O Inter & CO (INTR) reported net income of BRL 15.5 million in the second quarter of 2022, reversing the loss of BRL 30 million in the same period last year, shows a document sent to the market this Monday.
In all, the company reached 20.7 million customers, a jump of 73% compared to the same period last year.
The number of active customers added up to 10 million, a growth of 51%, while the cost of serving each one of them dropped 4.5%, to R$ 14. But the cost of acquiring a customer rose almost 18%, to R$ 32 .
Gross revenue reached R$ 1.5 billion, up 129%. Net service revenue totaled R$316 million, up 91.3%.
The efficiency ratio dropped 19.1 percentage points to 71.5%, while the Basel Ratio expanded by 13.3 percentage points.
“The quality of our revenues continues to improve significantly, being highly diversified across products and with stronger growth in service revenues,” said João Vitor Menin, CEO of Inter.
Return on equity was 0.8%, up 2.8 percentage points.
The company, which has a financial services platform linked to a marketplace, recorded an expansion of almost 28% in gross sales under the GMV concept, which reached R$990 million in the second quarter.
Inter credit cards
More than 6.4 million cards were used in the second quarter, 56% more than in 2Q21.
Transaction volume increased by 70% in the year, with credit cards showing strong average growth.
Card revenues, composed mainly of interchange, grew 84% and totaled R$ 179 million in 2Q22, “explained by our strong growth in volume transacted”, he said.
“We remain obsessed with building a differentiated card experience, based on technology and the best UX”, explained Ray Chalub, Director of Operations at Inter.
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
