Summary of INTR Q2 2026 Earnings Call

1Key Financial Results and Metrics

Net Revenue: Grew by 32% year-over-year.

Return on Equity (ROE): Reached a record 16.3%.

Net Income: Achieved a record of BRL 421 million, marking 13 consecutive quarters of growth.

Net Interest Margin (NIM): Increased to 10.1%, the first time crossing the double-digit mark.

Active Clients: Totaled 45.3 million, with an addition of 3.7 million new clients over the past year.

Loan Portfolio: Expanded to BRL 55.4 billion, up 29% year-over-year.

Efficiency Ratio: Improved to 42.1%, a record low.

2Strategic Updates and Business Highlights

Rule of 50: The company is executing its long-term plan, focusing on growth and profitability simultaneously.

Client Engagement: Daily log-ins increased to 22 million, indicating higher client engagement.

Market Share Gains: Achieved over 2% market share in credit card TPV and approximately 9% in fixed transactions.

Product Expansion: Launched new initiatives, including insurance products and subscription plans to enhance fee income.

Private Payroll Loans: Surpassed 600,000 clients, contributing significantly to revenue and profitability.

3Forward Guidance and Outlook

Growth Projections: Confident in maintaining over 30% growth in the coming years, supported by a large addressable market.

NIM Expectations: Anticipate continued NIM expansion, projecting a 40 basis points increase for the year.

Asset Quality Management: Plans to manage credit risk carefully while expanding the loan portfolio, particularly in secured and unsecured segments.

4Bad News, Challenges, or Points of Concern

Asset Quality: Noted an increase in delinquency rates, particularly in private payroll loans, which could impact future provisions.

Market Environment: Concerns regarding high debt service ratios among Brazilian families and potential economic headwinds due to upcoming elections.

Write-off Policy Change: Adjusted the write-off policy for credit cards from 360 days to 330 days, which could affect NPL ratios.

Operational Delays: Delays in implementing data relinkage for private payroll loans have contributed to higher delinquency rates.

5Notable Q&A Insights

NIM Drivers: Management clarified that the strong NIM was influenced by inflation dynamics and expects smoother performance moving forward.

Provisions and Coverage Ratio: Coverage ratio decreased to around 134%, with expectations to maintain this level in the near term despite macroeconomic uncertainties.

Credit Risk Management: The company is taking a strategic approach to credit risk, balancing growth with profitability, and remains optimistic about future performance despite current challenges.

Impact of Debt Renegotiation: The recent debt renegotiation program had a positive impact on asset quality metrics, although the overall effect was modest. Overall, Inter has demonstrated strong financial performance and growth, but faces challenges related to asset quality and macroeconomic conditions that require careful management moving forward.