Brb Banco De Brasilia SaBMFBOVESPA: BSLI3

Brazil central bank tells lender BRB to put $490 million under provision, Valor reports

· Issued by Brb Banco De Brasilia SA

Brazil's central bank asked state-run lender BRB BMFBOVESPA:BSLI3 to make a provision of 2.6 billion reais ($492 million), newspaper Valor Economico reported on Thursday, citing a document from the monetary authority dated January 7.

  • The provision should be recorded in BRB's fourth-quarter earnings, Valor said.

  • It was not clear whether the request is related to BRB's purchase of credit portfolio from lender Banco Master, it added.

  • BRB and the central bank did not immediately respond to a request for comment sent by Reuters.

    ($1 = 5.2844 reais)