Digital Bank records consistent growth across
all business lines, with an increased customer base, TPV, and
deposits. ROAE reaches 15.2%
SÃO PAULO, Feb. 21,
2025 /PRNewswire/ -- PagBank (NYSE: PAGS), a
leading digital bank offering a comprehensive suite of financial
services and payment solutions – always searching to make the
financial lives of people and businesses easier – closed the fourth
quarter of 2024 (4Q24) with a net revenue of R$5.1 billion, an increase of 18% compared to
the same period of 2023. It also recorded net revenues of
R$631 million, reflecting a 21%
YoY surge, reaffirming its ability to achieve sustainable growth
and its resilience in a challenging macroeconomic environment.
Moreover, the return on average equity (ROAE) reached 15.2% in
2024, reinforcing the strength of the results.
"PagBank's performance in the last quarter of 2024 proves our
ability to navigate different economic cycles consistently. Even
facing challenges such as high interest rates and exchange rate
volatility, we maintained our growth strategy, expanded business,
acquired new customers, and strengthened our financial services
platform," said PagBank's CEO Alexandre Magnani.
In 4Q2024, PagBank reached 33.2 million customers, a rise
of 2.1 million customers in the year. Meanwhile, the total payment
volume (TPV) reached R$146
billion, representing a 28% increase compared to 4Q23.
TPV totaled R$518 billion throughout
the year, reflecting 32% YoY growth.
In 2024, the company invested R$2.3
billion in technology, launched new products and services,
improved the quality of service to our customers, and expanded
business.
Another highlight was the expanded credit portfolio, which
reached R$48 billion,
reflecting 46% year-over-year growth. The total deposit volume
amounted to R$36,1 billion, an
increase of 31% YoY, demonstrating customers' confidence in the
institution.
"PagBank is a comprehensive digital bank, offering our
customers access to a diverse portfolio of financial and payment
products and services, from acquiring solutions to credit products,
investments, insurance, and more. We are present all over the
country. Currently, we have the largest payment solutions
acceptance network, with 6,3 million merchant costumers. The
robustness of our financial ecosystem is also evidenced by the
nearly 18 million active customers who choose PagBank as their
primary banking platform," said Gustavo Sechin, PagBank's
Director of IR, ESG, Market Intelligence, and Economics.
Financial discipline and the pursuit of greater operational
efficiency resulted in a 74 basis-point expansion in operational
leverage for the quarter. The share buyback program, which totaled
R$784 million in 2024, reinforces
PagBank's commitment to creating value for shareholders. "We
remain focused on maximizing returns for our investors, combining
solid growth with disciplined financial management. In this
sense, PagBank grows in scale and strengthens its profitability
consistently", said Artur
Schunck, PagBank's CFO.
Outlook for 2025: Monitoring Market Trends and Focusing 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 making financial life easier for
individuals and businesses, delivering an experience that
consolidates and simplifies our customers' financial relationships.
In 2025, we expect to expand our market presence, reinforcing our
commitment to our customers, shareholders, and business
partners", said Magnani.
Beyond its business expansion, PagBank keeps advancing its ESG
initiatives de ESG, consolidating itself as a reference in the
finance industry for its good environmental, social, and governance
practices.
To access PagBank's full 4Q2024 balance sheet, click here.
About PagBank
PagBank promotes innovative solutions in financial
services and means of payment, automating the process of buying,
selling, and transferring to promote the business of any person or
company simply and securely. PagBank, a company of the UOL
Group - Brazil's Internet leader -
acts as an issuer and acquirer, offering digital accounts and
complete solutions for online and in-person payments (via mobile
and POS devices).
PagBank also offers a wide variety of payment
methods, such as credit and prepaid cards, bank transfers, boleto
payments, account balances, and more. PagBank (PagSeguro Internet
Instituição de Pagamento S.A.) is regulated by the Central Bank of
Brazil as a payment institution,
issuer of electronic money, issuer of post-paid instruments, and
acquirer, with partnerships with the main card brands. Its parent
company, PagSeguro Digital, is publicly traded in the United States (NYSE: PAGS) and regulated
by the SEC (Securities and Exchange Commission). The distribution
of mutual funds is carried out by BancoSeguro S.A., authorized by
the Central Bank of Brazil, the
Securities and Exchange Commission, and affiliated with
ANBIMA.
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SOURCE PagBank
