Inter&Co, Inc Reports Second Quarter 2022 Financial Results
Inter&Co (NASDAQ: INTR | B3:INBR31), a leading Brazilian Super
App offering financial and non-financial services, reported today
financial results for its second quarter ended June 30, 2022.
Financial results are expressed in Brazilian reais and are
presented under IFRS (International Financial Reporting Standards).
The full earnings release has been made available on the Company’s
Investor Relations website at ri.bancointer.com.br/intereco.
"Staying away from the comfort
zone". If there is a phrase that best describes our second
quarter, this is certainly the one. We continue leading in
innovation by successfully concluding the listing of our shares in
Nasdaq and becoming the first ever Brazilian company to migrate
local shares to a US stock exchange. Our SuperApp continues to add
new features, like the Global Account, simplifying the life of
millions of people. On the financial front, our total gross
revenues reached a record of nearly R$1.5 billion, with an
expanding revenue per active client and decreasing cost-to-serve
and cost-income ratios. We are still at the early days of our
journey, and I’m fully convinced that the best is yet to come.”
João Vitor Menin, CEO of Inter&Co.
Highlights of the Second Quarter 2022:
delivered a strong quarter maintaining its disruptive growth pace
and reaching R$1.5 billion, increasing 130% YoY.
Customer growth: Inter surpassed the 20 million
mark during the quarter, reaching a total of 20.7 million clients,
growing 73% year-over-year (YoY).
Gross Loan Portfolio2: Reached R$19.5 billion,
increasing 56% YoY. The portfolio remains highly collateralized,
Income3: Reached 72%,
decreasing 19p.p. YoY in the quarter, thus increasingly showing the
results of its operational leverage
Net Income: Inter reported R$16 million net
US Expansion: Inter successfully launched its
global account enabling Brazilian domiciled clients to transact
internationally in a simple and cost-efficient manner, reaching 140
thousand global accounts by the end of June.
1 Total Gross Revenues = Interest income calculated using the
effective interest method + Revenues from services and commissions
+ Income from securities + Net gains / (losses) from derivatives +
Other revenues2 Numbers from IFRS Balance sheet: Loans and advances
to customers3 (Net interest income + Net result from services and
commissions +Income from securities+Net gain sor losses from
derivatives + Other revenues − Tax expenses) / Personal expense +
Other administrative expenses
Note on non-IFRS financial measures
In addition to IFRS financials, this presentation includes
certain summarized, non-audited or non-IFRS financial information.
These summarized, non-audited or non-IFRS financial measures are in
addition to, and not a substitute for or superior to, measures of
financial performance prepared in accordance with IFRS.
Inter&Co will discuss its 2Q22 financial on August 16, 2022,
at 10:00 am ET / 11:00 am BRT. The webcast details
are available at IR website: ri.bancointer.com.br/intereco.
About Inter&CoInter&Co is the holding
company of Inter Group and indirectly holds all of Banco Inter’s
shares. Inter is a digital bank that simplifies people’s lives,
where everything is integrated in a single app. Inter offers a
complete range of services in banking, investments, credit,
insurance and cross-border services, in addition to a marketplace
that brings together the best retailers in Brazil and the United
Domville / Fabiane GoldsteinM +1 646. 824.2856/ +1
945.625.4793 email@example.com / firstname.lastname@example.org
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