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PagBank reports recurring net income of R$ 575 million in 1Q26, driven by revenue growth and efficiency gains

PAGS
  • PagBank (NYSE: PAGS) announced first-quarter 2026 results with recurring net income of R$ 575 million, a 4% year-over-year increase.
  • Net revenue reached R$ 3.3 billion, representing 6% growth driven by accelerated expansion of the banking platform.
  • Banking revenue grew 41% year-over-year, contributing to a Return on Average Equity (ROAE) of 15.8%, up 80 basis points from the previous year.
  • Total deposits reached R$ 42 billion, a 23% year-over-year increase supported by AAA credit ratings from three global agencies.
  • The loan portfolio expanded to R$ 5 billion, a 36% year-over-year rise, with working capital loans surging 191%.
  • The customer base totaled 34 million users (up 6% year-over-year) alongside 6.3 million merchants & entrepreneurs.
  • Cash-in volume reached R$ 81 billion during the quarter, an 11% year-over-year increase.
  • Management cited revenue expansion, operating leverage, & efficiency gains as key drivers despite a challenging macroeconomic environment.