Inter & Co (INTR) Q2 2025 earnings summary

Executive summary

• Achieved record net income of R$315 million (excluding minorities), up 53% year-over-year, with ROE rising to 13.9% from 9.8% in 2Q24, reflecting compounding profitability and operational leverage.

• Total clients reached 40 million in August 2025, with a 19% year-over-year increase and 1.1 million net new active clients added in the quarter, supporting engagement and growth.

• Gross revenue grew 48% year-over-year to R$3.6 billion, driven by fee diversification, investments, and global expansion.

• Launched new digital features for credit and savings, including MyCredit and MyPiggy Bank, enhancing client engagement and financial education, with over 425,000 clients using the new savings feature in under a month.

• Maintained strong brand presence, ranking as the 7th most powerful brand in Brazil and 1st among Gen Z.

Financial highlights

• Gross loan portfolio reached R$40 billion, up 22% year-over-year, with core credit portfolio up 31% YoY and strong growth in FGTS (+42% YoY) and Home Equity (+38% YoY).

• Gross revenues reached R$3.6 billion (up 48% YoY), net revenue R$2.0 billion (up 36% YoY), with quarterly growth of 13% and 9% respectively.

• Net income (excluding minorities) increased 53% YoY to R$315 million; net income including minorities: R$332 million.

• Funding reached R$62.2 billion, up 30% YoY, mainly driven by time deposits, with average deposit per active client at ~R$2,000.

• Total assets: R$84.7 billion (+27.3% YoY); total equity: R$9.4 billion (+9.1% YoY).

Outlook and guidance

• Loan portfolio expected to grow at the high end of the 25%-30% range for the year, driven by new products like private payroll and strong performance in mortgages and home equity.

• Confident in achieving strategic objectives: 60 million clients, 30% efficiency ratio, and 30% ROE by 2027, with current internal projections aligned with analyst estimates.

• Focus remains on sustainable credit growth, fee diversification, and operational efficiency to drive future profitability.

• Continued investment in digital features and global expansion to enhance client engagement and market share.

• Expect continued growth in credit products and further digital innovation.