Net income in 1H24 reaches R$ 440.5
million, driven by the company's unique business
model
SAO
PAULO, Aug. 20, 2024 /PRNewswire/ -- Agibank, a
financial institution that operates a hybrid business model that
combines digital solutions and smart hubs, recorded exceptional
results in the first half of 2024. With a net income of
R$ 440,5 million in the first half of
the year, three times higher than in the same period last year, and
with a return on equity (ROAE) of 47.2% in the last 12 months, the
company continues to demonstrate its capacity for sustainable
growth and high profitability.
In the second quarter, net income was R$
225.0 million, marking a growth of 154.5% compared to the
same period of the previous year. The institution's loan portfolio
advanced 53.0% year-on-year, reaching R$19.1
billion, standing out for growing five times faster than the
market.
This performance was accompanied by a significant improvement in
the delinquency ratio over 90 days, which fell 1.2 percentage
points year-on-year to 3.3%, and an expansion of the coverage ratio
to 142.1%, an increase of 20.7 percentage points.
With more than 3.2 million active customers, Agibank's business
model is based on relationships, achieving principality through
payroll, which generates a virtuous cycle of quality for assets and
better pricing and value proposition for the customer base. The
bank's NPS score is one of the highest in the system, with 77
points, reflecting customer satisfaction and loyalty.
"The first half of 2024 consolidates the continuity of our pace
of growth and delivery of exceptional results. Our strategy of
combining a robust digital platform with a network of Smart Hubs
has proven to be extremely effective in providing access and
financial inclusion to millions of Brazilians," says Glauber
Corrêa, CEO of Agibank.
Marcello Dubeux, CFO of Agibank,
adds: "Our significant growth is the result of prudent and
efficient management, focused on ensuring the quality of the
portfolio and the solidity of risk management. The recent upgrade
of our credit ratings by major global agencies is a recognition of
our financial solidity and ability to continue to grow
sustainably."
The funding agreements signed in 2024, totaling up to
US$ 15.4 billion with global
partners, including Citibank, reinforce Agibank's ability to
maintain accelerated growth in credit assets and customer base,
without compromising the diversification of funding sources.
In addition, the intensive use of technology and artificial
intelligence in relationship processes and channels has allowed the
bank to increase the efficiency and quality of service, as well as
the optimization of several operational processes with high
analytical demand.
"Agibank continues to stand out in the Brazilian and global
banking scenario, showing that it is possible to combine
innovation, inclusion and profitability. With a clear vision of the
future, we are well positioned to face the challenges and take
advantage of the opportunities that present themselves", concluded
Corrêa.
About Agibank
Agibank has a unique business model in Brazil, created to serve an audience that
represents most of the Brazilian population, whose needs are still
far from the priorities of large banks and exclusively digital
banks. We are filling a blank space in the market by serving with
quality and dignity an audience that often feels invisible.
Our hybrid model combines the best of both worlds: a complete,
light, fast and easy digital bank, with Smart Hubs that provide a
welcoming, agile and accessible face-to-face experience for all
Brazilians. We develop customized solutions and a simple, inclusive
journey for customers who are not digital natives, ensuring a
significant competitive advantage. This approach allows us to
acquire more customers, build lasting relationships, and strengthen
our sustainable growth trajectory.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/agibank-posts-record-200-growth-in-half-year-net-income-302226384.html
SOURCE Agibank