Inter&Co Delivers Record 3Q26 Net Income of US$76.1 Million, With Strong Growth, Higher Margin and Better Efficiency
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Inter&Co (NASDAQ: INTR) reported record third-quarter 2026 net income of US$76.1 million, marking its 14th consecutive quarter of growth. Net income rose 26% year-over-year, while net revenue increased 26% to US$483 million. The expanded credit portfolio grew 25% to US$10.39 billion, compared with 8.6% growth in the Brazilian credit market.
Net interest margin reached 9.96%, approximately 70 basis points above 3Q25. The efficiency ratio improved 322 basis points year-over-year to 41.9%, while expenses rose 17%. Cost of Risk remained flat versus 2Q26 at 5.9%, and 70% of the loan book was secured. Clients reached 46.8 million, including 27.1 million active clients; gross monthly revenue per active client reached a record US$10.7. Pix market share was 9%. Inter&Co expects further asset-quality improvement, especially in private payroll lending.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointNet income rose 26% year-over-year to US$76.1 million, its 14th consecutive quarterly increase.
- Moderate pointNet revenue increased 26% year-over-year to US$483 million in 3Q26.
- Moderate pointExpanded credit portfolio grew 25% year-over-year to US$10.39 billion, versus 8.6% Brazilian credit-market growth.
- Moderate pointNet interest margin reached 9.96%, approximately 70 basis points above 3Q25.
- Moderate pointEfficiency ratio improved 322 basis points year-over-year to 41.9%.
2 minor points
- Minor pointGross monthly revenue per active client reached a record US$10.7.
- Minor point. Forward-looking: it has not happened yet and may not happen.Inter&Co expects continued asset-quality improvement, especially in private payroll lending as the product gains operational maturity.
Negative
- Moderate pointExpenses increased 17% year-over-year in 3Q26.
- Minor pointLower inflation reduced inflation-linked asset income; IPCA was 2.3%, versus 5.8% in 2Q26.
Key Figures
- Net income
- US$76.1 million (R$425 million), up 26% year-over-year
- 3Q26; record result
- Net revenue
- US$483 million (R$2.7 billion), up 26% year-over-year
- 3Q26
- Expanded credit portfolio
- US$10.39 billion (R$58.1 billion), up 25% year-over-year
- 3Q26
- Cost of Risk
- 5.9%, flat versus 2Q26
- 3Q26
- Net interest margin
- 9.96%, approximately 70 bps above 3Q25
- 3Q26
- Efficiency ratio
- 41.9%, a 322 bps improvement year-over-year
- 3Q26
- Operating expenses
- Grew 17%
- 3Q26, compared with 26% net revenue growth
Historical Context
-
Q2 record results included US$81M net income, 32% revenue growth and 42% efficiency ratio.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
nim financial
ifrs financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
MIAMI, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Inter&Co Inc. (NASDAQ: INTR), the leading super app providing financial and digital commerce services to over 46 million customers, today reported its results for the third quarter of 2026.
3Q26 Highlights:
Inter delivered record net income in 3Q26, supported by a larger and more engaged client base and confirming the consistency of its model across cycles. Clients reached 46.8 million, of which 27.1 million are active; net revenue reached US
- Net Income: Net income reached US
$76.1 million (R$425 million ), up26% year-over-year, a new record and the 14th consecutive quarter of growth. - Credit Growth: The expanded credit portfolio reached US
$10.39 billion (R$58.1 billion ), up25% year-over-year, versus8.6% for the Brazilian credit market. - Asset Quality: Cost of Risk was stable at
5.9% , flat versus 2Q26. - Net Interest Margin: NIM reached
9.96% , approximately 70 bps above 3Q25, supported by the growth of a healthy, diversified and highly collateralized loan portfolio. - Efficiency Ratio: The efficiency ratio reached
41.9% , a 322 bps improvement year-over-year, as expenses grew17% against26% growth in net revenue.
João Vitor Menin, Global CEO of Inter&Co, commented:
“Our 3Q26 results reflect the strength of the model we have built over the last ten years. The strength of our banking, paired with top-class technology, feeds our customer flywheel, where every interaction feeds the next. The more a client's financial life sits with Inter, the more we learn, and the better we serve that client. After ten years and a few credit cycles, I can say with confidence that the BanTech model works.”
He added: “Our model stands on four pillars: a fortress balance sheet, with
He concluded: “We have also strengthened our leadership structure to accelerate growth and profitability: Francisco Santos, who recently joined Inter as Chief Growth Officer, will be focused on growth and monetization in Brazil; Alexandre Riccio, now our Chief Operating Officer, focused on credit underwriting and operational excellence; and Santiago Stel, who continues as CFO, focused on profitability and capital allocation. With robust capital, a strong brand and a talented team, we are well positioned to deliver continued growth and sustainable profitability in the years to come.”
Santiago Stel, CFO of Inter&Co, said: “This quarter shows growth, margin, and efficiency moving together. Net revenue grew
Stel continued: “We have seen the stabilization of asset quality. Cost of Risk was flat at
Conference Call
Inter&Co will discuss its 3Q26 financial results on November 13th, 2026, at 10:00 a.m. ET. The webcast details, along with the earnings materials, can be accessed on the company's Investor Relations website at https://investors.inter.co/en/.
About Inter&Co
Inter (NASDAQ: INTR) is a digital bank providing financial and lifestyle solutions to 46.8 million consumers. Our super app leverages technology to unlock simplicity, offering mortgages, credit, gift cards, investments, and international payments. Inter customers also enjoy access to a dynamic marketplace of shopping discounts, cashback rewards, and exclusive access to marquee events. Recognized by Forbes, CNBC, and others as one of the world’s leading FinTechs and digital banks, Inter leads with human innovation to empower the new economy. Learn more at US.Inter.Co.
Investor Relations:
Rafaela de Oliveira Vitória
ir@inter.co
Media Relations:
interco@chemistryagency.com / delayna.shulak@inter.co
Disclaimer
This report may contain forward-looking statements regarding Inter, anticipated synergies, growth plans, projected results and future strategies. While these forward-looking statements reflect our Management’s good faith beliefs, they involve known and unknown risks and uncertainties that could cause the company’s results or accrued results to differ materially from those anticipated and discussed herein. These statements are not guarantees of future performance. These risks and uncertainties include, but are not limited to, our ability to realize the number of projected synergies and the projected schedule, in addition to economic, competitive, governmental and technological factors affecting Inter, the markets, products and prices and other factors. In addition, this presentation contains managerial figures that may differ from those presented in our financial statements. The calculation methodology for these managerial numbers is presented in Inter’s quarterly earnings release. Statements contained in this report that are not facts or historical information may be forward looking statements under the terms of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may, among other things, beliefs related to the creation of value and any other statements regarding Inter. In some cases, terms such as “estimate”, “project”, “predict”, “plan”, “believe”, “can”, “expectation”, “anticipate”, “intend”, “aimed”, “potential”, “may”, “will/shall” and similar terms, or the negative of these expressions, may identify forward looking statements.
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, that may be made from time to time, whether because of new information, future developments or otherwise. The definition of each such operational metric is included in the earnings release available on our Investor Relations website.
For additional information that about factors that may lead to results that are different from our estimates, please refer to sections “Cautionary Statement Concerning Forward Looking Statements” and “Risk Factors” of Inter&Co Annual Report on Form 20-F. The numbers for our key metrics (Unit Economics), which include, among other, active clients and average revenue per active client (ARPAC), are calculated using Inter’s internal data. Although we believe these metrics are based on reasonable estimates, there are challenges inherent in measuring the use of our business. In addition, we continually seek to improve our estimates, which may change due to improvements or changes in methodology, in processes for calculating these metrics and, from time to time, we may discover inaccuracies and adjust to improve accuracy, including adjustments that may result in recalculating our historical metrics.
About Non-IFRS Financial Measures
To supplement the financial measures presented in this press release and related conference call, presentation, or webcast in accordance with IFRS, Inter&Co also presents non-IFRS measures of financial performance, as highlighted throughout the documents. The non-IFRS Financial Measures include, among others: Adjusted Net Income, Cost of Funding, Efficiency Ratio, Cost of Risk, Cards+PIX TPV, Gross ARPAC, Global Clients, Total Gross Revenues, and Return on average equity (ROE).
A “non-IFRS financial measure” refers to a numerical measure of Inter&Co’s historical or financial position that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with IFRS in Inter&Co’s financial statements. Inter&Co provides certain non-IFRS measures as additional information relating to its operating results as a complement to results provided in accordance with IFRS. The non-IFRS financial information presented herein should be considered together with, and not as a substitute for or superior to, the financial information presented in accordance with IFRS. There are significant limitations associated with the use of non-IFRS financial measures. Further, these measures may differ from the non-IFRS information, even where similarly titled, used by other companies and therefore should not be used to compare Inter&Co’s performance to that of other companies.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did Inter&Co earn in the third quarter of 2026?
Inter&Co reported record net income of US$76.1 million (R$425 million), up 26% year-over-year. This was its 14th consecutive quarter of net income growth. Net revenue reached US$483 million (R$2.7 billion), also up 26% year-over-year.
How did Inter&Co's credit quality and lending portfolio perform in 3Q26?
Inter&Co's Cost of Risk remained at 5.9%, flat versus 2Q26, while its expanded credit portfolio grew 25% year-over-year to US$10.39 billion. Seventy percent of its loan book was secured. The company expects continued asset-quality improvement, especially in private payroll lending.
Why did lower inflation affect Inter&Co's income in 3Q26?
Lower inflation reduced income from Inter&Co's inflation-linked assets. IPCA was 2.3%, compared with 5.8% in 2Q26. Despite that effect, net interest margin reached 9.96%, approximately 70 basis points above 3Q25.