Banco Máxima In 1974, the company was founded as Máxima Corretora de Títulos e Valores Mobiliários. The bank obtained permission from the Central Bank of Brazil to operate as a financial institution in 1990, which gave rise to Banco Máxima. Around ten years after, the bank began credit operations, expanding its portfolio to primarily include mortgage loans. Later on in 2016, however, Banco Máxima was close to insolvency after defaulting on their inventory of mortgage loans.
Banco Master From 2018 to 2021, the bank went through wholesale reforms in its layout and operational structure, with a capitalization of 400 million Brazilian real. The bank went on to be called Banco Master.
Will Bank On 22 February 2024, Banco Master announced that they would be buying a majority stake of Will Bank, a digital bank with more than 6 million customers, mainly in the
Northeast region of Brazil. The agreement, the value of which has not been revealed, enabled Banco Master to expand its customer base to 10.5 million people throughout the country. Will Bank had 756 employees as of 2024, and had as its target audience working class consumers without a bank account in other institutions. The institution had profits of 2.8 billion real in 2023. In 2021, it received a cash infusion of 250 million real from private equity firms XP and Atmos. With the transaction, Atmos and its founders left the business. Chu Kong, one of the people who initially created the idea of Will Bank and who was an associate of XP, continued to be an advisor for the bank. In October 2024, Will Bank announced their partnership with football player
Vinicius Júnior, who plays for both the
Brazilian national team and
Real Madrid, as their new ambassador.
Oncoclínicas On 22 May 2024, Banco Master built a financial operation with funds from investment firms Quíron and Tessália to undersign a billion reais for the new initiatives of Oncoclínicas, a health network specializing in cancer treatments. With this, the funds anchored by Banco Master went on to hold 12% of Oncoclínicas, for which the increase in capital was complimented by another 500 million real by CEO and founder Bruno Lemos Ferrari. This elevated the total capital of the company to 1.5 billion real. Ferrari's contribution to Oncoclínicas was also structured by Banco Master. With the operation, its equity stake rose from 5% to 11%.
Goldman Sachs also held 36% of the company. The rest of the actions were flattened by the market. Oncoclínicas informed that the new resources would help them to reinforce its capital structure and for it to maintain its growth strategy in Brazil. ==Liquidation of Banco Master and Will Bank==