XP Inc. Reports 2Q20 Financial Results

About this update from Xp Inc.

[{"type":"text","content":"SÃO PAULO, Brazil, Aug. 11, 2020 (GLOBE NEWSWIRE) -- XP Inc. (NASDAQ: XP) (“XP” or the “Company”), a leading, technology-driven financial services platform and a trusted pioneer in providing low-fee financial products and services in Brazil, today reported its financial results for the second quarter of 2020.\n To our shareholders: We reached the end of a very challenging semester, but with a feeling of “mission accomplished”. Amid the global crisis and many uncertainties, we took the time to consolidate our culture, strengthen our purpose and demonstrate to the entire team that when we stand firm and work hard with our feet on the ground, we can achieve extraordinary results. Our financial and operational performance results reinforce our belief that we are moving in the right direction, consolidating our path without shortcuts and with humility to change course when necessary. More than ever, we believe in the strength and potential of our business model and our people. As we often say, we are sure that we are only at the beginning of a long journey. During the second quarter of 2020, we made a series of important announcements regarding various initiatives, with the common goal of strengthening our ecosystem and generating sustainable long-term value. The permanent adoption of our remote work model and the idealization of Villa XP were influenced by the perception that the world is changing, and that the rapid adaptation of a new corporate lifestyle will drive competitive advantages. Many paradigms have been broken and we continue to increasingly challenge the status quo in the face of a crisis. In this sense, the pandemic and its consequences, especially the isolation, brought an opportunity to rethink concepts of relationships, work, productivity and quality of life. To take this step, we carefully listened to our nearly 3,000 employees and thoroughly analyzed the merits and risks of the model. Although we are still in the initial stage of this project, we are very excited and confident that this could be a transformational moment for the Company. In terms of sustainability, we recently created an ESG Board with the objective of organizing the company's existing initiatives and developing an ambitious and comprehensive plan to meet the high level of international requirements and best practices. Leaving a better world for f...

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