Inter&Co, Inc Reports Fourth Quarter and Full Year 2022 Financial Results
14 March 2023 - 10:51AM
Inter&Co, Inc (NASDAQ: INTR | B3:INBR32), the holding
company of Inter Group, which offers the premier Super App
providing financial and digital commerce services to more than 25
million customers, today reported financial results for its fourth
quarter ended December 31, 2022 and full year 2022. The full
earnings release has been made available on the Company’s Investor
Relations website at ri.bancointer.com.br.
João Vitor Menin, CEO of Inter&Co.
stated:
“2022 was an incredible year for us at
Inter&Co., with several accomplishments that have propelled us
forward and positioned us for greater success, including reaching a
record-breaking 8.3 million net new clients, taking our total to 25
million clients.
We are excited to build on the momentum of the
past year and continue to execute on our strategy to leverage on
the advantages we have created in our world-class Super App to
build our client base and funding, grow engagement and
monetization.
In addition, we will continue to reprice our
credit portfolio, ensuring an efficient use of our regulatory
capital. We are also working thoroughly to optimize our credit
models, minimize risk and streamline capital consumption.
Overall, we're confident that our key focus
areas will position us for continued success in 2023 and beyond.
We're grateful for the trust our clients have placed in us and will
continue to dedicate ourselves to providing excellent service and
creating value for all our stakeholders.”
2022 Highlights:
- Client Growth: We
added 8.3 million net new clients during the year, reaching a total
of 25 million.
- Penetration:
Two-thirds of our clients have three or more of our products.
- Innovation: We
launched several new products in 2022, including Dr. Inter, Global
Account and e-commerce for companies.
- Volumes: We
delivered strong transaction volume growth of 85% YoY, reaching
R$578 billion.
- Gross Loan
Portfolio: Our portfolio grew to R$25 billion, increasing
40% YoY. We continue our relentless focus on improving our credit
models.
- Funding: We
continued to grow deposits significantly, reaching R$ 30 billion,
or a 37% YoY increase.
- Net Fees: Net Fee
revenues grew 87% YoY, reaching R$1.2 billion.
- Total Gross
Revenues: We delivered another strong year reaching R$ 6
billion, up 90% YoY. Our revenues continue to be highly
diversified, with fees comprising 34% of net revenues.
- Net Income:
Reached net income of R$ 29 million in 4Q2022.
Conference
CallInter&Co will discuss its 4Q22 and Full Year
2022 financial results on March
14th, 2023 at 10:00 am ET (11:00 am Brazilian Time).
The webcast details are available on the Company’s
Investor Relations website at ri.bancointer.com.br.
About
Inter&CoInter&Co is the holding company of Inter
Group and indirectly holds all of Banco Inter’s shares.Inter is the
premier SuperApp providing financial and digital commerce services
to more than 25 million customers. We offer a complete range of
solutions, including banking, investments, credit, insurance and
cross-border services, in addition to a marketplace that brings
together the best retailers in Brazil and the United
States.
Contacts:GraylingLucia Domville /
Masha Toulokhonova
M +1 646. 824.2856/ +1
650.690.5952 lucia.domville@grayling.com / masha.toulokhonova@grayling.com
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