O PagBank, a complete digital bank in financial services and payment methods, whose purpose is to simplify the financial lives of people and businesses, closed the fourth quarter of 2024 (4Q24) with a net revenue of R$ 5.1 billion, an 18% increase compared to the same period the previous year, and net profit of R$ 631 million, reflecting a 21% year-over-year increase, reaffirming its capacity for sustainable growth and resilience in the face of a challenging macroeconomic scenario. In this context, the return on average equity (ROAE) reached 15.2% in 2024, reinforcing the solidity of the results.
“PagBank’s performance in the last quarter of 2024 proves our ability to navigate different economic cycles with consistency. Even facing challenges such as rising interest rates and exchange rate volatility, we maintained our growth strategy, expanding businesses, acquiring new customers, and strengthening our financial services platform,” highlights Alexandre Magnani, CEO of PagBank.
In 4Q24, PagBank reached the milestone of 33.2 million customers, a growth of 2.1 million customers in the year. The total payment volume (TPV) reached R$ 146 billion, representing a 28% increase over the fourth quarter of 2023. For the year, TPV was R$ 518 billion, a 32% growth compared to 2023.
The company invested R$ 2.3 billion in technology throughout 2024, launching new products and services, improving customer service quality, and expanding businesses.
The expanded credit portfolio also stood out, reaching R$ 48 billion, a 46% year-over-year growth. The total deposit volume amounted to R$ 36.1 billion, a 31% year-over-year increase, reflecting customers’ trust in the institution.
“PagBank is a complete digital bank, offering our customers access to a diversified portfolio of financial and payment products and services ranging from acquiring solutions, as well as credit products, investments, insurance, among others. We are present throughout the country and currently have the largest payment solutions acceptance network, with 6.3 million merchants. The robustness of our financial ecosystem is also evidenced by the nearly 18 million active customers who choose PagBank as their primary banking platform,” points out Gustavo Sechin, Director of IR, ESG, Market Intelligence, and Economics at PagBank.
Financial discipline and the pursuit of greater operational efficiency resulted in a 74 basis-point expansion in operational leverage in the quarter. The share buyback program, which totaled R$ 784 million in 2024, reinforces PagBank’s commitment to generating value for shareholders. “We remain focused on maximizing returns for our investors, combining solid growth with disciplined financial management. In this sense, PagBank not only grows in scale but also strengthens its profitability consistently,” states Artur Schunck, CFO of PagBank.
Outlook for 2025: eyeing market movements and focused on growth
PagBank maintains a positive outlook for 2025. The bank expects to continue expanding its customer base, broadening its product offerings, and increasing its market share, always guided by financial solidity and innovation.
“We remain committed to our purpose of simplifying the financial lives of people and businesses, delivering an experience that consolidates and simplifies our customers’ financial relationships. Our expectation for 2025 is to expand our market presence, reinforcing our commitment to our customers, shareholders, and business partners,” concludes Magnani.
In addition to business expansion, PagBank continues to advance in its ESG initiatives, consolidating itself as a reference in the financial sector for good environmental, social, and governance practices.
To access PagBank’s financial statements for 4Q24, click here.
