Inter & Co. Inc. (NASDAQ: INTR) delivered a record‑setting fourth‑quarter 2025 performance, reporting net income of R$1.31 billion—up 45% from R$874 million in 2024—while the loan portfolio expanded 36% year‑over‑year to R$1.12 trillion. The company’s earnings per share of $0.16 beat consensus of $0.15, a $0.01 or 6.7% lift driven by disciplined cost management and a favorable mix of high‑margin private payroll and credit‑card lending.
Inter’s revenue for the quarter reached $444 million, surpassing the $441.78 million estimate by $2.22 million (0.5%). The uptick was largely powered by robust demand in the core private payroll and credit‑card segments, which offset a modest decline in legacy retail lending. The company’s net interest margin widened to 9.6% from 8.7% in Q4 2024, reflecting higher interest income on the expanded loan book and a slight improvement in the spread between funding and earnings rates.
Operating efficiency continued to improve, with the efficiency ratio falling to 45.5% from 48.2% in the prior year, a result of tighter cost controls and the scaling of digital operations. The non‑performing loan ratio over 90 days dropped to 4.7% in Q4 2025, slightly below the 4.8% level in Q4 2024, underscoring the effectiveness of the company’s credit underwriting and risk monitoring. Funding grew 32% to R$72.9 billion, supporting the loan expansion while maintaining a competitive cost of capital.
Strategically, Inter reinforced its position as Brazil’s leading digital bank by expanding its super‑app ecosystem, which now spans seven verticals and serves 4.4 million active clients. The company also secured a U.S. bank license in January 2026, opening a new geographic market and signaling a broader international growth strategy. Product innovation continued with the launch of over ten new features, including “My Pick Bank” and “My Credit Journey,” further deepening customer engagement and cross‑selling opportunities.
Management highlighted the company’s disciplined execution and confidence in future growth. CEO João Vitor Menin said, “We delivered a very healthy combination of growth and profitability, while remaining fully aligned with our mission of offering financial services through a true win‑win relationship with our clients.” CFO Santiago Stel added that the company would continue to deploy capital in a disciplined, ROE‑accretive manner, aiming to deepen credit penetration with excess liquidity. The results and outlook reinforce Inter’s trajectory of expanding margins, client acquisition, and strategic expansion into the U.S. market.
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