Business
XP Inc. Reports 2Q23 KPIs
SÃO PAULO--(BUSINESS WIRE)-- XP Inc. (Nasdaq: XP), a leading, technology-driven platform and a trusted provider of low-fee financial products and services in
About this update from Xp Inc.
[{"type":"text","content":" SÃO PAULO--(BUSINESS WIRE)--\nXP Inc. (Nasdaq: XP), a leading, technology-driven platform and a trusted provider of low-fee financial products and services in Brazil, announced today its 2Q23 KPIs. The Portuguese version of this release can be accessed in the Press Release section on the IR website. Additional KPI details and historical data can be found in our financial spreadsheet.\n\n\n1. INVESTMENTS\n\n\nClient Assets and Net Inflow (in R$ billion)\n\n\nClient Assets totaled R$1.0 trillion as of June 30th, up 21% YoY and 7% QoQ. Year-over-year growth was driven by R$104 billion net inflows and R$73 billion of market appreciation.\n\n\nIn 2Q23, Net Inflow was R$22 billion, up 36% QoQ and down 49% YoY. Retail Net Inflow was R$18.4 billion while Corporate Net Inflow was R$3.7 billion.\n\n\nActive Clients (in ‘000s)\n\n\nActive clients grew 1% QoQ and 11% YoY, totaling 4.0 million in 2Q23.\n\n\nIFA Network (in ‘000s)\n\n\nOur network reached 14.1 thousand IFAs in 2Q23, up 9% QoQ and 25% YoY.\n\n\nRetail Daily Average Trades (in million)1\n\n\nRetail DATs totaled 2.2 million in 2Q23, down 4% YoY and 8% QoQ, reflecting weaker volumes especially in futures.\n\n\nNPS (Net Promoter Score)\n\n\nOur NPS, a widely known survey methodology used to measure customer satisfaction, was 76 in 2Q23. Maintaining a high NPS score remains a priority for XP since our business model is built around client experience. The NPS calculation as of a given date reflects the average scores in the prior six months.\n\n\n2. RETIREMENT PLANS\n\n\nRetirement Plans Client Assets2 (in R$ billion)\n\n\nAs per public data published by Susep, XPV&P continued to be #1 in net portability for individual retirement plans in 2023, as of May, while our total Market Share still stood at 4.0% and individual’s market share (PGBL and VGBL) stood at 4.6%. Total Client Assets achieved R$64 billion in 2Q23, up 18% YoY. Assets from XPV&P, our proprietary insurer, grew 30% YoY, reaching R$51 billion.\n\n\n3. CARDS3\n\n\nCards TPV (in R$ billion)\n\n\nIn 2Q23, Total TPV reached R$9.7 billion, a 77% growth YoY, and 13% growth versus 1Q23.\n\n\nActive Cards (in ‘000s)\n\n\nTotal active cards were 957 thousand in 2Q23, a growth of 15% QoQ and 150% YoY. We ended 2Q23 with 741 thousand active digital accounts, representing a penetration of 18% of total active clients.\n\n\n4. CREDIT\...