Business

Banco Inter is the bank that reached the highest valuation at the stock exchange

The incorporation of Softbank as shareholder last month boosted the stocks of the fintech

Banco Inter is the bank that reached the highest valuation at the stock exchange
  • Banco Inter’s stocks registered an increase of 447.54% in 12 months;
  • In July, the fintech received a contribution of BRL 1.25 billion, of which BRL 760 million were raised by Softbank.

With a contribution of close to BRL 800 million from the Japanese conglomerate Softbank, which went on to become a part of the shareholders’ group at the fintech last month, Banco Inter has ambitious plans of expansion. With almost 3 million clients as its base and the recent bet on the super app model, Inter reached the milestone of most-valued bank in the stock exchange, compared to national and foreign banks.

In 12 months, the rise of the fintech’s shares was 447.54%, according Valor Econômico‘s data. The index represents the highest general valuation in the stock market.

Regarding the sustainability of the business model, which for some analysts is a significant point, João Vitor Menin, president of Inter, is backed by the experience of the company. “We are not a startup growing with losses. We are a bank that has been operating for 15 years and with the additional operation as a fintech,” explained the executive to Valor.

ALSO READ: Banco Inter’s assets to be Brazil’s 6th largest yet in 2019

In five months, Inter added a million users to its client base, one of the indicators that is attracting investors the most. Taking into account a period of one year, starting in April of 2018, the fintech went from 435 thousand accounts to 2 million.