Banco Inter Plans International Expansion in 2022, Says CEO

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Banco: In an annual meeting with investors held this Thursday (16), the CEO of Banco Inter, João Vitor Menin, stated that, in addition to the United States, the digital bank intends to operate in other countries in the second half of 2022. 2021 was an excellent year for the financial institution, which had an expansion of almost 100% in its customer base, 94% in the third quarter of this year alone.

Banco Inter has been present in the US since August, after acquiring fintech Usend. Menin did not detail in which international markets the bank from Belo Horizonte intends to invest. However, he assured that, in four years, foreign operations will likely be responsible for 50% of Inter’s revenues.

Perspectives for international expansion

The optimistic speech by Banco Inter’s chief executive comes two weeks after the institution was forced to suspend a listing process for its shares on the US Nasdaq stock exchange, in New York. Inter’s forecast was that the process could take place on December 28, but it had to be aborted because the right of redemption demanded by the shareholders (to exchange shares) exceeded the R$ 2 billion initially foreseen.

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Among the news announced by Menin at today’s event (16), is the launch of version 11.0 of the bank’s app, which will arrive next week with some news, such as an international home broker and a completely revamped banking experience. In the end, the CEO stated that the digital bank intends to reach the milestone of 1 million customers in the US in 2022.