Agibank

What Agibank does

Agibank (Banco Agibank S.A.) is a Brazilian commercial bank that operates a hybrid phygital distribution model, serving more than 7.1 million active customers across 671 cities via 1,000+ physical Smart Hub stores complemented by a proprietary mobile app, WhatsApp banking, and online channels. Founded in 1999 as Agiplan and rebranded as a challenger bank in 2018, the company specializes in serving financially underserved Brazilian consumers—primarily INSS retirees, federal/state/municipal public servants, and formal private-sector (CLT) workers—with payroll-deductible credit (consignado) at rates starting from 1.58% per month, alongside personal loans, Mastercard-branded debit/credit/benefit cards, Pix payments, insurance, and the Agi+ subscription benefits club. Agibank holds roughly 9% market share in the INSS consignado segment, and the credit portfolio reached R$35.5 billion (approximately 30% YoY growth) in 2026. The banking subsidiary is wholly owned by holding company AGI Inc., which completed a NYSE IPO on February 11, 2026 under the ticker AGBK at a US$1.92B valuation.

The bank runs on a 100% cloud-native, in-house core banking platform with AI-driven credit underwriting, RPA-enabled back-office automation, and integrated WhatsApp service channels designed to lower friction for lower digital-literacy segments. Technology investment is now extending into a newly launched asset management subsidiary, Agi Asset (March 2026), positioned as the foundation for future wholesale banking and offering fixed income, private credit, FIDCs, CRIs, and CRAs. Recent capital markets activity includes two FIDC structures (~$350M in mid-2025 and R$2.5B in April 2026), a BRL 4B debenture offering in August 2025, and seven Letras Financeiras issuances, all rated or structured to support funding for continued credit growth; Moody's Local upgraded Agibank to AA.br in June 2026.

Agibank's revenue model is multi-stream: usage-based interest income from payroll-deductible and personal loans (the primary driver), recurring subscription fees from Agi+ tiers (R$39.90–R$59.90/month), Mastercard interchange and card fees, insurance commissions from partnerships with Generali and Icatu Seguros, and management/performance fees from Agi Asset. FY2025 revenue is guided to R$10.55–10.70 billion (versus R$7.28B in 2024), with Q1 2026 revenue up 24% YoY and recurring revenue lines growing approximately 50% annually; net income reached R$870M in 2024, up 127% YoY. GTM combines direct-to-consumer onboarding (app, web, in-store), product-led digital adoption, and a correspondent agent network, with brand visibility supported by sertanejo artist Simone Mendes as ambassador.

Name

Agibank

Legal name

Banco Agibank S.A.

Website

https://agibank.com.br

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Agibank is a Brazilian hybrid phygital commercial bank serving 7.1 million customers across 671 cities via 1,000+ Smart Hub stores and digital channels, specializing in payroll-deductible credit for INSS retirees, public servants, and CLT workers; listed on NYSE as AGBK.

Ownership category

akta.pro rank

Headquarters

HQ city

Campinas

HQ country

Brazil

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Credit and Lending Interest Income: Primary revenue driver. Interest income from payroll-deductible loans (consignado), personal loans, and overdraft facilities. R$35.5 billion credit portfolio supporting recurring net interest income.
2. Agi+ Subscription Fees: Monthly subscription packages (Básico R$39.90, Na Medida R$49.90, Completo R$59.90) bundling banking services, insurance, and benefits.
3. Insurance Commissions: Commission revenue from distribution of life, credit life, and capitalization products via partnerships with Generali and Icatu Seguros.
4. Credit Card Interchange and Fees: Mastercard-branded credit and debit card issuance generating interchange, annuity, and late-payment fees.
5. Asset Management Fees: Management and performance fees from Agi Asset (formerly Lucas Ramos), managing investment funds for retail and institutional clients.
6. Banking Service Fees: Fees from account services, transfers, withdrawals, and FIDC (receivables) operations co-managed with Oliveira Trust.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Agibank is a Brazilian hybrid phygital challenger bank that provides a free digital checking account, Mastercard-branded debit and credit cards, payroll-deductible loans (consignado) targeted at INSS retirees, public servants, and CLT workers, personal loans, insurance products, and the Agi+ subscription benefits club, all delivered through 1,000+ physical Smart Hub stores, a mobile app, WhatsApp, and online channels. It also operates Agi Asset, a wholly owned asset management subsidiary offering fixed income, private credit, FIDCs, CRIs, and CRAs. The bank earns primarily from interest income on its R$35.5 billion credit portfolio, subscription fees, insurance commissions, and card interchange.

Product overview

Agibank is a Brazilian hybrid digital and physical bank operating a platform-plus-modules architecture. The core platform is the Agibank mobile app and the Conta Digital Agibank, which integrates a comprehensive suite of customer-facing financial modules including Pix payments, the Cartões Agi family (Débito, Crédito, Consignado, and Consignado de Benefícios under Mastercard), and a range of loan products (Crédito do Trabalhador/CLT, Consignado para Servidor Público, Empréstimo Pessoal, Portabilidade de Consignado, Consignado INSS, and Antecipação de FGTS). Complementary modules include Seguros (Vida Mensal, Prestamista, Agi Proteção), the Benefício INSS receiving service, and the Agi+ subscription benefits club. For B2B and wholesale clients, the platform extends to Agi Asset (asset management), FIDC structures (Agibank FIDC I and II), Letras Financeiras, Debêntures, and CRI VERT. The bank serves over 6 million customers across 671 cities through 1,000+ physical stores and its digital channels, and is part of Agi Inc. (NYSE: AGBK).

Differentiator

Problem solved

Functional benefit

Brands

• Agibank Asset Management (Agi Asset): Wholly owned asset management subsidiary launched in March 2026 following CVM approval, focused on private credit and fixed income, including FIDCs, CRIs, CRAs. Headquartered in São Paulo and led by former Itaú executive Luiz Locchi de Oliveira Ribeiro; designed as the foundation for Agibank's future wholesale banking operations.
• Agi+
• Cartões Agi (Agi Cards)

Products and services

• Conta Digital Agibank
• Cartões Agi (Débito, Crédito, Consignado, Consignado de Benefícios)
• Pix
• Crédito do Trabalhador (Consignado CLT)
• Consignado para Servidor Público
• Empréstimo Pessoal
• Portabilidade de Consignado
• Benefício INSS
• Antecipação de FGTS
• Seguros (Vida Mensal, Prestamista, Agi Proteção)
• Agi+
• Agi Asset (Agibank Asset Management)
• FIDC Agibank (I e II)
• Letras Financeiras (Public Financial Bills)
• Debêntures Agibank
• CRI VERT (Certificados de Recebíveis Imobiliários)

Quantifiable outcome

• R$870 million net income in 2024 with 127% year-over-year growth.
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability6 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• Oliveira TrustcoreTechnology or IntegrationCo-manager of Agibank's FIDC (Receivables Investment Fund) structures, providing fiduciary and structured credit services.
• Banco24HorascoreChannel Partner/ Reseller/ DistributorShared ATM network partnership enabling Agibank customers to access cash withdrawal and deposit services through Banco24Horas ATMs nationwide.
• MastercardflagshipStrategic or Co-development PartnerCard network partner issuing Mastercard-branded credit and debit cards to Agibank customers, enabling global acceptance and interchange economics.
• GeneralicoreOEM/ Whitelabel/ Licensing PartnerInsurance partner distributing life and credit life insurance products through Agibank's customer base under co-branded or white-label arrangements.
• Icatu SeguroscoreOEM/ Whitelabel/ Licensing PartnerCapitalization (capitalização) product partner offering savings-linked capitalization products distributed through Agibank channels.
• Simone MendesflagshipGTM or Marketing PartnerBrazilian sertanejo artist serving as Agibank's brand ambassador across mass-market campaigns and advertising.
• FSB HoldingcoreGTM or Marketing PartnerCommunications and public relations firm providing PR strategy and earned media support for Agibank.
• IXL-Center BostonminorStrategic or Co-development PartnerInnovation evaluation partner recognized in Agibank's innovation awards; supports benchmarking of Agibank's innovation practices.
• AnbimaminorOthersBrazilian Association of Financial and Capital Market Entities; Agibank participates in industry association activities and standards for asset management.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Banco Pan: Banco Pan is a Brazilian commercial bank that, like Agibank, focuses heavily on payroll-deductible (consignado) lending to INSS retirees, public servants and CLT workers, plus consumer credit and insurance distribution. Highly comparable business mix and target segments.
• Nubank: Nubank is Brazil's largest digital bank, serving tens of millions of retail customers with a free checking account, credit cards, and personal loans via mobile app. Directly competes for the same underserved Brazilian consumer segments Agibank targets, though with a digital-only model.
• Banco Inter: Banco Inter is a Brazilian digital-only bank offering free checking, PIX, credit, insurance and investment products to mass-market consumers via super-app. Comparable platform model and target customers; publicly traded on Nasdaq.
• C6 Bank: C6 Bank is a Brazilian digital bank (J&F-owned) targeting middle-class retail customers with accounts, credit cards, loans and investments. Competes for overlapping customer segments with Agibank, particularly the salaried workforce and digital-first consumers.
• Banco Original: Banco Original is a Brazilian digital-focused bank serving retail, SME, and agribusiness customers with accounts, loans, and Pix. Targets similar middle-market and underserved Brazilian consumers through digital channels.
• PicPay: PicPay is a Brazilian digital wallet and financial services platform offering accounts, cards, loans, and payments. Cited as a comparable peer that influenced Agibank's IPO pricing; targets mass-market Brazilian consumers with similar financial products.

Emerging players

• Neon Pagamentos: Neon is a Brazilian digital bank/account backed by BV and Banco do Brasil, focused on low-income and underbanked consumers. Overlaps with Agibank's underserved-segment focus, though smaller scale and different funding profile.

Broad incumbents

• Banco do Brasil: Banco do Brasil is Brazil's largest state-controlled bank with dominant market share in INSS payroll-deductible lending and public-sector banking. Direct competitor in Agibank's core consignado segment with vastly larger scale and funding base.
• Caixa Econômica Federal: Caixa is Brazil's federal savings bank with very large market share in INSS benefit payments and payroll-deductible lending. Major incumbent competitor in Agibank's primary target segment with extensive physical branch network.
• Itaú Unibanco: Itaú is Brazil's largest private commercial bank with extensive retail, SME, asset management and insurance operations. Provides a reference point for valuation and is the prior employer of Agi Asset's head; competes for the same Brazilian retail and corporate customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/agibank
• YouTubeyoutube.com/@agibankcarreiras
• Facebookfacebook.com/Agibank
• LinkedInlinkedin.com/company/agibank
• Instagraminstagram.com/agibank
• TikToktiktok.com/@agibank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Agibank