INTR - Inter & Co's Q4 Earnings: Defaults Taking A Dip Bold Plan Gaining Ground

2024-02-14 03:55:36 ET

Summary

• Inter & Co reported record growth in 2023, aligning with its ambitious growth plan to rival traditional banks in Brazil by 2027.
• The digital bank showcased robust growth in net profit, credit portfolio, and client expansion in Q4 2023.
• The decline in delinquencies suggests potential growth in new loan originations, driving operational growth in the future.
• Despite dilution concerns, the market has reacted positively to The Company's capital increase.
• INTR's trading below a 1.5x price-to-book ratio is appealing, considering its robust growth as a digital bank.

Inter & Co (INTR) reported another encouraging quarter, culminating in a record growth year for 2023 and solidifying its position as a profitable digital bank. This success aligns with its ambitious growth plan to attain the same market value level as Brazil's major traditional banks by 2027, forming my investment thesis's cornerstone ....

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