BELO HORIZONTE, Brazil, May 31, 2024 (GLOBE NEWSWIRE) — Inter&Co (NASDAQ: INTR), a leading financial superapp serving more than 32 million customers in the Americas, announces that Moody's has assigned Brazil's Banco Inter its first-ever long-term issuer and deposit ratings of AA+.br with a stable outlook. These inaugural ratings from Moody's highlight Inter's strong financial position and reflect its expanding digital retail banking model and improving profitability.
Moody's report highlights Intel's consistent expansion while maintaining strong capital levels and low financing costs. The rating also recognizes Intel's strong risk management practices, including controlling delinquency levels and prudent credit risk policies.
“We are proud of this rating from Moody's, which is further confirmation of our market position,” said João Vitor Menin, CEO of Inter & Co. “We remain committed to delivering exceptional service and value to our clients and shareholders and to delivering on our 60-30-30 plan.”
“The affirmation of the ratings reinforces Intel's commitment to maintaining a strong financial position and providing reliable service to its growing customer base. Moody's expects Intel to continue to improve its profitability and maintain its asset quality and capitalization levels,” according to the report.
About Inter&Co:
Inter&Co (NASDAQ: INTR), the company that controls Brazil's Banco Inter and its subsidiary Inter&Co Payments, is a pioneering financial super app serving more than 32 million customers across the Americas. The Inter&Co ecosystem offers a wide range of services, including banking, investments, mortgages, credit, insurance and international payments. The financial super app also boasts a dynamic marketplace that connects consumers to shopping discounts, cashback rewards and exclusive access to major events around the world. With a focus on innovation and a compelling member experience, Inter&Co offers comprehensive financial and lifestyle solutions that meet the evolving needs of the modern consumer.
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