XP Lifts Q2 Revenue 8% to BRL 5.1 Billion as Corporate Banking Jumps 117%
Updated
Updated · Yahoo Finance · Aug 17
XP Lifts Q2 Revenue 8% to BRL 5.1 Billion as Corporate Banking Jumps 117%
2 articles · Updated · Yahoo Finance · Aug 17
Summary
BRL 5.1 billion in Q2 gross revenue marked an 8% year-over-year increase for XP, while adjusted EBT rose 15% to BRL 1.6 billion and adjusted net income gained 5% to BRL 1.4 billion.
Corporate banking, equities and fund-platform fees drove the quarter, offsetting pressure from wider credit spreads, market volatility and weaker primary debt issuance.
BRL 2.2 trillion in client assets was up 17%, with BRL 28 billion of net new money, while wholesale revenue climbed 32% as corporate banking surged 117%.
Thiago Maffra said XP saw market normalization late in the quarter and a gradual recovery in its fixed-income pipeline; without the credit-market disruption, revenue growth would have been in the low teens.
XP plans to launch an AI advisor, raise technology spending and keep its full-year efficiency ratio broadly flat, while targeting 2026 capital distributions above 50% of earnings and authorizing another BRL 1 billion buyback.