Panel SA: Banco24Horas sees service expansion in 2022 with macroeconomic challenges

TecBan, owner of Banco24Horas, is preparing to expand its services this year, attentive to the macroeconomic scenario, which will be the main challenge, in the assessment of Marcelo Gomes, director of administration, finance and people of the company.

“We already understood that 2022 would be a very challenging year from a macroeconomic point of view, and now, with these war issues, an entire environment will be impacted, with inflation and interest rates. We will have to be very attentive in our investment policy and the provision of services”, he says.

The executive says that the company wants to expand investments in open banking and open insurance, in addition to advancing in the digital currency market. Currently, the company’s ATMs already convert cryptocurrencies into cash.

Despite this, the use of physical currency continues to grow, according to the company, and is a priority for the company, which is expected to open new units of its Banco24Horas branches in remote areas and expand its mobile ATMs.

Gomes says that the volume of money in circulation increased by more than 20% in the pandemic, also influenced by emergency aid. In 2021, almost BRL 370 billion were withdrawn from Banco24Horas’ cashiers, says TecBan.

“The pandemic, when it appeared in March 2020 in that way, was really quite impactful, and we took an attitude of prudence. We changed the timing a little, but we didn’t stop making the investments”, says Gomes.

TecBan ended the year with a net profit of R$ 173 million. Gross revenue was BRL 3.2 billion, almost 7% higher than in 2020.

In addition to Banco24Horas, growth was driven by new sources of revenue. According to Gomes, 2021 materialized the company’s sustainable differentiation strategy, which remains in focus this year.

Joana Cunha with Andressa Motter and Ana Paula Branco