Unaudited interim condensed consolidated financial statements
As of for the twelve-months period ended
September 30, 2023
|
Contents | ||
Management report |
2 | |
Report of the independent auditors on the condensed consolidated interim financial statements
| 4 | |
Consolidated balance sheets |
6 | |
Consolidated statements of income |
7 | |
Consolidated statements of comprehensive income |
8 | |
Consolidated statements of cash flows |
9 | |
Consolidated statements of changes in equity |
10 | |
Consolidated statements of added value |
11 | |
Notes to the condensed consolidated interim financial statements |
12 | |
Note 1. |
Activity and structure of Inter & Co, Inc. and its subsidiaries |
12 |
Note 2 |
Basis for preparation |
13 |
Note 3 |
Changes to significant accounting policies |
13 |
Note 4 |
Significant accounting policies |
14 |
Note 5 |
Operating segments |
16 |
Note 6 |
Financial risk management |
20 |
Note 7 |
Fair values of financial instruments |
25 |
Note 8 |
Cash and cash equivalents |
28 |
Note 9 |
Amounts due from financial institutions |
28 |
Note 10 |
Securities |
28 |
Note 11 |
Derivative financial instruments |
30 |
Note 12 |
Loans and advances to customers |
31 |
Note 13 |
Non-current assets held for sale |
35 |
Note 14 |
Equity accounted investees |
35 |
Note 15 |
Property and equipment |
35 |
Note 16 |
Intangible assets |
37 |
Note 17 |
Other assets |
38 |
Note 18 |
Liabilities with financial institutions |
38 |
Note 19 |
Liabilities with customers |
38 |
Note 20 |
Securities issued |
38 |
Note 21 |
Borrowing and onlending |
39 |
Note 22 |
Tax liabilities |
39 |
Note 23 |
Provisions and contingent liabilities |
39 |
Note 24 |
Other liabilities |
41 |
Note 25 |
Equity |
42 |
Note 26 |
Net interest income |
43 |
Note 27 |
Income from securities and derivatives |
44 |
Note 28 |
Revenues from services and commissions |
44 |
Note 29 |
Other revenues |
44 |
Note 30
| Impairment losses on financial assets |
45 |
Note 31
|
Administrative expenses |
45 |
Note 32
| Personnel expenses |
45 |
Note 33 |
Current and deferred income tax and social contribution |
45 |
Note 34 |
Share-based payment |
47 |
Note 35 |
Transactions with related parties |
51 |
Note 36
| Other information |
52 |
Note 37
| Subsequent events |
52 |
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
|
(Amounts in thousands of Brazilian reais)
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 |
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 | 478,410 | 172,499 | 14,257,388 | 14,908,297 |
Derivative financial assets |
11 | 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 |
17 | - | - | 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 |
18 | 9,418,245 | - | - | 9,418,245 |
Liabilities with customers |
19 | 14,488,579 | 2,221,181 | 12,354,228 | 29,063,988 |
Securities issued |
20 | 1,260,814 | 2,447,535 | 3,754,216 | 7,462,565 |
Derivative financial liabilities |
11 | 7,466 | 5,416 | 8,177 | 21,059 |
Borrowing and onlending |
21 | 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 |
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 | 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 |
17 | - | - | 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 |
18 | 7,906,897 | - | - | 7,906,897 |
Liabilities with customers |
19 | 14,873,030 | 849,420 | 7,920,354 | 23,642,804 |
Securities issued |
20 | 1,149,070 | 421,032 | 4,632,063 | 6,202,165 |
Derivative financial instruments |
11 | - | - | 37,768 | 37,768 |
Borrowing and onlending |
21 | 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 |
(b) This is a loyalty and rewards program offered by Banco Inter. Through this program, bank customers accumulate points in their transactions and financial operations and can exchange them for benefits, discounts, products or services.
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
|
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Inter & Co. Inc. published this content on 06 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 November 2023 11:50:54 UTC.