Inter & Co (INTR) Q4 2025 earnings summary

Executive summary

• Achieved record growth and profitability in 2025, adding 4.4 million net new active clients and reaching 43.1 million total clients, with 25 million active users at year-end.

• Net income for 2025 reached R$1.3 billion (+45% YoY), with Q4 net income at R$374 million and annualized ROE at 15.1%.

• Loan portfolio grew 36% year-over-year to R$48.3 billion, outpacing the Brazilian market, driven by payroll loans, real estate financing, and credit cards.

• Expanded global presence with U.S. bank license approval and new international product offerings.

• Continued innovation with new digital products and platforms, including Forum, My Piggy Bank, and My Credit Journey.

Financial highlights

• Total gross revenues reached R$14,999 million in 2025, up 45% year-over-year; net revenues grew 31% to R$8.4 billion.

• Net interest income and income from securities, derivatives, and FX grew 44.6% YoY in 4Q25.

• Efficiency ratio improved to 45.5% in 4Q25, down 2.9 p.p. YoY.

• Funding reached R$72.9 billion (+32.4% YoY), with time deposits up 42% YoY.

• Basel ratio at 14.4% in December 2025, with significant excess capital at the holding level.

Outlook and guidance

• Targeting 25-30% loan growth for 2026, with potential to exceed based on opportunities.

• Positioned for continued growth in 2026, leveraging AI advancements, operational efficiency, and a scalable platform.

• Cost of risk projected between 5.5% and 6% for 2026, in line with industry trends.

• Committed to the 60/30/30 plan: 60 million clients, 30% ROE, and 30% efficiency ratio by 2027.

• Focus on compounding profitability, innovation across business verticals, and further global expansion.