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”.
