2023-11-16 15:58:00
O Banking, PagSeguro’s digital bank, released this Thursday (16) its financial results for 3Q23, confirming strong growth between the months of July and October. Recurring net profit (Non-GAAP) was R$440 million, up +7% y/y and +6% q/t, and R$1.2 billion in the first nine months of the year (+5% y/y). /The).
Net revenue once once more surpassed the R$4 billion mark (0% y/y and +5% q/t) and R$11.6 billion in the first nine months of the year (+2% y/y); accounting net profit was R$411 million in the quarter (+8% y/y and +7% q/t). The company recorded R$669 billion (+28% y/y) in the first nine months of this year, with R$244 billion in financial transactions.
Economy and market
16 Nov
Economy and market
16 Nov
The volume of acquiring payments (TPV) accounted for R$99.8 billion (+11% y/y and +8% q/t) in 3Q23, registering growth in all operating segments: micro-entrepreneurs, SMEs and large accounts. Furthermore, Pix transactions and electronic transfers sent to PagBank reached R$56 billion in the first three months of the second half of the year.
The recovery in revenues was the result of the acceleration in acquiring volumes, resuming growth above the industry (PAGS: +11% y/y; ABECS: +9% y/y) and the growth in financial services revenues, even following the ceiling exchange rates on prepaid/debit cards impacted developments in the previous quarter.
The credit portfolio ended the quarter at R$ 2.5 billion, a drop compared to the previous year, reflecting the run-off process of the working capital portfolio, partially offset by the growth in payroll loans and anticipation of the anniversary withdrawal of FGTS. As a consequence, portfolio default rates of up to 360 days continued to fall, reaching 10% in the period, a drop of more than 10 percentage points compared to the third quarter of 2022.
“These numbers already reflect the results of our successful strategy in diversifying our business: in acquiring, payment solutions for the physical and online world, with machines, Pix, issuing bills, payment links, tap on phone and more 300 automations available for any type of merchant.”, says Alexandre Magnani, CEO of PagBank.
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