Financial Data and Key Metrics Changes - The company achieved a record net income of BRL 336 million, marking a significant milestone in its journey [23] - Net revenue reached BRL 2.1 billion, up 29% year-on-year and 8% sequentially, driven by growth in the credit book [19][20] - The return on equity (ROE) reached 14.2%, reflecting strong profitability while investing in innovation and operational excellence [23] Business Line Data and Key Metrics Changes - The loan portfolio grew 30% year-on-year, with quarterly growth accelerating to 9% [15] - Active clients transacted over BRL 412 billion, a year-over-year growth of around 30% [10] - Credit card volume surpassed BRL 15 billion for the first time, representing a 20% growth on a yearly basis [10] Market Data and Key Metrics Changes - The company is the second-largest underwriter of home equity in Brazil, achieving an 8.9% market share in portfolio balance [12] - The FX transaction market share reached 8.4%, indicating strong engagement in the global account [12] - The overall market for private payroll loans grew 22%, while the company achieved a growth of 38% [16] Company Strategy and Development Direction - The company focuses on innovation, leveraging AI and hyper-personalization to enhance its app and client experience [6] - The strategy includes driving global expansion and enhancing the global account with new products [6] - The company aims to maintain a balanced ratio of secured to unsecured loans, with two-thirds of the portfolio being secured [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow despite a challenging SELIC environment, highlighting strong trends in private payroll loans [30] - The focus remains on sustainable credit and client-centric solutions, aligning with regulatory trends in Brazil [24] - Management anticipates that the upcoming centralized invoice discounting clearing house will accelerate growth in the SME segment [15] Other Important Information - The company has 380 AI initiatives live, a significant increase from 80 during the previous year [6] - The Net Promoter Score remains high at 85 points, indicating strong client satisfaction [8] - The efficiency ratio improved from 47.1% to 45.2%, showcasing operational leverage [22] Q&A Session Summary Question: What is needed to achieve the 30% ROE target in the next two years? - Management highlighted the importance of continued growth in the credit portfolio and the positive trends in private payroll loans, while acknowledging the tough SELIC environment as a headwind [26][30] Question: Is the higher cost of risk a new normal? - Management explained that the cost of risk is expected to stabilize around the current level as the portfolio matures, with a focus on maximizing risk-adjusted NIM [36][39] Question: What drives confidence in maintaining loan book growth amid economic deceleration? - Management emphasized the company's strong client base, digital experience, and the potential for market-based solutions in mortgages and payroll loans [51] Question: What actions led to improved credit card portfolio performance? - Management noted the successful reshaping of the credit card portfolio and improvements in underwriting and collections, leading to a healthier ROE for the product [58][62] Question: What is the outlook for fee income growth? - Management indicated that despite recent one-offs affecting fee growth, they expect net fees to grow in the 20% range going forward, driven by credit card and e-commerce platform performance [81]