The following is a summary of the Inter & Co, Inc. (INTR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• The company had a robust growth in revenue, driven by increased client monetization across savings and credit platforms.

• The company's efficiency ratio improved significantly by 370 basis points to 47.7%.

• A record Return on Equity (ROE) of 9.7% was reported, marking the company's highest-ever net income of BRL195 million, along with a pre-tax profit of BRL274 million.

• Stable portfolio size in payroll loans sector was maintained around BRL 5 billion with implied rates growth up by 80 bps, attributed to disciplined pricing and profitability focus.

Business Progress:

• The company saw an increase in client numbers to 32 million.

• The integration of a new rewards program, Loop, is in progress to amplify client engagement.

• The company is set to continue its growth in client numbers, loans, deposits, and top-line revenue for the remaining part of 2024.

• The company's seventh vertical, loyalty, has achieved 6.6 million active clients, boosted by Loop, thus improving client spending, engagement, and activation.

• There's a continuous expansion of new credit lines with consistent growth observed in various financing sectors.

• The company is set to host Tech Day to delve into its key competitive advantage, its technology platform.

• The goal is to evolve origination from mostly omni-channel to a hybrid of digital and omni-channel for portfolio growth throughout 2024 and gain market share from the traditional payroll sector.

More details: Inter & Co IR

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