THEBanking, complete digital bank in financial services and payment methods, announces the results of the third quarter of 2024 (3Q24). Among the main highlights of the period, the Company registerednet revenue of R$ 4,8 bi no 3T24 (+20% a/a). PagBank also achieved arecurring net income, record in the history of the institution, ofR$ 572 million(+30% a/a), with anet accounting profit, also record, ofR$ 531 million (+29% a/a).
Alexandre Magnani, CEO of PagBank, celebrates the impressive results: "In this quarter we presented growth in payments more than twice that of the card market and we also had growth in banking revenues of 52%, demonstrating the strength of our value proposition to our clients. We accomplished all of this by presenting a solid balance sheet and generating increasing returns for our shareholders with a 31% growth in earnings per share
In the acquisition, theTPVregistered fromR$ 136,3 billionit is a new record for the company, com crescimento anual de 37% (+10% t/t). The value was driven by the increase in all segments, mainly among the micros, small and medium enterprises (SMEs), which represent 65% of the TPV. In the new growth verticals of the business, highlight for the operationsonline, cross-borderand automations, which already represent a third of the total TPV
In the context of digital banking, PagBank reached a record volume ofdeposits, with a total ofR$ 34,2 billion, impressionantes 59% a mais de incremento a/a, reflection of the growth in balances in PagBank accounts and the higher volume of investments raised in the CDBs issued by the bank
“We have one andexpansion of revenues at a quite significant pace, with an adequate margin for the business. We made important investments in processes, innovation and the quality of service, and we benefit from a reduction in the cost of funding, what gives us greater competitiveness in the market“,points to Gustavo Sechin, IR Director, ESG, Market Intelligence and PagBank Economy
Another highlight of Q3 2024, a credit portfolio registrou uma expansão de 30% a/a, reachingR$ 3,2 billion, leveraging low-risk and high-engagement products, like a credit card, payroll loan and anticipation of the birthday withdrawal of the FGTS
It also contributes to this growth, the gradual beginning of the resumption in the granting of other lines of credit, how loans for working capital for small and medium enterprises, expansion of current credit card limits and special limit for clients with better credit risk profiles. The company believes that these are the pillars of growth for the credit portfolio in the future
According to Artur Schunck, CFO of PagBank, the acceleration of volumetry and revenues, combined with discipline in costs and expenses, they were the main pillars for the record results. “We managed to balance growth with profitabilityand we gained traction in all segments of activity. We built operational leverage, we reduced the cost of raising funds through growth in deposits and improved risk management. This performance makes us confident to deliver the expected result for the year, says the CFO
Other highlights
A net revenuein 3Q24 wasR$ 4,8 billion (+20% a/a), impulsionada por um forte crescimento da adquirência e ainda maior nas atividades de banking (+52% a/a).
The digital bank recorded an increase in margin on financial services (+68% 3Q24). We reached the mark of32,1 million customers, reinforcing PagBank's position as one of the largest financial institutions in the country
PagBank has been working on launchingnew products and servicesthat will expand the portfolio of solutions to make the financial life of their clients easier. As theMultiple Card, that came to combine the functions of credit and debit into a single product, generating more convenience for PagBank customers, and the3% cashbackon the first credit card bill, what is being offered to customers who make purchases using the credit function
We offer simple solutions, accessible and digital that make our clients' financial lives easier and that is why engagement with our payment and banking products and services has grown significantly. Our vision for the future is to build an interface that brings together all the information and functionalities that are important for the client's financial life, comment Magnani
Still with the aim of generating significant activity in negotiations with clients, PagBank is offering this Black Friday month, special and very advantageous conditions that should stimulate the market and attract new customers, Machine with a super discount, anticipation of FGTS Withdrawal, INSS Consigned Loan, transfer of Variable Income assets, in addition to cashback on the purchase of Life and Home Insurance
To access the complete balance of PagBank in Q3 2024, Click here.
