FGC begins R$ 635 million payout to Simpala investors

The Credit Guarantee Fund (FGC) has begun paying out guarantees to depositors and investors of Simpala, a financial institution that underwent extrajudicial liquidation by the Central Bank this month. The fund is expected to disburse R$ 635.3 million to 22,000 eligible individuals, subject to a limit of R$ 250,000 per CPF or CNPJ. Individual clients must request guarantees via the FGC app, while legal entities must use the FGC website.

Additionally, the FGC reported that payments to creditors of the Master conglomerate—which includes Master, Master de Investimentos, and Letsbank—have reached R$ 40.2 billion, covering 98.77% of the total amount for 772,000 beneficiaries. Regarding Will Bank, a former part of the Master group, R$ 5.8 billion has been reimbursed to 283,000 people, representing 96.21% of the total volume. For Banco Pleno, the FGC has paid R$ 4.6 billion, or 95.27% of the total, to 137,000 people.