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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Inter and Company Inc | NASDAQ:INTR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.26 | -4.10% | 6.08 | 5.86 | 6.31 | 6.25 | 5.91 | 6.25 | 1,700,564 | 23:02:21 |
Exhibit No. | Description of Exhibit | |||||||
99.1 | ||||||||
INTER & Co, INC. | |||||||||||
By: | /s/ Santiago Horacio Stel | ||||||||||
Name: | Santiago Horacio Stel | ||||||||||
Title: | Senior Vice President of Finance and Risks |
Unaudited interim condensed consolidated financial statements As of for the twelve-months period ended September 30, 2023 |
Contents | |||||||||||
Management report | |||||||||||
Report of the independent auditors on the condensed consolidated interim financial statements | |||||||||||
Revenues from services and commissions | |||||||||||
Other information | |||||||||||
Unaudited interim condensed consolidated financial statements As of for the twelve-months period ended September 30, 2023 |
Unaudited interim condensed consolidated financial statements As of for the twelve-months period ended September 30, 2023 |
Consolidated interim balance sheets As of September 30, 2023 and December 31, 2022 (Amounts in thousands of Brazilian reais) |
Note | 09/30/2023 | 12/31/2022 | |||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents | 8 | 4,297,078 | 1,331,648 | ||||||||||||||
Amounts due from financial institutions | 9 | 3,474,244 | 4,258,856 | ||||||||||||||
Compulsory deposits at Central Bank of Brazil | 2,190,872 | 2,854,778 | |||||||||||||||
Securities | 10 | 14,908,297 | 12,448,565 | ||||||||||||||
Derivative financial assets | 11 | 9,389 | — | ||||||||||||||
Loans and advances to customers, net of provisions for expected loss | 12 | 25,296,620 | 21,379,916 | ||||||||||||||
Non-current assets held for sale | 13 | 169,347 | 166,943 | ||||||||||||||
Equity accounted investees | 14 | 71,884 | 72,090 | ||||||||||||||
Property and equipment | 15 | 173,677 | 188,019 | ||||||||||||||
Intangible assets | 16 | 1,322,350 | 1,238,629 | ||||||||||||||
Deferred tax assets | 33.c | 1,071,248 | 978,148 | ||||||||||||||
Other assets | 17 | 2,093,833 | 1,425,508 | ||||||||||||||
Total assets | 55,078,840 | 46,343,100 | |||||||||||||||
Liabilities | |||||||||||||||||
Liabilities with financial and similar institutions | 18 | 9,418,245 | 7,906,897 | ||||||||||||||
Liabilities with customers | 19 | 29,063,988 | 23,642,804 | ||||||||||||||
Securities issued | 20 | 7,462,565 | 6,202,165 | ||||||||||||||
Derivative financial liabilities | 11 | 21,059 | 37,768 | ||||||||||||||
Borrowing and onlending | 21 | 87,649 | 36,448 | ||||||||||||||
Tax liabilities | 22 | 332,845 | 166,865 | ||||||||||||||
Provisions | 23 | 35,040 | 57,449 | ||||||||||||||
Deferred tax liabilities | 33.c | 28,895 | 30,073 | ||||||||||||||
Other liabilities | 24 | 1,260,329 | 1,173,527 | ||||||||||||||
Total liabilities | 47,710,613 | 39,253,996 | |||||||||||||||
Equity | |||||||||||||||||
Share capital | 25.a | 13 | 13 | ||||||||||||||
Reserves | 25.b. | 7,998,214 | 7,817,670 | ||||||||||||||
Other comprehensive income | 25.c | (729,442) | (825,301) | ||||||||||||||
Treasury shares | 25.g | (8,417) | — | ||||||||||||||
Equity attributable to owners of the Company | 7,260,368 | 6,992,382 | |||||||||||||||
Non-controlling interest | 25.f | 107,859 | 96,722 | ||||||||||||||
Total equity | 7,368,227 | 7,089,104 | |||||||||||||||
Total liabilities and equity | 55,078,840 | 46,343,100 |
Consolidated interim income statements For the quarters ended September 30, 2023 and 2022 (Amounts in thousands of Brazilian reais) |
Three-month period | Nine-month period | ||||||||||||||||||||||||||||
Note | 09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | |||||||||||||||||||||||||
Interest income | 26 | 1,106,935 | 788,343 | 3,270,967 | 1,931,815 | ||||||||||||||||||||||||
Interest expenses | 26 | (770,398) | (579,678) | (2,135,375) | (1,381,490) | ||||||||||||||||||||||||
Income from securities and derivatives | 27 | 482,020 | 346,923 | 1,196,602 | 1,109,761 | ||||||||||||||||||||||||
Net interest income | 818,557 | 555,588 | 2,332,193 | 1,660,086 | |||||||||||||||||||||||||
Revenues from services and commissions | 28 | 347,780 | 248,862 | 928,657 | 693,596 | ||||||||||||||||||||||||
Expenses from services and commissions | (32,271) | (31,833) | (99,672) | (94,303) | |||||||||||||||||||||||||
Other revenues | 29 | 131,430 | 77,687 | 278,465 | 301,466 | ||||||||||||||||||||||||
Revenues | 1,265,496 | 850,304 | 3,439,643 | 2,560,845 | |||||||||||||||||||||||||
Impairment losses on financial assets | 30 | (407,899) | (263,113) | (1,157,140) | (818,523) | ||||||||||||||||||||||||
Net result of losses | 857,597 | 587,191 | 2,282,504 | 1,742,322 | |||||||||||||||||||||||||
Other administrative expenses | 31 | (362,877) | (379,946) | (1,096,360) | (1,105,370) | ||||||||||||||||||||||||
Personnel expenses | 32 | (210,661) | (176,232) | (569,322) | (493,818) | ||||||||||||||||||||||||
Tax expenses | (94,072) | (61,544) | (235,406) | (179,837) | |||||||||||||||||||||||||
Depreciation and amortization | (40,561) | (35,620) | (119,268) | (107,609) | |||||||||||||||||||||||||
Income from equity interests in associates | 14 | (4,071) | (3,892) | (30,597) | (13,954) | ||||||||||||||||||||||||
Profit / (loss) before income tax | 145,354 | (70,043) | 231,550 | (158,266) | |||||||||||||||||||||||||
Income tax | 33 | (41,194) | 40,448 | (39,002) | 115,374 | ||||||||||||||||||||||||
Profit / (loss) for the period | 104,161 | (29,595) | 192,549 | (42,892) | |||||||||||||||||||||||||
Profit (loss) attributable to: | |||||||||||||||||||||||||||||
Owners of the Company | 91,291 | (30,008) | 151,442 | (43,326) | |||||||||||||||||||||||||
Non-controlling interest | 12,870 | 413 | 41,107 | 434 | |||||||||||||||||||||||||
Earnings (loss) per share (in Brazilian Reais – BRL) | |||||||||||||||||||||||||||||
Basic earnings (loss) per share | 25.e | 0.2272 | (0.0744) | 0.3769 | (0.1074) | ||||||||||||||||||||||||
Diluted earnings (loss) per share | 25.e | 0.2263 | (0.0744) | 0.3753 | (0.1074) |
Consolidated interim statements of comprehensive income For the quarters ended September 30, 2023 and 2022 (Amounts in thousands of Brazilian reais) |
Three-month period | Nine-month period | ||||||||||||||||||||||
09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | ||||||||||||||||||||
Profit (loss) for the three-month period | 104,161 | (29,595) | 192,549 | (42,892) | |||||||||||||||||||
Fair value of financial assets | (98,003) | 94,465 | 177,437 | (139,394) | |||||||||||||||||||
Related tax - financial assets | 44,100 | (59,715) | (79,848) | 62,233 | |||||||||||||||||||
Financial assets at fair value through other comprehensive income | (53,903) | 34,750 | 97,589 | (77,161) | |||||||||||||||||||
Hedge of net investments in operations abroad | (4,351) | (1,860) | 6,717 | (8,692) | |||||||||||||||||||
Fair value change | (7,909) | (1,860) | 6,841 | (8,692) | |||||||||||||||||||
Tax effect | 3,558 | — | (124) | — | |||||||||||||||||||
Current translation adjustment in foreign entities | 11,039 | 1,860 | (8,468) | (1,979) | |||||||||||||||||||
Effects of corporate reorganization on non-controlling interest without change in control | — | (51,955) | — | (665,673) | |||||||||||||||||||
Others | (3) | — | 21 | — | |||||||||||||||||||
Total other comprehensive income that may be reclassified subsequently to the income statement | (47,218) | (17,205) | 95,859 | (753,505) | |||||||||||||||||||
Total comprehensive income for the quarters | 56,943 | (46,800) | 288,408 | (796,397) | |||||||||||||||||||
Allocation of comprehensive income | |||||||||||||||||||||||
To owners of the company | 44,073 | (47,213) | 247,301 | (796,831) | |||||||||||||||||||
To non-controlling interest | 12,870 | 413 | 41,107 | 434 |
Consolidated interim statements of cash flows For the quarters ended September 30, 2023 and 2022 (Amounts in thousands of Brazilian reais) |
09/30/2023 | 09/30/2022 | |||||||||||||
Operating activities | ||||||||||||||
Profit (loss) for the period | 192,549 | (42,892) | ||||||||||||
Adjustments to profit (loss) | ||||||||||||||
Depreciation and amortization | 119,268 | 107,609 | ||||||||||||
Result of equity interests in associates | 30,597 | 13,954 | ||||||||||||
Impairment losses on financial assets | 1,157,140 | 818,523 | ||||||||||||
Expenses with provisions | 27,104 | 20,218 | ||||||||||||
Income tax and social contribution | 39,002 | (115,374) | ||||||||||||
Provisions/ (reversals) for deferred assets | (20,646) | 23,363 | ||||||||||||
Other capital gains (losses) | (34,428) | (63,565) | ||||||||||||
Provision for performance income | (104,840) | (123,702) | ||||||||||||
Result of foreign exchange variation | (67,769) | (73,733) | ||||||||||||
(Increase)/ decrease in: | ||||||||||||||
Compulsory deposits at Central Bank of Brazil | 663,906 | (286,755) | ||||||||||||
Loans and advances to customers | (5,073,844) | (4,103,996) | ||||||||||||
Amounts due from financial institutions | 784,612 | (1,365,638) | ||||||||||||
Securities | 443,693 | (619,343) | ||||||||||||
Derivative financial assets | (9,389) | 86,367 | ||||||||||||
Non-current assets held for sale | (2,404) | (35,910) | ||||||||||||
Other assets | (424,299) | (119,103) | ||||||||||||
Increase/ (decrease) in: | ||||||||||||||
Liabilities with financial institutions | 1,511,348 | 2,008,000 | ||||||||||||
Liabilities with customers | 5,421,184 | 3,118,483 | ||||||||||||
Securities issued | 1,260,400 | 3,344,826 | ||||||||||||
Derivative financial liabilities | (16,709) | (26,198) | ||||||||||||
Borrowing and onlending | 50,394 | 8,048 | ||||||||||||
Tax liabilities | 130,813 | 26,197 | ||||||||||||
Provisions | (49,513) | (13,846) | ||||||||||||
Other liabilities | 112,545 | (335,226) | ||||||||||||
Income tax paid | (180,795) | (47,305) | ||||||||||||
Net cash from operating activities | 5,959,919 | 2,203,002 | ||||||||||||
Cash flow from investing activities | ||||||||||||||
Capital increase in subsidiary | 11,564 | — | ||||||||||||
Acquisition of investments, net of cash acquired | (14,426) | (545,983) | ||||||||||||
Acquisition of property and equipment | (12,974) | (33,940) | ||||||||||||
Proceeds from sale of property and equipment | — | 1,516 | ||||||||||||
Net acquisition of property and equipment from subsidiaries | — | 610 | ||||||||||||
Acquisition of intangible assets | (194,228) | (108,813) | ||||||||||||
Acquisition of financial assets at FVOCI | (15,747,029) | (7,306,475) | ||||||||||||
Proceeds from sale of financial assets at FVOCI | 12,801,310 | 7,663,646 | ||||||||||||
Acquisition of financial assets at FVTPL | (590,236) | (530,160) | ||||||||||||
Proceeds from sale of financial assets at FVTPL | 730,119 | 99,393 | ||||||||||||
Net cash used in investing activities | (3,015,900) | (760,206) | ||||||||||||
Cash flow from financing activities | ||||||||||||||
Dividends and interest on shareholders' equity paid | (19,704) | — | ||||||||||||
Repurchase of treasury shares | (16,409) | — | ||||||||||||
Resources from non-controlling interest, including capital increase | (10,245) | (1,178,665) | ||||||||||||
Net cash from financing activities | (46,358) | (1,178,665) | ||||||||||||
(Decrease)/ Increase in cash and cash equivalents | 2,897,661 | 264,131 | ||||||||||||
Cash and cash equivalents at the beginning of the period | 1,331,648 | 500,446 | ||||||||||||
Effect of the exchange rate variation on cash and cash equivalents | 67,769 | 73,733 | ||||||||||||
Cash and cash equivalents at September 30 | 4,297,078 | 838,310 |
Consolidated interim statements of changes in equity For the quarters ended September 30, 2023 and 2022 (Amounts in thousands of Brazilian reais) |
Share capital | Reserves | Other comprehensive income | Retained earnings / accumulated losses | Treasury shares | Equity attributable to owners of the Company | Non-controlling interest | Total equity | |||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2022 - Inter & Co, Inc. | 13 | 2,728,396 | (72,284) | — | — | 2,656,125 | 5,793,659 | 8,449,784 | ||||||||||||||||||||||||||||||||||||||||||
Profit (loss) for the three-month period | — | — | — | (43,326) | — | (43,326) | 434 | (42,892) | ||||||||||||||||||||||||||||||||||||||||||
Proposed allocations: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Constitution/ reversion of reserves | — | (43,326) | — | 43,326 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Net change in fair value - financial assets at FVTOCI | — | — | (77,161) | — | — | (77,161) | — | (77,161) | ||||||||||||||||||||||||||||||||||||||||||
Share-based payment transactions | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Exchange rate change adjustment | — | — | (1,979) | — | — | (1,979) | — | (1,979) | ||||||||||||||||||||||||||||||||||||||||||
Gains and losses - Hedge | — | — | (8,692) | — | — | (8,692) | — | (8,692) | ||||||||||||||||||||||||||||||||||||||||||
Resources from non-controlling interest, including capital decrease | — | 5,185,116 | (665,673) | — | — | 4,519,443 | (5,698,108) | (1,178,665) | ||||||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2022 - Inter & Co, Inc. | 13 | 7,870,186 | (825,789) | — | — | 7,044,410 | 95,985 | 7,140,395 | ||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2023 - Inter & Co, Inc. | 13 | 7,817,670 | (825,301) | — | — | 6,992,382 | 96,722 | 7,089,104 | ||||||||||||||||||||||||||||||||||||||||||
Profit (loss) for the period | — | — | — | 151,442 | — | 151,442 | 41,107 | 192,549 | ||||||||||||||||||||||||||||||||||||||||||
Proposed allocations: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Constitution/ reversion of reserves | — | 151,442 | — | (151,442) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Interest on equity / dividends | — | — | — | — | — | — | (19,704) | (19,704) | ||||||||||||||||||||||||||||||||||||||||||
Exchange rate change adjustment | — | — | (8,468) | — | — | (8,468) | — | (8,468) | ||||||||||||||||||||||||||||||||||||||||||
Gains and losses - Hedge | — | — | 6,717 | — | — | 6,717 | — | 6,717 | ||||||||||||||||||||||||||||||||||||||||||
Net change in fair value - financial assets at FVOCI | — | — | 97,589 | — | — | 97,589 | — | 97,589 | ||||||||||||||||||||||||||||||||||||||||||
Share-based payment transactions | — | (7,992) | — | — | 7,992 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Reflex reserve | — | 37,094 | — | — | — | 37,094 | — | 37,094 | ||||||||||||||||||||||||||||||||||||||||||
(-) Repurchase of treasury shares | — | — | — | — | (16,409) | (16,409) | — | (16,409) | ||||||||||||||||||||||||||||||||||||||||||
Others | — | — | 21 | — | — | 21 | (10,266) | (10,245) | ||||||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2023 - Inter & Co, Inc. | 13 | 7,998,214 | (729,442) | — | (8,417) | 7,260,368 | 107,859 | 7,368,227 |
Consolidated interim statements of added value For the quarters ended September 30, 2023 and 2022 (Amounts in thousands of Brazilian reais) |
Three-month period | Nine-month period | ||||||||||||||||||||||||||||
Note | 09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | |||||||||||||||||||||||||
Revenues | 1,627,995 | 1,166,869 | 4,417,879 | 3,123,812 | |||||||||||||||||||||||||
Interest income | 1,588,955 | 1,135,266 | 4,467,569 | 3,041,576 | |||||||||||||||||||||||||
Provision of services, net | 315,509 | 217,029 | 828,985 | 599,293 | |||||||||||||||||||||||||
Impairment losses on financial assets | 30 | (407,899) | (263,113) | (1,157,140) | (818,523) | ||||||||||||||||||||||||
Other revenues | 29 | 131,430 | 77,687 | 278,465 | 301,466 | ||||||||||||||||||||||||
Expenses | (770,398) | (579,678) | (2,135,375) | (1,381,490) | |||||||||||||||||||||||||
Interest | 26 | (770,398) | (579,678) | (2,135,375) | (1,381,490) | ||||||||||||||||||||||||
Input from third parties | (350,459) | (366,190) | (1,059,587) | (1,070,660) | |||||||||||||||||||||||||
Materials, energy and others | (66,823) | (78,694) | (195,359) | (308,371) | |||||||||||||||||||||||||
Third-party services | (70,414) | (73,945) | (201,122) | (146,032) | |||||||||||||||||||||||||
Telecommunications and data processing | (190,301) | (190,128) | (599,043) | (518,014) | |||||||||||||||||||||||||
Publicity and advertising | (22,921) | (23,423) | (64,063) | (98,243) | |||||||||||||||||||||||||
Gross added value | 507,138 | 221,001 | 1,222,917 | 671,662 | |||||||||||||||||||||||||
Deduction | (40,561) | (35,620) | (119,268) | (107,609) | |||||||||||||||||||||||||
Depreciation and amortization | (40,561) | (35,620) | (119,268) | (107,609) | |||||||||||||||||||||||||
Net added value produced by the company | 466,577 | 185,381 | 1,103,649 | 564,053 | |||||||||||||||||||||||||
Added value received in transfer | (4,071) | (3,892) | (30,597) | (13,954) | |||||||||||||||||||||||||
Income from equity interests in affiliates | 14 | (4,071) | (3,892) | (30,597) | (13,954) | ||||||||||||||||||||||||
Total added value to distribute | 462,506 | 181,489 | 1,073,052 | 550,099 | |||||||||||||||||||||||||
Distribution of added value | 462,506 | 181,489 | 1,073,052 | 550,099 | |||||||||||||||||||||||||
Personnel and tax | 189,069 | 151,494 | 502,578 | 425,940 | |||||||||||||||||||||||||
Remuneration | 100,174 | 105,337 | 314,692 | 296,921 | |||||||||||||||||||||||||
Benefits | 82,648 | 39,492 | 168,988 | 110,018 | |||||||||||||||||||||||||
FGTS | 6,247 | 6,665 | 18,898 | 19,001 | |||||||||||||||||||||||||
Taxes, contributions and fees | 156,878 | 48,241 | 341,153 | 134,457 | |||||||||||||||||||||||||
Federal | 144,037 | 36,422 | 304,917 | 102,231 | |||||||||||||||||||||||||
Municipal | 12,307 | 11,196 | 35,006 | 30,900 | |||||||||||||||||||||||||
State | 534 | 623 | 1,230 | 1,326 | |||||||||||||||||||||||||
Rent | 12,398 | 11,349 | 36,772 | 32,594 | |||||||||||||||||||||||||
Profit (losses) retained/reversed in the period | 91,291 | (30,008) | 151,442 | (43,326) | |||||||||||||||||||||||||
Non-controlling interest | 12,870 | 413 | 41,107 | 434 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Entity | Branch of Activity | Common shares and/or quotas | Functional currency | Country | Share in the capital (%) | |||||||||||||||||||||||||||||||||
09/30/2023 | 12/31/2022 | |||||||||||||||||||||||||||||||||||||
Direct subsidiaries | ||||||||||||||||||||||||||||||||||||||
Inter&Co Securities LLC | Holding Company | — | US$ | USA | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
Inter&Co Participações Ltda. | Holding Company | 1,500,000 | BRL | Brazil | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
INTRGLOBALEU Serviços Administrativos, LDA | Holding Company | — | EUR | Portugal | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
Inter US Holding, LLC (c) | Holding Company | 50,000 | US$ | USA | 100.00 | % | — | |||||||||||||||||||||||||||||||
Inter Holding Financeira S.A. | Holding | 401,159,540 | BRL | Brasil | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
Entity | Branch of Activity | Common shares and/or quotas | Functional currency | Country | Share in the capital (%) | |||||||||||||||||||||||||||||||||
09/30/2023 | 12/31/2022 | |||||||||||||||||||||||||||||||||||||
Indirect subsidiaries | ||||||||||||||||||||||||||||||||||||||
Inter Holding Financeira S.A. | Holding Company | 401,159,540 | BRL | Brazil | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
Banco Inter S.A. | Multiple Bank | 1,297,308,713 | BRL | Brazil | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
Inter Distribuidora de Títulos e Valores Mobiliários Ltda. (a) | TVM Distributor | 25,000,000 | BRL | Brazil | 100.00 | % | 98.30 | % | ||||||||||||||||||||||||||||||
Inter Digital Corretora e Consultoria de Seguros Ltda. | Insurance broker | 59,750 | BRL | Brazil | 60.00 | % | 60.00 | % | ||||||||||||||||||||||||||||||
Inter Marketplace Ltda. | Marketplace | 5,000,000 | BRL | Brazil | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
Inter Asset Holding S.A. | Asset management | 7,000,000 | BRL | Brazil | 70.00 | % | 70.00 | % | ||||||||||||||||||||||||||||||
Inter Titulos Fundo de Investimento | Investment Fund | 489,302 | BRL | Brazil | 98.30 | % | 98.30 | % | ||||||||||||||||||||||||||||||
BMA Inter Fundo De Investimento Em Direitos Creditórios Multissetorial | Investment Fund | 5,000,000 | BRL | Brazil | 86.46 | % | 90.70 | % | ||||||||||||||||||||||||||||||
TBI Fundo De Investimento Renda Fixa Credito Privado | Investment Fund | 388,157,511 | BRL | Brazil | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
TBI Fundo De Investimento Crédito Privado Investimento Exterior | Investment Fund | 443,689,064 | BRL | Brazil | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
IG 30 Fundo de Investimento Renda Fixa Crédito Privado | Investment Fund | 144,796,772 | BRL | Brazil | 100.00 | % | — | % | ||||||||||||||||||||||||||||||
Inter Simples Fundo de Investimento em Direitos Creditórios Multissetorial | Investment Fund | 6,147 | BRL | Brazil | 86.80 | % | — | % | ||||||||||||||||||||||||||||||
IM Designs Desenvolvimento de Software Ltda. | Provision of services | 50,000,000 | BRL | Brazil | 50.00 | % | 50.00 | % | ||||||||||||||||||||||||||||||
Acerto Cobrança e Informações Cadastrais S.A. | Provision of services | 60,000,000,000 | BRL | Brazil | 60.00 | % | 60.00 | % | ||||||||||||||||||||||||||||||
Inter & Co Payments, Inc | Provision of services | 16,000,000 | US$ | USA | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
Inter Asset Gestão de Recursos Ltda | Asset management | 30,680 | BRL | Brazil | 70.00 | % | 70.00 | % | ||||||||||||||||||||||||||||||
Inter Café Ltda. | Provision of services | 10,000 | BRL | Brazil | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
Inter Boutiques Ltda. | Provision of services | 10,000 | BRL | Brazil | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
Inter Food Ltda. | Provision of services | 7,000,000 | BRL | Brazil | 70.00 | % | 70.00 | % | ||||||||||||||||||||||||||||||
Inter Viagens e Entretenimento Ltda. | Provision of services | 1,000 | BRL | Brazil | 100.00 | % | 100.00 | % | ||||||||||||||||||||||||||||||
Inter Conectividade Ltda. (b) | Provision of services | 33,533,805 | BRL | Brazil | 100.00 | % | — | |||||||||||||||||||||||||||||||
Inter US Management LLC (c) | Provision of services | 100,000 | US$ | USA | 100.00 | % | — | |||||||||||||||||||||||||||||||
Inter US Finance LLC (c) | Provision of services | 100,000 | US$ | USA | 100.00 | % | — |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
In thousands of Brazilian reais | Inter US Finance, LLC | Inter US Management, LLC | ||||||||||||
Cash | 1,990 | 939 | ||||||||||||
Share based compensation | — | 388 | ||||||||||||
Total consideration transferred | 1,990 | 1,327 |
In thousands of Brazilian reais | Inter US Finance, LLC | Inter US Management, LLC | ||||||||||||
Assets | 879 | 238 | ||||||||||||
Cash and cash equivalents | 860 | 3 | ||||||||||||
Other assets | 19 | 235 | ||||||||||||
Liabilities | (807) | (25) | ||||||||||||
Borrowing and onlending | (807) | — | ||||||||||||
Other liabilities | — | (25) | ||||||||||||
Total net identifiable assets at fair value | 72 | 213 | ||||||||||||
Goodwill on acquisition (a) | 1,918 | 1,114 | ||||||||||||
Total consideration transferred | 1,990 | 1,327 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2023 | |||||||||||||||||||||||||||||||||||
Banking & Spending | Investments | Insurance Brokerage | Inter Shop & Commerce Plus | Others | Consolidated | ||||||||||||||||||||||||||||||
Interest income | 3,257,024 | 14,857 | — | 25,217 | (26,131) | 3,270,967 | |||||||||||||||||||||||||||||
Interest expenses | (2,131,885) | (28,381) | — | — | 24,891 | (2,135,375) | |||||||||||||||||||||||||||||
Income from securities and derivatives | 1,142,562 | 33,045 | 1,513 | 23,849 | (4,367) | 1,196,602 | |||||||||||||||||||||||||||||
Net interest income | 2,267,701 | 19,521 | 1,513 | 49,066 | (5,607) | 2,332,193 | |||||||||||||||||||||||||||||
Revenues from services and commissions | 643,107 | 66,496 | 87,090 | 125,969 | 5,995 | 928,657 | |||||||||||||||||||||||||||||
Expenses from services and commissions | (99,496) | (155) | — | (2) | (19) | (99,672) | |||||||||||||||||||||||||||||
Other revenues | 326,484 | 12,694 | 37,349 | 21,986 | (120,048) | 278,465 | |||||||||||||||||||||||||||||
Revenues | 3,137,796 | 98,556 | 125,952 | 197,019 | (119,679) | 3,439,643 | |||||||||||||||||||||||||||||
Impairment losses on financial assets | (1,151,127) | — | — | (6,013) | — | (1,157,140) | |||||||||||||||||||||||||||||
Net result of losses | 1,986,669 | 98,556 | 125,952 | 191,006 | (119,679) | 2,282,504 | |||||||||||||||||||||||||||||
Other administrative expenses | (956,943) | (51,138) | (33,610) | (44,364) | (10,305) | (1,096,360) | |||||||||||||||||||||||||||||
Personnel expenses | (469,772) | (49,314) | (13,238) | (26,700) | (10,298) | (569,322) | |||||||||||||||||||||||||||||
Tax expenses | (176,365) | (8,305) | (11,596) | (25,468) | (13,672) | (235,406) | |||||||||||||||||||||||||||||
Depreciation and amortization | (108,752) | (3,012) | (626) | (6,732) | (146) | (119,268) | |||||||||||||||||||||||||||||
Income from equity interests in associates | (30,597) | — | — | — | — | (30,597) | |||||||||||||||||||||||||||||
Profit / (loss) before income tax | 244,240 | (13,213) | 66,882 | 87,742 | (154,100) | 231,550 | |||||||||||||||||||||||||||||
Income tax | 14,746 | 7,194 | (22,723) | (36,202) | (2,017) | (39,002) | |||||||||||||||||||||||||||||
Profit / (loss) for the period | 258,986 | (6,019) | 44,159 | 51,540 | (156,117) | 192,549 | |||||||||||||||||||||||||||||
Total assets | 54,572,478 | 639,017 | 193,302 | 439,042 | (764,999) | 55,078,840 | |||||||||||||||||||||||||||||
Total liabilities | 47,664,585 | 401,384 | 93,542 | 194,260 | (643,158) | 47,710,613 | |||||||||||||||||||||||||||||
Total equity | 6,907,893 | 237,633 | 99,760 | 244,782 | (121,841) | 7,368,227 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2022 | |||||||||||||||||||||||||||||||||||
Banking & Spending | Investments | Insurance Brokerage | Inter Shop & Commerce Plus | Others | Consolidated | ||||||||||||||||||||||||||||||
Interest income | 1,940,819 | 3,101 | 25 | 4 | (12,134) | 1,931,815 | |||||||||||||||||||||||||||||
Interest expenses | (1,327,920) | (12,181) | (67) | — | (41,322) | (1,381,490) | |||||||||||||||||||||||||||||
Income from securities and derivatives | 1,181,401 | 18,103 | 977 | 10,108 | (100,828) | 1,109,761 | |||||||||||||||||||||||||||||
Net interest income | 1,794,300 | 9,023 | 935 | 10,112 | (154,284) | 1,660,086 | |||||||||||||||||||||||||||||
Revenues from services and commissions | 342,265 | 70,945 | 56,424 | 218,661 | 5,301 | 693,596 | |||||||||||||||||||||||||||||
Expenses from services and commissions | (95,871) | — | — | (4) | 1,572 | (94,303) | |||||||||||||||||||||||||||||
Other revenues | 379,648 | 21,670 | 38,394 | 43,106 | (181,352) | 301,466 | |||||||||||||||||||||||||||||
Revenues | 2,420,342 | 101,638 | 95,753 | 271,875 | (328,763) | 2,560,845 | |||||||||||||||||||||||||||||
Impairment losses on financial assets | (819,378) | 855 | — | — | — | (818,523) | |||||||||||||||||||||||||||||
Net result of losses | 1,600,964 | 102,493 | 95,753 | 271,875 | (328,763) | 1,742,322 | |||||||||||||||||||||||||||||
Other administrative expenses | (1,045,286) | (29,067) | (6,659) | (20,423) | (3,935) | (1,105,370) | |||||||||||||||||||||||||||||
Personnel expenses | (458,927) | (11,766) | (5,542) | (13,678) | (3,905) | (493,818) | |||||||||||||||||||||||||||||
Tax expenses | (130,450) | (7,081) | (10,018) | (31,722) | (566) | (179,837) | |||||||||||||||||||||||||||||
Depreciation and amortization | (101,857) | (2,041) | (447) | (3,176) | (88) | (107,609) | |||||||||||||||||||||||||||||
Income from equity interests in associates | (13,954) | — | — | — | — | (13,954) | |||||||||||||||||||||||||||||
Profit / (loss) before income tax | (149,510) | 52,538 | 73,087 | 202,876 | (337,257) | (158,266) | |||||||||||||||||||||||||||||
Income tax | 191,091 | (17,116) | (24,615) | (47,434) | 13,448 | 115,374 | |||||||||||||||||||||||||||||
Profit / (loss) for the period | 41,581 | 35,422 | 48,472 | 155,442 | (323,809) | (42,892) | |||||||||||||||||||||||||||||
Total assets | 47,516,376 | 464,654 | 148,411 | 490,752 | (2,277,093) | 46,343,100 | |||||||||||||||||||||||||||||
Total liabilities | 39,356,904 | 380,246 | 93,001 | 183,568 | (759,723) | 39,253,996 | |||||||||||||||||||||||||||||
Total equity | 8,159,472 | 84,408 | 55,410 | 307,184 | (1,517,370) | 7,089,104 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2023 | 12/31/2022 | ||||||||||
Lower than 30% | 761,440 | 693,322 | |||||||||
31 - 50% | 1,822,041 | 1,689,190 | |||||||||
51 - 70% | 2,750,187 | 2,308,020 | |||||||||
71 - 90% | 2,143,947 | 1,503,703 | |||||||||
Higher than 90% | 50,195 | 57,577 | |||||||||
7,527,810 | 6,251,812 |
09/30/2023 | |||||||||||||||||||||||||||||
Note | Up to 3 months | 3 months Up to 1 year | Above 1 year | Total | |||||||||||||||||||||||||
Financial assets | |||||||||||||||||||||||||||||
Cash and cash equivalents | 4,297,078 | — | — | 4,297,078 | |||||||||||||||||||||||||
Amounts due from financial institutions | 3,474,244 | — | — | 3,474,244 | |||||||||||||||||||||||||
Compulsory deposits at Central Bank of Brazil | 2,190,872 | — | — | 2,190,872 | |||||||||||||||||||||||||
Securities | 478,410 | 172,499 | 14,257,388 | 14,908,297 | |||||||||||||||||||||||||
Derivative financial assets | 9,389 | — | — | 9,389 | |||||||||||||||||||||||||
Loans and advances to customers | 12.e | 6,965,993 | 6,910,440 | 13,167,168 | 27,043,601 | ||||||||||||||||||||||||
Other assets | — | — | 107,977 | 107,977 | |||||||||||||||||||||||||
Total | 17,415,986 | 7,082,939 | 27,532,533 | 52,031,458 | |||||||||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||||||
Liabilities with financial and similar institutions | 9,418,245 | — | — | 9,418,245 | |||||||||||||||||||||||||
Liabilities with customers | 14,488,579 | 2,221,181 | 12,354,228 | 29,063,988 | |||||||||||||||||||||||||
Securities issued | 1,260,814 | 2,447,535 | 3,754,216 | 7,462,565 | |||||||||||||||||||||||||
Derivative financial liabilities | 7,466 | 5,416 | 8,177 | 21,059 | |||||||||||||||||||||||||
Borrowing and onlending | 10,945 | 58,025 | 18,679 | 87,649 | |||||||||||||||||||||||||
Total | 25,186,049 | 4,732,157 | 16,135,300 | 46,053,506 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
12/31/2022 | |||||||||||||||||||||||||||||
Note | Up to 3 months | 3 months Up to 1 year | Above 1 year | Total | |||||||||||||||||||||||||
Financial assets | |||||||||||||||||||||||||||||
Cash and cash equivalents | 1,331,648 | — | — | 1,331,648 | |||||||||||||||||||||||||
Amounts due from financial institutions | 4,258,856 | — | — | 4,258,856 | |||||||||||||||||||||||||
Compulsory deposits at Central Bank of Brazil | 2,854,778 | — | — | 2,854,778 | |||||||||||||||||||||||||
Securities | 666,788 | 272,489 | 11,509,288 | 12,448,565 | |||||||||||||||||||||||||
Loans and advances to customers | 12.e | 6,199,963 | 5,916,020 | 10,582,345 | 22,698,328 | ||||||||||||||||||||||||
Other assets | — | — | 87,318 | 87,318 | |||||||||||||||||||||||||
Total | 15,312,033 | 6,188,509 | 22,178,951 | 43,679,493 | |||||||||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||||||
Liabilities with financial and similar institutions | 7,906,897 | — | — | 7,906,897 | |||||||||||||||||||||||||
Liabilities with customers | 14,873,030 | 849,420 | 7,920,354 | 23,642,804 | |||||||||||||||||||||||||
Securities issued | 1,149,070 | 421,032 | 4,632,063 | 6,202,165 | |||||||||||||||||||||||||
Derivative financial instruments | — | — | 37,768 | 37,768 | |||||||||||||||||||||||||
Borrowing and onlending | 4,987 | 4,138 | 27,323 | 36,448 | |||||||||||||||||||||||||
Total | 23,933,984 | 1,274,590 | 12,617,508 | 37,826,082 | |||||||||||||||||||||||||
09/30/2023 | ||||||||||||||||||||
Note | Current | Non-current | Total | |||||||||||||||||
Assets | ||||||||||||||||||||
Cash and cash equivalents | 8 | 4,297,078 | — | 4,297,078 | ||||||||||||||||
Amounts due from financial institutions | 9 | 3,474,244 | — | 3,474,244 | ||||||||||||||||
Compulsory deposits at Central Bank of Brazil | 2,190,872 | — | 2,190,872 | |||||||||||||||||
Securities | 10 | 650,909 | 14,257,388 | 14,908,297 | ||||||||||||||||
Derivative financial assets | 11 | 9,389 | — | 9,389 | ||||||||||||||||
Loans and advances to customers, net of provisions for expected loss | 12 | 12,277,314 | 13,019,306 | 25,296,620 | ||||||||||||||||
Other assets | 17 | — | 107,977 | 107,977 | ||||||||||||||||
Total | 22,899,806 | 27,384,671 | 50,284,477 | |||||||||||||||||
Liabilities | ||||||||||||||||||||
Liabilities with financial institutions | 18 | 9,418,245 | — | 9,418,245 | ||||||||||||||||
Liabilities with customers | 19 | 16,709,760 | 12,354,228 | 29,063,988 | ||||||||||||||||
Securities issued | 20 | 3,708,349 | 3,754,216 | 7,462,565 | ||||||||||||||||
Derivative financial liabilities | 11 | 12,882 | 8,177 | 21,059 | ||||||||||||||||
Borrowing and onlending | 21 | 68,970 | 18,679 | 87,649 | ||||||||||||||||
Total | 29,918,206 | 16,135,300 | 46,053,506 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
12/31/2022 | ||||||||||||||||||||
Note | Current | Non-current | Total | |||||||||||||||||
Assets | ||||||||||||||||||||
Cash and cash equivalents | 8 | 1,331,648 | — | 1,331,648 | ||||||||||||||||
Amounts due from financial institutions | 9 | 4,258,856 | — | 4,258,856 | ||||||||||||||||
Compulsory deposits at Central Bank of Brazil | 2,854,778 | — | 2,854,778 | |||||||||||||||||
Securities | 10 | 939,277 | 11,509,288 | 12,448,565 | ||||||||||||||||
Loans and advances to customers, net of provisions for expected loss | 12 | 11,159,852 | 10,220,064 | 21,379,916 | ||||||||||||||||
Other assets | 17 | — | 87,318 | 87,318 | ||||||||||||||||
Total | 20,544,411 | 21,816,670 | 42,361,081 | |||||||||||||||||
Liabilities | ||||||||||||||||||||
Liabilities with financial institutions | 18 | 7,906,897 | — | 7,906,897 | ||||||||||||||||
Liabilities with customers | 19 | 15,722,450 | 7,920,354 | 23,642,804 | ||||||||||||||||
Securities issued | 20 | 1,570,102 | 4,632,063 | 6,202,165 | ||||||||||||||||
Derivative financial liabilities | 11 | — | 37,768 | 37,768 | ||||||||||||||||
Borrowing and onlending | 21 | 9,126 | 27,322 | 36,448 | ||||||||||||||||
Total | 25,208,575 | 12,617,507 | 37,826,082 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
R$ thousand | 09/30/2023 | 12/31/2022 | ||||||||||||
Risk factor | ||||||||||||||
Price index coupons | 4,827 | 4,133 | ||||||||||||
Pre fixed interest rate | 40 | 541 | ||||||||||||
Foreign currency coupons | 93 | 883 | ||||||||||||
Foreign currencies | 4,298 | 624 | ||||||||||||
Share price | — | 528 | ||||||||||||
Subtotal | 9,258 | 6,709 | ||||||||||||
Diversification effects (correlation) | 3,076 | 1,958 | ||||||||||||
Value-at-Risk | 6,182 | 4,751 |
R$ thousand | 09/30/2023 | 12/31/2022 | ||||||||||||
Risk factor | ||||||||||||||
Price index coupons | 496,644 | 234,172 | ||||||||||||
Interest rate coupons | 41,287 | 77,448 | ||||||||||||
Pre fixed interest rate | 21,717 | 55,003 | ||||||||||||
Others | 13,697 | 1,398 | ||||||||||||
Subtotal | 573,345 | 368,021 | ||||||||||||
Diversification effects (correlation) | 53,467 | 30,767 | ||||||||||||
Value-at-Risk | 519,878 | 337,254 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Exposures - R$ thousand | ||||||||||||||||||||||||||||||||||||||
Banking and Trading book | Scenarios | 09/30/2023 | ||||||||||||||||||||||||||||||||||||
Risk factor | Rate variation in scenario 1 | Scenario I | Rate variation in scenario 2 | Scenario II | Rate variation in scenario 3 | Scenario III | ||||||||||||||||||||||||||||||||
IPCA coupon | increase | (4,046) | increase | (512,831) | increase | (955,548) | ||||||||||||||||||||||||||||||||
IGP-M coupon | increase | (17) | increase | (2,003) | increase | (3,848) | ||||||||||||||||||||||||||||||||
Pre-fixed rate | increase | (1,671) | increase | (439,281) | increase | (837,480) | ||||||||||||||||||||||||||||||||
TR coupon | increase | (900) | increase | (193,964) | increase | (343,490) | ||||||||||||||||||||||||||||||||
Others | decrease | (5) | decrease | (489) | decrease | (988) |
Exposures - R$ thousand | ||||||||||||||||||||||||||||||||||||||
Banking and Trading book | Scenarios | 12/31/2022 | ||||||||||||||||||||||||||||||||||||
Risk factor | Rate variation in scenario 1 | Scenario I | Rate variation in scenario 2 | Scenario II | Rate variation in scenario 3 | Scenario III | ||||||||||||||||||||||||||||||||
IPCA coupon | increase | (3,085) | increase | (421,495) | increase | (784,028) | ||||||||||||||||||||||||||||||||
IGP-M coupon | increase | (21) | increase | (2,949) | increase | (5,542) | ||||||||||||||||||||||||||||||||
Pre-fixed rate | increase | (470) | increase | (162,809) | increase | (338,073) | ||||||||||||||||||||||||||||||||
TR coupon | increase | (850) | increase | (188,954) | increase | (334,415) |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Book value | Fair value | ||||||||||||||||||||||||||||||||||||||||||||||
Fair value through profit or loss | Fair value through other comprehensive income | Amortized cost | Total | Level 1 | Level 2 | Level 3 (*) | Total | ||||||||||||||||||||||||||||||||||||||||
As of September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
Financial assets | |||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | — | — | 4,297,078 | 4,297,078 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Amounts due from financial institutions | — | — | 3,474,244 | 3,474,244 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Compulsory deposits at Central Bank of Brazil | — | — | 2,190,872 | 2,190,872 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Securities | 1,069,515 | 12,704,526 | 1,134,256 | 14,908,297 | 12,228,668 | 1,545,373 | — | 13,774,041 | |||||||||||||||||||||||||||||||||||||||
Fair value through other comprehensive income - FVOCI | — | 12,704,526 | — | 12,704,526 | 11,807,593 | 896,933 | — | 12,704,526 | |||||||||||||||||||||||||||||||||||||||
Financial treasury bills (LFT) | — | 7,583,071 | — | 7,583,071 | 7,583,071 | — | — | 7,583,071 | |||||||||||||||||||||||||||||||||||||||
National treasury bills (LTN) | — | 449,351 | — | 449,351 | 449,351 | — | — | 449,351 | |||||||||||||||||||||||||||||||||||||||
National treasury notes (NTN) | — | 3,775,171 | — | 3,775,171 | 3,775,171 | — | — | 3,775,171 | |||||||||||||||||||||||||||||||||||||||
Debentures | — | 552,899 | — | 552,899 | — | 552,899 | — | 552,899 | |||||||||||||||||||||||||||||||||||||||
Certificates of real estate receivables | — | 148,403 | — | 148,403 | — | 148,403 | — | 148,403 | |||||||||||||||||||||||||||||||||||||||
Financial bills | — | 14,989 | — | 14,989 | — | 14,989 | — | 14,989 | |||||||||||||||||||||||||||||||||||||||
Commercial promissory notes | — | 180,642 | — | 180,642 | — | 180,642 | — | 180,642 | |||||||||||||||||||||||||||||||||||||||
Fair value through profit or loss - FVTPL | 1,069,515 | — | — | 1,069,515 | 421,075 | 648,440 | — | 1,069,515 | |||||||||||||||||||||||||||||||||||||||
Financial treasury bills (LFT) | 414,967 | — | — | 414,967 | 414,967 | — | — | 414,967 | |||||||||||||||||||||||||||||||||||||||
Investment fund quotas | 359,244 | — | — | 359,244 | 5,516 | 353,728 | — | 359,244 | |||||||||||||||||||||||||||||||||||||||
Certificates of real estate receivables | 59,217 | — | — | 59,217 | — | 59,217 | — | 59,217 | |||||||||||||||||||||||||||||||||||||||
Certificates of agricultural receivables | 70,316 | — | — | 70,316 | — | 70,316 | — | 70,316 | |||||||||||||||||||||||||||||||||||||||
Debentures | 119,670 | — | — | 119,670 | — | 119,670 | — | 119,670 | |||||||||||||||||||||||||||||||||||||||
Financial bills | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Bank deposit certificates | 22,191 | — | — | 22,191 | — | 22,191 | — | 22,191 | |||||||||||||||||||||||||||||||||||||||
Commercial promissory notes | 3,278 | — | — | 3,278 | — | 3,278 | — | 3,278 | |||||||||||||||||||||||||||||||||||||||
Agribusiness credit bills (LCA) | 15,892 | — | — | 15,892 | — | 15,892 | — | 15,892 | |||||||||||||||||||||||||||||||||||||||
Real estate credit bills (LCI) | 4,309 | — | — | 4,309 | 161 | 4,148 | — | 4,309 | |||||||||||||||||||||||||||||||||||||||
Others | 431 | — | — | 431 | 431 | — | — | 431 | |||||||||||||||||||||||||||||||||||||||
Amortized cost | — | — | 1,134,256 | 1,134,256 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Debentures | — | — | 45,916 | 45,916 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
National treasury notes (NTN) | — | — | 658,012 | 658,012 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Rural product bill | — | — | 430,328 | 430,328 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Derivative financial assets | — | — | 9,389 | 9,389 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Loans and advances to customers, net of provisions for expected loss | — | — | 25,296,620 | 25,296,620 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Other assets | 107,977 | — | — | 107,977 | — | — | 107,977 | 107,977 | |||||||||||||||||||||||||||||||||||||||
Total | 1,177,492 | 12,704,526 | 36,402,459 | 50,284,477 | 12,228,668 | 1,545,373 | 107,977 | 13,882,018 | |||||||||||||||||||||||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||||||||||||||||||||||||
Liabilities with financial institutions | — | — | 9,418,245 | 9,418,245 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Liabilities with customers | — | — | 29,063,988 | 29,063,988 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Securities issued | — | — | 7,462,565 | 7,462,565 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Derivative financial liabilities | 21,059 | — | — | 21,059 | — | 21,059 | — | 21,059 | |||||||||||||||||||||||||||||||||||||||
Borrowing and onlending | — | — | 87,649 | 87,649 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Total | 21,059 | — | 46,032,447 | 46,053,506 | — | 21,059 | — | 21,059 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Book value | Fair value | ||||||||||||||||||||||||||||||||||||||||||||||
Fair value through profit or loss | Fair value through other comprehensive income | Amortized cost | Total | Level 1 | Level 2 | Level 3 (*) | Total | ||||||||||||||||||||||||||||||||||||||||
As of December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
Financial assets | |||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | — | — | 1,331,648 | 1,331,648 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Amounts due from financial institutions | — | — | 4,258,856 | 4,258,856 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Compulsory deposits at Central Bank of Brazil | — | — | 2,854,778 | 2,854,778 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Securities | 1,458,664 | 9,699,546 | 1,290,355 | 12,448,565 | 9,545,890 | 1,612,320 | — | 11,158,210 | |||||||||||||||||||||||||||||||||||||||
Fair value through other comprehensive income - FVOCI | — | 9,699,546 | — | 9,699,546 | 9,112,343 | 587,203 | — | 9,699,546 | |||||||||||||||||||||||||||||||||||||||
Financial treasury bills (LFT) | — | 4,652,445 | — | 4,652,445 | 4,652,445 | — | — | 4,652,445 | |||||||||||||||||||||||||||||||||||||||
National treasury bills (LTN) | — | 589,496 | — | 589,496 | 589,496 | — | — | 589,496 | |||||||||||||||||||||||||||||||||||||||
National treasury notes (NTN) | — | 3,541,780 | — | 3,541,780 | 3,541,780 | — | — | 3,541,780 | |||||||||||||||||||||||||||||||||||||||
Debentures | — | 684,153 | — | 684,153 | 328,622 | 355,531 | — | 684,153 | |||||||||||||||||||||||||||||||||||||||
Certificates of real estate receivables | — | 203,350 | — | 203,350 | — | 203,350 | — | 203,350 | |||||||||||||||||||||||||||||||||||||||
Financial bills | — | 5,771 | — | 5,771 | — | 5,771 | — | 5,771 | |||||||||||||||||||||||||||||||||||||||
Commercial promissory notes | — | 22,551 | — | 22,551 | — | 22,551 | — | 22,551 | |||||||||||||||||||||||||||||||||||||||
Fair value through profit or loss - FVTPL | 1,458,664 | — | — | 1,458,664 | 433,547 | 1,025,117 | — | 1,458,664 | |||||||||||||||||||||||||||||||||||||||
Financial treasury bills (LFT) | 37,131 | — | — | 37,131 | 37,131 | — | — | 37,131 | |||||||||||||||||||||||||||||||||||||||
Investment fund quotas | 529,903 | — | — | 529,903 | 341,185 | 188,718 | — | 529,903 | |||||||||||||||||||||||||||||||||||||||
Certificates of real estate receivables | 44,453 | — | — | 44,453 | — | 44,453 | — | 44,453 | |||||||||||||||||||||||||||||||||||||||
Certificates of agricultural receivables | 237,750 | — | — | 237,750 | — | 237,750 | — | 237,750 | |||||||||||||||||||||||||||||||||||||||
Debentures | 435,755 | — | — | 435,755 | 51,099 | 384,656 | — | 435,755 | |||||||||||||||||||||||||||||||||||||||
Financial bills | 101,467 | — | — | 101,467 | — | 101,467 | — | 101,467 | |||||||||||||||||||||||||||||||||||||||
Bank deposit certificates | 44,638 | — | — | 44,638 | 3,523 | 41,115 | — | 44,638 | |||||||||||||||||||||||||||||||||||||||
Commercial promissory notes | 5,157 | — | — | 5,157 | — | 5,157 | — | 5,157 | |||||||||||||||||||||||||||||||||||||||
Agribusiness credit bills (LCA) | 20,413 | — | — | 20,413 | — | 20,413 | — | 20,413 | |||||||||||||||||||||||||||||||||||||||
Real estate credit bills (LCI) | 1,613 | — | — | 1,613 | 225 | 1,388 | — | 1,613 | |||||||||||||||||||||||||||||||||||||||
Others | 384 | — | — | 384 | 384 | — | — | 384 | |||||||||||||||||||||||||||||||||||||||
Amortized cost | — | — | 1,290,355 | 1,290,355 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Debentures | — | — | 112,914 | 112,914 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
National treasury notes (NTN) | — | — | 645,373 | 645,373 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Rural product bill | — | — | 532,068 | 532,068 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Loans and advances to customers, net of provisions for expected loss | — | — | 21,379,916 | 21,379,916 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Other assets | 87,318 | — | — | 87,318 | — | — | 87,318 | 87,318 | |||||||||||||||||||||||||||||||||||||||
Total | 1,545,982 | 9,699,546 | 31,115,553 | 42,361,081 | 9,545,890 | 1,612,320 | 87,318 | 11,245,528 | |||||||||||||||||||||||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||||||||||||||||||||||||
Liabilities with financial institutions | — | — | 7,906,897 | 7,906,897 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Liabilities with customers | — | — | 23,642,804 | 23,642,804 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Securities issued | — | — | 6,202,165 | 6,202,165 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Derivative financial liabilities | 37,768 | — | — | 37,768 | — | 37,768 | — | 37,768 | |||||||||||||||||||||||||||||||||||||||
Borrowing and onlending | — | — | 36,448 | 36,448 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Total | 37,768 | — | 37,788,314 | 37,826,082 | — | 37,768 | — | 37,768 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2023 | 12/31/2022 | |||||||||||||
Cash and cash equivalents in national currency | 558,278 | 388,622 | ||||||||||||
Cash and cash equivalents in foreign currency | 570,838 | 223,528 | ||||||||||||
Reverse repurchase agreements (a) | 3,167,962 | 719,498 | ||||||||||||
Total | 4,297,078 | 1,331,648 |
09/30/2023 | 12/31/2022 | |||||||||||||
Interbank deposit investments | 2,126,047 | 2,383,526 | ||||||||||||
Interbank onlending | 134,486 | 31,805 | ||||||||||||
Loans to financial institutions | 1,215,142 | 1,845,665 | ||||||||||||
Expected loss | (1,431) | (2,140) | ||||||||||||
Total | 3,474,244 | 4,258,856 |
09/30/2023 | 12/31/2022 | |||||||||||||
Fair value through other comprehensive income - FVOCI | ||||||||||||||
Financial treasury bills (LFT) | 7,583,071 | 4,652,445 | ||||||||||||
National treasury notes (NTN) | 3,775,171 | 3,541,780 | ||||||||||||
Debentures | 552,899 | 684,153 | ||||||||||||
National treasury bills (LTN) | 449,351 | 589,496 | ||||||||||||
Commercial promissory notes | 180,642 | 22,551 | ||||||||||||
Certificates of real estate receivables | 148,403 | 203,350 | ||||||||||||
Certificates of agricultural receivables | 14,989 | — | ||||||||||||
Financial bills | — | 5,771 | ||||||||||||
Subtotal | 12,704,526 | 9,699,546 | ||||||||||||
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2023 | 12/31/2022 | |||||||||||||
Amortized cost | ||||||||||||||
National treasury notes (NTN) | 658,012 | 645,373 | ||||||||||||
Rural product bill | 430,328 | 532,068 | ||||||||||||
Debentures | 45,916 | 112,914 | ||||||||||||
Subtotal | 1,134,256 | 1,290,355 | ||||||||||||
Fair value through profit or loss - FVTPL | ||||||||||||||
Financial treasury bills (LFT) | 414,967 | 37,131 | ||||||||||||
Investment fund quotas | 359,244 | 529,903 | ||||||||||||
Debentures | 119,670 | 435,755 | ||||||||||||
Certificates of agricultural receivables | 70,316 | 237,750 | ||||||||||||
Certificates of real estate receivables | 59,217 | 44,453 | ||||||||||||
Bank deposit certificates | 22,191 | 44,638 | ||||||||||||
Agribusiness credit bills (LCA) | 15,892 | 20,413 | ||||||||||||
Real estate credit bills (LCI) | 4,309 | 1,613 | ||||||||||||
Commercial promissory notes | 3,278 | 5,157 | ||||||||||||
National treasury notes (NTN) | 431 | 384 | ||||||||||||
Financial bills | — | 101,467 | ||||||||||||
Subtotal | 1,069,515 | 1,458,664 | ||||||||||||
Total | 14,908,297 | 12,448,565 |
09/30/2023 | 12/31/2022 | ||||||||||||||||||||||||||||||||||||||||
Up to 3 months | 3 months to 1 year | 1 year to 3 years | From 3 to 5 years | Above 5 years | Accounting balance | Accounting balance | |||||||||||||||||||||||||||||||||||
Fair value through other comprehensive income - FVOCI | 4,965 | 3,892 | 1,088,576 | 4,132,727 | 7,474,366 | 12,704,526 | 9,699,546 | ||||||||||||||||||||||||||||||||||
Financial treasury bills (LFT) | — | — | 432,322 | 2,415,725 | 4,735,024 | 7,583,071 | 4,652,445 | ||||||||||||||||||||||||||||||||||
National treasury notes (NTN) | — | — | 177,934 | 1,227,104 | 2,370,133 | 3,775,171 | 3,541,780 | ||||||||||||||||||||||||||||||||||
Debentures | 4,965 | 3,892 | 63,175 | 249,490 | 231,377 | 552,899 | 684,153 | ||||||||||||||||||||||||||||||||||
National treasury bills (LTN) | — | — | 261,622 | 187,729 | — | 449,351 | 589,496 | ||||||||||||||||||||||||||||||||||
Commercial promissory notes | — | — | 153,523 | 27,119 | — | 180,642 | 22,551 | ||||||||||||||||||||||||||||||||||
Certificates of real estate receivables | — | — | — | 10,571 | 137,832 | 148,403 | 203,350 | ||||||||||||||||||||||||||||||||||
Certificates of agricultural receivables | — | — | — | 14,989 | — | 14,989 | — | ||||||||||||||||||||||||||||||||||
Financial bills | — | — | — | — | — | — | 5,771 | ||||||||||||||||||||||||||||||||||
Amortized cost | 110,766 | 136,594 | 202,382 | 16,221 | 668,293 | 1,134,256 | 1,290,355 | ||||||||||||||||||||||||||||||||||
National treasury notes (NTN) | — | — | — | — | 658,012 | 658,012 | 645,373 | ||||||||||||||||||||||||||||||||||
Rural product bill | 110,766 | 111,871 | 181,189 | 16,221 | 10,281 | 430,328 | 532,068 | ||||||||||||||||||||||||||||||||||
Debentures | — | 24,723 | 21,193 | — | — | 45,916 | 112,914 | ||||||||||||||||||||||||||||||||||
Fair value through profit or loss - FVTPL | 362,679 | 32,013 | 370,646 | 180,018 | 124,159 | 1,069,515 | 1,458,664 | ||||||||||||||||||||||||||||||||||
Financial treasury bills (LFT) | — | 14,068 | 307,862 | 84,982 | 8,055 | 414,967 | 37,131 | ||||||||||||||||||||||||||||||||||
Investment fund quotas | 359,244 | — | — | — | — | 359,244 | 529,903 | ||||||||||||||||||||||||||||||||||
Debentures | 1,376 | 11,432 | 25,485 | 31,270 | 50,107 | 119,670 | 435,755 | ||||||||||||||||||||||||||||||||||
Certificates of agricultural receivables | 26 | 11 | 2,465 | 42,465 | 25,349 | 70,316 | 237,750 | ||||||||||||||||||||||||||||||||||
Certificates of real estate receivables | 17 | 23 | 7,072 | 11,945 | 40,160 | 59,217 | 44,453 | ||||||||||||||||||||||||||||||||||
Bank deposit certificates | 1,367 | 3,457 | 12,189 | 5,123 | 55 | 22,191 | 44,638 | ||||||||||||||||||||||||||||||||||
Agribusiness credit bills (LCA) | 294 | 2,384 | 9,967 | 3,245 | 2 | 15,892 | 20,413 | ||||||||||||||||||||||||||||||||||
Real estate credit bills (LCI) | 355 | 638 | 2,328 | 988 | — | 4,309 | 1,613 | ||||||||||||||||||||||||||||||||||
Commercial promissory notes | — | — | 3,278 | — | — | 3,278 | 5,157 | ||||||||||||||||||||||||||||||||||
National treasury notes (NTN) | — | — | — | — | 431 | 431 | 384 | ||||||||||||||||||||||||||||||||||
Financial bills | — | — | — | — | — | — | 101,467 | ||||||||||||||||||||||||||||||||||
Total | 478,410 | 172,499 | 1,661,604 | 4,328,966 | 8,266,818 | 14,908,297 | 12,448,565 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Notional | Fair value | Up to 3 months | 3 months to 1 year | 1 year to 3 years | Above 3 years | 09/30/2023 | 12/31/2022 | ||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||||
Forward derivatives | 16,833 | 9,389 | 7,499 | 1,890 | — | — | 9,389 | — | |||||||||||||||||||||||||||||||||||||||
Total assets | 16,833 | 9,389 | 7,499 | 1,890 | — | — | 9,389 | — | |||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||
Swap derivatives | 52,000 | (17,395) | (3,969) | (5,248) | (8,177) | — | (17,394) | (37,502) | |||||||||||||||||||||||||||||||||||||||
Forward derivatives | 16,703 | (3,664) | (3,497) | (168) | — | — | (3,665) | (266) | |||||||||||||||||||||||||||||||||||||||
Future derivatives | 5,349,550 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Total liabilities | 5,418,253 | (21,059) | (7,466) | — | (5,416) | (8,177) | — | (21,059) | (37,768) | ||||||||||||||||||||||||||||||||||||||
Net effect | 5,435,086 | (11,670) | 33 | (3,526) | (8,177) | — | (11,670) | (37,768) |
Up to 3 months | 3 months to 1 year | 1 year to 3 years | Above 3 years | 09/30/2023 | 12/31/2022 | ||||||||||||||||||||||||||||||
Long position | 15,651 | 5,887 | — | — | 21,538 | 10,314 | |||||||||||||||||||||||||||||
Forward derivatives | 15,651 | 5,887 | — | — | 21,538 | — | |||||||||||||||||||||||||||||
Future derivatives | — | — | — | — | — | 10,314 | |||||||||||||||||||||||||||||
Short position | 699,646 | 972,771 | 1,754,628 | 1,986,503 | 5,413,548 | 681,478 | |||||||||||||||||||||||||||||
Swap derivatives | 11,500 | 16,000 | 24,500 | — | 52,000 | 78,000 | |||||||||||||||||||||||||||||
Forward derivatives | 9,895 | 2,103 | — | — | 11,998 | — | |||||||||||||||||||||||||||||
Future derivatives | 678,251 | 954,668 | 1,730,128 | 1,986,503 | 5,349,550 | 603,478 | |||||||||||||||||||||||||||||
Total | 715,297 | 978,658 | 1,754,628 | 1,986,503 | 5,435,086 | 691,792 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2023 | 12/31/2022 | |||||||||||||
Hedge instruments | 3,832,167 | 133,789 | ||||||||||||
Future DI (a) | 2,924,261 | — | ||||||||||||
IPCA (c) | 594.634 | |||||||||||||
Future dollar (b) | 225,342 | — | ||||||||||||
Swap (c) | 87,930 | 133,789 | ||||||||||||
Hedge object | 3,879,275 | 132,981 | ||||||||||||
Loans (a) | 2,917,451 | — | ||||||||||||
Investment abroad (b) | 279,700 | — | ||||||||||||
Real estate loans (c) | 682,124 | 132,981 |
09/30/2023 | 12/31/2022 | ||||||||||||||||||||||
Credit card | 8,650,139 | 31.99 | % | 6,870,564 | 30.27 | % | |||||||||||||||||
Real estate loans | 7,527,810 | 27.84 | % | 6,251,812 | 27.54 | % | |||||||||||||||||
Personal loans | 6,663,058 | 24.64 | % | 5,463,783 | 24.07 | % | |||||||||||||||||
Business loans | 3,438,526 | 12.71 | % | 3,392,500 | 14.95 | % | |||||||||||||||||
Agribusiness loans | 764,068 | 2.82 | % | 719,669 | 3.17 | % | |||||||||||||||||
Total | 27,043,601 | 100.00 | % | 22,698,328 | 100.00 | % | |||||||||||||||||
Provision for expected loss (a) | (1,746,981) | (1,318,412) | |||||||||||||||||||||
Net balance | 25,296,620 | 21,379,916 |
09/30/2023 | 12/31/2022 | ||||||||||||||||||||||
Balance | % on Loans and advances to customers | Balance | % on Loans and advances to customers | ||||||||||||||||||||
Largest debtor | 301,360 | 1.11 | % | 344,660 | 1.52 | % | |||||||||||||||||
10 largest debtors | 1,249,598 | 4.62 | % | 1,431,237 | 6.31 | % | |||||||||||||||||
20 largest debtors | 1,774,703 | 6.56 | % | 1,980,249 | 8.72 | % | |||||||||||||||||
50 largest debtors | 2,725,247 | 10.08 | % | 2,734,599 | 12.05 | % | |||||||||||||||||
100 largest debtors | 3,609,197 | 13.35 | % | 3,758,241 | 16.56 | % |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2023 | 12/31/2022 | |||||||||||||
Overdue by 1 day or more | 3,272,155 | 2,817,985 | ||||||||||||
To fall due in up to 3 months | 3,693,838 | 3,381,978 | ||||||||||||
To fall due between 3 to 12 months | 6,910,440 | 5,916,020 | ||||||||||||
To fall due in more than 12 months | 13,167,168 | 10,582,345 | ||||||||||||
Total | 27,043,601 | 22,698,328 |
09/30/2023 | 12/31/2022 | |||||||||||||
Financial activities | 1,715,974 | 2,427,341 | ||||||||||||
Construction | 1,699,388 | 1,392,607 | ||||||||||||
Industries | 1,307,863 | 1,359,184 | ||||||||||||
Administrative activities | 1,250,998 | 893,914 | ||||||||||||
Trade | 1,201,380 | 1,041,875 | ||||||||||||
Agriculture | 134,652 | 178,403 | ||||||||||||
Other segments | 1,380,087 | 1,781,575 | ||||||||||||
Business clients | 8,690,342 | 9,074,899 | ||||||||||||
Individual clients | 18,353,259 | 13,623,429 | ||||||||||||
Total | 27,043,601 | 22,698,328 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Stage 1 | Opening balance at 01/01/2023 | Transfer to Stage 2 | Transfer to Stage 3 | Transfer from Stage 2 | Transfer from Stage 3 | Settled contracts | Write-off for loss | Origination / (Receipt) | Ending balance at 09/30/2023 | Ending balance at 12/31/2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit card | 5,893,995 | (742,022) | (172) | 66,526 | 82 | (2,434,809) | — | 4,551,359 | 7,334,959 | 5,893,995 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate loans | 5,843,066 | (991,857) | (254) | 575,345 | 63,552 | (514,602) | — | 1,957,676 | 6,932,926 | 5,843,066 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal loans | 4,941,344 | (211,050) | — | 36,963 | 1,750 | (557,608) | — | 1,801,187 | 6,012,586 | 4,941,344 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Business loans | 3,378,982 | (44,973) | — | 23,158 | — | (5,847,002) | — | 5,907,390 | 3,417,555 | 3,378,982 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Agribusiness loans | 718,115 | (5,191) | — | — | — | (399,314) | — | 447,100 | 760,710 | 718,115 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 20,775,502 | (1,995,093) | (426) | 701,992 | 65,384 | (9,753,335) | — | 14,664,712 | 24,458,736 | 20,775,502 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Stage 2 | Opening balance at 01/01/2023 | Transfer to Stage 1 | Transfer to Stage 3 | Transfer from Stage 1 | Transfer from Stage 3 | Settled contracts | Write-off for loss | Origination / (Receipt) | Ending balance at 09/30/2023 | Ending balance at 12/31/2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit card | 335,422 | (66,526) | (1,130,714) | 742,022 | — | (988,714) | — | 1,537,806 | 429,296 | 335,422 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate loans | 280,633 | (575,345) | (357,015) | 991,857 | 173,535 | (34,350) | — | (12,358) | 466,957 | 280,633 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal loans | 290,510 | (36,963) | (285,709) | 211,050 | 7,736 | (171,955) | — | 338,448 | 353,117 | 290,510 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Business loans | 10,476 | (23,158) | (22,797) | 44,973 | 347 | (1,725) | — | (1,727) | 6,389 | 10,476 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Agribusiness loans | — | — | — | 5,191 | — | (1,712) | — | (121) | 3,358 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 917,041 | (701,992) | (1,796,235) | 1,995,093 | 181,618 | (1,198,456) | — | 1,862,048 | 1,259,117 | 917,041 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Stage 3 | Opening balance at 01/01/2023 | Transfer to Stage 1 | Transfer to Stage 2 | Transfer from Stage 1 | Transfer from Stage 2 | Settled contracts | Write-off for loss | Origination / (Receipt) | Ending balance at 09/30/2023 | Ending balance at 12/31/2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit card | 641,147 | (82) | — | 172 | 1,130,714 | (250,876) | (655,521) | 20,330 | 885,884 | 641,147 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate loans | 128,113 | (63,552) | (173,535) | 254 | 357,015 | (98,849) | (18,318) | (3,201) | 127,927 | 128,113 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal loans | 231,929 | (1,750) | (7,736) | — | 285,709 | (90,515) | (134,966) | 14,684 | 297,355 | 231,929 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Business loans | 3,042 | — | (347) | — | 22,797 | (809) | (2,726) | (7,375) | 14,582 | 3,042 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Agribusiness loans | 1,554 | — | — | — | — | — | (1,554) | — | — | 1,554 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 1,005,785 | (65,384) | (181,618) | 426 | 1,796,235 | (441,049) | (813,085) | 24,438 | 1,325,748 | 1,005,785 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated | Opening balance at 01/01/2023 | Settled contracts | Write-off for loss | Origination / (Receipt) | Ending balance at 09/30/2023 | Ending balance at 12/31/2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit card | 6,870,564 | (3,674,399) | (655,521) | 6,109,495 | 8,650,139 | 6,870,564 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate loans | 6,251,812 | (647,801) | (18,318) | 1,942,117 | 7,527,810 | 6,251,812 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal loans | 5,463,783 | (820,078) | (134,966) | 2,154,319 | 6,663,058 | 5,463,783 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business loans | 3,392,500 | (5,849,536) | (2,726) | 5,898,288 | 3,438,526 | 3,392,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agribusiness loans | 719,669 | (401,026) | (1,554) | 446,979 | 764,068 | 719,669 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 22,698,328 | (11,392,840) | (813,085) | 16,551,198 | 27,043,601 | 22,698,328 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Stage 1 | Opening balance at 01/01/2023 | Transfer to Stage 2 | Transfer to Stage 3 | Transfer from Stage 2 | Transfer from Stage 3 | Write-off for loss | Constitution/ (Reversal) | Ending balance at 09/30/2023 | Ending balance at 12/31/2022 | |||||||||||||||||||||||||||||||||||||||||||||||
Credit card | 296,909 | (243,134) | (52) | 21,446 | 53 | — | 289,193 | 364,415 | 296,909 | |||||||||||||||||||||||||||||||||||||||||||||||
Real estate loans | 66,484 | (65,723) | (50) | 25,679 | 7,554 | — | 7,978 | 41,922 | 66,484 | |||||||||||||||||||||||||||||||||||||||||||||||
Personal loans | 98,516 | (43,021) | — | 2,311 | 864 | — | 16,910 | 75,580 | 98,516 | |||||||||||||||||||||||||||||||||||||||||||||||
Business loans | 12,099 | (2,080) | — | 131 | — | — | 2,153 | 12,303 | 12,099 | |||||||||||||||||||||||||||||||||||||||||||||||
Agribusiness loans | 11,606 | (677) | — | — | — | — | 603 | 11,532 | 11,606 | |||||||||||||||||||||||||||||||||||||||||||||||
485,614 | (354,635) | (102) | 49,567 | 8,471 | — | 316,837 | 505,752 | 485,614 | ||||||||||||||||||||||||||||||||||||||||||||||||
Stage 2 | Opening balance at 01/01/2023 | Transfer to Stage 1 | Transfer to Stage 3 | Transfer from Stage 1 | Transfer from Stage 3 | Write-off for loss | Constitution/ (Reversal) | Ending balance at 09/30/2023 | Ending balance at 12/31/2022 | |||||||||||||||||||||||||||||||||||||||||||||||
Credit card | 174,466 | (21,446) | (705,634) | 243,134 | — | — | 538,650 | 229,170 | 174,466 | |||||||||||||||||||||||||||||||||||||||||||||||
Real estate loans | 16,939 | (25,679) | (52,921) | 65,723 | 14,621 | — | 15,511 | 34,194 | 16,939 | |||||||||||||||||||||||||||||||||||||||||||||||
Personal loans | 90,088 | (2,311) | (143,397) | 43,021 | 2,183 | — | 106,343 | 95,927 | 90,088 | |||||||||||||||||||||||||||||||||||||||||||||||
Business loans | 899 | (131) | (3,317) | 2,080 | 31 | — | 1,348 | 910 | 899 | |||||||||||||||||||||||||||||||||||||||||||||||
Agribusiness loans | — | — | — | 677 | — | — | (7) | 670 | — | |||||||||||||||||||||||||||||||||||||||||||||||
282,392 | (49,567) | (905,269) | 354,635 | 16,835 | — | 661,845 | 360,871 | 282,392 | ||||||||||||||||||||||||||||||||||||||||||||||||
Stage 3 | Opening balance at 01/01/2023 | Transfer to Stage 1 | Transfer to Stage 2 | Transfer from Stage 1 | Transfer from Stage 2 | Write-off for loss | Constitution/ (Reversal) | Ending balance at 09/30/2023 | Ending balance at 12/31/2022 | |||||||||||||||||||||||||||||||||||||||||||||||
Credit card | 402,826 | (53) | — | 52 | 705,634 | (655,521) | 173,022 | 625,960 | 402,826 | |||||||||||||||||||||||||||||||||||||||||||||||
Real estate loans | 19,127 | (7,554) | (14,621) | 50 | 52,921 | (18,318) | 11,926 | 43,531 | 19,127 | |||||||||||||||||||||||||||||||||||||||||||||||
Personal loans | 127,149 | (864) | (2,183) | — | 143,397 | (134,966) | 75,509 | 208,042 | 127,149 | |||||||||||||||||||||||||||||||||||||||||||||||
Business loans | 328 | — | (31) | — | 3,317 | (2,726) | 1,937 | 2,825 | 328 | |||||||||||||||||||||||||||||||||||||||||||||||
Agribusiness loans | 976 | — | — | — | — | (1,554) | 578 | — | 976 | |||||||||||||||||||||||||||||||||||||||||||||||
550,406 | (8,471) | (16,835) | 102 | 905,269 | (813,085) | 262,972 | 880,358 | 550,406 | ||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated | Opening balance at 01/01/2023 | Write-off for loss | Constitution/ (Reversal) | Ending balance at 9/30/2023 | Ending balance at 12/31/2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Credit card | 874,201 | (655,521) | 1,000,865 | 1,219,545 | 874,201 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate loans | 102,550 | (18,318) | 35,415 | 119,647 | 102,550 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Personal loans | 315,753 | (134,966) | 198,762 | 379,549 | 315,753 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Business loans | 13,326 | (2,726) | 5,438 | 16,038 | 13,326 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Agribusiness loans | 12,582 | (1,554) | 1,174 | 12,202 | 12,582 | |||||||||||||||||||||||||||||||||||||||||||||||||||
1,318,412 | (813,085) | 1,241,654 | 1,746,981 | 1,318,412 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
% in share capital | Equity accounted investees | |||||||||||||||||||||||||
Investees | 09/30/2023 | 12/31/2022 | 09/30/2023 | 12/31/2022 | ||||||||||||||||||||||
Granito Soluções em Pagamento S.A. (a) | 50.0 | % | 45.0 | % | 60,589 | 62,582 | ||||||||||||||||||||
Total | 60,589 | 62,582 | ||||||||||||||||||||||||
Other investments | 11,295 | 9,508 | ||||||||||||||||||||||||
Total | 71,884 | 72,090 |
Three-month period | Nine-month period | |||||||||||||||||||||||||
Investees | 09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | ||||||||||||||||||||||
Granito Soluções em Pagamento S.A. | (4,071) | (3,892) | (30,597) | (13,954) | ||||||||||||||||||||||
Total | (4,071) | (3,892) | (30,597) | (13,954) |
09/30/2023 | |||||||||||||||||||||||
Annual depreciation rate | Historical cost | Accumulated depreciation | Book value | ||||||||||||||||||||
Right-of-use assets - buildings and equipment | 4% to 10% | 125,176 | (9,007) | 116,169 | |||||||||||||||||||
Buildings | 4% | 38,435 | (29,776) | 8,659 | |||||||||||||||||||
Furniture and equipment | 10% | 33,987 | (2,658) | 31,329 | |||||||||||||||||||
Data processing systems | 20% | 16,015 | (475) | 15,540 | |||||||||||||||||||
Construction in progress | — | 1,980 | — | 1,980 | |||||||||||||||||||
Total | 215,593 | (41,916) | 173,677 |
12/31/2022 | |||||||||||||||||||||||
Annual depreciation rate | Historical cost | Accumulated depreciation | Book value | ||||||||||||||||||||
Right-of-use assets - buildings and equipment | 4% to 10% | 144,387 | (7,616) | 136,771 | |||||||||||||||||||
Buildings | 4% | 37,446 | (25,149) | 12,297 | |||||||||||||||||||
Furniture and equipment | 10% | 23,601 | (2,069) | 21,532 | |||||||||||||||||||
Data processing systems | 20% | 15,636 | (11) | 15,625 | |||||||||||||||||||
Construction in progress | — | 1,794 | — | 1,794 | |||||||||||||||||||
Total | 222,864 | (34,845) | 188,019 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Balance at 12/31/2022 | Addition | Transfer | Write-offs | Exchange rate changes | Balance at 09/30/2023 | |||||||||||||||||||||||||||||||||
Historical cost | ||||||||||||||||||||||||||||||||||||||
Right-of-use assets - buildings and equipment | 144,387 | — | — | (19,211) | — | 125,176 | ||||||||||||||||||||||||||||||||
Buildings | 37,446 | 978 | 11 | — | — | 38,435 | ||||||||||||||||||||||||||||||||
Furniture and equipment | 23,601 | 11,431 | (11) | (614) | (420) | 33,987 | ||||||||||||||||||||||||||||||||
Data processing systems | 15,636 | 379 | — | — | — | 16,015 | ||||||||||||||||||||||||||||||||
Construction in progress | 1,794 | 186 | — | — | — | 1,980 | ||||||||||||||||||||||||||||||||
Total | 222,864 | 12,974 | — | (19,825) | (420) | 215,593 | ||||||||||||||||||||||||||||||||
Accumulated depreciation | ||||||||||||||||||||||||||||||||||||||
Right-of-use assets - buildings and equipment | (7,616) | (1,391) | — | — | — | (9,007) | ||||||||||||||||||||||||||||||||
Buildings | (25,149) | (4,627) | — | — | — | (29,776) | ||||||||||||||||||||||||||||||||
Furniture and equipment | (2,069) | (1,174) | 303 | 91 | 191 | (2,658) | ||||||||||||||||||||||||||||||||
Data processing systems | (11) | (164) | (303) | 3 | — | (475) | ||||||||||||||||||||||||||||||||
Total Accumulated depreciation | (34,845) | (7,356) | — | 94 | 191 | (41,916) | ||||||||||||||||||||||||||||||||
Total | 188,019 | 5,618 | — | (19,731) | (229) | 173,677 |
Balance at 12/31/2021 | Addition | Business Combination | Transfer | Write-offs | Balance at 09/30/2022 | |||||||||||||||||||||||||||||||||
Historical cost | ||||||||||||||||||||||||||||||||||||||
Right-of-use assets - buildings and equipment | 131,064 | 21,983 | — | — | — | 153,047 | ||||||||||||||||||||||||||||||||
Buildings | 27,608 | 8,705 | 11,189 | 806 | (1,337) | 46,971 | ||||||||||||||||||||||||||||||||
Furniture and equipment | 14,012 | 2,873 | — | (408) | (193) | 16,284 | ||||||||||||||||||||||||||||||||
Data processing systems | 14,390 | 379 | — | — | (13) | 14,756 | ||||||||||||||||||||||||||||||||
Total | 187,074 | 33,940 | 11,189 | 398 | (1,543) | 231,058 | ||||||||||||||||||||||||||||||||
Accumulated depreciation | ||||||||||||||||||||||||||||||||||||||
Right-of-use assets - buildings and equipment | (3,741) | (3,693) | — | — | — | (7,434) | ||||||||||||||||||||||||||||||||
Buildings | (14,721) | (3,998) | (5,223) | (5,005) | 13 | (28,934) | ||||||||||||||||||||||||||||||||
Furniture and equipment | (5,064) | (264) | — | 4,541 | 14 | (773) | ||||||||||||||||||||||||||||||||
Data processing systems | (72) | (6) | — | 66 | — | (12) | ||||||||||||||||||||||||||||||||
Total | (23,598) | (7,961) | (5,223) | (398) | 27 | (37,153) | ||||||||||||||||||||||||||||||||
Total | 163,476 | 25,979 | 5,966 | — | (1,516) | 193,905 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2023 | 12/31/2022 | ||||||||||||||||||||||||||||||||||||||||
Annual amortization rate | Historical cost | (Accumulated amortization) | Book value | Historical cost | (Accumulated amortization) | Book value | |||||||||||||||||||||||||||||||||||
Right of use | 10% | 401,396 | (249,741) | 151,655 | 336,495 | (204,278) | 132,217 | ||||||||||||||||||||||||||||||||||
Development costs | 20% | 308,001 | (104,427) | 203,574 | 234,400 | (48,835) | 185,565 | ||||||||||||||||||||||||||||||||||
Intangible assets in progress | — | 289,285 | — | 289,285 | 279,675 | — | 279,675 | ||||||||||||||||||||||||||||||||||
Software | 17% | 46,065 | (11,027) | 35,038 | — | — | — | ||||||||||||||||||||||||||||||||||
Customer portfolio | 20% | 13,965 | (6,902) | 7,063 | 13,965 | (5,589) | 8,376 | ||||||||||||||||||||||||||||||||||
Goodwill | 10 | 635,735 | — | 635,735 | 632,796 | — | 632,796 | ||||||||||||||||||||||||||||||||||
Total | 1,694,447 | (372,097) | 1,322,350 | 1,497,331 | (258,702) | 1,238,629 |
12/31/2022 | Addition | Write-offs | Transfers | Business Combination | Amortization | 09/30/2023 | |||||||||||||||||||||||||||||||||||
Right of use | 132,217 | 62,607 | — | 2,294 | — | (45,463) | 151,655 | ||||||||||||||||||||||||||||||||||
Development costs | 185,565 | — | — | 73,601 | — | (55,592) | 203,574 | ||||||||||||||||||||||||||||||||||
Intangible assets in progress | 279,675 | 131,526 | — | (121,916) | — | — | 289,285 | ||||||||||||||||||||||||||||||||||
Software | — | 44 | — | 46,021 | — | (11,027) | 35,038 | ||||||||||||||||||||||||||||||||||
Customer portfolio | 8,376 | — | — | — | — | (1,313) | 7,063 | ||||||||||||||||||||||||||||||||||
Goodwill | 632,796 | — | — | — | 2,939 | — | 635,735 | ||||||||||||||||||||||||||||||||||
Total | 1,238,629 | 194,177 | — | — | 2,939 | (113,395) | 1,322,350 | ||||||||||||||||||||||||||||||||||
12/31/2021 | Addition | Write-offs | Transfers | Business Combination | Amortization | 09/30/2022 | |||||||||||||||||||||||||||||||||||
Right of use | 47,150 | 107,859 | (30,237) | (1,419) | 155,622 | (73,252) | 205,723 | ||||||||||||||||||||||||||||||||||
Development costs (b) | 115,417 | 21,646 | (762) | 60,771 | — | (23,274) | 173,798 | ||||||||||||||||||||||||||||||||||
Intangible assets in progress | 177,979 | 140,915 | (34,033) | (59,352) | — | — | 225,509 | ||||||||||||||||||||||||||||||||||
Customer portfolio (b) | 10,329 | 4,727 | (103) | — | — | (1,383) | 13,570 | ||||||||||||||||||||||||||||||||||
Goodwill (a) (b) | 78,037 | — | (12,670) | — | 554,759 | — | 620,126 | ||||||||||||||||||||||||||||||||||
Total | 428,912 | 275,147 | (77,805) | — | 710,381 | (97,909) | 1,238,726 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2023 | 12/31/2022 | ||||||||||
Prepaid expenses (a) | 359,261 | 321,830 | |||||||||
Taxes and contributions to be offset against future amounts payable | 322,945 | 176,513 | |||||||||
Commissions and bonus receivable (b) | 190,906 | 113,546 | |||||||||
Early settlement of loans | 148,836 | 23,328 | |||||||||
Premium or discount on transfer of financial assets | 132,117 | 71,460 | |||||||||
Sundry debtors (c) | 116,694 | 91,627 | |||||||||
Amount receivable from the sale of investments | 107,977 | 87,318 | |||||||||
Unbilled services provided | 53,049 | 31,870 | |||||||||
Agreements on sales of properties receivable | 48,308 | 38,467 | |||||||||
Advances to third parties | 37,744 | 23,911 | |||||||||
Others | 575,996 | 445,638 | |||||||||
Total | 2,093,833 | 1,425,508 |
09/30/2023 | 12/31/2022 | |||||||||||||
Payables with credit card network | 6,410,380 | 5,228,314 | ||||||||||||
Securities sold under agreements to repurchase | 1,600,988 | 1,902,873 | ||||||||||||
Interbank deposits | 1,356,437 | 732,528 | ||||||||||||
Others | 50,440 | 43,182 | ||||||||||||
Total | 9,418,245 | 7,906,897 |
09/30/2023 | 12/31/2022 | |||||||||||||
Time deposits (a) | 25,572,336 | 10,517,060 | ||||||||||||
Demand deposits | 1,813,779 | 11,566,826 | ||||||||||||
Savings deposits | 1,350,713 | 1,307,055 | ||||||||||||
Creditors by resources to release | 327,160 | 251,863 | ||||||||||||
Total | 29,063,988 | 23,642,804 |
09/30/2023 | 09/30/2022 | |||||||||||||
Real estate credit bills | 7,226,685 | 5,794,144 | ||||||||||||
Financial Bills | 158,116 | 67,014 | ||||||||||||
Agribusiness credit bills | 77,764 | 341,007 | ||||||||||||
Total | 7,462,565 | 6,202,165 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2023 | 12/31/2022 | |||||||||||||
Onlending obligations - Tesouro Funcafé (a) | 61,210 | 6,000 | ||||||||||||
Onlending obligations – Caixa Econômica Federal (b) | 20,868 | 22,231 | ||||||||||||
Onlending obligations – BNDES (c) | 5,567 | 8,139 | ||||||||||||
Others | 4 | 78 | ||||||||||||
Total | 87,649 | 36,448 |
09/30/2023 | 12/31/2022 | |||||||||||||
Income tax and social contribution | 274,478 | 114,493 | ||||||||||||
PIS/COFINS | 22,095 | 20,542 | ||||||||||||
INSS/FGTS | 13,604 | 14,842 | ||||||||||||
Others | 22,668 | 16,988 | ||||||||||||
Total | 332,845 | 166,865 |
Labor | Civil | Total | |||||||||||||||
Balance at December 31, 2022 | 3,788 | 24,330 | 28,118 | ||||||||||||||
Constitution net of (reversals and write-offs) | 676 | 15,965 | 27,104 | ||||||||||||||
Payments | (239) | (13,501) | (20,182) | ||||||||||||||
Balance at September 30, 2023 | 4,225 | 30,068 | 35,040 | ||||||||||||||
Balance at December 31, 2021 | 3,312 | 18,370 | 21,682 | ||||||||||||||
Constitution/increase in provision | 1,071 | 19,147 | 20,218 | ||||||||||||||
Payments | (560) | (14,782) | (15,342) | ||||||||||||||
Balance at September 30, 2022 | 3,823 | 22,735 | 26,558 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Process type | 09/30/2023 | 12/31/2022 | ||||||||||||
Action for the annulment of a tax debt | 35,685 | 28,459 | ||||||||||||
Tax assessment notice | 23,692 | 22,340 | ||||||||||||
Collection Letter | 1,243 | 1,473 | ||||||||||||
Total | 60,620 | 52,272 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
09/30/2023 | 12/31/2022 | |||||||||||||
Payments to be processed (a) | 750,406 | 648,887 | ||||||||||||
Provisions for salaries, vacations and other labor charges | 151,379 | 77,383 | ||||||||||||
Lease liabilities (Note 24.a) | 127,676 | 146,705 | ||||||||||||
Pending settlements (b) | 73,657 | 31,352 | ||||||||||||
Contract liabilities (c) | 42,679 | 45,364 | ||||||||||||
Agreements | 39,120 | 33,736 | ||||||||||||
Other liabilities | 75,412 | 190,100 | ||||||||||||
Total | 1,260,329 | 1,173,527 |
Balance at January 1, 2023 | 146,705 | ||||
New contracts | 3,023 | ||||
Payments | (28,548) | ||||
Accrued interest | 6,496 | ||||
Ending balance at September 30, 2023 | 127,676 | ||||
Balance at January 1, 2022 | 137,085 | ||||
New contracts | 1,225 | ||||
Payments | (38,882) | ||||
Accrued interest | 47,277 | ||||
Ending balance at December 31, 2022 | 146,705 |
09/30/2023 | 12/31/2022 | ||||||||||
Up to 1 year | 4,389 | 2,890 | |||||||||
From 1 year to 5 years | 15,789 | 26,009 | |||||||||
Above 5 years | 107,498 | 117,806 | |||||||||
Total | 127,676 | 146,705 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Date | Class A | Class B | Total | |||||||||||||||||
12/31/2022 | 284,765,936 | 117,037,105 | 401,803,041 | |||||||||||||||||
09/30/2023 | 284,836,041 | 117,037,105 | 401,873,146 |
Company | 09/30/2023 | 12/31/2022 | ||||||||||||
Banco Inter | 50,000 | 38,056 | ||||||||||||
Inter Holding Fin | 25,781 | — | ||||||||||||
Inter Digital (a) | — | 25,812 | ||||||||||||
Inter Food (a) | 19,704 | 12,030 | ||||||||||||
Total | 95,485 | 75,898 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Three-month period | Nine-month period | |||||||||||||||||||||||||
09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | |||||||||||||||||||||||
Profit (loss) attributable to Owners of the company (In thousands of Reais) | 91,291 | (30,008) | 151,442 | (43,326) | ||||||||||||||||||||||
Weighted average number of shares | 401,789,293 | 403,575,106 | 401,789,293 | 403,575,106 | ||||||||||||||||||||||
Basic earnings (loss) per share (R$) | 0.2272 | (0.0744) | 0.3769 | (0.1074) | ||||||||||||||||||||||
Diluted earnings (loss) per share (R$) | 0.2263 | (0.0744) | 0.3753 | (0.1074) |
Three-month period | Nine-month period | |||||||||||||||||||||||||
09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | |||||||||||||||||||||||
Interest income | ||||||||||||||||||||||||||
Credit card | 333,795 | 231,786 | 912,907 | 479,119 | ||||||||||||||||||||||
Personal loans | 215,754 | 159,493 | 758,097 | 401,176 | ||||||||||||||||||||||
Real estate loans | 210,305 | 169,002 | 661,042 | 541,058 | ||||||||||||||||||||||
Business loans | 131,731 | 112,398 | 376,747 | 304,148 | ||||||||||||||||||||||
Amounts due from financial institutions | 147,490 | 78,399 | 359,709 | 140,353 | ||||||||||||||||||||||
Prepayment of receivables | 60,383 | 32,904 | 185,166 | 55,865 | ||||||||||||||||||||||
Others | 7,477 | 4,361 | 17,299 | 10,096 | ||||||||||||||||||||||
Total | 1,106,935 | 788,343 | 3,270,967 | 1,931,815 | ||||||||||||||||||||||
Interest expenses | ||||||||||||||||||||||||||
Term deposits | (448,514) | (301,469) | (1,185,068) | (718,787) | ||||||||||||||||||||||
Open market capture | (247,243) | (197,029) | (779,356) | (535,604) | ||||||||||||||||||||||
Financial institutions deposits | (42,409) | (7,429) | (88,791) | (14,624) | ||||||||||||||||||||||
Saving | (24,012) | (21,620) | (69,761) | (59,188) | ||||||||||||||||||||||
Others | (8,220) | (52,131) | (12,399) | (53,287) | ||||||||||||||||||||||
Total | (770,398) | (579,678) | (2,135,375) | (1,381,490) |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Three-month period | Nine-month period | |||||||||||||||||||||||||
09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | |||||||||||||||||||||||
Income from securities | 417,887 | 340,982 | 1,190,849 | 1,095,841 | ||||||||||||||||||||||
Fair value through other comprehensive income | 333,051 | 217,655 | 917,204 | 818,805 | ||||||||||||||||||||||
Fair value through profit or loss | 52,227 | 45,468 | 146,866 | 128,446 | ||||||||||||||||||||||
Amortized cost | 32,609 | 77,859 | 126,779 | 148,590 | ||||||||||||||||||||||
Income from Derivatives | 64,133 | 5,941 | 5,753 | 5,753 | 13,920 | |||||||||||||||||||||
Future dolar contracts | (2,828) | 3,806 | 18,132 | 30,658 | ||||||||||||||||||||||
Forward contracts | (825) | 48 | (3,266) | 1,140 | ||||||||||||||||||||||
Futures contracts and swaps (a) | 67,786 | 2,087 | (9,112) | (17,878) | ||||||||||||||||||||||
Total | 482,020 | 346,923 | 1,196,602 | 1,109,761 |
Three-month period | Nine-month period | |||||||||||||||||||||||||
09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | |||||||||||||||||||||||
Interchange | 214,415 | 161,418 | 574,952 | 437,870 | ||||||||||||||||||||||
Commissions | 142,831 | 122,675 | 392,116 | 376,847 | ||||||||||||||||||||||
Banking | 24,030 | 16,837 | 60,446 | 45,246 | ||||||||||||||||||||||
Resource management | 20,522 | 4,160 | 47,654 | 29,864 | ||||||||||||||||||||||
Securities placement, custody and brokerage | 326 | 16,676 | 11,476 | 33,408 | ||||||||||||||||||||||
Other | 20,957 | 3,516 | 49,161 | 14,573 | ||||||||||||||||||||||
Gross revenues | 423,081 | 325,282 | 1,135,805 | 937,808 | ||||||||||||||||||||||
Cashback expenses (a) | (48,391) | (76,420) | (173,664) | (244,212) | ||||||||||||||||||||||
Inter Loop (b) | (26,910) | — | (33,484) | — | ||||||||||||||||||||||
Net revenues from services and commissions | 347,780 | 248,862 | 928,657 | 693,596 |
Three-month period | Nine-month period | |||||||||||||||||||||||||
09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | |||||||||||||||||||||||
Performance fees (a) | 48,645 | 30,764 | 104,840 | 123,702 | ||||||||||||||||||||||
Foreign exchange | 26,659 | 31,137 | 67,769 | 73,733 | ||||||||||||||||||||||
Capital gains | 25,341 | 2,651 | 34,428 | 63,565 | ||||||||||||||||||||||
Others | 30,785 | 13,135 | 71,428 | 40,466 | ||||||||||||||||||||||
Total | 131,430 | 77,687 | 278,465 | 301,466 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Three-month period | Nine-month period | |||||||||||||||||||||||||
09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | |||||||||||||||||||||||
Loss on impairment adjustment of loans and advances to customers | (461,835) | (275,013) | (1,241,654) | (848,610) | ||||||||||||||||||||||
Recovery of written-off credits | 40,180 | 13,533 | 86,453 | 29,253 | ||||||||||||||||||||||
Others | 13,756 | (1,633) | (1,939) | 834 | ||||||||||||||||||||||
Total | (407,899) | (263,113) | (1,157,140) | (818,523) |
Three-month period | Nine-month period | |||||||||||||||||||||||||
09/30/2023 | 12/31/2022 | 09/30/2023 | 12/31/2022 | |||||||||||||||||||||||
Data processing and information technology | (190,301) | (190,128) | (599,043) | (518,014) | ||||||||||||||||||||||
Third party services | (48,707) | (40,439) | (156,545) | (99,858) | ||||||||||||||||||||||
Advertisement and marketing | (22,921) | (23,423) | (64,063) | (98,243) | ||||||||||||||||||||||
Rent, condominium fee and property maintenance | (16,649) | (15,267) | (49,078) | (44,414) | ||||||||||||||||||||||
Financial System Services | (12,817) | (29,458) | (37,909) | (88,449) | ||||||||||||||||||||||
Provisions for contingencies | (10,463) | (9,453) | (27,104) | (20,218) | ||||||||||||||||||||||
Others | (61,019) | (71,778) | (162,618) | (236,174) | ||||||||||||||||||||||
Total | (362,877) | (379,946) | (1,096,360) | (1,105,370) |
Three-month period | Nine-month period | |||||||||||||||||||||||||
09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | |||||||||||||||||||||||
Salaries | (99,216) | (104,987) | (308,371) | (295,709) | ||||||||||||||||||||||
Benefits | (82,648) | (39,492) | (168,988) | (110,018) | ||||||||||||||||||||||
Social security charges | (27,839) | (31,451) | (85,642) | (86,928) | ||||||||||||||||||||||
Others | (958) | (302) | (6,321) | (1,163) | ||||||||||||||||||||||
Total | (210,661) | (176,232) | (569,322) | (493,818) |
Three-month period | Nine-month period | |||||||||||||||||||||||||
09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | |||||||||||||||||||||||
Current income tax and social contribution expenses | ||||||||||||||||||||||||||
Current year | (125,932) | (11,165) | (215,962) | (96,428) | ||||||||||||||||||||||
Deferred income tax and social contribution benefits (expenses) | ||||||||||||||||||||||||||
Provision for impairment losses on loans and advances | 66,930 | 48,837 | 143,436 | 186,370 | ||||||||||||||||||||||
Provision for contingencies | 1,764 | 1,375 | 3,069 | 2,364 | ||||||||||||||||||||||
Adjustment of financial assets to fair value | 27,633 | (16,641) | (3,504) | (5,694) | ||||||||||||||||||||||
Other temporary differences | 50,015 | 5,142 | 49,601 | 24,976 | ||||||||||||||||||||||
Hedge transactions | (22,100) | (9,073) | 6,623 | (8,740) | ||||||||||||||||||||||
Tax losses carried forward | (39,504) | 21,973 | (22,265) | 12,526 | ||||||||||||||||||||||
Total deferred income tax and social contribution | 84,738 | 51,613 | 176,960 | 211,802 | ||||||||||||||||||||||
Total income tax | (41,194) | 40,448 | (39,002) | 115,374 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Three-month period | Nine-month period | |||||||||||||||||||||||||||||||||||||||||||||||||
09/30/2023 | 12/31/2022 | 09/30/2023 | 12/31/2022 | |||||||||||||||||||||||||||||||||||||||||||||||
Income tax | Income tax | Income tax | Income tax | |||||||||||||||||||||||||||||||||||||||||||||||
Profit before tax | 145,354 | (70,043) | 231,550 | (158,266) | ||||||||||||||||||||||||||||||||||||||||||||||
Tax average (a) | 45 | % | (65,410) | 45 | % | 31,520 | 45 | % | (104,198) | 45 | % | 71,220 | ||||||||||||||||||||||||||||||||||||||
Tax effect of | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest on capital distribution | 22,500 | — | 22,500 | 17,126 | ||||||||||||||||||||||||||||||||||||||||||||||
Non-taxable income (non-deductible expenses) net | 3,731 | (38,252) | 4,007 | (5,598) | ||||||||||||||||||||||||||||||||||||||||||||||
Tax incentives | — | 5,665 | — | 1,590 | ||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries not subject to real profit taxation | (2,015) | 39,541 | 19,492 | 27,789 | ||||||||||||||||||||||||||||||||||||||||||||||
Others | — | 1,974 | 19,197 | 3,247 | ||||||||||||||||||||||||||||||||||||||||||||||
Total income tax | (41,194) | 40,448 | (39,002) | 115,374 | ||||||||||||||||||||||||||||||||||||||||||||||
Effective tax rate | (28)% | (58)% | (17)% | (73)% |
12/31/2022 | Constitution | Realization | 09/30/2023 | |||||||||||||||||||||||
Composition of the deferred tax assets | ||||||||||||||||||||||||||
Provision for impairment losses on loans and advances | 407,766 | 569,610 | (426,174) | 551,202 | ||||||||||||||||||||||
Adjustment of financial assets to fair value | 292,262 | 78,810 | (162,161) | 208,911 | ||||||||||||||||||||||
Tax losses carried forward | 202,184 | 38,912 | (63,887) | 177,209 | ||||||||||||||||||||||
Other temporary differences | 33,668 | 92,660 | (45,493) | 80,835 | ||||||||||||||||||||||
Hedge operations | 19,897 | 117,655 | (111,032) | 26,520 | ||||||||||||||||||||||
Provision for contingencies | 12,664 | 13,989 | (10,919) | 15,734 | ||||||||||||||||||||||
Expected loss on financial instruments | 9,707 | — | 1,130 | 10,837 | ||||||||||||||||||||||
Subtotal | 978,148 | 911,636 | (818,536) | 1,071,248 | ||||||||||||||||||||||
Composition of the deferred tax liabilities | ||||||||||||||||||||||||||
Capital gains from assets in the business combination | (30,073) | (2,608) | 3,910 | (28,771) | ||||||||||||||||||||||
MTM Hedge Accounting | — | (124) | — | (124) | ||||||||||||||||||||||
Subtotal | (30,073) | (2,732) | 3,910 | (28,895) | ||||||||||||||||||||||
Total tax credits on temporary differences (a) | 948,075 | 908,904 | (814,626) | 1,042,353 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
12/31/2021 | Constitution | Realization | 09/30/2022 | |||||||||||||||||||||||
Composition of the deferred tax assets | ||||||||||||||||||||||||||
Provision for impairment losses on loans and advances | 295,799 | 247,707 | (124,883) | 418,623 | ||||||||||||||||||||||
Provision for contingencies | 9,720 | 2,696 | (330) | 12,086 | ||||||||||||||||||||||
Adjustment of financial assets to fair value | 184,886 | 132,302 | (83,290) | 233,898 | ||||||||||||||||||||||
Other temporary differences | 62,939 | 50,046 | (42,572) | 70,413 | ||||||||||||||||||||||
Tax losses carried forward | 95,574 | 76,592 | (64,066) | 108,100 | ||||||||||||||||||||||
Provision for loss of non-current assets held for sale | 8,990 | — | (8,990) | — | ||||||||||||||||||||||
Provision for expected loss on financial instruments | 6,436 | 802 | — | 7,238 | ||||||||||||||||||||||
Hedge operations | 31,181 | 13,295 | (22,036) | 22,440 | ||||||||||||||||||||||
Subtotal | 695,525 | 523,440 | (346,167) | 872,798 | ||||||||||||||||||||||
Composition of the deferred tax liabilities | ||||||||||||||||||||||||||
Commission deferral | (3,869) | — | 3,869 | — | ||||||||||||||||||||||
Temporaty differences | (21,820) | — | 21,820 | — | ||||||||||||||||||||||
Others | (63,546) | — | 63,546 | — | ||||||||||||||||||||||
Subtotal | (89,235) | — | 89,235 | — | ||||||||||||||||||||||
Total tax credits on temporary differences (a) | 606,290 | 523,440 | (256,932) | 872,798 |
09/30/2023 | ||||||||||||||||||||
Period | Temporaty differences | Tax losses | Total | |||||||||||||||||
2023 | 221,684 | 7,284 | 228,968 | |||||||||||||||||
2024 | 257,415 | 83,612 | 341,027 | |||||||||||||||||
2025 | 258,970 | 68,112 | 327,082 | |||||||||||||||||
2026 | 8,681 | — | 8,681 | |||||||||||||||||
2027 | 39,086 | — | 39,086 | |||||||||||||||||
2028 to 2032 | 105,596 | 20,808 | 126,404 | |||||||||||||||||
Total | 891,432 | 179,816 | 1,071,248 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Grant Date | Final strike date | Options (shares INTR) | Vesting | Average strike price | Participants | |||||||||||||||||||||||||||
02/15/2018 | 02/15/2025 | 5,452,464 | Up to 5 years | R$1.80 | Officers, managers and key employees | |||||||||||||||||||||||||||
09/07/2020 | 09/07/2027 | 3,182,250 | Up to 5 years | R$21.50 | Officers, managers and key employees | |||||||||||||||||||||||||||
01/31/2022 | 12/31/2028 | 3,250,000 | Up to 5 years | R$15,50 | Officers, managers and key employees |
Grant Date | 12/31/2022 | Granted | Expired/Cancelled | Exercised | 09/30/2023 | |||||||||||||||||||||||||||
2018 | 135,599 | — | — | 19,800 | 115,799 | |||||||||||||||||||||||||||
2020 | 2,829,225 | — | 297,938 | 675 | 2,530,612 | |||||||||||||||||||||||||||
2022 | 2,838,500 | 50,000 | 60,500 | 1,875 | 2,826,125 | |||||||||||||||||||||||||||
Total | 5,803,324 | 50,000 | 358,438 | 22,350 | 5,472,536 | |||||||||||||||||||||||||||
Weighted average price of the shares | R$ | 18.15 | R$ | 15.50 | R$ 20,49 | R$ 3,54 | R$ 17,98 |
Grant Date | 12/31/2021 | Granted | Expired/Cancelled | Exercised | 12/31/2022 | |||||||||||||||||||||||||||
2018 | 2,458,065 | — | 10,800 | 2,311,666 | 135,599 | |||||||||||||||||||||||||||
2020 | 2,965,350 | — | 48,600 | 87,525 | 2,829,225 | |||||||||||||||||||||||||||
2022 | — | 2,903,500 | 65,000 | — | 2,838,500 | |||||||||||||||||||||||||||
Total | 5,423,415 | 2,903,500 | 124,400 | 2,399,191 | 5,803,324 | |||||||||||||||||||||||||||
Weighted average price of the shares | R$ | 14.34 | R$ | 15.50 | R$ | 16.69 | R$ | 2.31 | R$ | 18.15 |
2018 | 2020 | |||||||||||||
Strike price | 1.80 | 21.50 | ||||||||||||
Risk-free rate | 9.97 | % | 9.98 | % | ||||||||||
Duration of the strike (years) | 7 | 7 | ||||||||||||
Expected annualized volatility | 64.28 | % | 64.28 | % | ||||||||||
Fair value of the option at the grant/share date: | 0.05 | 0.05 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
2022 | ||||||||
Strike price | 15.50 | |||||||
Risk-free rate | 11.45 | % | ||||||
Duration of the strike (years) | 7 | |||||||
Expected annualized volatility | 38.81 | % | ||||||
Weighted fair value of the option at the grant/share date: | 4.08 |
Grant Date | Options | Vesting | Average strike price | Participants | Final exercise date | |||||||||||||||||||||||||||
2022 | 489,386 | Up 3 years | USD 1.92 for Classe A | Key Executives | 12/30/2024 |
Grant Date | Shares | Average strike price | Final exercise date | |||||||||||||||||
2022 | 643,500 | Key Executives | 12/30/2024 |
Grant Date | 12/31/2022 | Granted Options | Expired/Cancelled | Exercised | 09/30/2023 | |||||||||||||||||||||||||||
2022 | 489,386 | — | — | — | 489,386 | |||||||||||||||||||||||||||
Total | 489,386 | — | — | — | 489,386 | |||||||||||||||||||||||||||
Weighted average price of the shares | USD | 1.92 | USD | — | USD | — | USD | — | USD | 1.92 |
Grant Date | 12/31/2022 | Granted Shares | Expired/Cancelled | Options exercised | 09/30/2023 | |||||||||||||||||||||||||||
2022 | — | 643,500 | — | (160,875) | 482,625 | |||||||||||||||||||||||||||
Total | — | 643.500 | — | (160.875) | 482.625 |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Grant Date | Concession Date | Options | Vesting | Participants | ||||||||||||||||||||||
06/01/2023 | — | 2,140,500 | 04 years | Officers, managers and key employees |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
Parent Company (a) | Associates (b) | Key management personnel (c) | Other related parties (d) | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
09/30/2023 | 12/31/2022 | 09/30/2023 | 12/31/2022 | 09/30/2023 | 12/31/2022 | 09/30/2023 | 12/31/2022 | 09/30/2023 | 12/31/2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | 9,659 | 4,397 | 690,009 | 572,115 | 16,059 | 16,063 | 974,653 | 1,860,959 | 1,690,380 | 2,453,534 | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans and advances to customers | 9,659 | 4,397 | — | 4 | 16,059 | 16,063 | 485,425 | 632,408 | 511,143 | 652,872 | |||||||||||||||||||||||||||||||||||||||||||||||||
Amounts due from financial institutions | — | — | 690,009 | 572,111 | — | — | 489,228 | 1,228,551 | 1,179,237 | — | 1,800,662 | ||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | (7,792) | (24,736) | (18) | (7) | (18,130) | (15,031) | (89,461) | (122,576) | (115,401) | (162,350) | |||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities with customers - Demand deposits | (493) | (1,350) | (9) | (7) | (897) | (981) | (5,332) | (10,324) | (6,731) | (12,662) | |||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities with customers - Term deposits | (7,299) | (23,386) | (9) | — | (17,233) | (14,050) | (84,129) | (112,252) | (108,670) | (149,688) |
Parent Company (a) | Associates (b) | Key management personnel (c) | Other related parties (d) | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | 09/30/2023 | 09/30/2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Profit/ (loss) | (1,709) | (12,527) | — | (9,788) | (871) | (11,043) | (2,169) | (154,115) | (4,749) | (187,473) | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest income | — | — | — | 10,893 | 1,018 | — | 7,547 | — | 8,565 | 10,893 | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest expenses | (1,708) | (12,527) | — | (6,003) | (1,889) | (10,297) | (7,154) | (148,899) | (10,751) | (177,726) | |||||||||||||||||||||||||||||||||||||||||||||||||
Other administrative expenses | (1) | — | — | (14,678) | — | (746) | (2,562) | (5,216) | (2,563) | (20,640) |
Notes to the condensed consolidated interim financial statements As of September 30, 2023 |
1 Year Inter Chart |
1 Month Inter Chart |
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