Inter Nasdaq Listing Offers Direct Path to Invest in Brazil

On November 13, 2026, shares of Brazilian digital bank Inter&Co Inc. rose 4.67% to close at $4.15 on the Nasdaq, according to exchange trading data. For US retail investors holding accounts at major brokerages like Fidelity, Schwab, or Robinhood, trading the Nasdaq-listed Class A common shares of Inter&Co provides a direct path to invest in Brazil while bypassing the custody fees and administrative hurdles associated with American Depositary Receipts (ADRs). By trading directly on a US exchange, investors avoid the annual servicing fees of traditional depositary programs, illustrating how a primary US listing simplifies global portfolio diversification.

Inter&Co, known locally in Brazil as Inter, operates as a branchless digital "super app" that bundles checking, consumer credit, investment brokerage, and e-commerce. Headquartered in Belo Horizonte, Brazil, the pioneer of the country's fast-evolving financial technology sector has successfully converted its vast user base into a profitable digital franchise. On November 12, 2026, the digital bank reported in its third-quarter financial disclosures that its customer base has grown to 46.8 million—nearly one-fifth of Brazil's total population—with 27.1 million active users utilizing the platform on a monthly basis.

Record profits amid credit expansion

The company's third-quarter 2026 earnings statement, filed with the Securities and Exchange Commission on November 12, 2026, showed strong financial momentum. Inter recorded record net income of BRL 425 million (approximately $76.1 million) for the quarter, marking a 26% year-over-year increase from BRL 336 million in the third quarter of 2025, according to its SEC filing on November 12, 2026. This bottom-line growth was supported by BRL 2.7 billion in net revenue, which also rose 26% from a year earlier, alongside a 25% expansion of its credit portfolio to BRL 58.1 billion, as stated in the November 12, 2026, report.

Balancing macro headwinds and credit risks

However, rapid lending led to a minor rise in credit risk, with loans overdue by more than 90 days climbing by 29 basis points quarter-over-quarter to 5.3% of the expanded portfolio as of September 30, 2026, according to the bank's SEC disclosures on November 12, 2026. While this delinquency measure ticked up, shorter-term early delinquencies (15 to 90 days past due) improved, falling to 4.2% from 4.5% in the second quarter of 2026, according to the same November 12 disclosures. The positive earnings performance prompted some Wall Street analysts to adjust their valuation models and outlooks, though overall optimism is tempered by a restrictive macroeconomic backdrop in Brazil.

The country's benchmark Selic interest rate stood at 13.75% as of November 15, 2026, according to Banco Central do Brasil data, which continues to pressure borrowers. Despite this, the high-rate environment has also supported the bank's net interest margins, which reached 9.96% during the quarter according to its earnings report.

Looking ahead, Inter&Co is scheduled to report its fourth-quarter and full-year 2026 financial results on February 11, 2027. Investors will be monitoring if the bank can maintain its annualized return on equity, which climbed to 15.8% in the third quarter of 2026 according to its November 12, 2026, financial filing, and if its active monetization strategy can continue to offset credit provisions in a high-rate environment.

In your brokerage app

Inter&Co Inc. is listed directly on the Nasdaq under the ticker INTR. Because it is a primary US listing rather than an ADR, US retail investors can trade it with zero depository receipt fees. For those seeking broader exposure to the Brazilian financial and mid-cap sectors, the stock is also held in specialized exchange-traded funds, such as the iShares MSCI Brazil Small-Cap ETF (EWZS) and the VanEck Brazil Small-Cap ETF (BRF), both of which maintain allocations in Inter's shares, according to fund holdings data.