Marcelo's questions to XP Inc (XP) leadership • Q4 2024
Question
An analyst from Bradesco BBI asked about the significant increase in bonus expenses during the fourth quarter and how to forecast this line. He also inquired if the current level of provisions, around BRL 100 million, should be considered the new recurring run-rate.
Answer
CFO Victor Mansur confirmed that provisions should be expected in the BRL 100-110 million range per quarter going forward, a slight increase due to loan book growth. CEO Thiago Maffra explained the Q4 bonus increase was a direct result of the company achieving 100% of its internal budget, which triggered higher performance-based compensation. He stressed that overall compensation and efficiency ratios remain at all-time lows and are expected to improve annually.