Banco Bmg Offloads R$ 750 Million Consigned Card Portfolio

SÃO PAULO — Banco Bmg S.A. (BMGB4) has finalized the transfer of R$ 750 million in payroll-deducted credit card receivables to the Fundo de Investimento em Direitos Creditórios (FIDC) Consig Premium I. The clean-break portfolio transaction was executed without any retention of risk or benefits by Bmg. This strategic move allows the bank to eliminate credit risk exposure on its payroll-deducted credit card book and free up regulatory capital.

The offloaded portfolio consists of credit card and benefit card receivables, where repayments are typically deducted directly from National Social Security Institute (INSS) pension and retirement distributions. The FIDC Consig Premium I is managed by Angá Asset Management and administered by Banco Daycoval. Bmg had previously outlined this transaction in regulatory filings with the Brazilian Securities and Exchange Commission (CVM) in late May, paving the way for the structured securitization.

This balance sheet optimization comes amid broader positive momentum in the Brazilian financial markets. Today, the benchmark Ibovespa index (IBOV) rose 0.76% to 173,295.14 points. In corporate trading, Itaú Unibanco (ITUB4) gained 1.29% to R$ 42.24, while commodity heavyweights Petrobras (PETR4) and Vale (VALE3) slipped, falling 1.01% to R$ 38.06 and 0.65% to R$ 78.15, respectively.