Moody's assigns debut AA+.br ratings to Inter, recognizing strong financial position
BELO HORIZONTE, Brazil, May 31, 2024 (GLOBE NEWSWIRE) -- Inter&Co (NASDAQ: INTR), the leading financial super app serving over 32 million customers across the Americas, is pleased to announce that Moody's has assigned Banco Inter in Brazil with first time AA+.br long-term issuer and deposit ratings, along with a stable outlook. These debut ratings from Moodys highlight Inter's strong financial position and reflect its expanding digital retail banking model and growth in profitability.
Moody's report emphasized Inter's consistent expansion of operations while maintaining robust capital levels and low funding costs. The ratings also recognize Inter's strong risk management practices, with controlled delinquency levels and prudent credit risk policies.
"We are proud of the ratings assigned by Moody's, which further validate our position in the market," said Joao Vitor Menin, CEO of Inter&Co. "We remain committed to delivering exceptional services and value to our customers and shareholders and fulfilling our 60-30-30 plan."
The ratings affirmation reinforces Inter's dedication to maintaining a strong financial position and delivering reliable services to its growing customer base. Per the report, Moody's expects Inter to continue its growth in profitability and maintain asset quality and capital levels in the future.
About Inter&Co:
Inter&Co (NASDAQ: INTR), the company that controls Banco Inter in Brazil and the subsidiary Inter&Co Payments, is the pioneering financial super app serving over 32 million customers across the Americas. The Inter&Co ecosystem offers a broad array of services, including banking, investments, mortgages, credit, insurance, and cross-border payments. The financial super app also boasts a dynamic marketplace, linking consumers with shopping discounts, cashback rewards, and exclusive access to marquee events across the globe. Focused on innovation and captivating member experiences, Inter&Co delivers comprehensive financial and lifestyle solutions to meet the evolving needs of modern consumers.
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