Agibank
Investor Relations

Agi Releases its 1Q22 Results

Campinas (SP), May 13, 2022 – Agi registered a net income of R$ 27.3 million on the first quarter of 2022, which represents an advance of 21.4% if compared to the same quarter of last year, when it achieved R$ 22.5 million. The growth is a result of strategic decisions taken in 2021, as the expansion of resilient portfolios, the opening of more than 200 hubs and the enhancing of credit offer.

“We realized hedge operations to match indexers of our liabilities to our assets, and the culture of new hubs guaranteed that we keep up our role in the credit concession mix, besides discipline towards execution and austerity in expenses. All these factors allow us to foresee a maintenance of positive and consistent results for the next quarters”, comments Thiago Souza, Financial & Investor Relations Officer of Agi.

Glauber Correa, CEO of Agi, affirms that the first quarter of 2022 was highlighted by sustainable growth, allied to monetization. “Our competitive advantages became even more attractive, allowing us to thrive even in an adverse scenario”, he adds.

The gross credit portfolio reached R$7.1 billion, an increase of 171.2% when compared to the previous year. The trajectory of the gradual change of the credit profile continued, favoring lines with lower risks and nominal taxes, like the payroll credit and payroll-linked credit card, that advanced 336.4% and 31.2% respectively compared to March 2021, and already registered a participation of 70.2% in the portfolio (versus 49.3% in March 2021).

“Also, in accordance with the strategy of improving client relationship, we expanded in 91.1% the personal credit portfolio for account holders, which already represents 26% of the total credit portfolio. This movement is essential to raising our participation as principal bank of our clients, extending the contact and relationship spots, allowing us to leverage others business verticals”, explains Glauber.

Defaulting over 90 days continued in controlled levels and reached 5.6% in March 2022, which means a substantial reduction compared to March 2021 (8.7%). “Growing with quality and in a sustainable way is non-negotiable. We have advanced in all stages of the credit cycle, guaranteeing the assertiveness on client segmentation, always optimizing the quality of the credit portfolio and adjusting us to the Country’s reality to continue granting credit in a responsible and sustainable way.

The number of total clients continued growing consistently over the quarters, reaching the threshold of more than 3.9 million – 34% more in comparison with the same quarter of last year – with an average of 2.8 products per active client. In the slice of account holders that receive their salary or benefit through Agi, the growth was 101.9%, compared to the same quarter of last year.

Total Revenues amounted to R$ 743.2 million in the first quarter of this year, which represents an increase of 87.8%, mainly by the raise of Revenues of Credit Operations (+79.5%) in line with a substantially higher Credit Portfolio in the quarter and Revenues of Bank Treasury & Securities (+540.9%).

Facing a complex macroeconomic environment, Agi continues focused on execution, with discipline and austerity in expenses. “When we look to the next months, the vision is that the potential market will be guided by consistent growth of core-portfolios and investment in channels and technology. This will boost even more the long-term relationship with our clients and generate a virtuous cycle of growth, anchored in a portfolio increasingly complete and with more attractive offers to the costumers”, adds Thiago.