XP Investimentos reports adjusted net income of R $ 2.27 billion in 2020, up 73%

Charlie Taylor

XP Investimentos (NASDAQ: XP) ended its first year as a publicly traded company with an adjusted net profit of R $ 2.27 billion, an increase of 111% over the result recorded in 2019. In the fourth quarter, the XP recorded a 73% increase in adjusted net income compared to the same interval in 2019, to R $ 721 million. The adjusted net margin ends the fourth quarter at 30.1%, from 24.6% in the same period of 2019. year, the adjusted net margin rose to 27.8%, against 20.9% in 2019. “We had the best year in our history”, says the president and founder of XP, Guilherme Benchimol. "The year was challenging, but very special for XP because it was the first year of a listed company and the numbers speak for themselves," added XP's chief financial officer, Bruno Constantino. According to him, the pandemic, which brought greater digitization , made the company accelerate projects and investments. "In 2022, therefore, we have already started scaling new products, such as credit card, digital bank and collateralized credit".


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XP sees profit more than double in the 2nd quarter; actions advanceXP sees profit more than double in the 2nd quarter; actions advance

XP: the company

The company arrived with R $ 660 billion in assets in custody in the fourth quarter of last year, representing an increase of 61% in 12 months and 17% compared to the third quarter. Total active customers reached 2.8 million at the end of the fourth quarter, an increase of 53% compared to the end of 2019 and 5% compared to the third quarter. Gross revenues totaled R $ 2.6 billion in the fourth quarter, 41% above the same period last year and 14% higher than in the third quarter. In 2020, gross revenue reached R $ 8.7 billion, 58% above 2019, driven by retail. Just click here if you are already an investor. The post XP Investimentos reports adjusted net income of R $ 2.27 billion in 2020, up 73 % first appeared in 1 Billion Financial Education.

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