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    Antonio Ruette • Bank of America

    Antonio Ruette's questions to PagSeguro Digital Ltd (PAGS) leadership

    Antonio Ruette's questions to PagSeguro Digital Ltd (PAGS) leadership • Q4 2024

    Question

    Antonio Ruette from Bank of America requested more detail on the drivers of the robust TPV growth in the LMEC segment and asked for feedback on the repricing strategy initiated in Q4 2024, including its success and impact on churn.

    Answer

    Executive Ricardo da Silva described repricing as a dynamic, ongoing process targeted at specific client clusters, noting it has continued into 2025 and that peers are also repricing. CFO Artur Schunck and Executive Alexandre Magnani attributed the 45% LMEC TPV growth to e-commerce, cross-border payments, and integrated partners, with cross-border growing fastest. Ricardo da Silva emphasized that the company prioritizes profitability over pure TPV growth.

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    Antonio Ruette's questions to Inter & Co Inc (INTR) leadership

    Antonio Ruette's questions to Inter & Co Inc (INTR) leadership • Q1 2024

    Question

    Antonio Ruette requested a deeper analysis of the net interest margin (NIM), asking for expectations on how the portfolio mix, repricing, and the use of excess liquidity would contribute to future performance.

    Answer

    Executive Santiago Stel reiterated the three main drivers of NIM expansion: an improving mix towards high-yield products like FGTS, home equity, and private payroll; ongoing repricing of legacy mortgage and public payroll loans; and optimizing the investment portfolio yield. He highlighted that the ultimate goal is to maximize the risk-adjusted NIM, which has been growing by approximately 20 basis points per quarter, a trend he expects to continue.

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