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

BANCO INTER S.A.

(BIDI4)
  Report
End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 11/26
23.49 BRL   +1.34%
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SoftBank-backed Banco Inter launches app linking clients to stores

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


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
ACCESS CO., LTD. 1.88% 811 End-of-day quote.-15.08%
AT HOME GROUP INC. 1.54% 19.14 Delayed Quote.248.00%
ATACADÃO S.A. 2.20% 19.47 End-of-day quote.-16.62%
BANCO INTER S.A. 1.34% 23.49 End-of-day quote.49.81%
CARREFOUR 0.92% 13.75 Real-time Quote.-8.03%
HP INC. 0.09% 22.27 Delayed Quote.8.37%
JUST GROUP PLC 0.79% 57.65 Delayed Quote.-27.03%
LINE CORPORATION 0.19% 5380 End-of-day quote.0.56%
LOJAS AMERICANAS S.A. 0.21% 23.7 End-of-day quote.-8.53%
NATURA &CO HOLDING S.A. 0.22% 50.41 End-of-day quote.30.36%
NIKE, INC. -0.95% 134.25 Delayed Quote.32.51%
RETAIL PARTNERS CO., LTD. 1.74% 1519 End-of-day quote.69.53%
SOFTBANK GROUP CORP. 3.19% 7089 End-of-day quote.49.05%
WILL GROUP, INC. 0.91% 999 End-of-day quote.-20.21%
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More news
Financials
Sales 2020 1 024 M 192 M 192 M
Net income 2020 -56,0 M -10,5 M -10,5 M
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 0,11%
Capitalization 17 852 M 3 343 M 3 351 M
Capi. / Sales 2020 17,4x
Capi. / Sales 2021 11,0x
Nbr of Employees -
Free-Float 30,0%
Chart BANCO INTER S.A.
Duration : Period :
Banco Inter S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BANCO INTER S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 5
Average target price 13,22 BRL
Last Close Price 23,60 BRL
Spread / Highest target 52,5%
Spread / Average Target -44,0%
Spread / Lowest Target -90,3%
Managers
NameTitle
João Vitor N. Menin Teixeira de Souza Chief Executive Officer
Rubens Menin Teixeira de Souza Chairman
Alexandre Riccio de Oliveira Vice President-Technology, Operations & Finance
Guilherme Ximenes de Almeida Head-Information Technology
Andre Maciel Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BANCO INTER S.A.49.81%3 343
HDFC BANK LIMITED12.15%107 171
US BANCORP-24.64%66 600
BANCO SANTANDER, S.A.-31.04%51 068
BANK OF COMMUNICATIONS CO., LTD.-24.91%47 995
INTESA SANPAOLO S.P.A.-17.20%45 114