XP Inc. (XP) Reports 4Q23 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 4Q23 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.

Starting next quarter, we will integrate our KPIs into our regular earnings releases. This strategic shift reflects our belief that operational and financial data should be analyzed concurrently, providing investors with a more cohesive and insightful perspective on XP Inc.'s overall performance. Based on our ongoing commitment to transparency and a more comprehensive understanding of our performance, we also intend to continue to revise and improve our published KPIs over the upcoming quarters.

1. INVESTMENTS

Client Assets and Net Inflow (in R$ billion)

Client Assets totaled R$1.1 trillion as of December 31st, up 19% YoY and 4% QoQ. Year-over-year growth was driven by R$105 billion net inflows and R$72 billion of market appreciation.

In 4Q23, Net Inflow was R$19 billion, down 40% YoY and 61% QoQ. Retail Net Inflow was R$12 billion while Corporate Net Inflow was R$7 billion.

Active Clients (in ‘000s)

Active clients grew 17% YoY and 3% QoQ, totaling 4.5 million in 4Q23.

IFA Network (in ‘000s)

Our network was 14.3 thousand IFAs in 4Q23, up 16% YoY and flat QoQ.

Retail Daily Average Trades (in million)1

Retail DATs totaled 2.2 million in 4Q23, down 6% YoY and up 3% QoQ.

NPS (Net Promoter Score)

Our NPS, a widely known survey methodology used to measure customer satisfaction, was 72 in 4Q23. 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 November, while our total Market Share went up to 4.1% and individual’s market share (PGBL and VGBL) to 4.8%. Total Client Assets were R$73 billion in 4Q23, up 21% YoY. Assets from XPV&P, our proprietary insurer, grew 23% YoY, reaching R$56 billion.

3. CARDS3

Cards TPV (in R$ billion)

In 4Q23, Total TPV was R$11.8 billion, a 44% growth YoY, and 10% growth versus 3Q23. Total TPV in 2023 was R$40.8 billion, 64% growth YoY.

Active Cards (in ‘000s)

Total active cards were 1.2 million in 4Q23, a growth of 68% YoY and 9% QoQ. We ended 4Q23 with 1.4 million active digital accounts, out of which 90 thousand are primary accounts.

4. CREDIT

Credit Portfolio4 (in R$ billion)

Total Credit portfolio reached R$21.0 billion as of December 31st, expanding 23% YoY and 6% QoQ. The average maturity of our credit book was 2.6 years, with a 90-day Non-Performing Loan (NPL) ratio of 0.3%.

5. INSURANCE

Active Policies (in ‘000s)

Insurance active policies, that include whole and term life insurance products distributed on our platform, totaled 54 thousand, an increase of 36% YoY and 9% QoQ.

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