Inter & Co. Chief Financial Officer Santiago Stel said the Brazilian digital bank's focus on disciplined, profitable growth is delivering results, with 2025 profits hitting a record and customer numbers rising to more than 44 million from 18 million at its 2022 NASDAQ listing. The company recently opened a U.S. banking branch in Miami, authorized by the Federal Reserve and the Florida Office of Financial Regulation, to serve Brazilian, Argentine and other international clients with remittances, cards, mortgages and brokerage access while lowering overall funding costs. Stel highlighted the 'Rule of 50' framework targeting combined annual revenue growth and return on equity of at least 50%, with a longer-term ROE goal of 28% to 30% by 2029, and noted that risk-adjusted net interest margin expanded from 3.9% to 5.9% despite a tougher macro backdrop. He pointed to a funding cost advantage at 64% of Brazil's benchmark CDI rate, a loan-to-deposit ratio near 80%, and funding of 74 billion reais in the first quarter of 2026, up 25% year-over-year, supported by a deposit franchise processing 8% of all Pix transactions in Brazil. Looking ahead, Stel said the bank will continue scaling its private payroll lending product, which reached a 2.5 billion-real portfolio and roughly 600,000 clients within about a year, and leverage its AI platform Seven, which helped lift the efficiency ratio to 43% in the first quarter with gross revenue per client of 57 reais against a cost-to-serve of just 13.1 reais.
Inter & Co. Inc. Class A Common SharesCustomer numbers rose to 44 million from 18 million, and private payroll lending portfolio grew to 2.5 billion reais with 600,000 clients.