PagBank Q1 Recurring Income R$575M, Banking Revenue Jumps 41%
PAGS•PagBank generated R$575 million in recurring net income in 1Q26, a 4% increase year over year, on net revenue of R$3.3 billion, up 6%. Banking revenue surged 41% y/y, pushing ROAE to 15.8% and supporting deposits of R$42 billion and a R$5 billion loan portfolio.
1. Financial Highlights
PagBank reported recurring net income of R$575 million in 1Q26, up 4% year over year, on net revenue of R$3.3 billion, a 6% increase. Return on average equity rose to 15.8%, up 80 basis points from the prior year, reflecting improved profitability.
2. Banking Platform Growth
Revenue from PagBank’s banking platform jumped 41% year over year, driving operating leverage and efficiency gains that underpinned margin expansion during the quarter. This segment’s acceleration was a key growth driver amid broader revenue gains.
3. Deposit and Loan Expansion
Deposits climbed 23% to R$42 billion, while the loan portfolio expanded 36% to R$5 billion. Working capital loans led growth with a 191% increase, complemented by strong credit card and payroll lending advances.
4. Customer Base and Cash-In Volume
The platform served 34 million customers, a 6% rise, and supported 6.3 million merchants and entrepreneurs. Cash-in volume reached R$81 billion, up 11% year over year, reflecting higher inflows into PagBank accounts.
