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Inter aims for 30% ROE in Brazil

The bank’s chief financial officer says Inter is moving into an expansion phase, following an ambitious and aspirational ‘north star’.

Helena Caldeira, chief financial officer of Inter

Brazilian digital bank Inter believes it can hit a return on equity (ROE) target of 30% by 2027.

That figure is higher than the best ROE recorded in the Brazilian market in the third quarter of 2022, Itaú’s 21.6% – and a huge leap on the -1.7% figure recorded by Inter in the third quarter of 2022.

Nevertheless, Helena Caldeira, chief financial officer of Inter, tells Euromoney that the bank is confident in meeting this five-year plan. She says the bank is moving into an expansion phase in which its rapid growth – the bank has 24 million customers; more than the population of Chile and Uruguay combined – will continue while headcount will remain static.

Speaking after an investor day on January 19 in the city of Belo Horizonte – where the bank has its headquarters – head of investor relations Santiago Stel adds that the bank’s goal for the next five years is for it to reach 60 million clients, have a 30% efficiency ratio and generate 30% ROE.

Stel is keen to stress this 60-30-30 plan is not guidance but its aspirational “north star”.