XP Inc. Reports 2Q23 KPIs

XP Inc. (Nasdaq: XP), a leading, technology-driven platform and a trusted provider of low-fee financial products and services in Brazil, announced today its 2Q23 KPIs. The Portuguese version of this release can be accessed in the Press Release section on the IR website. Additional KPI details and historical data can be found in our financial spreadsheet.

1. INVESTMENTS

Client Assets and Net Inflow (in R$ billion)

Client Assets totaled R$1.0 trillion as of June 30^th, up 21% YoY and 7% QoQ. Year-over-year growth was driven by R$104 billion net inflows and R$73 billion of market appreciation.

In 2Q23, Net Inflow was R$22 billion, up 36% QoQ and down 49% YoY. Retail Net Inflow was R$18.4 billion while Corporate Net Inflow was R$3.7 billion.

Active Clients (in ‘000s)

Active clients grew 1% QoQ and 11% YoY, totaling 4.0 million in 2Q23.

IFA Network (in ‘000s)

Our network reached 14.1 thousand IFAs in 2Q23, up 9% QoQ and 25% YoY.

Retail Daily Average Trades (in million)¹

Retail DATs totaled 2.2 million in 2Q23, down 4% YoY and 8% QoQ, reflecting weaker volumes especially in futures.

NPS (Net Promoter Score)

Our NPS, a widely known survey methodology used to measure customer satisfaction, was 76 in 2Q23. Maintaining a high NPS score remains a priority for XP since our business model is built around client experience. The NPS calculation as of a given date reflects the average scores in the prior six months.

2. RETIREMENT PLANS

Retirement Plans Client Assets² (in R$ billion)

As per public data published by Susep, XPV&P continued to be #1 in net portability for individual retirement plans in 2023, as of May, while our total Market Share still stood at 4.0% and individual’s market share (PGBL and VGBL) stood at 4.6%. Total Client Assets achieved R$64 billion in 2Q23, up 18% YoY. Assets from XPV&P, our proprietary insurer, grew 30% YoY, reaching R$51 billion.

3. CARDS³

Cards TPV (in R$ billion)

In 2Q23, Total TPV reached R$9.7 billion, a 77% growth YoY, and 13% growth versus 1Q23.

Active Cards (in ‘000s)

Total active cards were 957 thousand in 2Q23, a growth of 15% QoQ and 150% YoY. We ended 2Q23 with 741 thousand active digital accounts, representing a penetration of 18% of total active clients.

4. CREDIT

Credit Portfolio⁴ (in R$ billion)

Total Credit portfolio reached R$17.9 billion as of June 30th, expanding 3% QoQ and 38% YoY. The average maturity of our credit book was 2.9 years, with a 90-day Non-Performing Loan (NPL) ratio of 0.1%.