Inter & Co Stock Price, News & Analysis

Inter&Co, Inc. (NASDAQ: INTR) reported strong financial results for Q4 2022 and the full year 2022. The company grew its client base by 8.3 million net new clients, totaling 25 million clients. Key highlights include an 85% year-over-year transaction volume growth, reaching R$578 billion, and a 40% increase in the gross loan portfolio to R$25 billion. Additionally, net fee revenues soared by 87%, totaling R$1.2 billion. Total gross revenues climbed 90% to R$6 billion. The company confidently aims to leverage its Super App advantages to drive future growth.

Inter&Co (Nasdaq: INTR) announces no exposure or business ties with the recently troubled Silicon Valley Bank. This assurance comes amid rising market concerns over the stability of financial institutions.

As the holding company for Banco Inter, Inter&Co serves over 25 million customers in Brazil and the US, offering banking, investment, insurance, and credit services, in addition to a digital marketplace.

Inter&Co has expanded its Board of Directors, appointing Antonio Kandir, Todd Chapman, and Lorival Luz as new interim directors, bringing the total members to ten. This decision follows a strategic plan aimed at growth and profitability, with appointments subject to shareholder approval in April. Kandir, a former Minister, brings significant economic expertise; Chapman, a former U.S. diplomat, will support international expansion; and Luz, former CEO of BRF, has extensive finance experience. The company thanks retiring directors Thiago Piau and Carlos Medeiros for their contributions.

Inter&Co (NASDAQ: INTR | B3: INBR32) has acquired 100% of YellowFi Mortgage LLC and YellowFi Management LLC, expanding its offerings in real estate investing for clients in the US and Brazil. The acquisition aims to enhance Inter's financial services to over 25 million clients, with YellowFi’s fund managing residential mortgage loans since 2018. Cassio Segura, formerly of Banco do Brasil Americas, joins Inter's executive team to drive this initiative. This strategic move reflects Inter's commitment to inorganic growth, adding complementary, capital-light capabilities to its ecosystem.

Inter&Co (Nasdaq: INTR) announced that StoneCo has sold 16,829,094 shares, representing 4.20% of Inter&Co's total shares. This marks the complete divestment of StoneCo's remaining stake in the company. The share sale, executed in the open market, is anticipated to enhance liquidity for Inter&Co shares. The company operates as a premier Super App in the Americas, delivering a broad range of financial and digital commerce services to over 25 million customers across Brazil and the US.

Inter&Co has laid out its ambitious "60-30-30" growth plan to significantly enhance its market position by 2027. The plan aims to expand its client base from 24 million to 60 million, maintain a 30% efficiency ratio, and achieve a return on equity (ROE) of 30%. Inter targets a long-term net income of over R$5 billion, supported by a projected loan book of R$100 billion. This initiative builds on the company's digital commerce capabilities and aims to sustain its growth in the financial services sector across Brazil and the U.S.

Inter&Co, a leading Super App providing financial and digital commerce services, will host its Investor Day on January 18, 2023, from 7:00 AM ET to 11:00 AM ET. Investors can register via their Investor Relations website. The event will cover Inter's strategy, financial performance, and global expansion, including the recent acquisition of USEND. Inter reported an impressive 47% growth in its Loan Portfolio and R$1.5 billion in Gross Revenue, up 85% year over year.