Business

XP reaches BRL 817 billion assets under custody during second quarter

According to XP, year-over-year growth was driven by BRL 298 billion of net inflows and BRL 83 billion of market appreciation

XP
Photo: Screenshot/XP
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Brazilian Nasdaq’s listed XP, a provider of financial assets in Brazil, announced on Friday that it has reached BRL 817 billion assets under custody during 2021’s second quarter. It was up 88% year-over-year and 14% quarter-over-quarter.

According to XP, year-over-year growth was driven by BRL 298 billion of net inflows and BRL 83 billion of market appreciation.

Source: XP/Q2KPIs

XP’s credit portfolio reached BRL 6.8 billion as of June 30, a 43% increase quarter-over-quarter. “The duration of our credit book was 3.5 years, with a 90-day Non-Performing Loan (NPL) ratio of 0.0%,” said the company.

Source: XP/Q2KPIs

2021’s second quarter was the first full quarter since officially launching XP’s credit card. For the quarter, XP generated BRL 2.1 billion of TPV (Total Purchased Value), a growth of 316% quarter-over-quarter.

XP’s net inflows wereup 9% quarter-over-quarter, and 159% year-over-year. It also reported over BRL 30 billion in inflows led by XP Private.

Active clients grew 33% and 5% in the second quarter of 2021 compared to the same period last year and the 2021’s Q1, respectively.

Average monthly client additions decreased to 49,000 in 2Q21 from 72,000 in 1Q21, “primarily reflecting slower activation at Clear, following lower market trading volumes, specifically futures”, said XP.

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