Inter & Co, Inc. (NASDAQ:INTR) Q4 2023 Results Conference Call February 8, 2024 11:00 AM ET

Company Participants

João Vitor Menin - Chief Executive Officer

Santiago Stel - Senior Vice President of Finance and Risks

Alexandre Riccio - Senior Vice President of Retail Banking

Conference Call Participants

Thiago Batista - UBS

Tito Labarta - Goldman Sachs

Mario Pierry - Bank of America

Yuri Fernandes - JPMorgan

Neha Agarwala - HSBC

Brian Flores - Citi

Operator

Good afternoon, and thank you for standing by. Welcome to Inter & Co’s Fourth Quarter Earnings Conference Call. Today's speakers are João Vitor Menin, Inter’s CEO; Alexandre Riccio, Senior Vice President of Retail Banking; and Santiago Stel, Senior Vice President of Finance and Risks. Please be advised that today's conference is being recorded and a replay will be available at the company's IR website. At this time, all participants are in listen-only mode. After the prepared remarks, there will be a question-and-answer session. [Operator Instructions]

Throughout this conference call, we will be presenting non-IFRS financial information. These are important financial measures for the company, but are not financial measures as defined by IFRS. Reconciliations of the company's non-IFRS financial information to the IFRS financial information are available in Inter & Co earnings release and earnings presentation appendix.

Today's discussion might include forward-looking statements, which are not guarantees of future performance. Please refer to the forward-looking statements disclosure in the company's earnings release and earnings presentation.

Now I would like to yield the floor to Mr. João Vitor Menin. Sir, the floor is yours.

João Vitor Menin

Thank you, operator. Good morning, everyone. I will start with a quick overview of our strategy to then pass this to Santiago to cover the operating and financial performance of Inter. As in prior calls, I will close with some final remarks and then open it for the Q&A section.

Our Investor Day held in Belo a year ago, we introduced our five year business plan known as the 60-30-30. This North Star means that Inter’s goal for 2027 is to achieve 60 million clients, 30% efficient ratio, and 10% ROE. When we announced it, it was received as a highly ambitious plan, and they have to say that the first year of our plan was a resounding success, much better than many [indiscernible].

Aside from being an important direction to the market, the point of the plan was to engage and drive our organization to our [indiscernible], and some as Armstrong Family Stack, a small step for men, one giant leap for mankind. We're both humbled and proud of our progress. This is the first step toward profitability. But more importantly, it validates how sustainable our business model is.