São Paulo, March 26, 2025 – Agibank began offering the new private payroll credit, a new loan type recently launched by the Brazilian Federal Government and operated via the CTPS app (Brazil’s app for employment record book, Carteira de Trabalho e Previdência Social).
The market has caught attention with the expectation of substantial growth, offering credit directly to formal private sector workers. According to initial data, since the product’s launch on March 21, Agibank has concentrated approximately 25% of simulations in the whole country. Market demand has exceeded expectations, and Agibank’s unique hybrid model has allowed the bank to be a pioneer in this new product by efficiently handling the high volume of requests.
Until now, Agibank has offered payroll loans for INSS beneficiaries and public sector employees. With the addition of private payroll loans, the bank will be able to originate a new secured credit line. Together, these three segments represent an addressable market of 100 million Brazilians who may be eligible for Agibank’s credit offerings.
Shortly after the launch, the Agibank app became the most downloaded app in Brazil on both the App Store and Google Play, reflecting the high demand for this new modality. Moreover, the bank also had an increase of in-person visits to its more than 1,000 Smart Hubs present throughout Brazil, reinforcing the hybrid service model.
A recent report published by J.P. Morgan’s research has highlighted the bank as one of the most active players and with competitive rates, starting at 2.99% per month, as well as flexibility in conditions offered to clients.
Agibank is preparing to integrate immediately as phases 2 and 3 are rolled out, as scheduled by the Federal Government, ensuring the continuity of its pioneering action and boosting its strategic positioning.
For Agibank’s CEO, Glauber Correa, entering private payroll loans is a strategic move: “The growth potential of this market is relevant and tends to increase our protagonism as the segment matures.”
The number of inquiries received in the first few days clearly indicates strong interest from the target audience, reinforcing the product’s potential for growth within the bank’s overall strategy.