Banco Bmg Offloads BRL 750M Consigned Card Portfolio to FIDC
Banco Bmg has transferred BRL 750 million in payroll-deducted credit card rights to FIDC Consig Premium I, freeing up capital and reducing risk.
In a strategic move to optimize its balance sheet, Banco Bmg S.A. (BMGB4) has completed the transfer of BRL 750 million in credit rights to the FIDC Consig Premium I, a credit rights investment fund managed by Angá Asset Management. The transaction was finalized without any retention of risks or benefits by Bmg, effectively freeing up regulatory capital for the institution.
The offloaded portfolio consists of payroll-deducted credit cards (cartão de crédito consignado) and payroll-deducted benefit cards, which are backed by National Social Security Institute (INSS) pension payments. By executing this risk-free transfer, Bmg reduces its overall risk exposure and establishes a pathway for more efficient asset allocation and potential return on equity (ROE) improvements.
This transaction follows a disclosure to the Securities and Exchange Commission of Brazil (CVM) in late May, which outlined the framework for the principal and successive credit assignments to the fund's Class A shares. The move comes amid a positive session for the Brazilian stock market, with the benchmark Ibovespa index (IBOV) trading up 0.76% at 173,295.14. Meanwhile, major financial and commodity equities showed mixed results, with Itau Unibanco (ITUB4) rising 1.29% to 42.24, Petrobras (PETR4) falling 1.01% to 38.06, and Vale (VALE3) down 0.65% at 78.15.