Business
XP Inc. Reaches R$563 Billion Total AUC and 2.6 million Active Clients in September 2020
SÃO PAULO, Brazil, Oct. 14, 2020 (GLOBE NEWSWIRE) -- XP Inc. (Nasdaq: XP), a leading, technology-driven financial services platform and a trusted provider of
About this update from Xp Inc.
[{"type":"text","content":"SÃO PAULO, Brazil, Oct. 14, 2020 (GLOBE NEWSWIRE) -- XP Inc. (Nasdaq: XP), a leading, technology-driven financial services platform and a trusted provider of low-fee financial products and services in Brazil, announced today 3Q20 KPIs, including Assets Under Custody, Net Inflow, Active Clients, Retail Equity DARTs and NPS.\n\n \n \n \n \n \n \n \n \n \n \n \n Individual Investors in B3 (in ‘000s)\n \n \n \n \n \n \n \n \n\n Assets Under Custody (in R$ billion) Total AUC reached R$563 billion at September 30, up 60% year-over-year and 29% quarter-over-quarter. Growth was driven by R$117 billion of net inflows and R$11 billion of market appreciation. Net inflows reaccelerated relative to 2Q20 and were positively impacted by an extraordinary equity inflow, a consequence of increased brand recognition among high net worth individuals. This corroborates with our strategy to accelerate the growth in the segment, now under Jose Berenguer’s leadership. Despite not being expected to bring short term Retail Revenues, this type of extraordinary equity custody is expected to generate several cross-selling opportunities across our ecosystem, particularly for Private Banking and Issuer Services. Net Inflow (in R$ billion) Net Inflow totaled R$117 billion in 3Q20, recovering from 2Q20 when the Covid-19 crisis and consequent lockdown weighed on results particularly in April and May. Average monthly Net Inflow, adjusted by the extraordinary equity inflow, increased 32% to R$12.9 billion in 3Q20 from R$9.8 billion in 2Q20. Over the quarter, flows were strong across all channels and brands, with the ongoing shift away from fixed income and savings into higher yielding products continuing to gain traction, due to low interest rates in Brazil combined with an underpenetrated market. Active Clients (in ‘000) Active clients grew 72% and 12% in 3Q20 vs 3Q19 and 2Q20, respectively. Consistent with 1H20, growth was strong through all channels, with Rico and Clear brands growing at a faster pace than XP. Furthermore, our first digitally held Expert event in July impacted five million people, contributing to the acceleration of client additions during the quarter. Retail Equity DARTs¹ (million trades) ¹Daily Average Revenue Trades Retail Equity DARTs increased 4% sequentially, stabilizing on a very strong level, and 181% versus 2019 in 3Q20. The number of ...