By Brazil Stock Guide – Brazil’s central bank ordered the extrajudicial liquidation of Banco Pleno S.A. and extended the regime to Pleno Distribuidora de Títulos e Valores Mobiliários S.A., citing deterioration in its economic and financial condition, worsening liquidity and violations of prudential rules. The institutions had previously operated within the orbit of Banco Master before being sold in the second half of last year to Augusto Lima, a former business partner of the group’s controller.
Pleno, classified as an S4 institution under Brazil’s prudential framework for small and less complex banks, accounted for just 0.04% of total assets and 0.05% of total funding in the National Financial System. Regulators signaled no systemic risk, but emphasized that the lender failed to comply with supervisory determinations.
Lima had partnered with Banco Master since 2019, bringing into the group the CredCresta payroll-deductible credit card business, originally developed during the privatization of Bahia’s state food retailer under then-governor Rui Costa. CredCesta became a relevant niche lending arm within Banco Master focused on public servants and private-sector payroll clients.
Earlier this year, Lima exited the partnership and assumed control of Voiter, a bank that was later rebranded as Pleno. He injected a combined R$160 million in two capital contributions in an effort to stabilize the institution. Despite the fresh capital, the central bank determined that liquidity conditions continued to deteriorate and that regulatory breaches warranted liquidation.
Under Brazil’s banking law, the assets of controllers and administrators become legally frozen during the liquidation process. The central bank said it will continue to investigate responsibilities and may apply administrative sanctions or notify other authorities if necessary.
The move underscores Brasília’s strict supervisory stance toward smaller financial institutions, particularly those that expanded through specialized credit structures and aggressive funding strategies