Core Insights - Inter & Co. Inc. reported significant growth in client acquisition, engagement, and profitability, positioning itself as the fastest-growing financial institution in Brazil with over 25 million active clients [3][4][7] Transaction Volumes and Market Share - Total payment volume (TPV) for the fourth quarter grew 27% to a BRL 1.8 trillion run rate, with Pix transactions totaling around BRL 1.5 trillion for the year and a market share of 8.5% [1] - The company processed 32,000 financial transactions per minute, totaling almost 1 billion transactions in December [2] Client Growth and Engagement - Inter added 7 million new clients in the year, achieving its best annual performance ever, with 4.4 million becoming active, resulting in a 58% activation rate [3][7] - Daily logins exceeded 21.5 million in December, up from 17 million the previous year [2] Financial Performance - Net revenues reached BRL 8.4 billion, a 31% year-over-year increase, with net income of BRL 1.3 billion and a return on equity (ROE) above 15% in Q4 [5][17] - The loan book grew 36% year-over-year, with mortgages increasing by 48%, home equity loans by 35%, and credit cards by 29% [6][8] Asset Quality and Risk Management - The 15- to 90-day non-performing loan (NPL) ratio improved to 4.0%, while the 90-day past due metric rose to 4.7% [9][10] - Coverage ratio increased to 146%, with a cost of risk expected to be between 5.5% and 6% in 2026 [10][21] Funding and Deposits - Deposits grew 32% year-over-year to nearly BRL 73 billion, with time deposits driving much of the growth [11] - The cost of funding improved to 65.6% of CDI from 68.2% in the prior quarter [12] Revenue and Profitability Metrics - Total gross revenues for 2025 are projected at BRL 15 billion, up 45% year-over-year, with net interest income rising 41% [13] - Net fee revenues increased by 9%, with a fee income ratio finishing at 25% [14] Operational Efficiency - Administrative expenses rose 19% year-over-year, attributed to higher transaction volumes, while the efficiency ratio improved to 45.5% from 48.4% [16] - The company aims to maintain a 20% dividend payout ratio moving forward [19] International Expansion - Inter received approval for a U.S. branch license, allowing it to expand its offerings in the U.S. market [23]

Core Insights - The company Inter & Co (NASDAQ:INTR) is highlighted for having excellent and improving fundamentals [1] - A comparison is made between Inter & Co and Nu Holdings, indicating a competitive analysis within the sector [1] - The video also mentions recent news regarding CoreWeave, suggesting potential developments in the industry [1]

Financial Data and Key Metrics Changes - The company reported total gross revenues of BRL 15 billion, marking a 45% year-on-year growth, while net revenues grew 31% year-on-year to reach BRL 8.4 billion [13] - The net interest income increased by 41% year-on-year, driven by strong performance in payroll loans, credit cards, mortgages, and home equity loans [13] - The company achieved a net income of BRL 1.3 billion, surpassing a 15% return on equity (ROE) in the last quarter [18] Business Line Data and Key Metrics Changes - The loan portfolio grew by 36% year-on-year, with mortgages increasing by 48% and home equity loans by 35% [9] - The private payroll loans portfolio reached nearly BRL 2 billion, with around 400,000-500,000 clients, showcasing the strength of digital distribution [6] - Credit card volume grew by 29%, with a focus on reshaping the client base from pure transactors to more engaged users [6][9] Market Data and Key Metrics Changes - The company processed 32,000 financial transactions per minute, totaling almost 1 billion transactions in December, reflecting high client engagement [3] - The transaction volume through Pix reached around BRL 1.5 trillion for the year, leading to a market share of 8.5% [5] - The funding franchise grew by 32% year-on-year, reaching nearly BRL 73 billion, driven primarily by time deposits [11] Company Strategy and Development Direction - The company aims to replicate the success of Pix in other products, with home equity already ahead of Pix in market share [7] - The strategy focuses on continuous innovation across seven verticals, enhancing client value and profitability [8] - The management emphasizes the importance of technology and AI to improve efficiency and operational leverage [24][68] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in achieving growth targets for 2026, with expectations of continued loan growth and efficiency improvements [22][68] - The company anticipates a cost of risk between 5.5% and 6% for 2026, with a focus on maintaining asset quality [51] - The management highlighted the resilience of their funding strategy, even in a high-interest-rate environment [12] Other Important Information - The company maintained a healthy funding mix, with a cost of funding at 65.6% of CDI, an improvement from the previous quarter [12] - The efficiency ratio improved from 48.4% to 45.5%, reflecting operational leverage and cost optimization efforts [17] Q&A Session Questions and Answers Question: Concerns about efficiency ratio progress - The management acknowledged the slower progress in efficiency and emphasized ongoing efforts in technology and innovation to improve this metric [21][24] Question: Future dividend payments strategy - The company plans to maintain a 20% payout ratio for dividends, as long as it does not impact growth execution [25][26] Question: Fee income growth expectations - The management noted that fee income growth was impacted by increased expenses but expects initiatives to reengage clients to drive future growth [32][36] Question: Provisioning and asset quality concerns - The management confirmed that asset quality is performing as planned and that the increase in Stage Three formation was anticipated due to the maturation of certain products [47][49] Question: Competitive advantage in private payroll loans - The management highlighted their strong client base, low funding costs, and the non-cannibalization of other revenues as key competitive advantages in the private payroll segment [74][76]

Financial Data and Key Metrics Changes - The company reported total gross revenues of BRL 15 billion, reflecting a 45% year-on-year growth, while net revenues grew 31% year-on-year to BRL 8.4 billion [13] - Net interest income increased by 41% year-on-year, driven by strong performance in payroll loans, credit cards, mortgages, and home equity loans [13] - The efficiency ratio improved from 48.4% to 45.5%, indicating better operational leverage [17] Business Line Data and Key Metrics Changes - The loan portfolio grew by 36% year-on-year, with mortgages increasing by 48% and home equity loans by 35% [9] - The private payroll loans portfolio reached nearly BRL 2 billion, with around 400,000-500,000 clients, showcasing rapid product scaling [6] - Credit card volume grew by 29%, with interest-earning products now representing over 23% of the credit card portfolio, up from 19% last year [6][9] Market Data and Key Metrics Changes - The company processed 32,000 financial transactions per minute, totaling almost 1 billion transactions in December, with a significant increase in daily logins to over 21.5 million [3][4] - The transaction mix is evolving, with credit card transactions outpacing debit card transactions, positively impacting interchange fee income [5] - The company achieved a Pix market share of 8.5%, with ongoing efforts to replicate this success in other products [7] Company Strategy and Development Direction - The company is focused on continuous innovation across its seven verticals, which are interconnected to enhance client value and profitability [8] - The management emphasized the importance of technology and AI in improving efficiency and reducing costs, with plans for hyper-personalization and enhanced customer experience [70] - The company aims to maintain a balanced ratio of secured and unsecured loans while deepening credit penetration [9] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in achieving further growth in 2026, with expectations of continued loan growth and NIM expansion [19][66] - The company anticipates a cost of risk between 5.5% and 6% for 2026, with a focus on maximizing risk-adjusted NIM [50][66] - Management acknowledged the competitive landscape but highlighted their advantages in client base, funding costs, and digital distribution channels [73] Other Important Information - The company maintained a strong NPS of 85 points, indicating high customer satisfaction [4] - The average balance per active client reached BRL 2,100, with total funding growing by 32% year-on-year [11] - The company is preparing for an Investor Day on May 11th, where further insights into future strategies will be shared [20] Q&A Session Summary Question: Concerns about efficiency ratio progress - Management acknowledged the slower progress in efficiency but highlighted significant improvements in ROE and client growth, reaffirming commitment to the 60/30/30 plan [21][22] Question: Future dividend payments strategy - The company plans to maintain a 20% payout ratio for dividends, balancing growth and capital needs [25][27] Question: Fee income growth expectations - Management noted that fee income growth was impacted by accounting changes and competitive pressures but expects initiatives to drive future growth [31][36] Question: Provisioning and asset quality concerns - Management clarified that asset quality metrics are performing as expected, with adjustments made for more conservative risk assessments [46][49] Question: Private payroll loan growth and competition - The company is optimistic about the private payroll loan segment, leveraging its distribution channels and competitive advantages to sustain growth [58][73]

Financial Data and Key Metrics Changes - The company reported total gross revenues of BRL 15 billion, marking a 45% year-on-year growth, while net revenues grew 31% year-on-year to BRL 8.4 billion [12] - Net interest income increased by 41% year-on-year, driven by strong performance in payroll loans, credit cards, mortgages, and home equity loans [12] - The efficiency ratio improved from 48.4% to 45.5%, representing a nearly 300 basis points improvement within the year [16] Business Line Data and Key Metrics Changes - The loan portfolio grew by 36% year-on-year, with quarterly growth accelerating to 10% or 40% on an annualized basis [8] - Private payroll loans reached a portfolio of nearly BRL 2 billion with around 400,000-500,000 clients, showing strong digital distribution capabilities [5] - Credit card volume grew by 29%, with the reshaping strategy driving monetization and profitability [8] Market Data and Key Metrics Changes - The company was the fastest-growing financial institution in Brazil among those with over 20 million clients, with 7 million new clients welcomed in the year [2][3] - The transaction volume through Pix reached BRL 1.5 trillion for the year, leading to a market share of 8.5% [4] - The average balance per active client reached 2.1 thousand reais, with total funding growing 32% year-on-year [10] Company Strategy and Development Direction - The company aims to replicate Pix's success in other products, with home equity already ahead of Pix in market share [6] - The focus remains on continuous innovation and enhancing the client experience through a seamless integration of its seven verticals [7] - The company is committed to maintaining a balanced ratio of secured and unsecured loans while pursuing growth in its credit portfolio [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that 2026 will be another excellent year for the company, highlighting the strength of its platform and operational strategies [18] - The company anticipates a cost of risk between 5.5% and 6% for 2026, with expectations of asset quality pressure in the industry [49] - Management emphasized the importance of technology and innovation in improving efficiency and operational leverage [68] Other Important Information - The company achieved a net income of BRL 1.3 billion, surpassing a 15% ROE in the last quarter [17] - The cost of funding improved to 65.6% of CDI, showcasing the strength of the company's funding strategy [11] - The company plans to maintain a 20% payout ratio for dividends, balancing growth and capital needs [26] Q&A Session Summary Question: Concerns about efficiency ratio progress - Management acknowledged the slow progress in efficiency but highlighted significant improvements in ROE and client growth, reaffirming commitment to the 60/30/30 plan [20][22] Question: Future dividend payments - Management confirmed a 20% payout ratio for dividends will continue as long as it does not impact growth execution [25][26] Question: Fee income growth expectations - Management noted that fee income growth was impacted by a strong increase in net interest income, leading to a compression in the fee income ratio [30][31] Question: Provisioning and asset quality concerns - Management explained that the asset quality metrics are performing as planned, with specific adjustments made to the mortgage portfolio to align with best practices [45][48] Question: Growth expectations for private payroll loans - Management indicated strong growth in private payroll loans, with expectations for continued growth as the product matures and market share increases [56][57]

Earnings Presentation February 2026 4Q2025 Earnings Presentation | 4Q25 1 Earnings Presentation | 4Q25 Earnings Presentation | 4Q25 Agenda João Vitor Menin | Global CEO Alexandre Riccio | Brazil CEO 1. CEO Overview 2. Business Update 3. Financial Performance Santiago Stel | SVP CFO 2 Earnings Presentation | 4Q25 Disclaimer This report may contain forward-looking statements regarding Inter, anticipated synergies, growth plans, projected results and future strategies. While these forward-looking statements re ...

Core Insights - Inter&Co Inc. reported strong financial results for Q4 2025, highlighting exceptional growth and consistent profitability while expanding its market presence [1][2]. Financial Performance - The company achieved a net income of R$1.3 billion (approximately US$250 million), reflecting a 45% year-over-year growth [7]. - Annualized Return on Equity (ROE) surpassed 15%, indicating disciplined execution and a focus on sustainable profitability [7]. - Net Interest Margins (NIMs) reached a record 9.6%, up from 8.7% in Q4 2024, showcasing the effectiveness of the capital allocation strategy [7]. Client Growth and Engagement - Inter&Co added a record-breaking 4.4 million new active clients in 2025, bringing the total to 25 million [7]. - The company noted increased client engagement with higher transaction volumes and record levels of Average Revenue Per Active Client (ARPAC) [3]. Credit Portfolio Expansion - The credit portfolio expanded by 36% year-over-year, significantly outpacing the Brazilian market growth rate, driven by strategic products such as Private Payroll Loans, Mortgages, and Credit Cards [7]. Strategic Focus - The company continues to deploy capital in a disciplined manner, aiming to deepen credit penetration and extract incremental value from its balance sheet [4].

Core Viewpoint - Intrepid Metals Corp. has announced a non-brokered private placement to raise up to C$6.5 million, with Teck Resources Limited participating by subscribing for approximately C$4.1 million worth of shares, reflecting confidence in the Corral Copper Project's potential [1][2][3]. Financing Details - The Offering will consist of common shares priced at C$0.60 each, with Teck acquiring 6,842,881 shares, which will increase its ownership to approximately 15% of the total shares on a non-diluted basis upon closing [1][7]. - The proceeds will fund a 30-month exploration and development program at the Corral Copper Project, including various geological and drilling activities [3][10]. Strategic Partnership - Teck's increased investment is seen as a strong endorsement of the Corral Copper Project's quality and potential, indicating a strategic alignment between Intrepid and Teck [2][3]. - An amendment to the existing investor rights agreement will allow Teck to increase its maximum ownership from 15% to 19.9% and extend timelines for the committed program [4]. Project Overview - The Corral Copper Property is located in Cochise County, Arizona, near historical mining areas, and is considered an advanced exploration opportunity [10][11]. - Historical drilling data and modern exploration techniques are being utilized to enhance the project's development potential [12][13]. Management Update - Intrepid Metals Corp. has announced the resignation of Mr. Matt Lennox-King from its Board of Directors, thanking him for his contributions [9].

Core Viewpoint - Inter & Co, Inc. (NASDAQ:INTR) is winding down its Sponsored Level II Brazilian Depositary Receipts (BDR) program and transitioning to an Unsponsored Level I BDR structure, pending regulatory approvals [1][3] Group 1: Company Actions - The company plans to cancel its registration with the CVM as a category A foreign securities issuer to simplify its regulatory setup and eliminate duplicative requirements [3] - After the discontinuation of the Sponsored Level II BDR program, holders will have a 30-day period to choose between receiving Nasdaq-listed Class A shares, selling the underlying shares, or converting to Unsponsored Level I BDR on a one-for-one basis [4] Group 2: Analyst Sentiment - Prior to the announcement, UBS raised its price target on Inter & Co, Inc. from $10.5 to $11, indicating a potential upside of 14.46% from current levels while reaffirming a Buy rating [5] Group 3: Company Overview - Inter & Co, Inc. operates in insurance brokerage, banking, investments, and inter shop businesses in the U.S. and Brazil, providing various banking products and services [6]

Core Insights - The discussion focuses on Inter's branding strategy and how it differentiates itself in the market while transforming marketing into sustainable growth [2]. Group 1: Company Background - Andrea Nocciolini has 25 years of experience in sales and marketing, having worked in various roles including managing iconic brands in Brazil [5]. - Nocciolini's career includes a significant tenure at a communication agency, where he managed major brands and developed strategic priorities for clients [6]. Group 2: Marketing Strategy - The conversation aims to explore how Inter's branding strategy contributes to its sustainable growth and market differentiation [2].