TPV reached 112 billion BRL (+27% YoY), more than twice the industry's growth and 31 billion BRL in deposits, reinforcing the balance sheet for expansion of receivables anticipation and credit concession. SÃO PAULO, May 24, 2024 /PRNewswire/ -- PagBank (NYSE:PAGS), a complete digital bank in financial services and payments solution and one of the largest digital banks in Brazil, announces its results for the first quarter of 2024 (Q124). The main highlights of the period include a record recurring net profit  of 522 million BRL (+33% YoY), while the net accounting profit reached 483 million BRL (+31 YoY%). Alexandre Magnani, CEO of PagBank, points out the continuity of the good results presented in the last quarters, highlighting the expressive gain of market share in payments (acquirings), balancing growth with profitability, while the Company establishes itself among the largest financial institutions in Brazil in number of clients: "We are more than 31 million customers and our execution has been consistent. We have consolidated our value proposition for micro, small, and medium-sized enterprises, facilitating the financial life of individuals and businesses. At the same time, we have captured opportunities for client-consumers who do not have a relationship with payment machines through payroll loans, our broad investment platform, and the offer of a complete bank," says the CEO of PagBank. In acquirings, the TPV registered was 112 billion BRL (+27% YoY), growing in all segments (MSMBs and Large Companies, E-commerce, and Cross-border businesses1). In digital banking, PagBank reached 66 billion BRL in Cash-In (+48% YoY), a metric that represents the financial volume received from other financial institutions in PagBank accounts, excluding acquisition, especially Pix, business account products, and salary portability. The substantial volumes of TPV and Cash-in led deposits to record numbers of nearly 31 billion BRL (+64% ...