Brazil Bank Turns Into Money Pit for Former Steel Billionaires

  • Steinbruch family already injected 1.4 billion reais in Fibra
  • Lender will receive more capital from CSN owners, CEO says

The Steinbruchs, a family of former Brazilian billionaires who own Banco Fibra SA, have already injected about 1.4 billion reais ($336 million) into the company to cover losses since 2010, more than its book value. The tally is likely to get higher later this year.

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