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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Banco Inter S.A.    BIDI4   BRBIDIACNPR0

BANCO INTER S.A.

(BIDI4)
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SoftBank-backed Banco Inter launches app linking clients to stores

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11/07/2019 | 01:45pm EST
Joao Vitor Menin, Chief Executive of Inter bank, speaks during an interview with Reuters in Sao Paulo

Brazilian mid-sized lender Banco Inter SA on Thursday launched a smartphone app offering clients direct access to more than 60 stores selling products from appliances to sneakers to beauty products.

The launch marks Banco Inter's latest move beyond its existing free checking accounts to lure more clients and increase profitability by becoming a one-stop shop for everything.

Among its retail partners are Alibaba's AliExpress, Lojas Americanas SA, Natura Cosmeticos SA, Nike Inc, Carrefour Brasil and HP Inc.

Chief Executive Joao Vitor Menin said in an interview with Reuters that he expects the so-called super app to help the bank attract new clients, either at a faster pace or at a lower cost.

Menin said the bank could reach roughly 8 million clients by December 2020, more than double its current 3.3 million consumers.

The lender, in which SoftBank Group Corp bought a 14.9% stake earlier this year, will share a portion of commissions from the third-party vendors on the app with its clients in the form of cash-back rebates. The commissions will also provide the bank a new revenue stream.

Some analysts still doubt whether such multi-function apps, widely used in China and elsewhere in Asia, will catch on in Latin America's largest economy.

"A bank's app is one that people use more recurrently," he said. "So we believe clients will buy products and services through Inter's app. It will prove to be easier."

Banco Inter posted on Wednesday a 38.1% drop in third-quarter net income from a year earlier, to 11.8 million reais, as expenses rose at a faster pace than revenues

(Reporting by Carolina Mandl; Editing by Cynthia Osterman)

By Carolina Mandl

Stocks mentioned in the article
ChangeLast1st jan.
ATACADÃO -0.86% 20.8 End-of-day quote.15.98%
BANCO INTER S.A. 0.80% 15.12 End-of-day quote.133.22%
CARREFOUR 0.88% 14.915 Real-time Quote.0.03%
HP INC. -0.39% 20.35 Delayed Quote.-0.54%
LOJAS AMERICANAS S.A. 2.10% 26.74 End-of-day quote.32.94%
NATURA COSMÉTICOS S.A. 3.94% 36.71 End-of-day quote.58.49%
NIKE, INC. 0.05% 97.77 Delayed Quote.31.80%
RETAIL PARTNERS CO., LTD. -2.16% 904 End-of-day quote.-16.30%
SOFTBANK GROUP CORP. 1.25% 4388 End-of-day quote.-37.36%
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Financials (BRL)
Sales 2019 770 M
EBIT 2019 53,4 M
Net income 2019 -
Debt 2019 -
Yield 2019 0,28%
P/E ratio 2019 -
P/E ratio 2020 -
Capi. / Sales2019 13,8x
Capi. / Sales2020 8,34x
Capitalization 10 626 M
Chart BANCO INTER S.A.
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Technical analysis trends BANCO INTER S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
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Mean consensus UNDERPERFORM
Number of Analysts 7
Average target price 14,64  BRL
Last Close Price 15,12  BRL
Spread / Highest target 158%
Spread / Average Target -3,16%
Spread / Lowest Target -81,5%
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