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.
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João Vitor Menin |
Engagement levels are also driving profitability.