Inter (INBR32) sees profits multiply 8 times in the first quarter, at R$ 195 million

The digital bank Inter (BDR: INBR32), which has shares in New York, announced this Thursday (8), net profit of R$ 195 million in the first quarter of 2024 (1Q24), which represents a growth of 706, 2% compared to the profit of R$24 million a year before.

Net revenue totaled R$1.401 billion in the first quarter of this year, growth of 36.8% compared to the same stage in 2023.

According to Inter, the strong performance was driven by the growth of NII, due to improvements in the composition of the loan portfolio, positive effects of the repricing of the real estate and personal portfolio, in addition to the reduction in the Selic rate.

Net profit before taxes reached R$274 million in the first quarter of 2024, an increase of 4,542% compared to the same period in 2023.

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Return on equity (ROE) reached 9.7% in 1Q24, an annual increase of 8.3 percentage points.

The gross sales volume (GMV) at Inter Shop totaled R$994 billion in 1Q24, an increase of 19.8% compared to a year before.

More Inter data

The gross credit portfolio, including advances on credit card receivables, grew 27.9% on an annual basis, reaching approximately R$32.1 billion in 1Q24.

Inter ended the first quarter with 31.7 million active customers, an increase of 20.7% over the active customer base in the same period in 2023.

A fact closely monitored in digital banks, the average revenue per active customer (ARPAC) ended the first quarter at R$45.2, down 1.7% on an annual basis.

The customer acquisition cost (CAC) closed the quarter at R$28.9 compared to R$29.8 a year earlier.

Inter’s net worth reached R$8.5 billion in the first quarter of 2024, an increase of 19.6% compared to the same period last year.