Inter & Co Delivers Record-Breaking Profits, Sets Sights on Global Expansion
In a highly anticipated earnings call, Inter & Co revealed a remarkable financial performance for 2024's fourth quarter. CEO Joao Vitor Menin proudly announced that the company delivered more profits in a single year than it had in its entire history combined.
"This is a proof of the success of our business model, which we designed back in 2016," Menin said during the call. "It also gives me strong confidence that we are on the right path." The CEO attributed this achievement to the company's unique ability to combine growth and profitability through a positive network effect.
Inter & Co's digital banking platform is built on a robust business model that features a complete product offering, best-in-class user experience (UX), and low-cost structure. This allows the company to price its products competitively while maintaining high profitability and return on equity (ROE). As profits grow, they fuel further innovation and expansion.
In 2024, Inter & Co made significant strides in several key areas. The company's digital payroll offering reached a milestone of more than 50% of new underwritings, while its Consumer Finance 2.0 portfolio showed impressive scaling. The Forum platform attracted millions of users who share investment tips, news, and stay updated on Inter products.
The company also cracked the code on combining commerce with finance through its commerce platform, which had an outstanding year. Additionally, Loop, its loyalty program, surpassed 11 million clients by offering expanded options for earning and redeeming points.
Inter & Co's global expansion gained momentum in 2024, reaching 3.9 million clients using its global account by the end of the year. The company's attractive value proposition made it easy to invest, travel, send money internationally, and more.
The highlight of Inter & Co's global expansion was the launch of its dollar credit cards last December. This move demonstrates the company's commitment to providing innovative financial solutions tailored to meet the evolving needs of its clients.
As Inter & Co continues to execute its 6/30/'30 plan, it remains focused on growing and innovating its platform. With a strong track record of delivering impressive profits, the company is well-positioned for continued success in the years ahead."
