By Brazil Stock Guide – Bank of Brasília (BRB) has called an extraordinary shareholders’ meeting for Wednesday, March 18, to vote on a proposed capital increase, as the lender moves to strengthen its balance sheet following losses linked to assets from Banco Master. The measure hinges on the approval of a bill currently under review at the Federal District Legislative Chamber (CLDF).
The meeting notice was published on Tuesday (24) in an extra edition of the Federal District’s official gazette. In addition to the capital proposal, shareholders will vote on the ratification of appointed members to the bank’s Board of Directors.
The draft legislation submitted by the Federal District government authorizes up to R$6.6 billion in credit operations with the Credit Guarantee Fund (FGC) or other financial institutions. A revised version of the bill was presented on Tuesday (24), introducing adjustments to the capitalization framework.
Under the updated proposal, the number of properties offered by the Federal District — BRB’s controlling shareholder — was reduced from 12 to nine. Parque do Guará, an environmentally protected area, was removed from the list. The bill does not disclose an estimated value for the remaining assets.
According to the text, the properties may be sold, transferred, pledged as collateral for loans, or used in the structuring of real estate investment funds. Disposal or economic exploitation of the assets may be carried out either directly by the Federal District government or by BRB, including through combined transaction structures.
Lawmakers are scheduled to meet BRB Chief Executive Officer Nelson de Souza on Monday (2) to discuss the proposal. The vote at the legislative chamber is expected to take place in the following week.
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