Benzinga | Jan 26, 2021 07:10AM EST

XP Inc. Highlights Reaching Of R$660B Assets Under Custody And 2.8M Active Clients

XP Inc. (NASDAQ:XP), a leading, technology-driven financial services platform and a trusted provider of low-fee financial products and services in Brazil, announced today 4Q20 KPIs and provided an update on the Company's collateralized credit business.

Assets Under Custody (in R$ billion)

Total AUC reached R$660 billion at December 31, up 61% year-over-year and 17% quarter-over-quarter. Year-over-year growth was driven by R$198 billion of net inflows and R$53 billion of market appreciation. Despite last year's uncertainty and volatility, XP delivered solid AUC growth, while continuing to strengthen brand recognition among Brazilian investors.

"During our IPO process in 2019, XP had R$350 billion of AUC. Fast forward to the end of 2020, and we almost doubled our AUC. I think the main opportunity we have ahead of us is to double our AUC one more time, especially now as we begin to offer a full suite of banking services and products. This could be achieved by reaching 100% of Share of Wallet within our existing clients. The R$1 trillion milestone looks closer than ever", said Guilherme Benchimol, XP Inc.'s founder and CEO.