Slide 1: Form 6-K cover page
United States Securities and Exchange Commission Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of August 2024 Commission File Number 132-02847 INTER & Co, INC. (Exact name of registrant as sp
Slide 2: 2Q24 Earnings Presentation
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 2Q24 Earnings Presentation August 2024
Slide 3: Disclaimer
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Disclaimer This report may contain forward-looking statements regarding Inter, anticipated synergies, growth plans, projected results and future strategies. While these forward-looking statements reflect our Management’s good faith beliefs, they invo
Slide 4: Highlights of the quarter
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 2Q24 Fi na nc ia l O pe ra tio na l Note: Definitions are in the Glossary section of this Earnings Presentation. 3 Highlights of the quarter Revenue growth Total gross revenue bnR$ Record 2.4 +24% YoY Number of clients Total clients mm Record 33 AuC
Slide 5: Agenda
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Agenda 1.CEO Overview 2.Business Update 3.Financial Performance
Slide 6: Growth + profitability = delivering 60/30/30
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 5 Growth + profitability = delivering 60/30/30 +35 % YoY Loan growth +5.5 mm YoY Total clients +47 % YoY Cards + PIX TPV 5.5 p.p YoY Efficiency ratio improvement +271 % YoY Pre-tax income +6.8 p.p YoY ROE +28 % YoY NII 16 % YoY Cost of funding improv
Slide 7: A platform that generates alpha
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 YoY Growth In % 6 A platform that generates alpha Individuals Banking Accounts Inter2 Market1 Business Banking Accounts Inter4 Market3 Cards TPV Inter8 Market7 FGTS Loans Inter6 Market5 Home Equity PF Inter10 Market9 Excess Growth +3% +6% +11% +23% +
Slide 8: Significant growth potential already in our ecosystem
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Total Individuals with Banking Accounts1 197 mm Total PIX Transactions3 13.6 bn Total Cards Volume6 964 bn Total Business9 22.1 mm Total Payroll Portfolio12 659 bn Total CC Portfolio15 582 bn Total FGTS Portfolio18 ~70 bn Total HE PF Portfolio21 21bn
Slide 9: Relentless focus on innovation and user experience
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 R$ 75.890,15 Relentless focus on innovation and user experience Note 1: The login volume used in this calculation is based on the average between June 20 to June 30. Note 2: Internal models used across Inter&Co’s teams and processes. 8 Seamless UI 7
Slide 10: Firing on all cylinders: excellence across 7 verticals
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Firing on all cylinders: excellence across 7 verticals 9 Banking 33.3mm clients Strong client base Credit R$35.7bn portfolio Scaling-up consumer finance products Insurance 1mm policies sold2 Asset-light business model Shopping R$1.1bn GMV2 Strong gro
Slide 11: Agenda
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Agenda 1.CEO Overview 2.Business Update 3.Financial Performance
Slide 12: Client activation and engagement: a consistent upward trend
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Client activation and engagement: a consistent upward trend 51.7% 51.2% 51.0% 51.5% 52.2% 52.7% 54.0% 54.9% 55.3% 10.7 11.6 12.6 13.5 14.5 15.5 16.4 17.4 18.4 20.7 22.8 24.7 26.3 27.8 29.4 30.4 31.7 33.3 - 5 .0 1 0. 1 5.0 2 0. 2 5.0 3 0. 3 5.0 2Q22 3
Slide 13: Transactional platform creates massive opportunity for consumer finance
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Quarters of relationship Cards + PIX TPV per Active Client In R$ thousand, monthly Cards + PIX TPV1 In R$ billions Transactional platform creates massive opportunity for consumer finance Sources: Banco Central do Brasil. Note 1: Height of PIX volume
Slide 14: Shopping and Loyalty: engaging clients in the super app
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 GMV In R$ millions 756 869 1,050 994 1,136 2Q23 3Q23 4Q23 1Q24 2Q24 13 Shopping and Loyalty: engaging clients in the super app +50% YoY Shopping Loyalty 1.7 8.3 0.0 1.0 2. 0 3. 0 4.0 5. 0 6.0 7.0 8.0 9.0 10.0 2Q23 2Q24 Clients In millions +398% YoY 1
Slide 15: Insurance and Investments: harvesting cross-selling opportunities
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 14 Insurance 344 322 389 404 1,023 39 47 47 52 58 0 10 2 0 3 0 4 0 5 0 6 0 -5 0 150 35 0 55 0 75 0 950 115 0 135 0 2Q23 3Q23 4Q23 1Q24 2Q24 +650 k FGTS Insurance Sales New Product Policies Sold Investments 77 83 92 95 105 3.6 4.2 4.7 5.3 5.7 -3. 0 -2
Slide 16: Global: expanding our product offering in the US
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 26 48 58 101 155 187 243 335 362 4 8 26 41 66 85 121 123 154 30 56 84 142 221 272 364 459 516 - 100 200 300 400 500 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 AuC & Deposits in US Dollars In USD millions Assets Under Custody2 Deposit Balance1 Total
Slide 17: Agenda
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Agenda 1.CEO Overview 2.Business Update 3.Financial Performance
Slide 18: Outperforming the market on credit growth
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Outperforming the market on credit growth Annualized Implied Rates1 In % 21%, 4.2 20%, 4.4 19%, 4.7 20%, 4.9 20%, 5.2 19%, 5.5 20%, 6.3 21%, 6.6 19%, 6.9 7%, 1.5 7%, 1.5 6%, 1.6 7%, 1.7 7%, 1.8 7%, 2.0 7%, 2.3 8%, 2.5 8%, 2.821%, 4.2 21%, 4.6 20%, 4.
Slide 19: Capital allocation focused on maximizing ROE
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 2Q24 Gross Loan Portfolio Growth and Balance In % YoY and in R$ billions Total Loan Portfolio Growth 35% Yo Y G ro w th Portfolio Size // Capital allocation focused on maximizing ROE while creating franchise value 18 R$ 2.6 Bn Δ +1.5 bn 93% R$ 2.8 Bn
Slide 20: Stable outlook, with sequential improvements across C.C. cohorts
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Stable outlook, with sequential improvements across C.C. cohorts Stable NPL trends, with record-low NPL 15 to 90 days New cohorts of credit cards continue to perform strongly 3 4 5 6 7 8 9 10 11 12 4.7% 4.7% 4.6% 4.8% 4.7% 4.9% 4.9% 4.8% 5.0% 5.0% 1.
Slide 21: Stable levels in cost of risk and coverage ratio
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Coverage Ratio2 In % 6.2% 5.9% 5.2% 5.2% 5.0% 6.5% 6.2% 5.4% 5.4% 5.3% 2Q23 3Q23 4Q23 1Q24 2Q24 Cost of Risk Cost of Risk (Exc. Anticip. of CC Rec.) 130% 132% 132% 131% 130% 2Q23 3Q23 4Q23 1Q24 2Q24 Cost of Risk1 In % Stable levels in cost of risk an
Slide 22: Strong accelerating of deposits growth across products
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 35% 9.8 34% 10.4 35% 11.6 33% 11.0 33% 11.7 31% 12.3 33% 14.4 32% 13.8 32% 15.1 31% 8.6 31% 9.6 32% 10.5 35% 11.7 36% 13.0 38% 15.1 38% 16.3 39% 16.9 39% 18.8 22% 6.1 22% 6.9 19% 6.2 20% 6.6 20% 7.0 19% 7.5 19% 8.1 19% 8.2 18% 8.5 12% 3.3 13% 3.9 14%
Slide 23: Low cost of funding as a strong competitive edge
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Avg. CDI of Quarter Cost of Funding Cost of Funding as % of CDI Cost of Funding In %, annualized Low cost of funding as a strong competitive edge Note 1: Average CDI daily rate during the quarter. 1 10.27% 12.38% 13.47% 13.65% 13.65% 13.65% 13.28% 12
Slide 24: Consistent growth across revenue streams
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 64% 65% 67% 69% 70% 65% 67% 69% 70% 36% 35% 33% 31% 30% 35% 33% 31% 30% 0.9 0.9 1.0 1.0 1.2 1.3 1.3 1.4 1.5 1.5 1.5 1.7 1.8 1.9 2.1 2.2 2.3 2.4 - 0 .5 1 .0 1 .5 2 .0 2 .5 3 .0 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 Revenue In R$ billions Consis
Slide 25: Maximizing value through economies of scale and client monetization
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 ARPAC and CTS Evolution In R$, monthly 12.8 13.5 14.9 17.1 17.9 17.7 18.5 19.2 28.6 30.6 28.8 29.6 30.5 30.2 30.1 30.4 15.8 17.1 13.8 12.5 12.7 12.5 11.7 11.1 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 Maximizing value through economies of scale and cli
Slide 26: Record Risk-Adjusted NIMs
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Risk-Adjusted1 NIM 2.0 Risk-Adjusted1 NIM 1.0 4th consecutive quarter of risk-adjusted NIM improvement NIM 2.0 NIM 1.0 Risk-Adjusted NIM In % 25 3.9% 3.4% 4.4% 3.8% 4.1% 3.9% 4.3% 4.5% 4.6% 4.6% 3.9% 5.1% 4.4% 4.8% 4.6% 5.0% 5.3% 5.5% 7.0% 6.4% 7.2%
Slide 27: Spending in strategic fronts that drive long-term value
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Note 1: IFRS Financial Statements lines: “Personnel expenses”, “Depreciation and Amortization”, “Administrative Expenses”. Note 2: Others = third party services; rent, condominium fee and property maintenance; provisions for contingencies and Financi
Slide 28: Consistent Efficiency Ratio, on track with the plan
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 114 119 115 137 140 158 172 179 192 202 100 89 89 95 108 96 91 98 100 100 104 7 0 10 0 13 0 16 0 19 0 2 20 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 88.3% 71.9% 68.3% 75.0% 73.4% 62.4% 53.4% 52.4% 51.4% 47.7% 47.9% 21.5% 18.7% 21.2%22.3%
Slide 29: Surpassing double digit ROE milestone
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 -2.6% -1.4% 0.8% -1.7% 1.6% 1.4% 3.6% 5.7% 8.5% 9.7% 10.4%Earnings Before Tax, Net Income & ROE In R$ millions and in % Pre-tax Income Net Income ROE Surpassing double digit ROE milestone (56) (29) 16 (30) 29 24 64 104 160 195 223 -111 -100 12 -70 -2
Slide 30: Closing Remarks
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Closing Remarks
Slide 31: On track towards the 60/30/30 plan
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 2Q 24 Pr og re ss Si nc e 3Q 22 2Q24: On track towards the 60/30/30 plan mm 2Q23 2Q24 Δ QoQ +42 bps +52.2% +55.3% 33.3 Total Clients Increasing activation 30 -12 bps +71 bps Note: Definitions are in the Glossary section of this Earnings Presentation.
Slide 32: Welcoming new senior team members
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Rafaela Vitória Chief Economist & IRO Jim Allen Independent Board Member Mônica Sccarelli Investments Officer Alexandre Riccio Brazil CEO Welcoming new senior team members Rui Leandro Tax Officer Fernando Bacchin Transactional Products Officer Marcel
Slide 33: Appendix
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Appendix
Slide 34: Capital ratio comprised exclusively of high-quality core Tier I capital
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 33 Loan Portfolio QoQ Growth RWA QoQ Growth Tier-I Ratio In % Capital ratio comprised exclusively of high- quality core Tier I capital Several opportunities to continue redeploying capital into loan growth Tier-I capital Source: Banco Inter Bacen GAA
Slide 35: Balance Sheet and Income Statement
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Balance Sheet (In R$ million) Income Statement (In R$ million) 34 2Q24 2Q23 Variation % 06/30/2024 06/30/2023 ∆YoY Balance Sheet Assets Cash and cash equivalents 2,797 3,672 -24% Amounts due from financial institutions 5,280 2,557 107% Compulsory dep
Slide 36: Non-IFRS measures and KPIs – Market Share Definitions (Page 6)
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Non-IFRS measures and KPIs – Market Share Definitions (Page 6) Note 1: The total number of individuals with with bank accounts in Brazil, based on data from Banco Central do Brasil, as of June 30th, 2024 compared to June 30th, 2023. Note 2: The total
Slide 37: Non-IFRS measures and KPIs – Market Share Definitions (Page 7)
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Non-IFRS measures and KPIs – Market Share Definitions (Page 7) Note 1: Total number of individuals with active relationships with banks in Brazil, based on data from Banco Central do Brasil (Bacen), as of June/2024. Note 2: Total number of individual
Slide 38: Non-IFRS measures and KPIs
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Non-IFRS measures and KPIs Activation Rate: Number of active clients at the end of the quarter Total number of clients at the end of the quarter Active clients: We define an active client as a customer at any given date that was the source of any amo
Slide 39: Non-IFRS measures and KPIs
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Card+PIX TPV: PIX, debit and credit cards and withdrawal transacted volumes of a given period. PIX is a Central Bank of Brazil solution to bring instant payments among banks and financial institutions in Brazil. Card+PIX TPV per active client: Card+P
Slide 40: Non-IFRS measures and KPIs
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Gross loan portfolio: Loans and Advance to Customers + Loans to financial institutions Gross merchandise volume (GMV): Gross merchandise value, or GMV, for a given period as the total value of all sales made or initiated through our Inter Shop & Comm
Slide 41: Non-IFRS measures and KPIs
E A R N I N G S P R E S E N T A T I O N | 2 Q 2 4 Risk-Adjusted NIM 2.0: Net interest income − Impairment losses on Minancial assets x 4 Average of 2 Last Quarters Earning Portfolio (Loans to Minancial institutions + Securities + Derivatives + Net loans and advances to customers) SG&A: Administrativ
Slide 42: Inter&Co | INTR Nasdaq Listed
sinter&co INTR | Nasdaq Listed
Slide 43: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. INTER & Co, INC. By: /s/ Rafaela de Oliveira Vitoria Name: Rafaela de Oliveira Vitoria Title: Investor R