Digital bank PagBank reported recurring net profit of R$ 575 million in Q1 2024 — a 4% growth compared to the same period last year. The result fell slightly below analysts' expectations of R$ 580 million for the UOL group bank. ✓
Press quotes (2)
"O banco digital PagBank teve lucro líquido recorrente de R$ 575 milhões no primeiro trimestre, avanço de 4% na comparação com o mesmo período de 2025, segundo balanço divulgado nesta terça-feira (12)."
"Analistas, em média, esperavam lucro líquido de R$ 580 milhões para o banco do grupo UOL, segundo dados da LSEG."
PagBank's net revenue totaled R$ 3.3 billion in the period, representing a 6% annual increase, driven by accelerating banking platform growth. Profitability measured by ROAE advanced to 15.8%, up 80 basis points year-over-year. ✓
Press quotes (2)
"A receita líquida somou R$ 3,3 bilhões no primeiro trimestre, representando um ganho de 6% na comparação anual, tendo como impulso a aceleração da plataforma de banking, disse a empresa."
"Já o indicador de rentabilidade ROAE do PagBank avançou para 15,8%, subindo 80 pontos básicos em relação ao ano anterior."
The bank ended the quarter with 34 million clients, 6% growth for the year. The credit portfolio reached R$ 5 billion, expanding 36% annually — slightly exceeding the company's projected growth guidance of 25% to 35% for the year. ✓
Press quotes (2)
"O banco encerrou o trimestre com uma base de 34 milhões de clientes, número 6% maior que o visto ano passado."
"A carteira de crédito ficou em R$ 5 bilhões, o que representa um aumento de 36% ano a ano, informou a instituição financeira. O aumento percentual supera levemente o guidance de expansão da carteira que a companhia tinha projetado para o ano, de 25% a 35%."
According to CEO Carlos Maud, PagBank raised its outlook for Selic at year-end to "a number probably closer to 13.50%". CFO Gustavo Sechin said the institution knows how to "navigate environments with high degrees of instability and uncertainty", commenting on the numbers amid the domestic macroeconomic scenario. ≈
Press quotes (2)
"Estamos olhando para um número provavelmente mais próximo de 13,50%, disse Carlos Maud, CEO do PagBank."
"Sabemos navegar em ambientes com alto grau de instabilidade e incerteza, disse Gustavo Sechin, diretor financeiro do PagBank"
No claim was reported the same way by every source.
Covered by only some sources, or where the accounts diverge.
Covered by only some sources (2)
PagBank sees little impact from the Novo Desenrola program on its business due to its small credit portfolio size
Comparative reference with Nubank's profit of US$ 379 million in Q1 2024
-
How does PagBank's performance compare with other Brazilian digital banks?
Why it's still unknown: Only one comparative reference with Nubank was obtained, but systematic comparative data with Inter, C6 and other direct peers were not available.
Did not cover: CNN Brasil -
What is PagBank's weight in UOL group's consolidated results?
Why it's still unknown: Sources mention that PagBank belongs to the UOL group, but don't detail its percentage contribution to the holding company's consolidated result.
Did not cover: CNN Brasil -
What are the specific operational synergies between PagBank and UOL group's other operations?
Why it's still unknown: It was not detailed how Universo Online's user base and other group assets contribute to the digital bank's customer acquisition.
Did not cover: CNN Brasil