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A month after announcing the reorganisation of the J&F group's financial business, the company decided to capitalise Banco Original and will make a contribution of BRL 500 million to the operation. The resources will be used to give more strength to credit operations. After the changes, the bank focused on loans to companies, while PicPay stayed with the portfolio of individuals and has already accumulated more than 35 million monthly active customers. The move to capitalise Original is an important part of the bank's strategy to expand its wholesale credit portfolio. The goal is to reach BRL 11bn by the end of the year, which represents a 57% growth compared to the close of 2022.
The bank's focus is on the medium and large enterprise segments, in addition to larger companies and agribusiness, the cradle of the group's business. With the contribution, Banco Original will have BRL 4.7bn in capital. Of the R$500 million that the bank intends to make, and which still depends on authorisation from the Central Bank, R$350 million will be paid in and the remaining R$150 million can be used within a year.
Original already had capital levels above the minimum required by the Central Bank. At the end of 2022, it had a Basel ratio, which measures how much it can lend in credit without compromising its structure, of 12.8%, compared to 11% required by the regulator.
In addition to the contribution, Original is increasing its physical presence in regions of Brazil. This year, it more than doubled the number of offices, from seven spaces to 17. The reorganisation of J&F's financial business, announced exclusively by Broadcast, began to be communicated to clients on June 15 and should be completed this month.
A month after announcing the reorganisation of the J&F group's financial business, the company decided to capitalise Banco Original and will make a contribution of BRL 500 million to the operation. The resources will be used to give more strength to credit operations. After the changes, the bank focused on loans to companies, while PicPay stayed with the portfolio of individuals and has already accumulated more than 35 million monthly active customers. The move to capitalise Original is an important part of the bank's strategy to expand its wholesale credit portfolio. The goal is to reach BRL 11bn by the end of the year, which represents a 57% growth compared to the close of 2022.
The bank's focus is on the medium and large enterprise segments, in addition to larger companies and agribusiness, the cradle of the group's business. With the contribution, Banco Original will have BRL 4.7bn in capital. Of the R$500 million that the bank intends to make, and which still depends on authorisation from the Central Bank, R$350 million will be paid in and the remaining R$150 million can be used within a year.
Original already had capital levels above the minimum required by the Central Bank. At the end of 2022, it had a Basel ratio, which measures how much it can lend in credit without compromising its structure, of 12.8%, compared to 11% required by the regulator.
In addition to the contribution, Original is increasing its physical presence in regions of Brazil. This year, it more than doubled the number of offices, from seven spaces to 17. The reorganisation of J&F's financial business, announced exclusively by Broadcast, began to be communicated to clients on June 15 and should be completed this month.