Latin America's best digital bank 2020: Banco Inter
Awards for Excellence 2020
The best digital bank award goes to Banco Inter, which has pulled off the difficult feat of keeping both its investors happy following its 2018 IPO – as it matures from a rapid growth story – and its clients.
Banco Inter is a rare example in the region of a fully fledged bank, rather than a fintech with a couple of verticals masquerading as a digital banking platform.
Following its first-quarter 2020 results, management, led by chief executive and controlling shareholder João Vitor Menin, says the bank is on track to deliver its mid-term goal of client growth. Analysts and the markets agree, with the bank valued at over $1 billion.
Banco Inter now has a total client base of 4.9 million – up 22% in the quarter and 155% year on year – and its management is confident that it will have reached eight million customers by the end of 2020.
João Vitor Menin
Engagement levels are also driving profitability.