PicS NV Q1 Credit Portfolio Surpasses Guidance, Deposits Up 46%
PICS•PicS NV’s Q1 2026 credit portfolio reached BRL28 billion, 5.8% above guidance, while net interest margin exceeded 20%, driving IFRS net income of BRL152 million, 8.4% above target. Consumer deposits climbed 46% year-over-year to BRL30.8 billion, though non-performing loans rose to 8.9%.
1. Strong Q1 Financial Performance
PicS NV delivered robust results, with total credit portfolio reaching BRL28 billion, 5.8% above guidance, and net interest margin exceeding 20%, underpinning IFRS net income of BRL152 million, 8.4% above target. Adjusted net income of BRL169 million beat forecasts by 9.3%.
2. Deposit and Revenue Expansion
Consumer deposits surged 46% year-over-year to BRL30.8 billion, while net revenues rose 70% to BRL3.5 billion. Consolidated total payment volume climbed 31% to BRL156 billion, and average revenue per active client increased 55% to BRL80.7.
3. Credit Quality and Forward Outlook
Non-performing loans increased to 8.9% as the portfolio matures, with cost of risk maintained at 3.7%. Management expects NPLs to continue rising into the low teens and has set a conservative loan growth guide for Q2 2026.
