Slide 1: Form 6-K Report of Foreign Private Issuer
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 November 2024 Commission File Number 132-02847 INTER & Co, INC. (Exact name of registrant as
Slide 2: 3Q24 Earnings Presentation
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 3Q24 Earnings Presentation November 2024
Slide 3: Disclaimer
E A R N I N G S P R E S E N T A T I O N | 3 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: 3Q24 highlights
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 3Q24 highlights 34.9 million clients R$2.7 billion gross revenue R$260 million net income 11.9% ROE The super app of your financial life R$50 billion funding R$122 billion AuC R$1.2+ trillion run rate TPV 3Note: Definitions are in the Glossary sectio
Slide 5: Agenda: CEO Overview
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 4 Agenda 1.CEO Overview 2.Business Update 3.Financial Performance 3Q24 Earnings Presentation João Vitor Menin Global CEO
Slide 6: Our unique competitive edge
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 5 Our unique competitive edge 35 MM Driving upselling & cross-selling Principality Clients Best-in-class UX/UI Complete suite of products Platform Now: 3-Dimensional Growth
Slide 7: A platform that generates alpha across verticals
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 A platform that generates alpha across verticals Ex ce ss G ro w th In te r& Co M ar ke t +2.2x +3.3x +3.5x +3.4x +3,2x +3.8x +48.3x +45% +35% +57% +60% +59% +74% +150% +21% +10% +16% +18% +19% +19% +3% YoY Growth In % 6 Note 1: “Estoque de Chaves po
Slide 8: Relentless focus on innovation and on our clients
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 Relentless focus on innovation and on our clients Note: Definitions are in the Glossary section of this Earnings Presentation. Note 1: As of August 2023. 7 Run-rate TPV R$1.2 trillion Even more engaged clients Hyper-personalization evolution 2x 10x +
Slide 9: What we achieved so far: 5-year north star
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 Total Clients What we achieved so far 3Q24 Our 5-year north star By 2027 8 Where we started 3Q22 Year 0 Year 2 Year 5 23MMO pe ra tio na l 34.9MM Efficiency Ratio 75% Pe rf or m an ce Return on Equity (2%) Pr ofi ta bi lit y 50.7% 11.9% Year 1 4Q23 Y
Slide 10: Agenda: Business Update
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 9 Agenda 1.CEO Overview 2.Business Update 3.Financial Performance 3Q24 Earnings Presentation Alexandre Riccio Brazil CEO
Slide 11: Total clients and business clients
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 +22% YoY 10 Total Clients 51.2% 51.0% 51.5% 52.2% 52.7% 54.0% 54.9% 55.3% 11.6 12.6 13.5 14.5 15.5 16.4 17.4 18.4 19.5 22.8 24.7 26.3 27.8 29.4 30.4 31.7 33.3 34.9 - 5 .0 1 0. 1 5.0 2 0. 2 5.0 3 0. 3 5.0 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 A
Slide 12: Focus on SMBs, higher activation
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 Total Clients Business Clients Focus on SMBs Higher Activation Higher ARPAC 55.9% Activation Ratio +327 bps YoY Improving Client Engagement 11 Consistent upward trend in client activation and engagement Note: Definitions are in the Glossary section o
Slide 13: Banking: Cards and PIX TPV
Cards + PIX TPV per Active Client In R$ thousand, monthly Cards + PIX TPV1 In R$ billions Sources: Banco Central do Brasil. Note 1: Height of PIX volume was reduced to fit on page. 12 Banking %YoY +46% +48% +21% +16% +25%10.3; 49% 11.7; 49% 11.9; 51% 12.3; 51% 12.9; 51% 10.9; 51% 12.2; 51% 11.3; 49%
Slide 14: Credit: Consumer Finance 2.0 portfolio
13 Credit Consumer Finance 2.0 Portfolio1 In R$ millions PIX Financing Buy Now Pay Later 175 330 503 - 100 200 300 400 500 600 1Q24 2Q24 3Q24 +52%QoQ Overdraft Transactional platform creates significant opportunity for consumer finance Note 1: Consumer finance portfolio includes PIX financing, bill
Slide 15: Shopping and Loyalty
Shopping Note 1: Average Loop clients ARPAC vs average non-Loop clients ARPAC. GMV In R$ millions 869 1,050 994 1,136 1,381 3Q23 4Q23 1Q24 2Q24 3Q24 6% GMV converted to BNPL (3Q24) Shopping and Loyalty: harvesting cross-selling opportunities +59% YoY Loyalty Clients In millions 1.7 4.0 6.6 8.3 10.0
Slide 16: Increasing engagement in Shopping and Loyalty
15 Increasing Engagement 6% GMV converted to BNPL (3Q24) ˜2x Higher Gross ARPAC1 Shopping Loyalty Turning the plan into reality Shopping and Loyalty: harvesting cross-selling opportunities Note 1: Average Loop clients ARPAC vs average non-Loop clients ARPAC.
Slide 17: Investments and Insurance
16 Insurance Policies Sold Investments Active Contracts Assets Under Custody Active Clients 322 389 404 1,023 1,308 1.6 1.7 1.9 2.6 3.4 - 1.5 - 0. 5 0 .5 1. 5 2 .5 3 .5 - 200 400 600 800 1,000 1,200 1,400 1,600 3Q23 4Q23 1Q24 2Q24 3Q24 Sales and Contracts In thousands and millions AuC & Active Clien
Slide 18: Investments and Insurance highlights
17 3.4MM Active Contracts +115% YoY R$3.4BN Piggy Bank1 AuC +48% QoQ Increasing Funding High margin products Note: Definitions are in the Glossary section of this Earnings Presentation. Note 1: “Meu Porquinho” in Portuguese. InsuranceInvestments Investments and Insurance: engaging clients in the sup
Slide 19: Global: expanding product offering in the US
AuC & Deposits in US Dollars In USD millions Assets under Custody & Management2 Deposit Balance1 Total Global: expanding our product offering in the US million Global Clients 18 Global - - 101 155 187 243 335 381 1,303 8 26 41 66 85 121 123 154 171 8 26 142 221 272 364 459 536 1,474 - 2 0 .0 4 0 .0
Slide 20: Active clients per product
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 Active Clients per Products In millions 19Note 1: Existing products before 1Q19, however the actual number of active clients starts only from 1Q20 in order to fit the graph. Note 2: Excluding clients that has only “CDB Meu Porquinho” linked products.
Slide 21: Closing the 8% market share gap
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 Closing the 8% market share gap Market Share In % 20 8.1% 7.4% 6.1% 3.8% 3.8% 2.6% 1.3% 1.1% 7. 9% 5. 7% 4. 2% 2. 9% 2. 8% 2. 3% 1. 2% 0. 9% Banking / Transactional Platform Products 1 Year Ago PIX Transactions1 Home Equity PF2 FX Transactions3 FGTS
Slide 22: Significant growth potential in our ecosystem
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 Total Individuals with Banking Accounts1 199 mm Total PIX Transactions3 14.7 bn Total Cards Volume6 1,036 bn Total Business9 21.3 mm Total Payroll Portfolio12 672 bn Total CC Portfolio15 595 bn Total FGTS Portfolio18 ~76 bn Total HE PF Portfolio21 23
Slide 23: Agenda: Financial Performance
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 22 Agenda 1.CEO Overview 2.Business Update 3.Financial Performance 3Q24 Earnings Presentation Santiago Stel CFO
Slide 24: Loan portfolio breakdown
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 23 QoQ YoY +7% +35% Total +61% +258% Anticip. of CC Receiv. +2% +25% Total Excl. Anticip. of CC Receiv. +2% +25% Credit Card -39% -32% Agribusiness -5% +21% SMBs +13% +77% FGTS +3% +2% Personal +13% +54% Home Equity +3% +30% Real Estate Note: Definit
Slide 25: NPL and Stage 3 formation
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 3 4 5 6 7 8 9 10 11 12 NPL > 90 days1 In % Credit Cards NPL > 90 Days per Cohort2 In % NPL 15 to 90 days1 In % NPL and Stage 3 Formation In % Note: Definitions are in the Glossary section of this Earnings Presentation. Note 1: Considering Gross Loan
Slide 26: Coverage ratio and cost of risk
Coverage Ratio In % Cost of Risk1 In % 25 5.9% 5.2% 5.2% 5.0% 5.1% 2 .0 % 3 .0 % 4 .0 % 5 .0 % 6 .0 % 7 .0 % 8 .0 % 3Q23 4Q23 1Q24 2Q24 3Q24 132% 132% 131% 130% 130% 0 .0 % 2 0. 0% 4 0. 0% 6 0. 0% 8 0. 0% 10 0 .0 % 12 0 .0 % 14 0 .0 % 16 0 .0 % 18 0 .0 % 2 0 .0 % 3Q23 4Q23 1Q24 2Q24 3Q24 Stable cost
Slide 27: Funding and funding per active client
26 QoQ YoY +3% +7% Deposits per Active Client +1% +6% Loans to Funding Ratio +5% +27% Total -22% -13% Other +6% +21% Securities Issued +13% +40% Time Deposits +5% +30% Transactional Deposits 10.4; 34% 11.6; 36% 11.0; 33% 11.7; 33% 12.3; 31% 14.4; 33% 13.8; 32% 15.1; 32% 15.9; 32% 9.6; 31% 10.5; 32%
Slide 28: Cost of funding
Avg. CDI of Quarter Cost of Funding Cost of Funding as % of CDI Cost of Funding1 In %, annualized Note: Definitions are in the Glossary section of this Earnings Presentation. Note 1: Average CDI daily rate during the quarter. 1 27 Cost of funding at 6.8%, one of the lowest in the industry 7.9% 7.5%
Slide 29: Consistent growth across revenue streams
Consistent growth across revenue streams 28Note: Definitions are in the Glossary section of this Earnings Presentation. 556 65% 675 67% 712 69% 802 70% 819 65% 876 67% 971 69% 1,030 70% 1,125 69% 1,135 68% 295 35% 327 33% 313 31% 348 30% 447 35% 437 33% 430 31% 449 30% 517 31% 541 32% 850 1,002 1,02
Slide 30: ARPAC and cost to serve evolution
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 ARPAC and CTS Evolution In R$, monthly Maximizing value through economies of scale and client monetization 29 Strong ARPAC with stable CTS 12.8 13.5 14.9 17.1 17.9 17.7 18.5 19.2 19.9 28.6 30.6 28.8 29.6 30.5 30.2 30.1 30.4 32.5 15.8 17.1 13.8 12.5 1
Slide 31: 4th consecutive quarter with NIM improvement
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 4th consecutive quarter with NIM improvement Risk-Adjusted NIM 1.0 30 6.4% 7.2% 7.4% 8.1% 7.8% 7.6% 7.8% 7.8% 8.1% 7.4% 8.4% 8.7% 9.5% 9.2% 9.0% 9.2% 9.2% 9.6% 3.9% 5.1% 4.4% 4.8% 4.6% 5.0% 5.3% 5.5% 5.6% 3.4% 4.4% 3.8% 4.1% 3.9% 4.3% 4.5% 4.6% 4.8%
Slide 32: Strong NIM growth as % of CDI
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 31 47.4% 53.0% 54.3% 59.6% 58.8% 62.1% 69.1% 74.4% 77.9% 55.3% 61.7% 63.5% 69.8% 69.2% 73.5% 81.8% 87.8% 91.7% 29.1% 37.5% 32.2% 35.1% 34.7% 41.2% 47.2% 51.9% 53.6% 24.9% 32.2% 27.6% 30.0% 29.5% 34.8% 39.9% 43.9% 45.6% 20 .0 % 30 .0 % 40 .0 % 50 .0 %
Slide 33: Expenses breakdown
Note: Definitions are in the Glossary section of this Earnings Presentation. 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 fo
Slide 34: Efficiency ratio
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 Total Administrative Eff. Ratio Personnel Eff. Ratio Net Revenue and Expenses Index 100 Efficiency Ratio In % 71.9% 68.3% 75.0% 73.4% 62.4% 53.4% 52.4% 51.4% 47.7% 47.9% 50.7% 18.7% 21.2% 22.3% 25.7% 18.0% 17.3% 18.0% 18.1% 14.5% 14.8% 16.7% 53.2% 47
Slide 35: Net income and ROE
Net Income & ROE In R$ millions and in % Net Income ROE Surpassing double digit ROE milestone 34 -30 32 11 49 91 151 183 206 243 -30 29 24 64 104 160 195 223 260 -50 - 50 100 150 200 250 300 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 Net Income Excluding Minorities -1.7% 1.6% 1.4% 3.6% 5.7% 8.5% 9
Slide 36: Closing Remarks
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 Closing Remarks 3Q24 Earnings Presentation 35
Slide 37: 34.9 million clients, still raising the bar
36 34.9 million clients The super app of your financial life Still raising the bar Note: Definitions are in the Glossary section of this Earnings Presentation.
Slide 38: Appendix
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 Appendix 3Q24 Earnings Presentation 37
Slide 39: Tier-I capital and excess capital
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 38 Tier-I capital 29.8% 24.1% 23.0% 22.8% 23.7% 23.0% 20.3% 19.3% 17.0% 0 .0 % 5 .0 % 10 .0 % 15 .0 % 2 0. 0% 2 5. 0% 3 0. 0% 3 5. 0% 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 Tier-I Ratio – Banco Inter S.A. In % 12% 2% 3% 3% -4% 6% 8% 6% 7% 11% 1
Slide 40: 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 | 3 Q 2 4 Balance Sheet (In R$ million) Income Statement (In R$ million) 39 09/30/2024 06/30/2024 09/30/2023 ∆QoQ ∆YoY Balance Sheet Assets Cash and cash equivalents 2,274 2,797 4,297 -18.7% -47.1% Amounts due from financial institutions 5,225 5,280 3,474 -1.0
Slide 41: Non-IFRS measures: Market share definitions
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 40 Non-IFRS measures and KPIs – Market Share Definitions (Page 22) Note 1: Total number of individuals with active relationships with banks in Brazil, based on data from Banco Central do Brasil (Bacen), as of September/2024. Note 2: Total number of i
Slide 42: Non-IFRS measures: Revenue excl. Inter Pag
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 41 Non-IFRS measures and KPIs – Revenue Excl. Inter Pag (+) (-) (+) (=) 3Q24 3Q24 3Q24 3Q24 Total gross revenues (R$ millions) Inter&Co Inter Pag Eliminations Inter&Co Excl. Inter Pag Total gross revenues 2,684 55 9 2,638 Interest income 1,412 28 9 1
Slide 43: Non-IFRS measures: Total expenses excl. Inter Pag
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 42 Non-IFRS measures and KPIs – Total expenses excl. Inter Pag (+) (-) (+) (=) 3Q24 3Q24 3Q24 3Q24 Total expenses (R$ millions) Inter&Co Inter Pag Eliminations Inter&Co Excl. Inter Pag Total expenses 787 49 - 738 Personal expenses 259 21 - 238 Data p
Slide 44: Non-IFRS measures: Net revenues and expenses excl. Inter Pag
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 43 Non-IFRS measures and KPIs – Net revenues and expenses excl. Inter Pag (+) (-) (+) (=) 3Q24 3Q24 3Q24 3Q24 Inter&Co Inter Pag Eliminations Inter&Co Excl. Inter Pag Total net revenues 3Q24 (-) tax expenses 3Q24 1,553 42 9 1,520 Total net revenues 3
Slide 45: Non-IFRS measures: Efficiency ratio excl. Inter Pag
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 44 Non-IFRS measures and KPIs – Efficiency ratio excl. Inter Pag (+) (-) (+) (=) 3Q24 3Q24 3Q24 3Q24 Efficiency ratio (%) Inter&Co Inter Pag Eliminations Inter&Co Excl. Inter Pag Total operational expenses 787 49 - 738 Personnel expenses 259 21 - 238
Slide 46: Non-IFRS measures: Personnel efficiency ratio
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 45 Non-IFRS measures and KPIs – Personnel efficiency ratio excl. Inter Pag (+) (-) (+) (=) 3Q24 3Q24 3Q24 3Q24 Personnel efficiency ratio (%) Inter&Co Inter Pag Eliminations Inter&Co Excl. Inter Pag Personnel expenses 259 21 - 238 (÷) Total net reven
Slide 47: Non-IFRS measures: Administrative efficiency ratio
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 46 Non-IFRS measures and KPIs – Administrative efficiency ratio excl. Inter Pag (+) (-) (+) (=) 3Q24 3Q24 3Q24 3Q24 Administrative efficiency ratio (%) Inter&Co Inter Pag Eliminations Inter&Co Excl. Inter Pag Administrative expenses + D&A 528 28 - 50
Slide 48: Non-IFRS measures and KPIs glossary
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 47 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
Slide 49: Non-IFRS measures and KPIs glossary
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 48 Non-IFRS measures and KPIs 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
Slide 50: Non-IFRS measures and KPIs glossary
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 49 Non-IFRS measures and KPIs 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
Slide 51: Non-IFRS measures and KPIs glossary
E A R N I N G S P R E S E N T A T I O N | 3 Q 2 4 50 Non-IFRS measures and KPIs 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
Slide 52: Inter&Co | INTR Nasdaq Listed
sinter&co INTR | Nasdaq Listed
Slide 53: 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