Investor Relations

Agibank achieves rating ‘brA’ affirmed by S&P Global

The rating represents an upgrade in relation to Agibank’s previous risk ratings, now being monitored by all the main ratings agencies


São Paulo, March 20th, 2024 – Agibank announces that S&P Global, agency specialized in risk ratings, affirmed its first rating to Agibank, as ‘brA’ with stable outlook.

The S&P Global comments in their report that the ‘brA’ affirmation reflets the view that the bank has been successful in its business plan, with growing market share indicators, in addition to having profitability above its peers, given to consistent and differentiated returns. As factors that could lead to a future ratings upgrade, they will assess the ability to maintain profitability above average even in periods of reduced interest rates, and increased portfolio efficiency, without compromising capital metrics, asset quality and liquidity.

“Agibank is at a sustainable growing condition combined with profitability, which is a result of our strategic direction, based on principality and an exclusive relationship model with the customer via a hybrid platform, an assertive asset and liability management for the profile of our credit portfolio, austerity and cost discipline, in addition to healthy monetization of our clients base via credit, insurance and services designed for this audience” comments Felipe Gaspar Oliveira, Agibank’s Head of Investor Relations and M&A.

This is the third rating affirmed to Agibank, being the first in the ‘brA’ rank, and consolidates the ratings monitoring of Agibank with the three global players active in this market: Moody’s Local, Fitch Ratings and S&P Global. In 2023, the Bank also received ratings upgrades with both agencies that already carried out its monitoring.

The Bank is consolidated at a business model that combines profitability and sustainable growth. With more than 900 smart hubs throughout Brazil and almost 3 million active clients, Agibank had a credit portfolio growth of 55% in 2023, reaching 33,8% of ROE, followed by improvement in defaulting rates – with overdue portfolio above 90 days of 3,9% by the end of December 2023 – and still maintained comfortable levels of liquidity and capital, with Capital Adequacy Ratio (Basel III) above 14,0%.

“We are now monitored by all active ratings agencies, which strengthens our commitment to transparency and best corporate governance practices. The consistency in the evolution of the rating agencies’ perception over Agibank helps us continue scaling our business and these achievements allow us to access more and more alternatives to have increasingly competitive product and service conditions.”, reinforces Glauber Correa, Agibank’s CEO.

The full report, as published by the ratings agency, can be accessed here (Portuguese only).