- XP Inc. ( NASDAQ: XP ), a Brazil-based fintech platform, said Thursday its total net inflows in Q3 of R$35B (US$6.7B) fell 19% from the previous quarter and 7% from a year ago. XP shares dipped 2.0% in after-hours trading.
- Client assets, formerly labeled as assets under custody, were R$925B, up 9% Q/Q and 17% Y/Y.
- Retail daily average trades were 2.3M, up 3% Q/Q and down 11% Y/Y.
- Total transaction payment volume of R$6.6B rose 21% from Q2 and 103% from a year ago.
- Its credit portfolio reached R$16.3B at Sept. 2022, up 26% Q/Q. Average maturity of XP's ( XP ) credit book was 3.2 years, with a 90-day non-performing loan ratio of 0.0%.
- In August, XP's ( XP ) profitability was hurt by i nvestments in certain, new early stage initiatives.
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XP Q3 net inflows slide in Q3, client assets rise