Investor Relations

Moody’s Local upgrades Agibank’s rating to “”

The report was published by the ratings agency on June 23, raising the company’s issuer rating from “” to “”


São Paulo, June 23rd, 2023 – Agibank announces that Moody’s Local, agency specialized in risk ratings, upgraded Agibank’s rating from “” to “”, with stable outlook.

Moody’s highlights in their report that Agibank’s business model continues growing since 2020, focusing on acting as payroll payer of Social Security benefits. The upgrade also considers factors such as the company’s corporate governance, asset quality, diversification of funding sources, as well as capital and liquidity conditions.

“We welcome our ratings upgrade as a recognition of the strongholds we built in the previous years. We reached a sustainable growth condition allied to profitability that comes as a result of our strategic direction, which is supported by pillars such as the close relationship with customers through our own channels, an assertive asset and liability management for the profile of our credit portfolio, austerity and discipline in costs and expenses, and a healthy monetization of our customer base via credit, insurance and services tailor-made for this audience” comments Thiago Souza Aor, Agibank’s CFO & Investor Relations Officer.

Agibank is consolidated as a business that allies profitability and sustainable growth. With almost 900 hubs throughout Brazil and more than 5 million total customers, the company had a 59% credit portfolio growth in the last year, reaching an annualized ROAE of 19.5% in the first quarter of 2023, with improvements in credit defaulting rates – NPL over 90 days of 4.9% by the end of March 2023 –and still maintaining comfortable levels of liquidity and capital, with a Capital Adequacy Ratio of 14.7%.

“The upgrade is another achievement that will contribute to keep scaling our business, allowing us to access more funding avenues, improve our credit operation spreads and reinforce the market’s perception of Agibank. With these gains, we have increasingly more ways to make the day to day lives of all of our people – the customers, employees, and shareholder’s – better”, concludes Thiago.

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