XP Inc. (NASDAQ:XP) Q1 2022 Earnings Conference Call May 3, 2022 5:00 PM ET

Company Participants

Andre Martins – Head of Investor Relations

Bruno Constantino – Chief Financial Officer

Thiago Maffra – Chief Executive Officer

Conference Call Participants

Thiago Batista – UBS

Jorge Kuri – Morgan Stanley

Otavio Tanganelli – Bradesco

Tito Labarta – Goldman Sachs

Marcelo Telles – Credit Suisse

Mario Pierry – Bank of America

Andre Martins

Okay, good evening, everyone. Welcome to XP’s Earning Call for the First Quarter of 2022. I am Andre Martins, the Head of Investor Relations. And on behalf of the company, I would like to thank you all for your interest in this call. Today, we have with us Thiago Maffra, our CEO; Bruno Constantino, our CFO; and the Invest Relations Team, myself, Antonio Maren and Marina Montemur. We will be all available for the Q&A session, which is going to happen right after the presentation.

And you can raise your hands on the Zoom tool to ask your questions. We already have seven raised hands already. We have the option of simultaneous translation to Portuguese. You just have to click on the go button on the Zoom. [Foreign Language] Before we begin our presentation, please refer to our legal disclaimer on Page 2 of our earnings presentation on which we clarify the forward-looking statements and their definition. The documents which explain why forward-looking statements might differ from actual results can be found on the SEC filing session of our website.

Now I’ll pass the word to our CFO, Bruno Constantino, who will deliver our initial remarks. Thank you all.

Bruno Constantino

Thank you. Thank very much, Andre. Good evening everyone. [Foreign Language] Are we going to have the presentation on? So, I can start. I will be brief. We have already seven hands raised, so I will be brief, so we can go to the Q&A. So we have basically two sessions here, the highlights, and then the financials and KPIs of the first quarter. Going to the highlights, we have segregated here those five topics that we would like to share with all of you. I will not spend our time talking about the macro environment, everything that’s happened in the first quarter, all of you are pretty much familiar with it, so jumping directly into the results. I believe the first quarter shows the resilience of our business model.