• Inter & Co’s board approved a cash dividend of US$0.113101823 per common share, with an estimated R$0.594689388 per Brazilian Depositary Receipt, and reported fourth-quarter 2025 net income of R$374 million, up from R$275 million a year earlier.
• Beyond the dividend, Inter & Co’s recent net income improvement, rapid loan portfolio expansion, and newly secured US bank license collectively underline a broader strengthening of its business model and growth avenues across Brazil and the United States.
• We’ll now examine how Inter & Co’s stronger earnings and newly granted US bank license influence its existing investment narrative and outlook.

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Inter & Co Investment Narrative Recap

To own Inter & Co, you need to believe its digital-first banking model can keep converting strong client engagement into profitable growth in Brazil and the US. The latest dividend and higher Q4 2025 net income support that profitability story, but do not materially change the key near term catalyst, which is disciplined loan growth in higher returning segments. They also do not reduce the central risk around credit quality, given the bank’s exposure to riskier loan categories and already high bad loan levels.

Among the recent updates, the newly secured US bank license stands out as most relevant here. It ties directly into the growth catalyst of expanding Inter & Co’s ecosystem and product set across borders, while potentially lowering funding costs via US deposits. Combined with improving earnings, this license could amplify the impact of its loan growth ambitions, but it also increases execution and regulatory complexity that sits alongside existing credit and competitive risks.

Yet while these developments look encouraging, investors should also be aware that credit risk could still rise sharply if Brazil’s economy weakens, especially given...

Inter & Co's narrative projects R$13.8 billion revenue and R$2.9 billion earnings by 2028. This requires 37.6% yearly revenue growth and roughly a R$1.8 billion earnings increase from R$1.1 billion today.

Uncover how Inter & Co's forecasts yield a $9.69 fair value, a 11% upside to its current price.

Exploring Other Perspectives

The most bullish analysts were already expecting revenue to reach about R$14.8 billion and earnings around R$3.2 billion by 2028, so this dividend and earnings beat may either reinforce that optimistic path or prompt a rethink of how much credit, regulatory and international expansion risk you are truly comfortable with.

Explore 4 other fair value estimates on Inter & Co - why the stock might be worth 30% less than the current price!

Build Your Own Inter & Co Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Inter & Co research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Inter & Co research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Inter & Co's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.