While historically low interest rates sweep the nation, investors are on the hunt for more desirable product alternatives. Brazilian financial services platform XP has stepped in to cater to this growing demand and nurture the shift in risk aversion.

This bold move has greatly benefited the firm as it has reported a 148% rise in second quarter adjusted net income of BRL565m (US$105.2m) year-over-year. XP also reported a 65% boost in gross revenue of BRL2.04 billion while its assets under custody (AUC) stand at BRL436m, a 59% increase from the figure seen during the second quarter of 2019. The AUC amount is a 19% climb from the first quarter of 2020 when it stood at BRL 366m. The sequential increase was driven by BRL 41 billion of market ap

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