Net Income of Agi grows 57% and credit portfolio increases 128% on the first semester of 2022
Total Revenues moves up 87% and active clients have an advance of 48% in comparison to the first half of 2021
Campinas, August 2022 – Agi registered a net income of R$43.3 million on the first semester of 2022, which represents an advance of 57.4% compared with the same semester of last year and confirms a scenario of profitability and constancy previously observed on the first quarter.
“Consistency defines the first semester of 2022, when we highlighted an adverse scenario, putting in evidence our competitive advantages. We come from a year of powerful acceleration and, after a first quarter of advance in the profitability, we were capable to maintain a sustainable rhythm of growth in the credit portfolio and results on the second quarter”, comments Glauber Correa, CEO of Agi.
The positive results also came of the decision to accelerate the acquisition of clients and the credit origination, that became visible even in the short and medium term. With a powerful innovation culture and centered on the client, we aimed efforts to advance in the construction of a portfolio even more resilient.
“We invested in culture of almost 200 smart hubs in 2021 aim they could be even more protagonists in our mix of credit concession, beyond the discipline towards execution and austerity on expenses. All these factors allow us to foresee the maintenance of positive and consistent results for the last semester of this year”, he adds.
The gross credit portfolio of Agi reached R$8.5 billion, an increase of 128.3% when compared to June 2021. The trajectory of the gradual change of the credit profile continued, favoring ines with lower risks and nominal taxes, like the payroll credit and payroll-linked credit card, that advanced 197.8% and 61.0%, respectively. Together, these lines registered a portfolio participation of 76.0% (versus 61.0% compared to the equivalent period of last year).
According to Correa, the growth on the credit portfolio was driven by the growth of the payroll credit portfolio, strengthened by opening of new categories in products, as well the margin resumption to the 35% level. “We also started the FGTS Anticipation modality focusing in another clients segment: the employees of private sector, that nowadays add up to 47 million people in Brazil and will be upcoming INSS beneficiaries, which allow us expand our client base with clearness in terms of monetization and value offer”, comments the CEO of Agi. This volume adds up to 36 million INSS beneficiaries that we already have access through the auction in 2019.
The personal credit portfolio to account holders increased 55.5% on the first semester of 2022 compared to the same period of last year, which represents 20.3% of the total portfolio. This movement is crucial to we raise our participation as principal bank of our clients, extending our contacts and relationship spots, allowing us to leverage others business verticals.
The number of total clients continued growing consistently over 2022. In June, Agi, reached the mark of almost 1.8 million active clients, with an average of 3.5 products actives per client. This rate is increasing as far as the oldest harvests mature, reaching more than 5.5 products by account holder that receives his salary or benefit by digital bank.
The Total Revenues of the digital bank increased 87.1% compared to the same period of last year, reaching R$ 1.587 billion in the first half of 2022. The advance owns mainly by the raise of Revenues of Credit Operations (77.4%) in line with the growth of Credit Portfolio and Revenues of Bank Treasury and Securities (+658.2%) substantially higher in the period, reflex of accounting the hedge operations realized for a greater efficiency in Managing of Assets and Liabilities.
“The advance on Revenues of Bank Treasury and Securities is also result of a ALM and Treasury management that, within the limits established by our Risks Management, provided real gains compared to benchmark, beyond the protection with regard to market risks (hedge)”, comments Thiago Souza, Financial & Investor Relations Officer of Agi.
The Central Bank of Brazil approved a new method of capital allocation for operational risks (RWAOpad), as of June 2022. As result of the approval, the adjusted Capital Adequacy Ratio reached 14.7% to the end of June 2022. This new reality enhances the business sustainability, maximizing our competitiveness and improving the capacity of generate value for our company and clients.
About Agi
Agi is a complete omnichannel platform with more than 12 different channels of service that work as an ecosystem to distribute financial and non-financial products and services, solving a variety of demands in the daily routine of millions of Brazilians. The channels chain includes more than 880 smart hubs distributed all over the Country and an app, among others, with the objective of democratize the access to services to the population through a complete and inclusive offer of products of credit, investments, payments, insurances, marketplace with cashback, beyond a complete banking solution. With the fastest onboarding of Brazil, Agi delivery simplicity to the customer using the best technological resources and data intelligence. All this guarantee the best offers for each client profile – young, mature and entrepreneurs.