Investor Relations

Agibank reports net income of R$430 million in 2023 and ROE of 33.8%

With a credit portfolio close to R$16 billion, the Bank has demonstrated outstanding performance, with average growth 5x the market pace and high profitability in the last three Years


 Campinas, February 20, 2024 – 2023 was another year of record growth for Agibank. The Company achieved a net income of R$430.1 million, which represents an increase of 325.5% compared to 2022. Total revenue reached R$5.1 billion, an increase of 50.7% when compared to 2022.

In the last quarter of 2023 alone, net income reached R$145.5 million and operating result R$193.3 million, an increase of 5.7% and 14.2% compared to the previous quarter, respectively. In the year, operating income reached R$606.0 million, an increase of 372.8% compared to last year.

“It was a very positive year for Agibank, in which we were able to see the results of a very well designed and implemented strategy. We are the neobank that is disrupting the traditional model of bank branches in Brazil for lower-income people. We created an omnichannel platform, which combines a fully digital solution with more than 900 smart hubs, which are stores designed to serve the non-digitally native audience. The majority of customers of this profile need the support and advisory offered in person so that they can transition from the physical to the digital environment, and this audience represents an addressable market that totals more than 100 million people in Brazil”, explains Marciano Testa, founder and Executive Chairman of Agibank.

The credit portfolio grew at an accelerated pace and increased 55.4% in the year, reaching R$15.8 billion, with a focus on granting credit to account holders who receive salaries or social benefits through the Bank. The significant growth of the portfolio was also followed by the improvement of the delinquency ratios, which fell from 5.2% in 2022 to 3.9% in 2023 (-1.3 p.p. YoY) and the expansion of the coverage ratio to 134.7% (+25.0 p.p. YoY), preserving the quality of the portfolio and solid risk management.

Agibank ended 2023 with a Net Interest Income (NII) of R$3.0 billion, an increase of 39.4% compared to 2022. In 4Q23, the amount was R$882.2 million, an increase of 11.6% compared to to the previous quarter.

In 2023, gross credit origination reached R$13.4 billion, an increase of 43.8% compared to the previous year. The evolution of the Operating Efficiency Ratio also stood out with an annual improvement of 10.7 p.p., reaching 56.2%. The Bank ended 2023 with more than 2.7 million active customers.

“Our business is based on customer relationships, with a focus on principality through payroll. This allows us to work with more attractive proposals and improve our products and services”, says Glauber Correa, CEO of Agibank.

In 2023, the company received rating upgrades from the agencies Fitch Ratings (to ‘A-(bra)’ with a positive outlook) and Moody’s Local (to ‘’ with a stable outlook). Among the factors evaluated by rating agencies are the quality of the credit portfolio and the strengthening of the business profile, as well as increasing profitability, capitalization and risk profile, financing diversification and liquidity. “Our new ratings level is a great achievement and helps us continue to scale our business by allowing us to access more funding avenues, improve the competitiveness of our credit operations, in addition to strengthening the market’s perception of Agibank”, reinforces the CEO of the company.