New Street: BIDI11 (Buy, TP: BRL43, +80%) Inter - Notes from Investor Call with Helena Caldeira, CFO
We held a call with Inter’s CFO, Helena Lopes Caldeira, today. Focus was on 1/ the Credit loss assignment which dominated the Q4 earnings call yesterday (and isn’t such a huge issue we think, other than revealing a slight increase in credit card NPVs), 2/ Loan book growth outlook (slowing, inevitably), 3/ NPL prospects (pretty stable, perhaps slightly up), 4/ pricing/yields on lending (going up, particularly in SME) and 5/ the US product – coming soon.
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