Inter&Co, Inc. has recently wrapped up a strong performance in the final quarter of 2024, achieving record net income figures. The company notched a net income of R$973 million, tripling its earnings compared to the previous year, according to a report from GlobeNewswire. This figure underscores the company's robust financial health as it prepares to release its Q1 2025 results in the near future.
In addition to its net income, Inter&Co reported a total net revenue of R$6.4 billion, representing a 35% increase from the same period last year. The company's Net Interest Margin (NIM) also experienced growth, reaching 9.7%, up from 9% a year prior. Net fee revenues rose to over R$2.0 billion, which is a 31% enhancement year-over-year, indicating a well-rounded growth across various revenue streams. Client acquisition remained strong with the total client base expanding to 36 million, 20.6 million of whom are actively engaged, achieving an activation rate of 57%.
Company strategies are reflected in these outcomes, shown by an improved efficiency ratio of 47.7% and a rising Return on Equity (ROE) at 9.7% for the fifth quarter in succession, documented in reports from the SEC. Inter&Co extended its loan portfolio by 27.9% to R$32.1 billion, matched by a 30.6% increase in total funding amounting to R$43.8 billion. The quality of assets remained a focus, with non-performing loans over 90 days at 4.8% and a coverage ratio of 131%.
