Shares of Inter & Co dropped 7.4% following Q1 results as investors reacted to cautious outlook signals and margin pressures, despite ongoing loan portfolio growth. The market clearly expressed concern over decelerating momentum and margin compression hinted in the financial commentary.
- Gross loan portfolio grew 33% year-over-year to nearly BRL 50 billion, or 37% excluding the SME portfolio, continuing steady growth across key segments.
- Mortgages and home equity loans expanded aggressively at 42% and 43% year-over-year, respectively, while credit cards grew 27%, supported by a "reshaping" strategy to increase profitability.
- Payroll loans, especially private payroll, remain a core strength with BRL 2.5 billion portfolio and 600,000 active clients.
- Loan balance per active client held at BRL 1,930, following strong prior quarter growth, indicating a pause or slight deceleration in client lending intensity.
- Management emphasized disciplined risk control amidst growth, but margin trends and cautious outlook details likely failed to meet market expectations, prompting the notable share drop.
Community Discussion