Banco Inter doubles profits in one year

Analysts have raised their target price for the fintech's shares. On the Brazilian stock exchange and on the New York stock exchange, for Bank of America (Bofa), it is possible that the bank will rise even further. Wall Street stock trading, in relation to the last closing, expects US$7.30 per INTR share, implying a 26% increase.

However, for the BDRs listed on B3 under the ticker INBR32, Bofa set a target price of R$38 per share, which is equivalent to an appreciation of 21%.

Just like the digital bank, traded at a multiple of 12 times the 2025 price-to-earnings (P/E) ratio, in the banks' accounts.

Competitor Nubank is trading at 19 times its 2025 P/E. According to analysts, this means there is room for multiple expansion.

With positive 2023 results, analysts say Inter INBR 32 is well positioned to continue return on equity (ROE) levels, taking into account 2023 operational changes, “are producing positive results”.

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_{Representation of profit growth (Photo: reproduction/Getty Images Embed)}

Goal for 2027

The company presented a new business plan in early 2023, which aims to reach the 60 million customer mark by 2027, with 30% ROE and 30% efficiency.

There are three main operational changes that analysts saw as positive results, with the number of loans with the highest profitability being home equity secured loans. Assets and their quality were under control, with stable non-performing loans (NPL), reducing the number of renegotiations and improvements in the collection process.

Various improvements

The efficiency index also improved, which according to Bofa highlights Inter's leaner cost structure. The indicator stood at 51.4% in the fourth quarter of 2024, supported by cost control and higher revenue.

Over the last 12 months, with 1.4 million customers per quarter, Inter has been steadily increasing its customers, and has even reached 55% of active customers, surpassing the 52% of last year.

Inter announced two changes on Thursday (20) in its executive board. Mônica Saccarelli is the new investment director, responsible for financial products and services in Brazil, and Rafaela Vitória, the bank's chief economist, has taken on the responsibility of investor relations director (DRI).

Featured photo: facade of Banco Inter (Disclosure/InfoMoney)