- The "60-30-30" plan aims to reach 60 million
clients, ˜30% cost-to-income ratio and ˜30% ROE by
2027
- Long-term net income target of +R$5 billion
- The plan marks the next step in the Company's evolution,
building upon its successful strategy to accelerate sustainable
self-funded growth
BELO
HORIZONTE, Brazil, Jan. 18,
2023 /PRNewswire/ -- Inter&Co (Nasdaq: INTR and
B3:INBR32), the premier Super App in the Americas providing
financial and digital commerce services to more than 24 million
customers in Brazil and the US,
announced today at its 2023 Investor Day its
"60-30-30" growth targets.
Inter revealed its ambitious targets for the next five years as
it continues to implement its strategy, grow its Super App, expand
into new markets and leverage its comparative financial
advantages.
By year-end 2027, Inter expects to:
- Achieve strong scale, more than doubling its
current client base to 60 million clients
- Operate more efficiently than its peers, with a
target efficiency ratio of approximately 30%
- Deliver high profitability, generating more than
R$5 billion in net income with a
˜R$100 billion loan book, bringing return on equity to
approximately 30%
"Inter has gone beyond banking to become the premier Super App
in the Americas. By balancing the right combination of technology
investment with unit economic growth and profitability, we have
built a suite of capabilities that are unmatched in the market,"
said João Vitor Menin, CEO of
Inter&Co. "We are still in the early stages in our evolution,
but our impressive results showcase how we are taking Inter to the
next level. We are confident that we have the right strategy,
solutions and team in place to execute on our goals and deliver
sustainable growth."
Inter, which listed on Nasdaq in June
2022, has generated significant momentum since becoming the
first free, full service, and fully digital bank in Brazil in 2015. Inter has leveraged the power
of its innovative technology to enhance the client experience,
upending the legacy banking model and igniting a revolution in
terms of financial inclusion in Brazil. The Inter Super App is designed to
make everyday activities simple and easy for everybody, all through
one experience, one account, and one single login that can be used
on any device, anywhere in the world.
The Company's focus on customer experience coupled with its
strong balance sheet has resulted in tremendous customer engagement
and growth. In the [third] quarter of 2022, Inter reported 47%
annual growth in its Loan Portfolio, reached R$50[1] in average monthly revenue per active
client (monthly ARPAC), and generated R$1.5 billion in Gross Revenue, which grew 85%
year over year[2]. Inter also had over 500,000 Global
Accounts and added an average of more than 5,000 new Global
Accounts every business day in the quarter. Furthermore, Inter's
global capabilities were strengthened last year following its
acquisition of USEND in the United
States.
"As we grow our client base and improve account monetization, we
expect our efficiency ratio to outperform our peers over time. Our
unit economics will also strengthen and compound as we continue to
expand. We have positioned Inter at the intersection of Banking and
Technology, leveraging the best of both worlds to create a better
customer experience and generate superior returns for all our
stakeholders," concluded João Vitor
Menin.
About Inter&Co
Inter&Co is the holding company of Inter Group and
indirectly holds all of Banco Inter's shares. Inter is the premier
Super App in the Americas providing financial and digital commerce
services to more than 24 million customers in Brazil and the US. The features offered in the
same digital ecosystem include a complete range of services in
banking, investments, credit, insurance and cross-border services,
in addition to a marketplace that brings together the best
retailers in Brazil and
the United States.
Contacts:
Grayling
Lucia Domville / Fabiane Goldstein
M +1 646. 824.2856/ +1 945.625.4793
lucia.domville@grayling.com /
fabiane.goldstein@grayling.com
DISCLAIMER
This presentation may contain forward-looking statements
regarding Inter growth plans. Statements contained in this
release that are not facts or historical information may be
forward-looking statements under the terms of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements may, among other things, beliefs related to the creation
of value and any other statements regarding Inter. In some cases,
terms such as "estimate", "plan", "aim", "can", "expectation",
"anticipate", "intend", "may", "will/shall" and similar terms, or
the negative of these expressions, may identify forward looking
statements. Any forward-looking statement made by us in this
presentation is based only on information currently available to us
and speaks only as of the date on which it is made. We undertake no
obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise. For additional information that about factors that may
lead to results that are different from our estimates, please refer
to sections "Cautionary Statement Concerning Forward-Looking
Statements" and "Risk Factors" of Inter&Co Annual Report on
Form 20-F.
In addition, this release contains managerial numbers that may
differ from those presented in our financial statements. The
calculation methodology for these managerial numbers is presented
in Inter's quarterly earnings release available at:
https://ri.bancointer.com.br/en/investor-updates/financial-information/.
The numbers for our key metrics, which include active users and
average revenue per active client (ARPAC) are calculated using
Inter's internal data. Whether based on what we believe to be
reasonable estimates, there are challenges inherent in measuring
the use of our products. In addition, we continually seek to
improve estimates of our user base, which may change due to
improvements or changes in methodology, in processes for
calculating these metrics and, from time to time, we may discover
inaccuracies and make adjustments to improve accuracy, including
adjustments that may result in recalculating our historical
metrics.
About Non-IFRS Financial
Measures.
This release contains non-IFRS measures of financial
performance. The non-IFRS Financial Measures include, among others:
Loan Portfolio and Gross Revenues. A "non-IFRS financial measure"
refers to a numerical measure of Inter&Co's historical or
financial position that either excludes or includes amounts that
are not normally excluded or included in the most directly
comparable measure calculated and presented in accordance with IFRS
in Inter&Co's financial statements.
1Note: R$ 50 of Gross
ARPAC adjusted for inflation. Non-IFRS measure. '3Q22 Adjusted'
excludes the non-recurring effects of deflation in 3Q22 and assumes
the inflation projected for 2023 from the Focus Report of Brazilian
Central Bank, divided by four
(https://www.bcb.gov.br/publicacoes/focus). The unadjusted figure
for 3Q22 was R$ 46.
2Note: The Total Gross Revenue for 3Q21 was R$ 0.8 billion.
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SOURCE Inter