Inter & Co (INTR) Q3 2025 earnings summary

Executive summary

• Achieved record net income of R$336 million in 3Q25, up 39% year-over-year, with ROE reaching 14.2% and ROA at 1.52%.

• Added 1.2 million new active clients, bringing total to 41.3 million, with improved onboarding and activation rates.

• Celebrated 10-year anniversary as Brazil's first digital bank, emphasizing innovation, customer centricity, and operational excellence.

• Maintained high client engagement, with over 20 million daily logins and 850 million transactions in September.

Financial highlights

• Net revenue reached R$2.2 billion, up 29% year-over-year and 8% sequentially, with total gross revenue at R$4.0 billion (+48% YoY).

• Loan portfolio grew 30% year-over-year to R$43.8 billion, led by credit cards, payroll/personal loans, and mortgages.

• Efficiency ratio improved to 45.2%, reflecting strong cost control and operational leverage.

• Funding franchise expanded 35% year-over-year to R$68 billion, with average deposit per client exceeding R$2,060.

• Basel ratio at 14.6%, reflecting a robust capital base despite rapid credit growth.

Outlook and guidance

• Long-term targets reaffirmed: 60 million clients, 30% efficiency ratio, and 30% ROE, though timing may be affected by high SELIC rates.

• Expect continued NIM expansion, strong monetization from new products, and fee income growth around 20% annually.

• Focus on scaling digital platform, expanding high-value credit segments, and leveraging AI for personalization and cross-selling.