in Brazil.
He said: “The distortion of the female genital organs is the great credit enhancement tool in Brazil. The systems that have these deposit schemes guarantee efficiency and gain competition and help reduce the power of monopoly for large banks.”
The economist argued that the current ecosystem, which includes investment platforms, female genital mutilation, and the promotion of small and medium banks, enables competition for the strength of large banks, creating a more competitive environment in the Brazilian financial sector.
