The Brazilian bank Agibank reported record net income of R$215.5 million in the first quarter of 2024



With a credit portfolio close to R$18 billion, the Bank grew 6x the Brazilian market’s pace in the quarter, with high profitability.

SAO PAULO, May 13, 2024 /PRNewswire/ — The figures for the first quarter of 2024 of Agibank, a reference bank for the low-income segment in Brazil, display yet another historic result. In just the first three months of the year, the company reached a net income of R$215.5 million, 268.1% higher when compared to the same period in 2023 and 48.1% compared to 4Q23.

The operating income was R$ 312.3 million – an increase of 259.0% when compared to the first quarter of the previous year and equivalent to 51.3% of the result for the entire year of 2023, when the total was R$ 606.0 million.

“The impressive numbers in these first three months reflect a solid and very well implemented business strategy, which is redefining …

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