Banco Inter posts sharp rise in digital accounts

Bnamericas Published: Tuesday, January 08, 2019
Banco Inter posts sharp rise in digital accounts

Brazilian digital lender Banco Inter saw a sharp rise in the number of new accounts last year.

The bank ended 2018 with 1.45mn digital accounts, up from 379,200 a year earlier, and compared with 1.05mn at the end of Q3.

The rise was the result of marketing campaigns and the launch of new products, Inter said.

"In the fourth quarter we launched four products that contribute to increased engagement and monetization of account holders," the bank said in a statement.

In May, Banco Inter raised 722mn reais (US$193mn) from an IPO on the São Paulo stock exchange. The bank is controlled by real estate group MRV, which is owned by the local Menin family.

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