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Group 1 - Inter&Co Inc. announces the acquisition of the remaining 50% of Granito, a merchant acquirer serving over 100,000 SMEs in Brazil, for $110 million BRL [1][3] - This acquisition is expected to enhance Inter's portfolio, generate operational synergies, and create cross-selling opportunities within its financial super app [1][2] - The transaction aims to strengthen Inter's position as a preferred partner for entrepreneurs in Brazil, reinforcing its value proposition as a comprehensive digital platform [2][3] Group 2 - The acquisition will rename Granito to Inter Pag and is part of Inter's strategy to disrupt the financial services industry by providing a full suite of solutions for business owners [3] - The completion of the transaction is subject to approval by the Central Bank of Brazil and other regulatory conditions [4] - Inter&Co serves over 32 million customers across the Americas, offering a wide range of financial services and a dynamic marketplace [5]

. ● . Intrepid Metals Completes Initial Drill Program at Its Corral Copper Property in Arizona May 28, 2024 7:00 AM EDT | Source: Intrepid Metals Corp. Vancouver, British Columbia--(Newsfile Corp. - May 28, 2024) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce its initial drill program on the Company's Corral Copper Property ("Corral" or the "Property") in Cochise County, Arizona has been completed on time and on budget. A total of 25 holes were drill ...

About Inter&Co Inter&Co (NASDAQ:INTR), the company that controls Banco Inter in Brazil and the subsidiary Inter&Co Payments, is the pioneer financial super app serving over 32 million customers across the Americas. The Inter&Co ecosystem offers a broad array of services, including banking, investments, mortgages, credit, insurance, and cross-border payments. The financial super app also boasts a dynamic marketplace, linking consumers with shopping discounts, cashback rewards, and exclusive access to marquee ...

BELO HORIZONTE, Brazil, May 20, 2024 (GLOBE NEWSWIRE) -- Inter&Co (NASDAQ: INTR), the financial super app serving over 32 million customers across the Americas, announced today that S&P Global Ratings (S&P) has upgraded Banco Inter outlook to "Stable" and reaffirmed its "brAA+" local rating. In the report S&P stated that: "The stable outlook reflects our view that Inter&Co will continue to improve its profitability, providing greater stability to the business." About Inter&Co Inter&Co (NASDAQ: INTR), the co ...

winter&co EARNINGS PRESENTATION | 1Q24 These forward-looking statements are based on Inter's expectations and beliefs about future events and involve risks and uncertainties that could cause actual results to differ materially from current ones. Any forward-looking statement made by us in this document is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, ...

BELO HORIZONTE, Brazil, May 09, 2024 (GLOBE NEWSWIRE) -- Inter&Co Inc. (NASDAQ:INTR, B3: INBR32))), the premier financial super app that provides financial and digital commerce services to over 31 million customers, today reported financial results for the first quarter of 2024. Highlights: Record net income of R$195 million. A 37% YoY increase in net revenue.Transactional Volume (TPV) increased to R$257 billion.A 5th consecutive quarter of increased account activations, reaching 54.9%. Inter&Co reported s ...

Financial Performance - Gross Loan Portfolio increased to R$31,020,837 thousand in 2023, up from R$24,543,993 thousand in 2022, representing a growth of 26.5%[25] - SG&A expenses totaled R$2,412,527 thousand in 2023, slightly up from R$2,392,061 thousand in 2022, indicating a marginal increase of 0.8%[26] - Efficiency Ratio improved to 54.5% in 2023 from 72.2% in 2022, reflecting enhanced operational efficiency[28] - Return On Average Equity (ROAE) was 4.8% in 2023, a significant recovery from a loss of (0.2)% in 2022[29] - Net Fee Revenue rose to R$1,544,488 thousand in 2023, up from R$1,227,268 thousand in 2022, marking an increase of 26%[33] - Total Gross Revenue reached R$8,079,000 thousand in 2023, compared to R$5,986,000 thousand in 2022, reflecting a growth of 35%[40] Risk Management - Cost of Risk increased to 5.5% in 2023 from 5.2% in 2022, indicating a rise in credit risk[31] - Liquidity risk management structure is designed to monitor and prevent breaches of liquidity ratio limits[744] - Market risk includes potential losses from fluctuations in stock prices, interest rates, exchange rates, and commodity prices[745] - Operational risk arises from failures in internal processes, people, systems, or external events, with processes in place to mitigate these risks[746] Funding and Costs - Funding increased to R$43,513,032 thousand in 2023 from R$32,516,818 thousand in 2022, a growth of 33.7%[36] - Cost of Funding rose to 7.6% in 2023 from 7.1% in 2022, indicating higher interest expenses relative to funding[38] Interest Income and Portfolio Growth - As of December 31, 2023, the net interest income and income from securities and derivatives increased to R$3,208,088 thousand, up from R$2,335,429 thousand in 2022, representing a growth of approximately 37.3%[46] - The net interest margin (NIM) improved to 7.4% in 2023, compared to 6.7% in 2022, indicating enhanced efficiency in generating interest income[46] - The average interest-earning portfolio rose to R$43,289,368 thousand in 2023, up from R$34,759,632 thousand in 2022, reflecting a growth of about 24.5%[46] - The NIM excluding the credit card transactor portfolio increased to 8.7% in 2023 from 7.8% in 2022, highlighting the company's ability to generate interest income from its asset portfolio[50] Loan and Securities Growth - The total loans and advances to customers, net of provisions for expected loss, reached R$27,900,543 thousand in 2023, compared to R$21,379,916 thousand in 2022, marking an increase of approximately 30.5%[43] - The amount due from financial institutions, net of provisions for expected loss, decreased to R$3,718,506 thousand in 2023 from R$4,258,856 thousand in 2022, a decline of about 12.7%[43] - The securities held by the company increased significantly to R$16,868,112 thousand in 2023, up from R$12,448,565 thousand in 2022, representing a growth of approximately 35.5%[43] - The credit card transactor portfolio also grew, reaching R$7,490,011 thousand in 2023, compared to R$5,411,798 thousand in 2022, an increase of about 38.5%[50] Strategic Initiatives - The company continues to focus on expanding its market presence, particularly through the acquisition of Inter&Co Payments in the United States, aiming to integrate operations and enhance growth opportunities[58] - The company emphasizes the importance of client acquisition cost (CAC) as a metric to monitor the efficiency of its growth strategies, reflecting its commitment to optimizing operational expenses[55]

akinbostanci/iStock via Getty Images Investment Thesis I recommend buying Inter & Co (NASDAQ:NASDAQ:INTR) shares. Inter & Co was one of the first digital banks to carry out an IPO in the West and simply quadrupled the number of customers between 2018 and 2020, reaching more than 8 million. At that time, Inter & Co had a P/B multiple of 6x, and the strategy of all fintechs in the world was to grow without worrying about profitability. However, Brazil and the world went through a major cycle of rising int ...

Customer Base and Growth - As of December 31, 2023, the total customer base reached 30.4 million, with an activation rate increase of 300 basis points to 54.0% compared to December 31, 2022[6]. - The loan portfolio balance reached R$29.8 billion, reflecting a 31% increase compared to December 31, 2022[7]. - Total funding amounted to R$40.7 billion, representing a 36.5% increase compared to December 31, 2022[8]. - Total assets grew to R$60.4 billion, marking a 30.2% increase compared to December 2022[12]. - Total assets increased to R$60,351,797 in 2023, up from R$46,343,100 in 2022, representing a growth of 30.2%[33]. - The company reported net cash from operating activities of R$7,545,050 in 2023, significantly higher than R$2,103,405 in 2022[39]. Financial Performance - The accumulated profit for the period was R$352.3 million, a significant turnaround from a loss of R$14.1 million in the same period of 2022[9]. - Revenues reached R$7,775.7 million, an increase of R$2,111.0 million compared to the same period in 2022[10]. - Profit for the year reached R$352,260 in 2023, a significant recovery from a loss of R$14,079 in 2022[37]. - Basic earnings per share improved to R$0.75 in 2023, compared to a loss of R$0.03 in 2022[35]. - Other comprehensive income for the year was R$149,813 in 2023, compared to a loss of R$753,017 in 2022, indicating a positive turnaround[37]. - Total revenues for the year ended December 31, 2023, reached $4,752,576, an increase from $3,562,697 in 2022, representing a growth of approximately 33.4%[190]. - Interest income for the year was $4,549,827, significantly higher than $2,802,658 in 2022, representing an increase of approximately 62.2%[190]. Expenses and Liabilities - Administrative and personnel expenses totaled R$1,461.3 million, a decrease of R$33.1 million compared to the same period in 2022[11]. - Total liabilities rose to R$52,755,107 in 2023, compared to R$39,253,996 in 2022, an increase of 34.5%[33]. - The company reported impairment losses on financial assets of $1,541,584 for 2023, compared to $1,083,237 in 2022, indicating an increase in credit risk exposure[190]. - Administrative expenses for the year were $1,461,348, up from $1,494,484 in the previous year, showing a decrease of approximately 2.2%[190]. Shareholder Equity - Shareholder's equity totaled R$7.6 billion, reflecting a 7.2% growth compared to December 31, 2022[13]. - The company maintained a total equity of $7,596,691 as of December 31, 2023, compared to $7,089,104 in 2022, reflecting an increase of about 7.1%[190]. Acquisitions and Corporate Strategy - The company completed the acquisition of Inter&Co Payments, Inc. in January 2022 to enhance its global expansion strategy[45]. - Inter acquired 100% of the share capital of Inter US Finance, LLC and Inter US Management, LLC for a total consideration of R$3,317 thousand, with R$1,990 thousand for Inter US Finance and R$1,327 thousand for Inter US Management[70][72]. - The acquisition allows Inter to expand its operations in Florida, Georgia, and Colorado, enhancing its mortgage origination and distribution capabilities[71]. - The acquisition is expected to provide future economic benefits through synergies and a broader range of financial services for customers[73]. Risk Management and Compliance - The company has implemented significant internal controls related to credit loss measurement, which is a key audit matter due to its complexity and material measurement uncertainties[26]. - Inter & Co's financial statements are prepared in accordance with International Financial Reporting Standards (IFRS), ensuring compliance and transparency[48]. - The company continues to refine its internal risk management processes without any material changes to the nature of credit risk exposures in 2023[198]. Revenue Recognition - The Group recognizes revenue from interchange fees as commission income from card transactions, with the transaction price being a predefined percentage of the total payment[166]. - Management fees from asset management activities are recognized as the service is performed, while performance fees are recognized at the end of each performance period[167]. - Income from bank fees, primarily related to account opening and interbank transfer fees, is recognized when the services are provided[168]. - The Group does not have any single customer accounting for more than 10% of its total net revenue[183].