Grupo JBS to Open Consumer Lending Bank This Month, Veja Says

J&F Participacoes SA, which controls JBS SA (JBSS3), the world’s largest beef producer, plans to open its new consumer-focused bank on Nov. 17, Veja reported, without saying where it obtained the information.

The bank, renamed Banco Original, will focus on payroll lending and microcredit and use the structure of Banco Matone SA, which J&F acquired in March, the Sao Paulo-based magazine reported in its Holofote column.

A JBS official in Sao Paulo, who declined to be identified in accordance with company policy, confirmed the bank would open this month.

To contact the reporter on this story: Gabrielle Coppola in Sao Paulo at gcoppola@bloomberg.net.

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulos@bloomberg.net.

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