XP (XP) 20-F 13 Apr 22 2021 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2021shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-39155
Entity Registrant Name	XP Inc.
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Av. Chedid Jafet, 75, Torre Su
Entity Address, Address Line Two	30th floor
Entity Address, City or Town	Vila Olímpia
Entity Address, Country	BR
Entity Address, Postal Zip Code	04551-065
Title of 12(b) Security	Class A common shares, par value US$0.00001 per share
Trading Symbol	XP
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0001787425
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	Av. Chedid Jafet, 75, Torre Sul
Entity Address, Address Line Two	30th floor
Entity Address, City or Town	Vila Olímpia
Entity Address, Country	BR
Entity Address, Postal Zip Code	04551-065
Contact Personnel Name	Bruno Constantino Alexandre dos Santos
City Area Code	+55 (11)
Local Phone Number	3075-0429
Class A Common Share
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	424,153,735,000
Class B Common Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	135,394,989,000

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers Auditores Independentes Ltda.
Auditor Firm ID	1351
Auditor Location	São Paulo, Brazil

Consolidated balance sheets

Consolidated balance sheets R$ in Thousands, $ in Thousands	Dec. 31, 2021BRL (R$)	Dec. 31, 2020BRL (R$)
Statement of financial position [abstract]
Cash	R$ 2485641	R$ 1954788
Financial assets	127,745,263	90,190,827
Fair value through profit or loss	69,123,669	57,149,446
Securities	58,179,955	49,590,013
Derivative financial instruments	10,943,714	7,559,433
Fair value through other comprehensive income	32,332,377	19,039,044
Securities	32,332,377	19,039,044
Evaluated at amortized cost	26,289,217	14,002,337
Securities	2,238,807	1,828,704
Securities purchased under agreements to resell	8,894,531	6,627,409
Securities trading and intermediation	1,405,651	1,051,566
Accounts receivable	469,086	506,359
Loan operations	12,819,627	3,918,328
Other financial assets	461,515	69,971
Other assets	4,688,125	1,760,999
Recoverable taxes	153,316	127,623
Rights-of-use assets	284,509	183,134
Prepaid expenses	3,982,750	1,393,537
Other	267,550	56,705
Deferred tax assets	1,273,069	505,046
Investments in associates and joint ventures	2,013,365	699,907
Property and equipment	313,964	204,032
Goodwill and Intangible assets	820,975	713,562
Total assets	139,340,402	96,029,161
Financial liabilities	91,358,151	70,600,989
Fair value through profit or loss	14,573,385	10,056,806
Securities	2,665,202	2,237,442
Derivative financial instruments	11,908,183	7,819,364
Evaluated at amortized cost	76,784,766	60,544,183
Securities sold under repurchase agreements	26,281,345	31,839,344
Securities trading and intermediation	15,597,555	20,303,121
Financing instruments payable	24,429,086	5,551,849
Accounts payables	867,526	859,550
Borrowings	1,928,782	284,087
Other financial liabilities	7,680,472	1,706,232
Other liabilities	33,533,688	14,522,206
Social and statutory obligations	1,022,212	667,448
Taxes and social security obligations	549,651	435,849
Private pension liabilities	31,921,400	13,387,913
Provisions and contingent liabilities	29,308	19,711
Other	11,117	11,285
Deferred tax liabilities	28,934	8,352
Total liabilities	124,920,773	85,131,547
Equity attributable to owners of the Parent company	14,416,836	10,894,609
Issued capital	23	23
Capital reserve	14,923,315	10,663,942
Other comprehensive income	(334,563)	230,644
Treasury shares	(171,939)	0
Non-controlling interest	2,793	3,005
Total equity	14,419,629	10,897,614
Total liabilities and equity	R$ 139340402	R$ 96029161

Consolidated statements of inco

Consolidated statements of income and of comprehensive income - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Profit or loss [abstract]
Net revenue from services rendered	R$ 6196465	R$ 5016488	R$ 3595772
Net income (loss) from financial instruments at amortized cost and at fair value through other comprehensive income	(1,559,464)	183,393	199,947
Net income from financial instruments at fair value through profit or loss	7,440,111	2,951,724	1,332,089
Total revenue and income	12,077,112	8,151,605	5,127,808
Operating costs	(3,430,109)	(2,645,359)	(1,596,650)
Selling expenses	(227,483)	(134,915)	(155,115)
Administrative expenses	(4,692,698)	(3,013,598)	(1,891,481)
Other operating income (expenses), net	324,354	171,053	153,357
Expected credit losses	(92,560)	(55,564)	(9,410)
Interest expense on debt	(135,732)	(52,671)	(84,400)
Share of profit or (loss) in joint ventures and associates	(7,710)	862	0
Income before income tax	3,815,174	2,421,413	1,544,109
Income tax expense	(222,714)	(339,924)	(454,625)
Net income for the year	3,592,460	2,081,489	1,089,484
Items that can be subsequently reclassified to income
Foreign exchange variation of investees located abroad	20,977	57,439	6,823
Gains (losses) on net investment hedge	(18,758)	(60,563)	(7,133)
Changes in the fair value of financial assets at fair value through other comprehensive income	(549,017)	24,203	698
Other comprehensive income (loss) for the period, net of tax	(546,798)	21,079	388
Total comprehensive income for the year	3,045,662	2,102,568	1,089,872
Net income attributable to:
Owners of the Parent company	3,589,416	2,076,430	1,080,484
Non-controlling interest	3,044	5,059	9,000
Total comprehensive income attributable to:
Owners of the Parent company	3,042,618	2,097,509	1,080,872
Non-controlling interest	R$ 3044	R$ 5059	R$ 9000
Earnings per share from total income attributable to the ordinary equity holders of the company
Basic earnings per share (in R$ per share)	R$ 6.4211	R$ 3.7597	R$ 2.1125
Diluted earnings per share (in R$ per share)	R$ 6.2588	R$ 3.7138	R$ 2.1115

Consolidated statements of chan

Consolidated statements of changes in equity - BRL (R$) R$ in Thousands	Total	Issued Capital	Additional paid-in capital	Other Reserves	Other comprehensive income	Retained Earnings	Treasury shares	Total	Non-Controlling interest
Balance at beginning of period at Dec. 31, 2018	R$ 2091712	R$ 21	R$ 927895	R$ 947696	R$ 209165	R$ 0	R$ 0	R$ 2084777	R$ 6935
Net income for the year	1,089,484					1,080,484		1,080,484	9,000
Other comprehensive income, net	388				388			388
Proceeds from the issuance of shares	4,504,826	2	4,504,824					4,504,826
Transactions costs from proceeds from the issuance of shares	(22,824)		(22,824)					(22,824)
Share based plan	5,371			5,371				5,371
Other changes in equity	(1,855)				374			374	(2,229)
Transfer to capital reserves	0			580,484		(580,484)
Dividends distributed	(511,143)					(500,000)		(500,000)	(11,143)
Balance at end of period at Dec. 31, 2019	7,155,959	23	5,409,895	1,533,551	209,927	0	0	7,153,396	2,563
Net income for the year	2,081,489					2,076,430		2,076,430	5,059
Other comprehensive income, net	21,079				21,079			21,079
Proceeds from the issuance of shares	1,412,930		1,412,930					1,412,930
Transactions costs from proceeds from the issuance of shares	(1,649)		(1,649)					(1,649)
Share based plan	232,791			232,785				232,785	6
Other changes in equity	582				(362)			(362)	944
Transfer to capital reserves	0			2,076,430		(2,076,430)
Dividends distributed	(5,567)								(5,567)
Balance at end of period at Dec. 31, 2020	10,897,614	23	6,821,176	3,842,766	230,644	0	0	10,894,609	3,005
Net income for the year	3,592,460					3,589,416		3,589,416	3,044
Other comprehensive income, net	(546,798)				(546,798)			(546,798)
Proceeds from the issuance of shares	112,642			112,642				112,642
Share based plan	561,457			561,455				561,455	2
Other changes in equity	(22,781)			(4,140)	(18,409)			(22,549)	(232)
Treasury shares	(171,939)						(171,939)	(171,939)
Transfer to capital reserves	0			3,589,416		(3,589,416)
Dividends distributed	(3,026)								(3,026)
Balance at end of period at Dec. 31, 2021	R$ 14419629	R$ 23	R$ 6821176	R$ 8102139	R$ 334563	R$ 0	R$ 171939	R$ 14416836	R$ 2793

Consolidated statements of cash

Consolidated statements of cash flows - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Income before income tax	R$ 3815174	R$ 2421413	R$ 1544109
Adjustments to reconcile income before income taxes
Depreciation of property, equipment and right-of-use assets	68,618	67,422	53,080
Amortization of intangible assets	163,112	75,839	37,630
Loss or write-off of property, equipment, intangible assets and leases, net	20,367	73,140	11,245
Share of profit or (loss) in joint ventures and associates	7,710	(862)	0
Expected credit losses on financial assets	92,560	55,564	9,410
(Reversal of) Provision for contingencies, net	5,325	2,045	(1,601)
Net foreign exchange differences	506,510	1,478	3,636
Share based plan	561,457	232,791	5,371
Interest accrued	181,731	56,923	86,862
Changes in assets and liabilities
Securities (assets and liabilities)	(21,904,316)	(42,954,505)	(20,188,931)
Derivative financial instruments (assets and liabilities)	674,837	1,023,937	825,719
Securities trading and intermediation (assets and liabilities)	(5,086,154)	10,605,139	4,201,246
Securities purchased under agreements to resell	(2,269,321)	2,862,311	(2,919,480)
Accounts receivable	37,160	(46,247)	(243,893)
Loan operations	(8,918,608)	(3,925,042)	(386)
Prepaid expenses	(2,589,213)	(1,303,853)	7,040
Other assets and other financial assets	(674,697)	(23,078)	(14,162)
Securities sold under repurchase agreements	(5,557,999)	16,200,937	8,997,713
Accounts payable	(133,576)	564,324	132,235
Financing instruments payable	14,408,581	5,126,930	89,669
Social and statutory obligations	354,764	174,725	241,033
Tax and social security obligations	278,609	182,391	(9,223)
Private pension liabilities	18,533,487	9,628,823	3,743,031
Other liabilities and other financial liabilities	4,271,361	1,000,007	8,828
Cash from operations	(3,152,521)	2,102,552	(3,379,819)
Income tax paid	(783,816)	(518,971)	(402,574)
Contingencies paid	(2,565)	(1,629)	(3,172)
Interest paid	(81,427)	(71,224)	(28,427)
Net cash flows from (used in) operating activities	(4,020,329)	1,510,728	(3,813,992)
Investment activities
Acquisition of intangible assets	(217,569)	(146,368)	(88,949)
Acquisition of property and equipment	(135,444)	(145,164)	(72,499)
Acquisition of subsidiaries, net of cash acquired	(40,857)	(62,443)	0
Investment in associates and joint ventures	(756,857)	(228,035)	0
Net cash flows used in investing activities	(1,150,727)	(582,010)	(161,448)
Financing activities
Proceeds from borrowings	1,570,639	0	0
Acquisitions of debt securities issued	4,191,280	0	400,000
Payments of borrowings and lease liabilities	(76,371)	(152,868)	(123,332)
Payment of debt securities	(177,826)	(464,717)	(11,815)
Dividends paid to owners of the parent	0	0	(500,000)
Proceeds from the issuance of shares	0	1,411,281	4,482,002
Transactions with non-controlling interests	(231)	582	(1,855)
Dividends paid to non-controlling interests	(3,026)	(5,567)	(11,143)
Proceeds from SPAC issuance of shares	1,134,797	0	0
Net cash flows from financing activities	6,639,262	788,711	4,233,857
Net increase (decrease) in cash and cash equivalents	1,468,206	1,717,429	258,417
Cash and cash equivalents at the beginning of the fiscal year	2,660,388	887,796	626,863
Effects of exchange rate changes on cash and cash equivalents	(376,733)	55,163	2,516
Cash and cash equivalents at the end of the fiscal year	3,751,861	2,660,388	887,796
Cash	2,485,641	1,954,788	109,922
Securities purchased under agreements to resell presented as cash equivalents	1,071,328	593,673	654,057
Interbank certificate deposits	R$ 194892	R$ 111927	R$ 123817

Operations

Operations	12 Months Ended
	Dec. 31, 2021
Operations [Abstract]
Operations	Operations XP Inc. (the “Company”) is a Cayman Island exempted company with limited liability, incorporated on August 29, 2019. The registered office of the Company is Ugland House, 121 South Church Street in George Town, Grand Cayman. The Company’s principal executive office is located in the city of São Paulo, Brazil. The Group carried out a corporate reorganization in order to prepare the structure for the Initial Public Offering of its shares. As a result, XP Inc. was incorporated in 2019 and is currently the entity which is registered with the U.S. Securities and Exchange Commission (“SEC”) and for which these financial statements are presented. XP Inc. is a holding company controlled by XP Controle Participações S.A. and XP Control LLC, companies which holds together 68.28% of voting rights and whose is ultimately controlled by a group of individuals. XP Inc. and its subsidiaries (collectively, “Group” or “XP Group”) is a leading, technology-driven financial services platform and a trusted provider of low-fee financial products and services in Brazil. XP Group are principally engaged in providing its customers, represented by individuals and legal entities in Brazil and abroad, various financial products, services, digital content and financial advisory services, mainly acting as broker-dealer, including securities brokerage, private pension plans, commercial and investment banking products such as loan operations, transactions in the foreign exchange markets and deposits, through our brands that reach clients directly and through network of Independent Financial Advisers (“IFAs”). These consolidated financial statements were approved by the Board of Director’s meeting on April 5, 2022. 1.1 Follow-on public offering On July 1, 2020, XP Inc. concluded an underwritten public offering of 22,465,733 Class A common shares offered by General Atlantic (XP) Bermuda, L.P. and XP Controle Participações S.A. (“selling shareholders”) at a public offering price of US$42.50 per share, including the full exercise of the underwriters’ option to purchase an additional 2,930,313 Class A common shares from the selling shareholders. The Company did not receive any proceeds from the sale of Class A common shares by the selling shareholders and there were no changes in the Company’s control structure as a result of such transaction. On December 7, 2020, XP Inc closed of its underwritten secondary public offering of 31,654,894 Class A common shares, 7,130,435 of which were issued and sold by the Company and 24,524,459 of which were sold by ITB Holding Brasil Participações Ltda. The offering was made pursuant to a registration statement on Form F-1 filed with the SEC. The offering price per Class A common share was US$39.00, resulting in gross proceeds of US$283,087 thousand (or R$1,444,530) to XP Inc, deducting R$31,599 thousand as underwriting discounts and commissions. Additionally, the Company incurred in R$7,271 thousand regarding other offering expenses, of which R$5,622 thousand was recognized directly in income statements and an amount of R$1,649 in equity as transaction costs. 1.2 Spin-off of Itaú’s investment in XP Inc. In January 2021, XP Inc. reached an agreement with Itausa S.A. in connection with Itaú’s spin-off of its investment in XP Inc., and entered into two agreements regarding the corporate reorganization announced by Itaú Unibanco Holding S.A. on December 31, 2020 (Itaú Agreements).The U.S. Federal Reserve Board’s (FED) and the Brazilian Central Bank (BACEN) approved the legal and accounting segregation of the Itaú’s investments in XP Inc. to XPart on May 31, 2021 and July 26, 2021 respectively. On June 22, 2021, XP Inc. filed a registration statement on Form F-4 with the U.S. Securities and Exchange Commission, or the “SEC” as part of the Itaú spin-off of its investment in XP Inc. The prospectus relates to the Class A common shares, or “XP Shares,” of XP Inc., including Class A common shares in the form of Brazilian Depositary Receipts of XP (each representing one XP Share), or the “XP BDRs.” On October 1, 2021, the corporate reorganization was completed and XPart ceased to exist. On October 4, 2021, XP Inc. started trading its BDR (“Brazilian Depositary Receipts”) under symbol XPBR31, on Brazilian stock exchange B3 (Brasil, Bolsa, Balcão). The impact of this transaction is presented in Note 25 (b) and (c).

Basis of preparation of the fin

Basis of preparation of the financial statements	12 Months Ended
	Dec. 31, 2021
Disclosure Of Basis Of Preparation Of Financial Statements Abstract [Abstract]
Basis of preparation of the financial statements	Basis of preparation of the financial statements (i) Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements have been prepared on a historical cost basis, except for financial instruments that have been measured at fair value. The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group's accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 4. The consolidated financial statements are presented in Brazilian reais (“R$”),our functional currency, and all amounts disclosed in the financial statements and notes have been rounded off to the nearest thousand currency units unless otherwise stated. The balance sheet is presented in order of liquidity of assets and liabilities. The timing of their realization or settlement is dependent not just on their liquidity, but also on management’s judgements on expected movements in market prices and other relevant aspects. (ii) Changes to IFRS The following amendments became effective as at 1 January 2021: • Interest Rate Benchmark Reform – Phase 2 – Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16; • Covid-19-Related Rent Concessions beyond 30 June 2021 Amendment to IFRS 16; The adoption of the amendments listed above did not have a material impact on these consolidated financial statements. (iii) New standards and interpretations not yet adopted Certain new accounting standards and interpretations have been published that are not mandatory for the 31 December 2021 reporting period and have not been early adopted by the Group. These standards are not expected to have a material impact on the consolidated financial statements. (iv) Basis of consolidation The consolidated financial statements comprise the consolidated balance sheets of the Group as of December 31, 2021 and 2020 and the consolidated statements of income and comprehensive income, consolidated statements of cash flows and consolidated statements of changes in equity for each of the years ended December 31, 2021, 2020 and 2019. a) Subsidiaries Subsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. The acquisition method of accounting is used to account for business combinations by the Group (refer to Note 5). Intercompany transactions, balances and unrealized gains on transactions between Group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of income and of comprehensive income, statement of changes in equity and balance sheet respectively. b) Associates Associates are companies in which the investor has a significant influence but does not hold control. Investments in these companies are initially recognized at cost of acquisition and subsequently accounted for using the equity method. Investments in associates and joint ventures include the goodwill identified upon acquisition, net of any cumulative impairment loss. c) Interests in associates and joint ventures measured at fair value The Group has investments in associates measured at fair value in accordance with item 18 of IAS 28 – Investments in Associates and Joint Ventures. These investments are held through XP FIP Managers, which is considered to be a venture capital organization. In determining whether the fund meets the definition of a venture capital organization, management considered the investment portfolio features and objectives. The portfolio classified in this category has the objective to generate growth in the value of its investments in the medium term and have an exit strategy. Additionally, the performance of these portfolio is evaluated and managed considering a fair value basis of each investment. d) Joint ventures The Group has joint ventures whereby the parties that have joint control of the arrangement have rights to the net assets. e) Equity method Under the equity method of accounting, the investments are initially recognized at cost and adjusted thereafter to recognize the Group’s share of the post-acquisition profits or losses of the investee in profit or loss, and the Group’s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognize as a reduction in the carrying amount of the investment. Unrealized gains on transactions between the Group and its associates and joint ventures are eliminated to the extent of the Group’s interest in these entities. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the Group. If its interest in the associates and joint ventures decreases, but the Group retains significant influence or joint control, only the proportional amount of the previously recognized amounts in Other comprehensive income is reclassified in Income, when appropriate. (v) Segment reporting In reviewing the operational performance of the Group and allocating resources, the chief operating decision maker of the Group (“CODM”), who is the Group’s Chief Executive Officer (“CEO”) and the Board of Directors (“BoD”), represented by statutory directors holders of ordinary shares of the immediate parent of the Company, reviews selected items of the statement of income and of comprehensive income. The CODM considers the whole Group as a single operating and reportable segment, monitoring operations, making decisions on fund allocation and evaluating performance based on a single operating segment. The CODM reviews relevant financial data on a combined basis for all subsidiaries. Disaggregated information is only reviewed at the revenue level (Note 28), with no corresponding detail at any margin or profitability levels. The Group’s revenue, results and assets for this one reportable segment can be determined by reference to the consolidated statement of income and of comprehensive income and consolidated balance sheet. See Note 28 (c) for a breakdown of revenues and income and selected assets from external customers by country of domicile. (vi) Foreign currency translation (i) Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in Brazilian Reais (“R$”), which is the Group functional and presentation currency. The functional currency for all the Company’s subsidiaries in Brazil is also the Brazilian reais. Certain subsidiaries outside of Brazil have different functional currencies, including US Dollar ("USD"), Euro ("EUR"), Pound sterling (“GBP”) and Swiss Franc (“CHF”). (ii) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized in profit or loss. They are deferred in equity if they relate to qualifying cash flow hedges and qualifying net investment hedges or are attributable to part of the net investment in a foreign operation. Foreign exchange gains and losses that relate to borrowings are presented in the statement of income. All other foreign exchange gains and losses are presented in the statement of income on a net basis within interest expense on debt. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in profit or loss as part of the fair value gain or loss and translation differences on non-monetary assets such as equities classified as at fair value through other comprehensive income are recognized in other comprehensive income. (iii) Group companies The results and financial position of foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; • income and expenses for each statement of income and statement of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); and • all resulting exchange differences are recognized in other comprehensive income. On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognized in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit or loss, as part of the gain or loss on sale.

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2021
Summary of Significant Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies This note provides a description of the significant accounting policies adopted in the preparation of these consolidated financial statements in addition to other policies that have been disclosed in other notes to these consolidated financial statements. These policies have been consistently applied to all periods presented, unless otherwise stated. (i) Business combinations The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the: • fair values of the assets transferred; • liabilities incurred to the former owners of the acquired business; • equity interests issued by the Group; • fair value of any asset or liability resulting from a contingent consideration arrangement; and • fair value of any pre-existing equity interest in the subsidiary. Identifiable assets acquired, and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expensed as incurred. The excess of the consideration transferred, amount of any non-controlling interest in the acquired entity, and acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognized directly in profit or loss as a bargain purchase. Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Contingent consideration, when applicable, is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquirer is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss. (ii) Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. 1) Financial assets Initial recognition and measurement On initial recognition, financial assets are classified as instruments measured at amortized cost, fair value through other comprehensive income (“FVOCI”) and fair value through profit and loss (“FVPL”). The classification of financial assets at initial recognition is based on either (i) the Group’s business model for managing the financial assets and (ii) the instruments’ contractual cash flows characteristics. For a financial asset to be classified and measured at amortized cost or FVOCI, it needs to give rise to cash flows that are 'Solely Payments of Principal and Interest' (the "SPPI" criterion) on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. The Group's business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model considers whether the Group’s objective is to receive cash flows from holding the financial assets, from selling the assets or a combination of both. Purchases or sales of financial assets that require delivery of assets within a time frame set by regulation or market practice (regular way trades) are recognized on the trade date, i.e., the date that the Group commits to purchase or sell the asset. Classification and subsequent measurement (i) Financial assets at FVPL Financial assets at FVPL include Securities, financial assets designated upon initial recognition at FVPL, or financial assets mandatorily required to be measured at fair value. This category includes securities and Derivative financial instruments, including equity instruments which the Group had not irrevocably elected to classify at FVOCI. Financial assets are classified as fair value through profit and loss if they either fail the contractual cash flow test or in the Group’s business model are acquired for the purpose of selling or repurchasing in the near term. Financial assets may be designated at FVPL on initial recognition if doing so eliminates, or significantly reduces, an accounting mismatch. Derivative financial instruments, including separated embedded derivatives, are also classified as Securities unless they are designated as effective hedging instruments. Financial assets with cash flows that do not meet the SPPI criteria are classified and measured at FVPL, irrespective of the business model. Financial assets at FVPL are carried in the statement of financial position at fair value with net changes in fair value recognized in profit or loss. The net gain or loss recognized in profit or loss includes any dividend or interest earned on the financial asset. Financial assets measured at FVPL consist of Securities owned and sold short. A derivative embedded in a hybrid contract, with a financial liability or non-financial host, is separated from the host and accounted for as a separate derivative if: (i) the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; (ii) and the hybrid contract is not measured at FVPL. Embedded derivatives are measured at fair value with changes in fair value recognized in profit or loss. Reassessment only occurs if there is either a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the FVPL category. A derivative embedded within a hybrid contract containing a financial asset host is not accounted for separately. The financial asset host together with the embedded derivative is required to be classified in its entirety as a financial asset at fair value through profit or loss. Investments held in trust account The Group has a certain class of securities owned by one of our subsidiaries, which qualify as financial instruments, primarily due to their short-term nature. These securities are classified as FVPL. The Group’s investments held in the trust account are comprised of money market funds and are recognized at fair value with the changes in fair value recognized in the consolidated statements of income. The estimated fair value of the investments held in the trust account is determined using available market information. (i) Financial assets at FVOCI The Group measures financial assets at FVOCI if both of the following conditions are met: • The financial asset is held within a business model with the objective of both holding to collect contractual cash flows and to sell. • The contractual terms of the financial asset give rise on specified dates to cash flows that meet the SPPI criteria. For financial assets at FVOCI, interest income, foreign exchange revaluation and impairment losses or reversals are recognized in profit or loss. The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to profit or loss. The Group's financial assets at FVOCI includes certain debt instruments. Upon initial recognition, the Group can elect to classify irrevocably equity investments at FVOCI when they meet the definition of equity under IAS 32 - "Financial Instruments: Presentation" and are not financial assets at FVPL. The classification is determined on an instrument-by-instrument basis. Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as income in the profit or loss when the right of payment has been established, except when the Group benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at FVOCI are not subject to impairment assessment. The Group has no equity instruments that have been irrevocably classified under this category. (ii) Financial assets at amortized cost A financial asset is measured at amortized cost if both of the following conditions are met: • The financial asset is held within a business model with the objective to hold the financial asset in order to collect contractual cash flows. • The contractual terms of the financial asset give rise on specified dates to cash flows that meet the SPPI criteria. Financial assets at amortized cost are subsequently measured using the Effective Interest Rate ("EIR") method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired. The Group's financial assets at amortized cost mainly includes ‘Securities’, 'Securities purchased under agreements to resell', 'Securities trading and intermediation', ‘Loan operations’, 'Accounts receivable' and 'Other financial assets. The Group reclassifies financial assets only when its business approach for managing those assets changes. Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Group's consolidated statement of financial position) when: • The contractual rights to receive cash flows from the asset have expired. • The Group has transferred its contractual rights to receive cash flows from the asset or has assumed a contractual obligation to pay the received cash flows in full without material delay to a third party under a "pass-through" arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset; or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Group has transferred its contractual rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay. Expected credit loss on financial assets The Group recognizes expected credit losses ("ECLs") for all debt instruments not held at FVPL. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. The Group classifies assets in three stages to measure the expected credit loss, in which the financial assets migrate from one stage to another in accordance with the changes in credit risk. Stage 1: overdue less than 30 days. It is understood that a financial instrument in this stage does not present a significant increase in the risk since initial recognition. The provision for this asset represents the expected loss resulting from possible noncompliance in the next 12 months. Stage 2: overdue 30 days. If a significant increase in the risk is identified from the initial recognition, and no deterioration is realized, the financial instrument falls within this stage. In this case, the amount related to the provision for expected loss reflects the estimated loss of the financial instrument remaining life (lifetime). Stage 3: overdue 90 days. The Group considers a financial asset in default when contractual payments are 90 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before considering any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. For accounts receivables, and other financial contract assets, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. For debt instruments at FVOCI, the Group applies the low credit risk simplification at every reporting date, the Group evaluates whether the debt instrument is considered to have low credit risk using all reasonable and supportable information that is available without undue cost or effort. In making that evaluation, the Group reassesses the internal credit rating of the debt instrument. In addition, the Group considers that there has been a significant increase in credit risk when contractual payments are more than 30 days past due. 2) Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at FVPL, amortized cost or as Derivative financial instruments designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of amortized cost, net of directly attributable transaction costs. The Group's financial liabilities include 'Securities’, 'Derivative financial instruments', 'Securities purchased under agreements to resell', 'Securities trading and intermediation', long-term debts such as 'Borrowings and ‘Financing Instruments payable – Debt securities', 'Accounts payables' and 'Other financial liabilities. Classification and subsequent measurement (i) Financial liabilities at FVPL Financial liabilities at FVPL include securities loaned and derivatives financial instruments designated upon initial recognition as at FVPL. Financial liabilities are classified as securities loaned if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as fair value through PL unless they are designated as effective hedging instruments. Gains or losses on liabilities at fair value through PL are recognized in profit or loss. Financial liabilities designated upon initial recognition at FVPL are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. Securities loaned, and derivative financial instruments are classified as fair value through PL and recognized at fair value. (ii) Financial liabilities designated at FVPL Classification and subsequent measurement The Group applied the fair value option as an alternative measurement for selected financial liabilities. Financial liabilities can be irrevocably designated as measured at FVPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases, or a group of financial instruments is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy. The amount of change in the fair value of the financial liabilities designated at FVPL that is attributable to changes in the credit risk of that liabilities shall be presented in other comprehensive income. See more information in Note 6. (iii) Amortized cost After initial recognition, these financial liabilities are subsequently measured at amortized cost using the Effective Interest Method (“EIR”) method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the EIR. This category generally applies to Securities sold under repurchase agreements, ‘Securities trading and intermediation’, 'Borrowings', 'Financing Instruments Payable', 'Accounts payables', ‘Lease liabilities’ and 'Other financial liabilities'. (iv) Commitments subject to possible redemption XPAC Acquisition Corp. redeemable shares The Group accounts for the common stock subject to redemption in cash held by the non-controlling interest holders of XPAC Acquisition Corp., a consolidated subsidiary, as a financial liability measured at amortized cost. The instrument is initially recognized at fair value, net of derivative warrant liabilities component and the corresponding eligible transaction costs. The warrant component issued to the non-controlling interest holders of XPAC Acquisition Corp. are separately accounted as derivatives and measured at fair value with the change in fair value recorded in the statement of income. Derecognition A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in profit or loss. 3) Fair value of financial instruments The fair value of financial instruments actively traded in organized financial markets is determined based on purchase prices quoted in the market at the close of business at the reporting date, without deducting transaction costs. The fair value of financial instruments for which there is no active market is determined by using measurement techniques. These techniques may include the use of recent market transactions (on an arm's length basis); reference to the current fair value of another similar instrument; analysis of discounted cash flows or other measurement models. See Note 34. 4) Derivative financial instruments and hedging activities Derivative financial instruments are financial contracts, the value of which is derived from the value of the underlying assets, interest rates, indexes or currency exchange rates. Derivatives are initially recognized at fair value on the date a derivative contract is entered into, and they are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument and, if so, the nature of the item being hedged. The group designates certain derivatives as either: • hedges of the fair value of recognized assets or liabilities or a firm commitment (fair value hedges), or • hedges of a net investment in a foreign operation (net investment hedges). At inception of the hedge relationship, the group documents the economic relationship between hedging instruments and hedged items, including whether changes in the cash flows of the hedging instruments are expected to offset changes in the cash flows of hedged items. The group documents its risk management objective and strategy for undertaking its hedge transactions. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to profit or loss over the remaining period until maturity, using a recalculated effective interest rate. a) Hedge ineffectiveness Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. To evaluate the effectiveness and to measure the ineffectiveness of such strategies, The Group uses the Dollar Offset Method. The Dollar Offset Method is a quantitative method that consists of comparing the change in fair value or cash flows of the hedging instrument with the change in fair value or cash flows of the hedged item attributable to the hedged risk. b) Derivative warrant liabilities The Group evaluates if the warrants issued in connection with the Initial Public Offering (the “Public Warrants”) and the Private Placement Warrants issued by XPAC Acquisition Corp. are derivatives or contain features that qualify as embedded derivatives in accordance with IFRS 9 – Financial Instruments. The Group’s derivatives instruments are recorded at Financial instruments measure at fair value through profit or loss. Accordingly, the Group recognizes the warrant as financial liabilities at fair value and remeasures the warrants at fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Group’s consolidated statements of income. The fair value has been measured based on the listed market price of such warrants. (iii) Cash and cash equivalents Cash is not subject to a significant risk of change in value and are held for the purpose of meeting short-term cash commitments and not for investments or other purposes. Transactions are considered short-term when they have maturities in three months or less from the date of acquisition. For purposes of consolidated statement of cash flows, cash equivalents refer to collateral held securities purchased under agreements to resell and bank deposit certificates measured at fair value through profit and loss that are readily convertible into a known cash amount and for which are no subject to a significant risk of change in value. (iv) Securities purchased under agreements to resell and obligations related to securities sold under repurchase agreements The Group has purchased securities with resale agreement (resale agreements) and sold securities with repurchase agreement (repurchase agreement) of financial assets. Resale and repurchase agreements are accounted for under Securities purchased under agreements to resell and Securities sold under repurchase agreements, respectively. The difference between the sale and repurchase prices is treated as interest and recognized over the life of the agreements using the effective interest rate method. The financial assets accepted as collateral in our resale agreements can be used by us, if provided for in the agreements, as collateral for our repurchase agreements or can be sold. (v) Securities trading and intermediation (receivable and payable) Refers to transactions at B3 S.A. – Brasil, Bolsa, Balcão (“B3”) on behalf of and on account of third parties. Brokerages on these transactions are classified as revenues and service provision expenses are recognized at the time of the transactions. These balances are offset, and the net amount shown in the balance sheet when, and only when, there is a legal and enforceable right to offset and the intention to liquidate them on a net basis, or to realize the assets and settle the liabilities simultaneously. Amounts due from and to customers represent receivables for securities sold and payables for securities purchased that have been contracted for but not yet settled or delivered on the balance sheet date respectively. The due from customers balance is held for collection. These amounts are subdivided into the following items: • Cash and settlement records - Represented by the registration of transactions carried out on the stock exchanges on its own behalf and for customers; and • Debtors/Creditors pending settlement account - debtor or creditor balances of customers, in connection with transactions with fixed income securities, shares, commodities and financial assets, pending settlement as of the statement of reporting date. Sales transactions are offset and, in the event, the final amount is a credit, it will be recorded in liabilities, on the other hand if this amount is debt, it will be recorded in assets, provided that the offset balances refer to the same counterparty. These amounts are recognized initially at fair value and subsequently measured at amortized cost. At each reporting date, the Group shall measure the loss allowance on amounts due from customers at an amount equal to the lifetime expected credit losses if the credit risk has increased significantly since initial recognition. If, at the reporting date, the credit risk has not increased significantly since initial recognition, the Group shall measure the loss allowance at an amount equal to 12-month expected credit losses. Significant financial difficulties of the customer, probability that the customer will enter bankruptcy or financial reorganization, and default in payments are all considered indicators that a loss allowance may be required. If the credit risk increases to the point that it is considered to be credit impaired, interest income will be calculated based on the gross carrying amount adjusted for the loss allowance. A significant increase in credit risk is defined by management as any contractual payment which is more than 30 days past due. Any contractual payment which is more than 90 days past due is considered credit impaired. The estimated credit losses for brokerage clients and related activity were immaterial for all periods presented. (vi) Loan operations Loan operations consist in arrangements under which clients can borrow stipulated amounts under defined terms and conditions. They are subsequently measured at amortized cost using the effective interest method, less expected credit loss. See note 10 for further information about the Group’s accounting for Loan Operations and note 3(vi) for a description of the Group’s Expected Losses on Financial Assets. Interest income from these financial assets is included in Net income from financial instruments at amortized cost using the effective interest rate method. Any gain or loss arising on derecognition of the loan operations is recognized directly in profit or loss and presented in Note 14. Expected credit losses are presented as a separate line item in profit or loss. (vii) Prepaid expenses Prepaid expenses are recognized as an asset in the balance sheet. These expenditures include incentives to IFAs, prepaid software licenses, certain professional services and insurance premiums. Prepaid expenses are amortized in profit or loss in the period in which the benefits of such incentives are realized. (viii) Leases Right-of-use assets The Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Group is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. Right-of-use assets are subject to impairment. Lease liabilities At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating a lease, if the lease term reflects the Group exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Short-term leases and leases of low-value assets The Group applies the short-term lease recognition exemption to its short-term leases of properties (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered of low value. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease term. Significant judgement in determining the lease term of contracts with renewal options The Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised. The Group has the option, under some of its leases to lease the assets for additional terms. The Group applies judgement in evaluating whether it is reasonably certain to exercise the option to renew. That is, it considers all relevant factors that create an economic incentive for it to exercise the renewal. After the commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise (or not to exercise) the option to renew (e.g., a change in business strategy). (ix) Property and equipment All property and equipment are stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditures that are directly attributable to the acquisition of the items and, if applicable, net of tax credits. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item is material and can be measured reliably. All other repairs and maintenance expenditures are charged to profit or loss during the period in which they are incurred. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follow

Significant accounting judgemen

Significant accounting judgements, estimates and assumptions	12 Months Ended
	Dec. 31, 2021
Significant and Estimated Judgements [Abstract]
Significant accounting judgements, estimates and assumptions	Significant accounting judgements, estimates and assumptions The preparation of the financial statements according to accounting policies described in Note 3 requires Management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts for assets, liabilities, revenues and expenses. Actual results may differ from these estimates. In addition, this note also explains where there have been actual adjustments this year as a result of and error and of changes to previous estimates. Information about uncertainties on assumptions and estimates that have a significant risk of resulting in a material adjustment in the future fiscal year is included as follows: (i) Estimation fair value of certain financial assets The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The Group uses its judgment to select a variety of methods and make assumptions that are mainly based on market conditions existing at the end of each reporting period. (ii) Expected credit losses on financial assets The expected credit losses for financial assets are based on assumptions about risk of default and expected loss rates. The Group uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on the Group’s history and existing market conditions, as well as forward-looking estimates at the end of each reporting period. (iii) Recognition of deferred tax asset for carried-forward tax losses Deferred tax assets are recognized for all unused tax losses to the extent that sufficient taxable profit will likely be available to allow the use of such losses. Significant judgment from management is required to determine the amount of deferred tax assets that can be recognized, based on the likely timing and level of future taxable profits, together with future tax planning strategies. The Group has concluded that the deferred assets will be recoverable using the estimated future taxable income based on the approved business plans and budgets for the subsidiaries where a deferred tax asset has been recognized. (iv) Property and equipment and intangible assets useful lives Property and equipment and intangible assets include the use of estimates to determine the useful life for depreciation and amortization purposes. Useful life determination requires estimates in relation to the expected technological advances and alternative uses of assets. There is a significant element of judgment involved in making technological development assumptions, since the timing and nature of future technological advances are difficult to predict. As of December 31, 2021, the Group did not identify evidence that could indicate that useful lives described in Note 3 ((iv) and (v)) should be revised. Therefore, the Group concluded that changes to the estimated useful life was not deemed necessary. (v) Impairment of non-financial assets, including goodwill The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. Intangible assets with indefinite useful lives and goodwill are tested for impairment annually at the level of the CGU, as appropriate, and when circumstances indicate that the carrying value may be impaired. Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. Technological obsolescence, suspension of certain services and other changes in circumstances that demonstrate the need for recording a possible impairment are also regarded in estimates. (vi) Provision for contingent liabilities Provisions for the judicial and administrative proceedings are recorded when the risk of loss of administrative or judicial proceedings is considered probable and the amounts can be reliably measured, based on the nature, complexity and history of lawsuits and the opinion of legal counsel internal and external. Provisions are made when the risk of loss of judicial or administrative proceedings is assessed as probable and the amounts involved can be measured with sufficient accuracy, based on best available information. They are fully or partially reversed when the obligations cease to exist or are reduced. Given the uncertainties arising from the proceedings, it is not practicable to determine the timing of any outflow (cash disbursement). (vii) Share-based payments Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including the expected life of the share option or appreciation right. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events.

Group structure

Group structure	12 Months Ended
	Dec. 31, 2021
Disclosure of subsidiaries [abstract]
Group structure	Group structure (i) Subsidiaries The following are the direct and indirect interests of Company in its subsidiaries for the purposes of these consolidated financial statements: % of Group’s interest (i) Entity name Country of incorporation Principal activities 2021 2020 2019 Directly controlled XP Investimentos S.A. Brazil Holding 100.00 % 100.00 % — XPAC Sponsor LLC (v) Cayman Special Purpose Acquisition (SPAC) Sponsor 100.00 % — — XProject LTD (v) Cayman Holding 100.00 % — — Indirectly controlled XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A. Brazil Broker-dealer 100.00 % 100.00 % 100.00 % XP Vida e Previdência S.A. (iv) Brazil Private pension and insurance 100.00 % 100.00 % 100.00 % Banco XP S.A. Brazil Multipurpose bank 100.00 % 100.00 % 100.00 % XP Controle 3 Participações S.A. Brazil Financial Holding 100.00 % 100.00 % 100.00 % XPE Infomoney Educação Assessoria Empresarial e Participações Ltda. Brazil Digital Content services 100.00 % 100.00 % 99.99 % Tecfinance Informática e Projetos de Sistemas Ltda. Brazil Rendering of IT services 99.73 % 99.76 % 99.76 % XP Corretora de Seguros Ltda. Brazil Insurance Broker 99.99 % 99.99 % 99.99 % XP Gestão de Recursos Ltda. Brazil Asset management 94.90 % 94.80 % 93.70 % XP Finanças Assessoria Financeira Ltda. Brazil Investment consulting service 99.99 % 99.99 % 99.99 % Infostocks Informações e Sistemas Ltda. Brazil Mediation of information systems 99.99 % 99.99 % 99.99 % XP Advisory Gestão Recursos Ltda. Brazil Asset management 99.54 % 99.50 % 99.57 % XP Vista Asset Management Ltda. Brazil Asset management 99.50 % 99.45 % 99.42 % XP Controle 4 Participações S.A. Brazil Insurance holding 100.00 % 100.00 % 100.00 % Leadr Serviços Online Ltda. (vi) Brazil Social media — 99.99 % 99.99 % Spiti Análise Ltda. (ii) Brazil Investment Advisor — % 100.00 % 100.00 % % of Group’s interest (i) Entity name Country of incorporation Principal activities 2021 2020 2019 Chamaleon Bravery Unipessoal LDA (vi) Portugal Investment Advisor — 100.00 % 100.00 % XP Investments UK LLP UK Inter-dealer broker and Organized Trading Facility (OTF) 100.00 % 100.00 % 100.00 % Sartus Capital LTD UK Investment advisor 100.00 % 100.00 % 100.00 % XP Private (Europe) S.A. Switzerland Investment advisor — 100.00 % 100.00 % XP Holding UK Ltd UK International financial holding 100.00 % 100.00 % 100.00 % XP Investments US, LLC USA Broker-dealer 100.00 % 100.00 % 100.00 % Xperience Market Services LLC (vi) USA Non-operational — 100.00 % 100.00 % XP Holding International LLC USA International financial holding 100.00 % 100.00 % 100.00 % XP Advisory US USA Investment advisor 100.00 % 100.00 % 100.00 % XP PE Gestão de Recursos Ltda. Brazil Asset management 98.70 % 98.70 % — XP LT Gestão de Recursos Ltda. Brazil Asset management 92.00 % 92.00 % — Carteira Online Controle de Investimentos Ltda. - ME (iii) Brazil Investment consolidation platform 99.99 % 99.99 % — Antecipa S.A. (iii) Brazil Receivables Financing Market 100.00 % 100.00 % — XP Allocation Asset Management Ltda. Brazil Asset management 99.99 % 99.99 % — Track Índices Consultoria Ltda. Brazil Index Provider 100.00 % 100.00 % — XP Eventos Ltda. Brazil Media and Events 99.90 % 99.00 % — DM10 Corretora de Seguros Ltda. (iii) Brazil Insurance Broker 100.00 % 100.00 % — XP Comercializadora de Energia Ltda. (v) Brazil Energy trading 100.00 % — — Instituto XP (v) Brazil Non-profit entity 100.00 % — — XPAC Acquisition Corp. (vii) (v) US Special Purpose Acquisition (SPAC) 20.00 % — — XP Distribuidora de Títulos e Valores Mobiliários (v) Brazil Securities dealer 100.00 % — — Instituto de Gestão e Tecnologia da Informação Ltda. (v) (iii) Brazil Educational content services 100.00 % — — Xchange Intermediação S.A. (v) Brazil Digital Assets 100.00 % — — Consolidated investments funds Falx Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Gladius Fundo de Investimento Multimercado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Scorpio Debentures Incentivadas Fundo de Investimento Multimercado Crédito Privado Brazil Investment fund 100.00 % 100.00 % 100.00 % Galea Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior (vi) Brazil Investment fund — 100.00 % 100.00 % Javelin Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Spatha Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior (vi) Brazil Investment fund — 100.00 % 100.00 % Frade Fundo de Investimento em Cotas de Fundos de Investimento em Direitos Creditórios NP Brazil Investment fund 100.00 % 100.00 % 100.00 % Frade III Fundo de Investimento em Cotas de Fundo de Investimento Multimercado Crédito Privado Brazil Investment fund 100.00 % 100.00 % — Balista Debentures Incentivadas Fundo de Investimento Multimercado Crédito Privado (vi) Brazil Investment fund — 100.00 % — Coliseu Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % — NIMROD Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % — XP High Yield Fund SP Cayman Investment fund 100.00 % 100.00 % — XP International Fund SPC Cayman Investment fund 100.00 % 100.00 % — XP Managers Fundo de Investimento em Participações Multiestratégia Brazil Investment fund 100.00 % 100.00 % — XP Alesia Fund SP CL Shares - Brazil Internacional Fund SPC. (v) Cayman Investment fund 100.00 % — — Newave Fundo de Investimento em Participações Multiestratégia. (v) Brazil Investment fund 100.00 % — — % of Group’s interest (i) Entity name Country of incorporation Principal activities 2021 2020 2019 Endor Fundo de Investimento em Participações Multiestratégia Investimento no Exterior (v) Brazil Investment fund 100.00 % — — (i) The percentage of participation represents the Group’s interest in total capital and voting capital of its subsidiaries. (ii) Subsidiaries legally merged into their respective immediate parent, with no impact on the consolidated financial statements. (iii) New subsidiaries acquired in 2020 and 2021. See further details in Note 5 (ii) below. (iv) Subsidiaries incorporated in 2018 for operating in the private pension and life insurance business, which is regulated by the Superintendency of Private Insurance (SUSEP) in Brazil. (v) New subsidiaries and investment funds incorporated in the year. (vi) Subsidiaries and investment funds closed or consolidated by other funds during the year. (vii) New subsidiaries which the Group holds operational control. The operational control refers to relevant rights the Company have over the subsidiary, that includes, among other topics, the right to nominate the directors and propose the target entity for merger. (ii) Business combinations and other developments (a) Acquisitions in 2021 Instituto de Gestão e Tecnologia da Informação Ltda (“IGTI”) On November 5, 2021 the Group entered into an agreement to acquire 100% of total share capital of Instituto de Gestão e Tecnologia da Informação LTDA (“IGTI”). The acquisition was concluded on the same date. IGTI operates in the development and coordination of teaching activities, scientific research activities and educational services. The acquisition of IGTI was recently completed and the allocation of the purchase price to acquire assets, including goodwill, and assumed liabilities is still preliminary pending receipt of the final fair value valuations of the acquired assets and assumed liabilities as of the closing date of the transaction. The total consideration paid is R$46,382, out of which: i) R$40,000 paid in cash, ii) R$5,000 payable in six consecutive annual installments from 2022 to 2027 adjusted by the Interbank Certificates of Deposit (“CDI”) rate and iii) R$1,381 as a fair value of the contingent consideration. This acquisition is not considered material for XP Inc. consolidated financial statements. The preliminary purchase price was mostly allocated to goodwill, representing the value of expected synergies arising from the acquisition. In addition, the Company incurred in direct costs for the business combinations which were expensed as incurred. Investments in XProject On August 23, 2021 the Group entered into an agreement, to acquire 100% of total share capital of UFUK Empreendimentos e Participações S.A. later referred to as XProject Participações S.A. The company is a holding which has an objective to acquire participation as a partner or a shareholder in other companies in Brazil and abroad. This acquisition is not considered material for XP Inc. consolidated financial statements. The purchase price is mostly allocated to goodwill, representing the value of expected synergies arising from the acquisition. Investments in XP Energia On May 4, 2021 the Group entered into an agreement to acquire 100% of total share capital of Solis Comercializadora de Energia Ltda. later denominated XP Comercializadora de Energia Ltda (“XP Energia”). The company's objective is to operate in the wholesale electricity trade, through brokerage, representation, intermediation, purchase, sale, import and export; provision of intermediation services between energy buyers and sellers, among other related services. This acquisition is not considered material for XP Inc. consolidated financial statements. The purchase price is mostly allocated to goodwill, representing the value of expected synergies arising from the acquisition. The results of these operations of the businesses acquired for periods prior to acquisition dates, individually and in the aggregate, were not material to the Company´s consolidated statements of income and, accordingly, pro forma information has not been presented. (b) Acquisitions in 2020 The fair value of the identifiable assets acquired and liabilities assumed as of each acquisition date were: For the purchase price allocation, the following intangible assets were identified. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Fliper Antecipa DM10 Total Assets Cash 617 1,917 275 2,809 Other assets — 95 411 506 Intangible assets 2,869 10,037 2,950 15,856 3,486 12,049 3,636 19,171 Liabilities Other liabilities (6,159) (198) (1,522) (7,879) Total identifiable net assets at fair value (2,673) 11,851 2,114 11,292 Goodwill arising on acquisition (*) 39,832 20,732 14,886 75,450 Contingent consideration (**) 30,300 8,732 — 39,032 Purchase consideration transferred (*) 67,459 41,315 17,000 125,774 Analysis of cash flows on acquisition Net cash acquired with the subsidiary (617) (1,917) (275) (2,809) Payable in installments — (14,636) (6,000) (20,636) Contingent consideration (30,300) (8,732) — (39,032) Net of cash flow on acquisition (investing activities) 36,542 16,030 10,725 63,297 From R$63,297 of net cash flow on acquisition, R$62,443 was settled during 2020, and R$854 was settled in 2021. * During the measurement period, the purchase consideration transferred for the acquisitions was adjusted to R$125,774 (R$100,923 previously disclosed) as a result of purchase price adjustments. Accordingly, goodwill was updated to R$2,233. ** During the measurement period, the preliminary contingent consideration for the acquisitions was adjusted to R$39,032 (R$14,183 previously disclosed) as a result of a fair value adjustment of R$24,849. Assets Amount Method Expected amortization period Customer list 2,181 Multi-period excess earning method 5.5 years Trademark 3,799 Relief from royalty 5 years Technology 9,876 Relief from royalty 5 years For the concluded acquisitions, the total consideration paid is R$125,774, being: i) R$62,443 paid in cash, ii) R$21,487 payable in three consecutive annual installments from 2020 to 2022 adjusted by the Interbank Certificates of Deposit (“CDI”) rate and iii) R$39,032 as a fair value of the contingent consideration. The goodwill recognized includes the value of expected synergies arising from the acquisition, which is not separately recognized. In addition, the Company incurred direct costs for the business combinations which were expensed as incurred. The results of operations of the businesses acquired for periods prior to acquisitions, individually and in the aggregate, were not material to the Company´s consolidated statements of income and, accordingly, pro forma information has not been presented. Acquisition of Carteira Online Controle de Investimentos Ltda.-ME (“Fliper”) On June 5, 2020, the Group entered into an agreement to acquire 100% of total share capital of Carteira Online Controle de Investimentos Ltda.-ME (“Fliper”). Fliper is an automated investment consolidation platform that offers its users connectivity and tools to perform intuitive and intelligent financial self-management. The transaction allows the Group to offer its customers additional resources to manage their investments, as the open banking trend continues to accelerate in Brazil. On July 13, 2020, the acquisition was consummated, through approval of the Central Bank (BACEN). Acquisition of DM10 Corretora de Seguros e Assessoria Ltda. (“DM10”) On June 9, 2020, the Group entered into an agreement to acquire 100% of total share capital of DM10 Corretora de Seguros e Assessoria Ltda. (“DM10”). DM10 is a market place that connects hundreds of independent distributors with Life Insurance and Pension Plan products, adding value through technology and education. With the transaction, the Group enhances its distribution network in the insurance division. On September 24, 2020, the acquisition was consummated, through approval of the Central Bank (BACEN). Acquisition of Antecipa S.A. (“Antecipa”) On June 29, 2020, the Group entered into an agreement, to 100% of total share capital of Antecipa S.A. (“Antecipa”). Antecipa is a digital platform focused on financing of receivables and offering an efficient alternative for companies to optimize its cash flow management. For the Group, the acquisition represents an opportunity to further expand its product range and reinforce the company’s presence in the Small to Medium Enterprise (SME) and corporate segments in Brazil, similar to XP’s transformational initiatives across the Retail, High-Income and Private Market channels. On September 1, 2020 the acquisition was consummated, through approval of the Central Bank (BACEN). Acquisition of Riza Capital Consultoria de Investimentos S.A (“Riza”) On December 23, 2020 the Group entered into an agreement, to acquire 100% of total share capital of Riza an independent financial advisory company. Riza has one of the most seasoned and respected teams in the segment, with experience in important financial institutions and active participation in some of the most relevant M&A transactions over the last decades. The transaction is aligned with XP Inc.’s strategy to reinforce its Capital Markets ecosystem. (c) Other developments a. SPAC Transactions On August 3, XPAC Acquisition Corp. (a subsidiary of XP Inc), completed its initial public offering (“IPO”), offering an aggregate price of R$1,134,797 which included the exercise of the underwriter over-allotment option a portion of shares. XPAC is a special purpose acquisition company, incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. As of 31 December 2021, we have not selected any business combination target, although we have initiated substantive discussions with some companies. Our expectation is to consummate the business combination as soon as the Group identify a target company. Therefore, the founders will have their shares converted into Class A shares, which shall be measured at fair value through profit and loss. The financial impact of this transaction on the consolidated financial statements are presented in Note 7.a.(iii), Note 8, and Note 20.b.(iv). b. Minority stake acquisitions

Securities purchased (sold) und

Securities purchased (sold) under resale (repurchase) agreements	12 Months Ended
	Dec. 31, 2021
Securities purchased under agreements to resell [Abstract]
Securities purchased (sold) under resale (repurchase) agreements	Securities purchased (sold) under resale (repurchase) agreements a) Securities purchased under agreements to resell 2021 2020 Available portfolio 3,322,254 1,409,742 National Treasury Notes (NTNs) (i) 2,671,122 876,146 Financial Treasury Bills (LFTs) (i) — 452,714 National Treasury Bills (LTNs) (i) 544,546 44,093 Debentures (ii) 37,688 36,789 Real Estate Receivable Certificates (CRI) (ii) 43,397 — Financial credit bills (LF) 25,501 — Collateral held 5,574,846 5,218,037 National Treasury Bills (LTNs) (i) — 976,468 National Treasury Notes (NTNs) (i) 1,556,303 4,241,569 Debentures (ii) 906,519 — Real Estate Receivable Certificates (CRI) (ii) 2,586,893 — Financial credit bills (LF) 525,131 — Expected Credit Loss (iii) (2,569) (370) Total 8,894,531 6,627,409 (i) Investments in purchase and sale commitments collateral-backed by sovereign debt securities refer to transactions involving the purchase of sovereign debt securities with a commitment to sale originated in the subsidiary XP CCTVM and in exclusive funds and were carried out at an average fixed rate of 9.15% p.a. (1.91% p.a. as of December 31, 2020). (ii) Refers to fixed-income securities issued by private companies. (iii) The reconciliation of gross carrying amount and the expected credit loss segregated by stages are presented in the Note 14. As of December 31, 2021, R$1,071,328 (December 31 , 2020 – R$593,673) from the total amount of available portfolio is presented as cash equivalents in the statements of cash flows. b) Securities sold under repurchase agreements 2021 2020 National Treasury Bills (LTNs) 3,325,188 18,318,498 National Treasury Notes (NTNs) 10,098,672 13,497,944 Financial Treasury Bills (LFTs) 7,515,712 — Debentures 553,953 22,902 Real Estate Receivable Certificates (CRI) 4,324,155 — Financial credit bills (LF) 463,665 — Total 26,281,345 31,839,344 As of December 31, 2021, securities sold under repurchase agreements were agreed with average interest rates of 9.14% p.a. (December 31, 2020 – 1.89% p.a.), with assets pledged as collateral.

Securities

Securities	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Securities	Securities a) Securities classified at fair value through profit and loss and at fair value through other comprehensive income are presented in the following table: 2021 2020 Gross carrying amount Fair value Gross carrying amount Fair value Financial assets (i) At fair value through profit or loss Available portfolio 56,899,391 56,985,365 49,157,111 49,590,013 Brazilian government bonds 15,577,753 15,582,410 30,752,903 31,129,671 Investment funds 28,520,788 28,520,788 11,216,914 11,221,774 Stocks issued by public-held company 4,768,724 4,768,724 3,802,610 3,802,470 Debentures 4,493,406 4,522,150 1,111,595 1,114,967 Structured transaction certificate 235,794 270,225 485,012 515,960 Bank deposit certificates (ii) 352,770 356,313 371,455 372,329 Agribusiness receivables certificates 573,374 579,224 359,607 363,721 Certificate of real estate receivable 568,347 575,717 97,606 96,930 Financial credit bills 663,236 669,819 81,465 82,209 Others (iv) 1,145,199 1,139,995 877,944 889,982 Investments held in trust accounts 1,194,590 1,194,590 — — US government bonds (iii) 1,194,590 1,194,590 — — Total 58,093,981 58,179,955 49,157,111 49,590,013 (i) Financial assets include R$31,921,400 (December 31, 2020 – R$13,387,913) related to Specially Constituted Investment Fund (“FIE”) as presented in Note 23, out of which R$26,336,326 (December 31, 2020 – R$10,625,520) are Investments funds. (ii) Bank deposit certificates include R$194,892 (December 31, 2020 – R$111,927) presented as cash equivalents in the statements of cash flows. (iii) Related to investments received through IPO transactions derived by XPAC Acquisition Corp. These funds are restricted for use and may only be used for purposes of completing an initial business combination or redemption of public shares as set forth in XPAC Acquisition Corp. trust agreement. (iv) Mainly related to securities loaned. b) Securities at fair value through other comprehensive income are presented in the following table 2021 2020 Gross carrying amount Fair value Gross carrying amount Fair value Financial assets At fair value through other comprehensive income (i) National treasury bill 32,725,011 31,868,878 19,011,499 19,039,044 Bonds 458,755 463,499 — — Total 33,183,766 32,332,377 19,011,499 19,039,044 (i) Includes expected credit losses in the amount of R$7,527 (December 31,2020 – R$8,855). The reconciliation of gross carrying amount and the expected credit loss segregated by stages are presented in the Note 14. c) Securities evaluated at amortized cost are presented in the following table: 2021 2020 Gross carrying amount Book value Gross carrying amount Book value Financial assets At amortized cost (i) Bonds 1,871,273 1,868,776 1,829,791 1,828,704 Rural product note 328,638 328,638 — — Debentures 41,393 41,393 — — Total 2,241,304 2,238,807 1,829,791 1,828,704 (i) Include expected credit losses in the amount of R$2,497 (December 31,2020 – R$1,087). The reconciliation of gross carrying amount and the expected credit losses segregated by stages are presented in the Note 14. d ) Securities on the financial liabilities classified at fair value through profit or loss are presented in the following table: 2021 2020 Gross carrying amount Fair value Gross carrying amount Fair value Financial liabilities At fair value through profit or loss Securities loaned 2,146,398 2,146,398 2,237,442 2,237,442 e) Debentures designated at fair value through profit or loss are presented in the following table: On May 6, 2021, XP Investimentos, issued non-convertible Debentures, in the aggregate amount of R$500,018, with the objective of funding the Group’s working capital for the construction of our new headquarters “Vila XP” at São Roque, State of São Paulo and designated this instrument as fair value through profit or loss in order to align it with the Group’s risk management and investment strategy. The principal amount is due on April 10, 2036. The accrued interest is payable every month from the issuance date and is calculated based on the IPCA (brazilian inflation index) plus 5%p.a. 2021 2020 Gross carrying amount Fair Gross carrying amount Fair Financial liabilities At fair value through profit or loss Debentures 536,881 518,804 — — Unrealized gains/(losses) due to own credit risk for liabilities for which the fair value option has been elected are recorded in other comprehensive income. Gain/(losses) due to own credit risk were not material for the period ended of December 31, 2021. Determination of own credit risk for items for which the fair value option was elected The debenture’s own credit risk is calculated as the difference between its yield and its benchmark rate for similar Brazilian federal securities. e.1) Difference between aggregate fair value and aggregate remaining contractual principal balance outstanding The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of December 31, 2021 for instruments for which the fair value option has been elected. 2021 Contractual principal outstanding Fair value Fair value/(under) contractual principal outstanding Long-term debt Debentures 536,881 518,804 (18,077) f) Below is presented the securities classified by maturity: Assets Liabilities 2021 2020 2021 2020 Financial assets At fair value through PL and at OCI Current 47,431,624 34,572,107 2,146,398 2,237,442 Non-stated maturity 31,425,792 15,246,105 2,146,398 2,237,442 Up to 3 months 4,556,261 794,025 — — From 3 to 12 months 11,449,571 18,531,977 — — Non-current 43,088,235 34,065,805 518,804 — After one year 43,088,235 34,065,805 518,804 — Evaluated at amortized cost Current 1,891,889 1,829,791 — — Up to 3 months 1,698,760 1,623,487 — — From 3 to 12 months 193,129 206,304 — — Non-current 349,415 — — — After one year 349,415 — — — Total 92,761,163 70,467,703 2,665,202 2,237,442 The reconciliation of expected loss to financial assets at amortized cost – securities segregated by stage according with to IFRS 9 is demonstrated in Note 14. Following are the breakdown of the carrying amount of loan operations by class, sector of debtor, maturity and concentration: Loans by type 2021 2020 Pledged asset loan Retail 7,296,172 2,698,018 Corporate 1,887,649 946,008 Credit card 2,605,598 51,270 Non-pledged loan Retail 117,032 116,978 Corporate 937,586 113,155 Total Loans operations 12,844,037 3,925,429 Expected Credit Loss (Note 14(b)) (24,410) (7,101) Total loans operations, net of Expected Loss 12,819,627 3,918,328 By maturity 2021 2020 Due in 3 months or less 2,539,387 160,918 Due after 3 months through 12 months 2,081,563 580,183 Due after 12 months 8,223,087 3,184,328 Total Loans operations 12,844,037 3,925,429 By concentration 2021 2020 Largest debtor 227,229 150,040 10 largest debtors 1,162,802 726,904 20 largest debtors 1,721,591 1,043,583 50 largest debtors 2,793,814 1,521,310 100 largest debtors 3,899,644 1,885,614 XP Inc offers loan products through Banco XP to its customers. The loan products offered to its customers are fully collateralized by customers’ investments on XP platform and credit product strictly related to investments in structured notes, in which the borrower is able to operate leveraged, retaining the structured note itself as guarantee for the loan. Certain loans operations originated by the collateralized credit have insignificant risk of loss, which resulted in no expected credit loss being recognized in accordance with the Group's expected credit loss model at December 31, 2020 for financial assets with a book value of R$297,443. At December 31, 2021 expected credit losses were recognized in relation to all financial assets. The reconciliation of gross carrying amount and the expected credit loss in loan operations segregated by stage according with IFRS 9 is included in Note 14. These stages are periodically reassessed in accordance with XP Inc.’s credit risk policy.

Derivative financial instrument

Derivative financial instruments	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Derivative financial instruments	Derivative financial instruments The Group uses the derivatives to manage its overall exposures of foreign exchange rates, interest rates and price of shares. The fair value of derivative financial instruments, comprised of futures, forward, options, and swaps operations, is determined in accordance with the following criteria: • Swap – These operations swap cash flow based on the comparison of profitability between two indexers, Thus, the agent assumes both positions – put in one indexer and call on another. • Forward - at the market quotation value, and the installments receivable or payable are prefixed to a future date, adjusted to present value, based on market rates published at B3. • Futures – Foreign exchange rates, prices of shares and commodities are commitments to buy or sell a financial instrument at a future date, at a contracted price or yield and may be settled in cash or through delivery. Daily cash settlements of price movements are made for all instruments. • Options - option contracts give the purchaser the right to buy the instrument at a fixed price negotiated at a future date. Those who acquire the right must pay a premium to the seller. This premium is not the price of the instrument, but only an amount paid to have the option (possibility) to buy or sell the instrument at a future date for a previously agreed price. Positions with derivative financial instruments as of December 31, 2021 and 2020 are shown below: 2021 Assets Liabilities Fair value Notional Fair value Notional Options 6,570,325 371,849,357 8,112,055 311,295,196 Swaps 2,577,311 75,380,631 2,561,327 82,520,691 Forward contracts 1,601,167 88,107,328 1,057,426 44,968,097 Futures contracts 194,911 11,932,285 157,710 13,041,450 Others (i) — — 19,665 84,184 Total 10,943,714 547,269,601 11,908,183 451,909,618 2020 Assets Liabilities Fair value Notional Fair value Notional Options 6,298,358 681,464,674 6,735,478 614,741,256 Swaps 777,816 5,578,227 870,393 6,143,671 Forward contracts 456,724 2,905,411 200,272 3,035,011 Futures contracts 26,535 43,100,609 13,221 44,981,642 Total 7,559,433 733,048,921 7,819,364 668,901,580 (i) Related to Public Warrants and Private placement Warrants liabilities issued by XPAC Acquisition Corp. Below is the composition of the Derivative financial instruments portfolio (assets and liabilities) by type of instrument, stated fair value and by maturity: 2021 Fair Value % Up to 3 months From 4 to 12 months Above 12 months Assets Swap contracts 2,577,311 14 73,016 259,300 2,244,995 Forward contracts 1,601,167 16 404,764 216,895 979,508 Future contracts 194,911 2 21,891 3,275 169,745 Options 6,570,325 68 1,474,816 2,281,088 2,814,421 Total 10,943,714 100 1,974,487 2,760,558 6,208,669 Liabilities Options 8,112,055 69 1,941,553 1,937,725 4,232,777 Forward contracts 1,057,426 18 62,935 68,398 926,093 Future contracts 157,710 10 6 4,814 152,890 Swap contracts 2,561,327 3 113,754 240,005 2,207,568 Others (i) 19,665 — 19,665 — — Total 11,908,183 100 2,137,913 2,250,942 7,519,328 (i) Related to Public Warrants and Private placement Warrants liabilities issued by XPAC Acquisition Corp. 2020 Fair value % Up to 3 months From 4 to 12 months Above 12 months Assets Swap contracts 777,816 10 35,241 206,921 535,654 Forward contracts 456,724 6 230,862 201,324 24,538 Future contracts 26,535 1 26,535 — — Options 6,298,358 83 2,327,062 2,351,285 1,620,011 Total 7,559,433 100 2,619,700 2,759,530 2,180,203 Liabilities Options 6,735,478 87 2,152,890 2,378,689 2,203,899 Forward contracts 200,272 2 133,679 49,102 17,491 Future contracts 13,221 1 542 1,742 10,937 Swap contracts 870,393 10 99,249 213,532 557,612 Total 7,819,364 100 2,386,360 2,643,065 2,789,939 Derivatives financial instruments by index: 2021 2020 Notional Fair Value Notional Fair Value Swap Contracts Asset Position Interest 66,123,491 1,799,953 5,014,934 776,215 Foreign exchange 1,978,886 16,013 563,293 1,601 Share 7,278,254 761,345 — — Liability Position Interest 75,207,636 (2,461,848) 6,143,671 (870,393) Foreign exchange 5,888,850 (28,509) — — Share 1,424,205 (70,970) — — Forward Contracts Asset Position Foreign exchange 81,544,253 282,775 2,546,940 98,253 Share 4,603,031 412,097 325,519 325,519 Interest 906,295 906,295 32,952 32,952 Commodities 1,053,749 — — — Liability Position Foreign exchange 42,367,576 (139,642) 3,002,067 (167,328) Interest 906,302 (906,302) 32,944 (32,944) Share 11,482 (11,482) — — Commodities 1,682,737 — — — Future Contracts Purchase commitments Foreign exchange 155,487 194,911 — — Interest 11,629,715 — 43,100,609 26,535 Share 147,083 — — — Commitments to sell Interest 12,188,922 (157,710) 44,981,642 (13,221) Foreign exchange 705,334 — — — Share 147,083 — — — Commodities 111 — — — Options Purchase commitments Foreign exchange 25,973,934 2,248,675 — — Share 72,883,420 3,146,174 5,827,205 1,074,507 Interest 272,987,997 1,160,526 675,637,469 5,223,851 Commodities 4,006 14,950 — — Commitments to sell Foreign exchange 24,541,428 (3,080,095) — — Shares 13,690,202 (2,788,089) 9,229,113 (945,828) Commodities 680,404 (113,875) — — Interest 272,383,162 (2,129,996) 605,512,143 (5,789,650) Others Liability Position Interest 84,184 (19,665) — — Assets 10,943,714 7,559,433 Liabilities (11,908,183) (7,819,364) Net (964,469) (259,931)

Hedge accounting

Hedge accounting	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about hedged items [abstract]
Hedge accounting	Hedge accounting The Group has two types of hedge relationships: hedge of net investment in foreign operations and fair value hedge. For hedge accounting purposes, the risk factors measured by the Group are: • Interest Rate: Risk of volatility in transactions subject to interest rate variations; • Currency: Risk of volatility in transactions subject to foreign exchange variation. The structure of risk limits is extended to the risk factor level, where specific limits aim at improving the monitoring and understanding processes, as well as avoiding concentration of these risks. The structures designed for interest rate and exchange rate categories taking into account total risk when there are compatible hedging instruments. In certain cases, management may decide to hedge a risk for the risk factor term and limit of the hedging instrument. a) Hedge of net investment in foreign operations In the period ended December 31, 2021, the objective for the Group was to hedge the risk generated by the US$ variation from investments in our subsidiaries in the United States, XP Holdings International and XP Advisors Inc. The Group has entered into forward contracts to protect against changes in future cash flows and exchange rate variation of net investments in foreign operations known as Non-Deliverable Forward (“NDF”) contracts. The Group undertakes risk management through the economic relationship between hedge instruments and hedged items, in which it is expected that these instruments will move in opposite directions, in the same proportions, with the aim of neutralizing the risk factors. Hedged item Hedge instrument Book Value Variation in value recognized in Other comprehensive income Notional value Variation in the Strategies Assets Liabilities 2021 Foreign exchange risk Hedge of net investment in foreign operations 310,069 — 19,474 440,022 (18,758) Total 310,069 — 19,474 440,022 (18,758) 2020 Foreign exchange risk Hedge of net investment in foreign operations 245,986 — 52,299 349,218 349,218 Total 245,986 — 52,299 349,218 (60,563) 2019 Foreign exchange risk Hedge of net investment in foreign operations 186,412 — 5,946 248,896 (7,133) Total 186,412 — 5,946 248,896 (7,133) b) Fair value hedge The Group’s fair value strategy consists of hedging the exposure to variation in fair value on the receipt, payment of interests and exchange variation on assets and liabilities. The group applies fair value hedges as follows: • Hedging the exposure of Fixed-Income securities carried out through structured operations certificates. The market risk hedge strategy involves avoiding temporary fluctuations in earnings arising from changes in the interest rate market in Brazil’s currency. Once this risk is offset, the Group seeks to index the portfolio to the CDI, through the use of derivatives (DI1 Futuro). The hedge is contracted in order to neutralize the total exposure to the market risk of the fixed-income funding portfolio, excluding the portion of the fixed-income compensation represented by the credit spread of Banco XP S.A, seeking to obtain the closest match deadlines and volumes as possible. • Hedging to protect the change in the fair value of the exchange risk of the component of future cash flows arising from the XP Inc bond issued (financial liability) recognized in the balance sheet of XP Inc in July 2021 by contracting derivatives (DI1 Futuro). The effects of hedge accounting on the financial position and performance of the Group are presented below: Hedged item Hedge instrument Book Value Variation in value recognized in income Notional value Variation in the Strategies Assets Liabilities 2021 Interest rate and foreign exchange risk Hedge of securities — 9,264,330 506,190 9,297,999 (495,191) Total — 9,264,330 506,190 9,297,999 (495,191) Hedged item Hedge instrument Book Value Variation in value recognized in income Notional value Variation in the Strategies Assets Liabilities 2020 Interest rate and foreign exchange risk Hedge of securities — 2,178,459 (47,923) 2,188,732 46,795 Total — 2,178,459 (47,923) 2,188,732 46,795 The hedge ineffectiveness recognized in statements of income are presented below: 2021 Notional amount Book value (i) Variation in fair value used to calculate hedge ineffectiveness Hedge ineffectiveness recognized in income Hedge Instruments Assets Liabilities Interest rate risk Futures 8,861,195 — 8,830,343 (491,649) 10,995 Foreign exchange risk Futures 876,826 310,069 433,987 (22,300) 720 2020 Notional amount Book value (i) Variation in fair value used to calculate hedge ineffectiveness Hedge ineffectiveness recognized in income Hedge Instruments Assets Liabilities Interest rate risk Futures 2,188,732 — 2,178,459 46,795 (1,128) (i) Amounts recorded within financial statement line “Derivative financial instruments.” See Note 8. The table below presents, for each strategy, the notional amount and the fair value adjustments of hedge instruments and the book value of the hedged item: December 31, 2021 December 31, 2020 December 31, 2019 Strategies Hedge instruments Hedge item Hedge instruments Hedge item Hedge instruments Hedge item Notional amount Fair value adjustments Book value Notional amount Fair value adjustments Book value Notional amount Fair value adjustments Book value Hedge of Fair Value 9,297,999 (495,191) 506,190 2,188,732 (47,923) 46,795 — — — Hedge of net investment in foreign operations 440,022 (18,758) 19,474 349,218 (60,563) 52,299 248,896 5,946 (7,133) Total 9,738,021 (513,949) 525,664 2,537,950 (108,486) 99,094 248,896 5,946 (7,133) The table below shows the breakdown notional value by maturity of the hedging strategies: 2021 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of Fair Value 136,636 276,219 478,745 972,199 4,510,125 2,924,075 9,297,999 Hedge of net investment in foreign operations 384,217 — — 55,805 — — 440,022 Total 520,853 276,219 478,745 1,028,004 4,510,125 2,924,075 9,738,021 2020 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of Fair Value 1,977 13,375 94,099 44,843 672,978 1,361,460 2,188,732 Hedge of net investment in foreign operations — — 146,547 202,671 — — 349,218 Total 1,977 13,375 240,646 247,514 672,978 1,361,460 2,537,950 2019 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of net investment in foreign operations 7,658 — — 91,698 149,540 — 248,896 Total 7,658 — — 91,698 149,540 — 248,896

Loan operations

Loan operations	12 Months Ended
	Dec. 31, 2021
Disclosure of financial assets [abstract]
Loan operations	Securities a) Securities classified at fair value through profit and loss and at fair value through other comprehensive income are presented in the following table: 2021 2020 Gross carrying amount Fair value Gross carrying amount Fair value Financial assets (i) At fair value through profit or loss Available portfolio 56,899,391 56,985,365 49,157,111 49,590,013 Brazilian government bonds 15,577,753 15,582,410 30,752,903 31,129,671 Investment funds 28,520,788 28,520,788 11,216,914 11,221,774 Stocks issued by public-held company 4,768,724 4,768,724 3,802,610 3,802,470 Debentures 4,493,406 4,522,150 1,111,595 1,114,967 Structured transaction certificate 235,794 270,225 485,012 515,960 Bank deposit certificates (ii) 352,770 356,313 371,455 372,329 Agribusiness receivables certificates 573,374 579,224 359,607 363,721 Certificate of real estate receivable 568,347 575,717 97,606 96,930 Financial credit bills 663,236 669,819 81,465 82,209 Others (iv) 1,145,199 1,139,995 877,944 889,982 Investments held in trust accounts 1,194,590 1,194,590 — — US government bonds (iii) 1,194,590 1,194,590 — — Total 58,093,981 58,179,955 49,157,111 49,590,013 (i) Financial assets include R$31,921,400 (December 31, 2020 – R$13,387,913) related to Specially Constituted Investment Fund (“FIE”) as presented in Note 23, out of which R$26,336,326 (December 31, 2020 – R$10,625,520) are Investments funds. (ii) Bank deposit certificates include R$194,892 (December 31, 2020 – R$111,927) presented as cash equivalents in the statements of cash flows. (iii) Related to investments received through IPO transactions derived by XPAC Acquisition Corp. These funds are restricted for use and may only be used for purposes of completing an initial business combination or redemption of public shares as set forth in XPAC Acquisition Corp. trust agreement. (iv) Mainly related to securities loaned. b) Securities at fair value through other comprehensive income are presented in the following table 2021 2020 Gross carrying amount Fair value Gross carrying amount Fair value Financial assets At fair value through other comprehensive income (i) National treasury bill 32,725,011 31,868,878 19,011,499 19,039,044 Bonds 458,755 463,499 — — Total 33,183,766 32,332,377 19,011,499 19,039,044 (i) Includes expected credit losses in the amount of R$7,527 (December 31,2020 – R$8,855). The reconciliation of gross carrying amount and the expected credit loss segregated by stages are presented in the Note 14. c) Securities evaluated at amortized cost are presented in the following table: 2021 2020 Gross carrying amount Book value Gross carrying amount Book value Financial assets At amortized cost (i) Bonds 1,871,273 1,868,776 1,829,791 1,828,704 Rural product note 328,638 328,638 — — Debentures 41,393 41,393 — — Total 2,241,304 2,238,807 1,829,791 1,828,704 (i) Include expected credit losses in the amount of R$2,497 (December 31,2020 – R$1,087). The reconciliation of gross carrying amount and the expected credit losses segregated by stages are presented in the Note 14. d ) Securities on the financial liabilities classified at fair value through profit or loss are presented in the following table: 2021 2020 Gross carrying amount Fair value Gross carrying amount Fair value Financial liabilities At fair value through profit or loss Securities loaned 2,146,398 2,146,398 2,237,442 2,237,442 e) Debentures designated at fair value through profit or loss are presented in the following table: On May 6, 2021, XP Investimentos, issued non-convertible Debentures, in the aggregate amount of R$500,018, with the objective of funding the Group’s working capital for the construction of our new headquarters “Vila XP” at São Roque, State of São Paulo and designated this instrument as fair value through profit or loss in order to align it with the Group’s risk management and investment strategy. The principal amount is due on April 10, 2036. The accrued interest is payable every month from the issuance date and is calculated based on the IPCA (brazilian inflation index) plus 5%p.a. 2021 2020 Gross carrying amount Fair Gross carrying amount Fair Financial liabilities At fair value through profit or loss Debentures 536,881 518,804 — — Unrealized gains/(losses) due to own credit risk for liabilities for which the fair value option has been elected are recorded in other comprehensive income. Gain/(losses) due to own credit risk were not material for the period ended of December 31, 2021. Determination of own credit risk for items for which the fair value option was elected The debenture’s own credit risk is calculated as the difference between its yield and its benchmark rate for similar Brazilian federal securities. e.1) Difference between aggregate fair value and aggregate remaining contractual principal balance outstanding The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of December 31, 2021 for instruments for which the fair value option has been elected. 2021 Contractual principal outstanding Fair value Fair value/(under) contractual principal outstanding Long-term debt Debentures 536,881 518,804 (18,077) f) Below is presented the securities classified by maturity: Assets Liabilities 2021 2020 2021 2020 Financial assets At fair value through PL and at OCI Current 47,431,624 34,572,107 2,146,398 2,237,442 Non-stated maturity 31,425,792 15,246,105 2,146,398 2,237,442 Up to 3 months 4,556,261 794,025 — — From 3 to 12 months 11,449,571 18,531,977 — — Non-current 43,088,235 34,065,805 518,804 — After one year 43,088,235 34,065,805 518,804 — Evaluated at amortized cost Current 1,891,889 1,829,791 — — Up to 3 months 1,698,760 1,623,487 — — From 3 to 12 months 193,129 206,304 — — Non-current 349,415 — — — After one year 349,415 — — — Total 92,761,163 70,467,703 2,665,202 2,237,442 The reconciliation of expected loss to financial assets at amortized cost – securities segregated by stage according with to IFRS 9 is demonstrated in Note 14. Following are the breakdown of the carrying amount of loan operations by class, sector of debtor, maturity and concentration: Loans by type 2021 2020 Pledged asset loan Retail 7,296,172 2,698,018 Corporate 1,887,649 946,008 Credit card 2,605,598 51,270 Non-pledged loan Retail 117,032 116,978 Corporate 937,586 113,155 Total Loans operations 12,844,037 3,925,429 Expected Credit Loss (Note 14(b)) (24,410) (7,101) Total loans operations, net of Expected Loss 12,819,627 3,918,328 By maturity 2021 2020 Due in 3 months or less 2,539,387 160,918 Due after 3 months through 12 months 2,081,563 580,183 Due after 12 months 8,223,087 3,184,328 Total Loans operations 12,844,037 3,925,429 By concentration 2021 2020 Largest debtor 227,229 150,040 10 largest debtors 1,162,802 726,904 20 largest debtors 1,721,591 1,043,583 50 largest debtors 2,793,814 1,521,310 100 largest debtors 3,899,644 1,885,614 XP Inc offers loan products through Banco XP to its customers. The loan products offered to its customers are fully collateralized by customers’ investments on XP platform and credit product strictly related to investments in structured notes, in which the borrower is able to operate leveraged, retaining the structured note itself as guarantee for the loan. Certain loans operations originated by the collateralized credit have insignificant risk of loss, which resulted in no expected credit loss being recognized in accordance with the Group's expected credit loss model at December 31, 2020 for financial assets with a book value of R$297,443. At December 31, 2021 expected credit losses were recognized in relation to all financial assets. The reconciliation of gross carrying amount and the expected credit loss in loan operations segregated by stage according with IFRS 9 is included in Note 14. These stages are periodically reassessed in accordance with XP Inc.’s credit risk policy.

Accounts receivable

Accounts receivable	12 Months Ended
	Dec. 31, 2021
Trade and other receivables [abstract]
Accounts receivable	Accounts receivable 2021 2020 Customers (a) 419,532 455,253 Dividends and interest receivable on equity capital - Funds 3,593 6,393 Other (b) 52,492 51,131 (-) Expected credit losses on accounts receivable (Note 14(b)) (6,531) (6,418) Total 469,086 506,359 (a) Refers to receivables from management fee arising from the distribution of funds and amounts receivable related to service provision, which have an average term of 30 days. There is no concentration on the balances receivable as of December 31, 2021 and 2020. (b) Mainly related to accounts receivable from B3. The reconciliation of gross carrying amount and the expected credit loss in Accounts receivable segregated by stage according with IFRS 9 is included in Note 14.

Recoverable taxes

Recoverable taxes	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Recoverable taxes	Recoverable taxes 2021 2020 Prepayments of income taxes (IRPJ and CSLL) 146,636 122,070 Contributions over revenue (PIS and COFINS) 5,654 3,993 Other recoverable taxes (i) 1,026 1,560 Total 153,316 127,623 Current 153,316 127,623 Non-current — — (i) The amount refers to taxes on services - ISS of R$1,002 (2020– R$979), value added taxes – VAT of nil (2020 –R$581) and Contributions for Social Security - INSS of R$24 (2020–nil).

Prepaid expenses

Prepaid expenses	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Prepaid expenses	Prepaid expenses 2021 2020 Commissions and premiums paid in advance (a) 3,737,354 1,314,771 Marketing expenses 28,147 28,056 Services paid in advance 41,990 6,245 Other expenses paid in advance 175,259 44,465 Total 3,982,750 1,393,537 Current 251,973 283,183 Non-current 3,730,777 1,110,354 (a) Mostly comprised by long term investment programs implemented by XP CCTVM through its network of IFAs. These commissions and premiums paid are recognized at the signing date of each contract and are amortized in the statement of income of the Group, linearly, according to the investment term period.

Expected Credit Losses on Finan

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount	12 Months Ended
	Dec. 31, 2021
Disclosure of fair value measurement of assets [abstract]
Expected Credit Losses on Financial Assets and Reconciliation of carrying amount	Expected Credit Losses on Financial Assets and Reconciliation of carrying amount a) Reconciliation of carrying amount of Financial Assets It is presented below the reconciliation by stage of gross carrying amount of Financial assets through other comprehensive income and Financial assets measured at amortized cost – that have their ECLs (Expected Credit Losses) measured using the three stage model and the low credit risk simplification. Stage 1 Balance at December 31, 2020 Acquisition / (Settlements) Transfer to Transfer to Cure from Cure from Closing balance December 31, 2021 Financial assets at fair value through other comprehensive income Securities 19,047,899 13,292,005 — — — — 32,339,904 Financial assets amortized cost Securities 1,829,791 411,513 — — — — 2,241,304 Securities purchased under agreements to resell 6,627,779 2,269,321 — — — — 8,897,100 Loans and credit card operations 3,599,808 9,013,279 (667,692) (3,494) 211,648 — 12,153,549 Total on-balance exposures 31,105,277 24,986,118 (667,692) (3,494) 211,648 — 55,631,857 Off-balance exposures (credit card limits) — 1,334,467 (59,408) (5) 32,932 — 1,307,986 Total exposures 31,105,277 26,320,585 (727,100) (3,499) 244,580 — 56,939,843 Stage 2 Balance at December 31, 2020 Acquisition / (Settlements) Transfer to stage 1 Transfer to stage 3 Cure from stage 1 Cure from stage 3 Closing balance December 31, 2021 Financial assets amortized cost Loans and credit card operations 325,621 (94,671) (211,648) — 667,692 — 686,994 Total on-balance exposures 325,621 (94,671) (211,648) — 667,692 — 686,994 Off-balance exposures (credit card limits) 35,810 (2,878) (32,932) — 59,408 — 59,408 Total exposures 361,431 (97,549) (244,580) — 727,100 — 746,402 Stage 3 Balance at December 31, 2020 Acquisition / (Settlements) Transfer to stage 1 Transfer to stage 2 Cure from stage 1 Cure from stage 2 Closing balance December 31, 2021 Financial assets amortized cost Loans and credit card operations — — — — 3,494 — 3,494 Total on-balance exposures — — — — 3,494 — 3,494 Off-balance exposures (credit card limits) — — — — 5 — 5 Total exposures — — — — 3,499 — 3,499 Consolidated Stages Balance at December 31, 2020 Derecognition Purchases / (Settlements) Closing balance December 31, 2021 Financial assets at fair value through other comprehensive income Securities 19,047,899 — 13,292,005 32,339,904 Financial assets amortized cost Securities 1,829,791 — 411,513 2,241,304 Securities purchased under agreements to resell 6,627,779 — 2,269,321 8,897,100 Loans and credit card operations 3,925,429 — 8,918,608 12,844,037 Total on-balance exposures 31,430,898 — 24,891,447 56,322,345 Off-balance exposures (credit card limits) 35,810 — 1,331,589 1,367,399 Total exposures 31,466,708 — 26,223,036 57,689,744 Stage 1 Balance at December 31, 2019 Acquisition / (Settlements) Transfer to stage 2 Transfer to stage 3 Cure from stage 2 Cure from stage 3 Closing balance December 31, 2020 Financial assets at fair value through other comprehensive income Securities 2,616,118 16,431,781 — — — — 19,047,899 Financial assets amortized cost Securities 2,266,971 (437,180) — — — — 1,829,791 Securities purchased under agreements to resell 9,490,090 (2,862,311) — — — — 6,627,779 Loans and credit card operations — 3,599,808 — — — — 3,599,808 Total on-balance exposures 14,373,179 16,732,098 — — — — 31,105,277 Total exposures 14,373,179 16,732,098 — — — — 31,105,277 Stage 2 Balance at December 31, 2019 Acquisition / (Settlements) Transfer to stage 1 Transfer to stage 3 Cure from stage 1 Cure from stage 3 Closing balance December 31, 2020 Financial assets amortized cost Loans and credit card operations — 325,621 — — — — 325,621 Total on-balance exposures — 325,621 — — — — 325,621 Off-balance exposures (credit card limits) — 35,810 35,810 Total exposures — 361,431 — — — — 361,431 Consolidated Stages Balance at December 31, 2019 Derecognition Purchases / (Settlements) Closing balance December 31, 2020 Financial assets at fair value through other comprehensive income Securities 2,616,118 — 16,431,781 19,047,899 Financial assets amortized cost Securities 2,266,971 — (437,180) 1,829,791 Securities purchased under agreements to resell 9,490,090 — (2,862,311) 6,627,779 Loans and credit card operations — — 3,925,429 3,925,429 Total on-balance exposures 14,373,179 — 17,057,719 31,430,898 Off-balance exposures (credit card limits) — — — 35,810 Total exposures 14,373,179 — 17,057,719 31,466,708 As of December 31, 2020, XP Group does not have financial assets classified as a Stage 3. The following table presents the gross carrying amount of Financial assets measured at amortized cost that have their ECLs measured using the simplified approach: Operations 2021 2020 Financial assets amortized cost Securities trading and intermediation 1,487,639 1,107,051 Accounts Receivable 475,617 512,777 Other financial assets 511,181 73,466 Total 2,474,437 1,693,294 b) Expected credit loss The table below presents the changes in ECLs, measured according three stage model, for assets classified as Financial assets through other comprehensive income –and Financial assets measured at amortized cost in the period ended December 31, 2021 and December 31, 2020, segregated by stages: Stage 1 ECL at December 31, 2020 Increase / (Reversal) Transfer to stage 2 Transfer to stage 3 Cure from stage 2 Cure from stage 3 ECL at December 31, 2021 Financial assets at fair value through other comprehensive income Securities 8,855 (1,328) — — — 7,527 Financial assets amortized cost Securities 1,087 1,410 — — — — 2,497 Securities purchased under agreements to resell 370 2,199 — — — — 2,569 Loans and credit card operations 5,648 17,207 (6,926) (2,197) 225 — 13,957 Total on-balance exposures 15,960 19,488 (6,926) (2,197) 225 — 26,550 Off-balance exposures (credit card limits) — 1,014 (288) — — — 726 Total exposures 15,960 20,502 (7,214) (2,197) 225 — 27,276 Stage 2 ECL at December 31, 2020 Increase / (Reversal) Transfer to stage 1 Transfer to stage 3 Cure from stage 1 Cure from stage 3 ECL at December 31, 2021 Financial assets amortized cost Loans and credit card operations 1,453 (912) (225) — 6,926 — 7,242 Total on-balance exposures 1,453 (912) (225) — 6,926 — 7,242 Off-balance exposures (credit card limits) — — — — 288 — 288 Total exposures 1,453 (912) (225) — 7,214 — 7,530 Stage 3 ECL at December 31, 2020 Increase / (Reversal) Transfer to stage 1 Transfer to stage 2 Cure from stage 1 Cure from stage 2 ECL at December 31, 2021 Financial assets amortized cost Loans and credit card operations — — — — 2,197 — 2,197 Total on-balance exposures — — — — 2,197 — 2,197 Total exposures — — — — 2,197 — 2,197 Consolidated Stages ECL at December 31, 2020 Derecognition Increase / (Reversal) ECL at December 31, 2021 Financial assets at fair value through other comprehensive income Securities 8,855 — (1,328) 7,527 Financial assets amortized cost Securities 1,087 — 1,410 2,497 Securities purchased under agreements to resell 370 — 2,199 2,569 Loans and credit card operations 7,101 — 16,295 23,396 Total on-balance exposures 17,413 — 18,576 35,989 Off-balance exposures (credit card limits) — — 1,014 1,014 Total exposures 17,413 — 19,590 37,003 Stage 1 ECL at December 31, 2019 Increase / (Reversal) Transfer to stage 2 Transfer to stage 3 Cure from stage 2 Cure from stage 3 ECL at December 31, 2020 Financial assets at fair value through other comprehensive income Securities — 8,855 — — — — 8,855 Financial assets amortized cost — — — — Securities — 1,087 — — — — 1,087 Securities purchased under agreements to resell — 370 — — — — 370 Loans and credit card operations 2 5,646 — — — — 5,648 Total on-balance exposures 2 15,958 — — — — 15,960 Total exposures 2 15,958 — — — — 15,960 Stage 2 ECL at December 31, 2019 Increase / (Reversal) Transfer to stage 1 Transfer to stage 3 Cure from stage 1 Cure from stage 3 ECL at December 31, 2020 Financial assets amortized cost Loans and credit card operations — 1,453 — — — — 1,453 Total on-balance exposures — 1,453 — — — — 1,453 Total exposures — 1,453 — — — — 1,453 Consolidated Stages ECL at December 31, 2019 Derecognition Increase / (Reversal) ECL at December 31, 2020 Financial assets at fair value through other comprehensive income Securities — — 8,855 8,855 Financial assets amortized cost Securities — — 1,087 1,087 Securities purchased under agreements to resell — — 370 370 Loans and credit card operations 2 — 7,099 7,101 Total on-balance exposures 2 — 17,411 17,413 Total exposures 2 — 17,411 17,413 The table below presents the ECLs for the financial assets measured according to simplified approach in the period ended December 31, 2021 and December 31, 2020: Expected Credit Losses 2021 2020 Financial assets amortized cost Securities trading and intermediation 81,988 55,485 Accounts Receivable 6,531 6,418 Other financial assets 49,666 3,312 Total 138,185 65,215 c) Expected credit losses segregated by products It is presented below the expected credit losses for 2021 and 2020, segregated by the products: Expected Credit Losses 2021 2020 Financial assets at fair value through other comprehensive income 7,527 8,855 Securities 7,527 8,855 Financial assets amortized cost 166,647 73,773 Securities 2,497 1,087 Securities purchased under agreements to resell 2,569 370 Loans and credit card operations 23,396 7,101 Securities trading and intermediation 81,988 55,485 Accounts Receivable 6,531 6,418 Other financial assets 49,666 3,312 Total losses for exposures 174,174 82,628 Off-balance exposures (credit card limits) 1,014 — Total exposures 175,188 82,628

Investments in associates and j

Investments in associates and joint ventures	12 Months Ended
	Dec. 31, 2021
Disclosure of associates [abstract]
Investments in associates and joint ventures	Investments in associates and joint ventures Set out below are the associates and joint ventures of the Group as of December 31, 2021 and 2020. Entity 2020 Equity Equity in earnings Other comprehensive income Goodwill (i) 2021 Equity-accounted method Associates (ii.a) 697,924 33,036 (5,862) (20,641) 86,287 790,744 Joint ventures (ii.b) 1,983 — (1,848) 1,062 — 1,197 Measured at fair value Associates (iii) — 1,174,133 47,291 — — 1,221,424 Total 699,907 1,207,169 39,581 (19,579) 86,287 2,013,365 Entity 2019 Equity Equity in earnings Other comprehensive income Goodwill (i) 2020 Associates (ii.a) — 75,093 1,639 (56) 621,248 697,924 Joint ventures (ii.b) — 2,335 (777) 17 408 1,983 Total — 77,428 862 (39) 621,656 699,907 (i) Related to the acquisitions of associates and joint ventures. The goodwill recognized includes the value of expected synergies arising from the investments and includes an element of contingent consideration. (ii) At December 31, 2021, include interest in total and voting capital of the following companies: (a) Associates - Wealth High Governance Holding de Participações S.A. (49.9% total and voting capital at December 31,2021 and December 31, 2020); O Primo Rico Mídia, Educacional e Participações Ltda. (29.3% total and voting capital at December 31, 2021 and 20% at December 31, 2020); NK112 Empreendimentos e Participações S.A. (49.9% total and voting capital at December 31, 2021) (b) Joint ventures - Du Agro Holdings S.A. (49% total and voting capital at December 31, 2021 and December 31, 2020). (iii) As mentioned in Note 2 (iv) and Note 5 (c) (b), the Group measured the investments held through XP FIP Managers at fair value. The fair value of investments is presented in the statements of income as Net income from financial instruments at fair value through profit or loss.

Property, equipment, intangible

Property, equipment, intangible assets and leases	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Property, equipment, intangible assets and leases	Property, equipment, intangible assets and leases (a) Property and equipment Data processing system Furniture and equipment Security systems Facilities Fixed assets in progress Vehicle Total Balance as of January 1, 2019 28,771 21,641 2,553 46,162 — — 99,127 Additions 15,039 9,942 664 22,315 24,539 — 72,499 Write-offs (304) (2,047) — (6,112) — — (8,463) Transfers — 2,409 — 22,130 (24,539) — — Depreciation in the year (9,059) (4,189) (1,673) (5,778) — — (20,699) Balance as of December 31, 2019 34,447 27,756 1,544 78,717 — — 142,464 Cost 62,235 38,086 7,716 84,726 — — 192,763 Accumulated depreciation (27,788) (10,330) (6,172) (6,009) — — (50,299) Balance as of January 1, 2020 34,447 27,756 1,544 78,717 — — 142,464 Additions 15,457 5,539 1,239 2,650 120,279 — 145,164 Write-offs (2,432) (6,191) (535) (41,376) (963) — (51,497) Transfers (2,411) 516 (820) 14,279 (17,706) — (6,142) Depreciation in the year (11,179) (5,004) (425) (9,349) — — (25,957) as of December 31, 2020 33,882 22,616 1,003 44,921 101,610 — 204,032 Cost 53,871 32,592 2,158 54,890 101,610 — 245,121 Accumulated depreciation (19,989) (9,976) (1,155) (9,969) — — (41,089) Balance as of January 1, 2021 33,882 22,616 1,003 44,921 101,610 — 204,032 Additions 37,469 93 229 4 63,250 34,399 135,444 Write-offs (298) (728) (170) (375) (729) — (2,300) Transfers 5 (15) 15 — — — 5 Foreign Exchange (31) 245 (327) 3 — — (110) Depreciation in the year (13,096) (3,990) (60) (5,353) (35) (573) (23,107) Balance as of December 31, 2021 57,931 18,221 690 39,200 164,096 33,826 313,964 Cost 89,376 31,813 1,584 54,535 164,096 34,399 375,803 Accumulated depreciation (31,445) (13,592) (894) (15,335) — (573) (61,839) (b) Intangible assets Software Goodwill Customer list Trademarks Other intangible Assets Total Balance as of January 1, 2019 38,771 382,500 41,544 19,223 22,877 504,915 Additions 51,348 — 27,000 — 10,601 88,949 Write-offs (2,283) — — (33) (466) (2,782) Amortization in the year (21,526) — (7,945) (2,702) (5,457) (37,630) Balance as of December 31, 2019 66,310 382,500 60,599 16,488 27,555 553,452 Cost 104,270 382,500 105,977 22,239 39,823 654,809 Accumulated amortization (37,960) — (45,378) (5,751) (12,268) (101,357) Balance as of January 1, 2020 66,310 382,500 60,599 16,488 27,555 553,452 Additions 117,129 — 1,188 — 28,051 146,368 Business combination (Note 5(ii)) 8,143 91,866 2,181 3,314 — 105,504 Write-offs (22,064) — — — — (22,064) Transfers 2,857 — — — 3,285 6,142 Amortization in the year (57,222) — (5,683) (9,054) (3,881) (75,840) Balance as of December 31, 2020 115,153 474,366 58,285 10,748 55,010 713,562 Cost 219,029 474,366 76,050 52,616 55,010 877,071 Accumulated amortization (103,876) — (17,765) (41,868) — (163,509) Balance as of January 1, 2021 115,153 474,366 58,285 10,748 55,010 713,562 Additions 146,761 — 40,000 — 30,808 217,569 Business Combination 1,734 68,379 — 485 — 70,598 Write-offs (13,536) — — (1,000) (2,675) (17,211) Transfers 51,994 — — 485 (52,484) (5) Foreign Exchange (971) — — 341 204 (426) Amortization in the year (148,803) — (5,796) (8,492) (21) (163,112) Balance as of December 31, 2021 152,332 542,745 92,489 2,567 30,842 820,975 Cost 303,724 542,745 116,050 88,877 30,918 1,082,314 Accumulated amortization (151,392) — (23,561) (86,310) (76) (261,339) (c) Impairment test for goodwill Given the interdependency of cash flows and the merger of business practices, all Group’s entities are considered a single cash generating unit (“CGU”) and, therefore, a goodwill impairment test is performed at the single operating level. Therefore, the carrying amount considered for the impairment test represents the Company’s equity. The Group tests whether goodwill has suffered any impairment on an annual basis or more frequently if there is an impairment indicator. For the years ended December 31, 2021 and 2020, the recoverable amount of the single CGU was determined based on value-in-use calculations which require the use of assumptions. The calculations use cash flow projections based on financial budgets approved by management covering a four-year period. Cash flows beyond the four-year period are extrapolated using the estimated growth rates, which are consistent with forecasts included in industry reports specific to the industry in which the Group operates. The Group performed its annual impairment test as of December 31, 2021 and 2020 which did not result in the need to recognize impairment losses on the carrying value of goodwill. Key assumptions used in value-in-use calculations and sensitivity to changes in assumptions are: Assumption Approach used to determine values Sales Average annual growth rate over the four-year forecast period; based on past performance and management’s expectations of market development. Budgeted gross margin Based on past performance and management’s expectations for the future. Other operating costs Fixed costs, which do not vary significantly with sales volumes or prices. Management forecasts these costs based on the current structure of the business, adjusting for inflationary increases but not reflecting any future restructurings or cost saving measures. The amounts disclosed above are the average operating costs for the four-year forecast period. Annual capital expenditure Expected cash costs. This is based on the historical experience of management, and the planned refurbishment expenditure. No incremental revenue or cost savings are assumed in the value-in-use model as a result of this expenditure. Long-term growth rate This is the weighted average growth rate used to extrapolate cash flows beyond the budget period. The rates are consistent with forecasts included in industry reports. Pre-tax discount rates Reflect specific risks relating to the relevant segments and the countries in which they operate. The long-term growth rate utilized in the impairment test of goodwill is 6.50%. Discount rates represent the current market assessment of the risks specific to the Group, taking into consideration the time value of the money and risks of the underlying assets that have not been incorporated in the cash flow estimates. The discount rate calculation is based on the specific circumstances of the Group and is derived from its weighted average cost of capital (WACC). The WACC taking into account both debt and equity. The cost of equity is derived from the expected return on investment by the Group’s investors. The cost of debt is based on the interest-bearing borrowings the Group has. Adjustments to the discount rate are made to factor in the specific amount and timing of the future tax flows in order to reflect a pre-tax discount rate. The average pre-tax discount rate applied to cash flow projections is 9.82% (December 31, 2020 – 10.47%). d) Leases Set out below, are the carrying amounts of the Group’s right-of-use assets and lease liabilities and the movements during the period: Right-of-use assets Lease liabilities As of January 1, 2020 227,478 255,406 Additions (i) 62,003 55,820 Depreciation expense (41,465) — Write-offs (78,321) (78,321) Interest expense — 19,456 Revaluation (9,115) (10,050) Impairment 422 — Effects of exchange rate 22,132 23,610 Payment of lease liabilities — (57,473) As of December 31, 2020 183,134 208,448 Current — 34,019 Non-current 183,134 174,429 As of January 1, 2021 183,134 208,448 Additions (i) 116,248 116,248 Depreciation expense (45,511) — Write-offs (856) — Interest expense — 17,488 Revaluation 25,305 24,234 Effects of exchange rate 6,189 7,486 Payment of lease liabilities — (55,349) As of December 31, 2021 284,509 318,555 Current — 71,925 Non-current 284,509 246,630 (i) Additions to right-of-use assets in the period include prepayments to lessors and accrued liabilities. The Group recognized rent expense from short-term leases and low-value assets of R$1,021 for the period ended December 31, 2021 (R$1,910 – December 31, 2020). The total rent expense of R$17,795 (R$9,615 – December 31, 2020), includes other expenses related to leased offices such as condominiums.

Financing instruments payable

Financing instruments payable	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Financing instruments payable	Financing instruments payable 2021 2020 Market funding operations (a) 20,122,206 5,216,599 Deposits 9,898,630 3,021,751 Demands deposits 229,691 44,536 Time deposits 9,662,694 2,977,215 Interbank deposits 6,245 — Financial bills 2,587,738 16,389 Structured operations certificates 7,635,838 2,178,459 Debt securities (b) 4,306,880 335,250 Debentures 169,094 335,250 Bond 4,137,786 — Total 24,429,086 5,551,849 Current 8,018,854 2,731,816 Non-Current 16,410,232 2,820,033 (a) Maturity Maturity - 2021 Class Within 30 days From 31 to 60 days From 61 to 90 days From 91 to 180 days From 181 to 360 days After 360 days Total Demand deposits 229,691 — — — — — 229,691 Time deposits 751,676 520,694 712,092 3,231,965 2,341,770 2,104,497 9,662,694 Interbank deposits — 3,125 — — — 3,120 6,245 Financial bills — — — 10,945 6,164 2,570,629 2,587,738 Structured operations certificates 1,510 3,940 5,428 9,120 21,640 7,594,200 7,635,838 Total 982,877 527,759 717,520 3,252,030 2,369,574 12,272,446 20,122,206 Maturity – 2020 Class Within 30 days From 31 to 60 days From 61 to 90 days From 91 to 180 days From 181 to 360 days After 360 days Total Demand deposits 44,536 — — — — — 44,536 Time deposits 67,501 1,185 57,781 191,886 2,161,762 497,100 2,977,215 Financial bills — — — — — 16,389 16,389 Structured operations certificates — — — 945 1,489 2,176,025 2,178,459 Total 112,037 1,185 57,781 192,831 2,163,251 2,689,514 5,216,599 (b) Debt securities The total balance is comprised of the following issuances: 2021 2020 Up to 1 year 1-5 years Total Up to 1 year 1-5 years Total Bonds (i) Fixed rate — 4,137,786 4,137,786 — — — Debentures (ii) Fixed rate / Variable Rate 169,094 — 169,094 204,731 130,519 335,250 Total 169,094 4,137,786 4,306,880 204,731 130,519 335,250 Current 169,094 204,731 Non- Current 4,137,786 130,519 (i) XP Inc Bonds On July 1, 2021, XP Inc. concluded the issuance of a gross of US$750 million senior unsecured notes with net proceeds of US$739 million (R$3,697 million) with maturity on July 1, 2026 and bear interest at the rate of 3.250% per year and will be guaranteed by XP Investimentos S.A. (ii) Debentures The principal amount and accrued interest payables related to the issuance are as follow: (i) for the principal amount, 50% was due and paid on May 15, 2021 and the remaining balance on the maturity date of May 15, 2022, and (ii) the accrued interest is payable every 12 months from the issuance date. The annual rate is 107.5% CDI with a unit value at in the period ended of R$505,680. Debentures are subject to financial covenants, which have certain performance conditions. The Group has complied with these covenants throughout the reporting period (Note 36 (ii)). (iii) XP Energy issuance a. Promissory Note On September 9, 2021, XP Energia, a group’s subsidiary, issued the first promissory note with the objective of funding the Group’s working capital and treasury investments related to wholesale electricity trade business. The principal amount of R$80,000 is due and payable on the maturity date of September 4, 2022, and the interest rate is CDI + 3.5% pre-fixed rate annually payable. On December 31, 2021 the total amount was R$82,608, which is hold by entities within the Group and as such is not included in the consolidated financial statement. b. Debentures On December 8, 2021, XP Energia issued non-convertible Debentures in the amount of R$90,000. The Debentures series has a maximum authorized issuance up to R$1,500,000. The objective is to fund the Group’s working capital and treasury investments related to wholesale electricity trade business. The principal amount is due and will be paid on the maturity date of December 8, 2023. The interest rate is CDI+2.5% pre-fixed rate annually payable. On December 31, 2021 the total amount is R$90,679, which is hold by entities within the Group and as such is not included in the consolidated financial statement.

Securities trading and intermed

Securities trading and intermediation	12 Months Ended
	Dec. 31, 2021
Summary of Securities, Trading and Intermediation Assets and Liabilities [Abstract]
Securities trading and intermediation	Securities trading and intermediation Represented by operations at B3 on behalf of and on account of third parties, with liquidation operating cycle between D+1 and D+3. 2021 2020 Cash and settlement records 107,246 18,128 Debtors pending settlement 1,380,393 1,088,923 (-) Expected losses on Securities trading and intermediation (a) (81,988) (55,485) Total Assets 1,405,651 1,051,566 Cash and settlement records 365,700 59,712 Creditors pending settlement 15,231,855 20,243,409 Total Liabilities 15,597,555 20,303,121 (a) The reconciliation of gross carrying amount and the expected loss segregated by stage according to IFRS 9 is included in Note 14.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about borrowings [abstract]
Borrowings	Borrowings Interest rate % Maturity 2021 2020 Bank borrowings – domestic (i) 113% of CDI(*) March 2021 — 10,523 Related parties 10,523 Financial institution (iii) 0.813% May 2022 1,651,871 — Financial institution (ii) CDI (*)+ 0.774% April 2023 276,911 273,564 Third parties 1,928,782 273,564 Total borrowings 1,928,782 284,087 Current 1,661,067 17,637 Non-current 267,715 266,450 (*) Brazilian Interbank Offering Rate (CDI). (i) Loan agreement with Itaú Unibanco that was fully paid on March 8, 2021. (ii) Loan agreement entered into on March 28, 2018 with the International Finance Corporation (IFC). The principal amount is due on the maturity date and accrued interests payable at every six months. (iii) Loan agreement with Banco Nacional de México . Some of the obligations above contain financial covenants, which have certain performance conditions. The Group has complied with these covenants throughout the reporting period (Note 36 (ii)).

Other financial assets and fina

Other financial assets and financial liabilities	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Other financial assets and financial liabilities	Other financial assets and financial liabilities (a) Other financial assets 2021 2020 Foreign exchange portfolio 331,563 43,129 Receivables from IFAs 177,895 27,377 Other financial assets 1,723 2,777 (-) Expected losses on other financial assets (i) (49,666) (3,312) Total 461,515 69,971 Current 331,563 43,129 Non-current 129,952 26,842 (i) The reconciliation of gross carrying amount and the expected loss according to IFRS 9 is presented in Note 14. (b) Other financial liabilities 2021 2020 Foreign exchange portfolio 425,409 70,208 Structured financing (i) 2,415,400 874,771 Credit cards operations 2,522,833 50,727 Contingent consideration (ii) 743,443 462,000 Commitments subject to possible redemption (iii) 1,080,721 — Lease liabilities 318,555 208,448 Others 174,111 40,078 Total 7,680,472 1,706,232 Current 5,860,674 1,244,232 Non-current 1,819,798 462,000 (i) Financing for maintenance of financial assets required to perform financial transactions. (ii) Contractual contingent considerations mostly associated with the acquisition of participations (Note 15). The maturity of the total contingent consideration payment is up to 6 years and the contractual maximum amount payable is R$878,506 (the minimum amount is zero). In December 31, 2021, the total amount include R$216,666 of contingent consideration derived by our acquisitions (Note 5.ii.b). (iii) Related to the IPO transaction of XPAC Acquisition Corp. that occurred on August 3, 2021. The capital issued by XPAC Acquisition Corp. includes conditionally redeemable Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control. The noncontrolling shareholders of XPAC Acquisition Corp. have the right to redeem their shares in cash at the earliest of (i) upon the completion of XPAC Acquisition Corp’s initial business combination or (ii) 24 months from the closing of the IPO transaction.

Social and statutory obligation

Social and statutory obligations	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Social and Statutory obligations	Social and Statutory obligations Social and Statutory obligations are mainly composed from the Group sharing program for its employees which does not extend to the Executive Board. As of December 31, 2021, the balance of unrealized gains on the balance sheet under the "Social and statutory obligations” line item is R$1,022,212 (R$667,448 as of December 31, 2020). 2021 2020 Obligations to non-controlling interest 106,648 82,524 Employee profit-sharing (a) 776,713 483,378 Salaries and other benefits payable 138,851 101,546 Total 1,022,212 667,448 (a) The Group has a bonus scheme for its employees based on a profit sharing program as agreed under collective bargaining with the syndicate, which does not extend to the Executive Board. The bonus is calculated at each half of the year and payments are made in February and August.

Tax and social security obligat

Tax and social security obligations	12 Months Ended
	Dec. 31, 2021
Tax and Social Security Obligations [Abstract]
Tax and social security obligations	Tax and social security obligations 2021 2020 Income Tax (IRPJ and CSLL) 273,395 261,490 Taxes on long term incentive plan (a) 155,454 62,155 Contributions over revenue (PIS and COFINS) 32,140 46,136 Taxes on services (ISS) 23,260 23,729 Contributions for Social Security (INSS) 20,318 12,291 Others 45,084 30,048 Total 549,651 435,849 Current 549,651 435,849 Non-current — — (a) The amount classified as "Taxes on long term incentive plan" includes mostly contributions to Brazilian Social Security Programs FGTS and INSS. The Group income tax liability is presented net of tax assets which the entities are allowed to offset during the current year. The line includes current Corporate Income Tax (CIT) liability of R$610,265 (R$536,422 - 2020) and Prepayments CIT of R$538,809 (R$291,973 – 2020). The line also includes taxes that XP is responsible to pay on behalf of its clients (i.e., withholding taxes over client’s investments) in the amount of R$17,561 (R$20,219 – 2020).

Private pension liabilities

Private pension liabilities	12 Months Ended
	Dec. 31, 2021
Disclosure of defined benefit plans [abstract]
Private pension liabilities	Private pension liabilities As of December 31, 2021, active plans are principally accumulation of financial resources through products PGBL and VGBL structured in the form of variable contribution, for the purpose of granting participants with returns based on the accumulated capital in the form of monthly withdraws for a certain term or temporary monthly withdraws. In this respect, such financial products represent investment contracts that have the legal form of private pension plans, but which do not transfer insurance risk to the Group. Therefore, contributions received from participants are accounted for as liabilities and balance consists of the balance of the participant in the linked FIE at the reporting date (Note 7 (a)). Changes in the period 2021 2020 As of January 1 13,387,913 3,759,090 Contributions received 3,056,032 1,678,532 Transfer with third party plans 16,854,605 7,657,636 Withdraws (1,468,710) (304,194) Interest from assets within FIEs 91,560 596,849 As of December 31 31,921,400 13,387,913

Income tax

Income tax	12 Months Ended
	Dec. 31, 2021
Major components of tax expense (income) [abstract]
Income tax	Income tax (a) Deferred income tax Deferred tax assets (DTA) and deferred tax liabilities (DTL) are comprised of the main following components: Balance Sheet Net change in the year 2021 2020 2021 2020 2019 Tax losses carryforwards 108,138 7,382 100,756 (9,764) (38,212) Goodwill on business combinations (i) 12,429 22,838 (10,409) 535 (37,690) Provisions for IFAs’ commissions 76,974 94,544 (17,570) 26,503 37,010 Revaluations of financial assets at fair value 173,740 (16,780) 190,520 (42,039) 23,862 Expected credit losses 43,931 19,444 24,487 13,778 2,587 Profit sharing plan 260,865 164,808 96,057 23,672 141,136 Net gain on hedge instruments 28,124 20,987 7,137 57,371 (34,943) Share-based compensation 385,594 115,976 269,618 113,025 2,950 Other provisions 154,340 67,495 86,845 34,211 42,301 Total 1,244,135 496,694 747,441 217,292 139,001 Deferred tax assets 1,273,069 505,046 Deferred tax liabilities (28,934) (8,352) (i) For tax purposes, goodwill is amortized over 5 years on a straight-line basis when the entity acquired is sold or merged into another entity. The changes in the net deferred tax were recognized as follows: 2021 2020 2019 At January 1 496,694 279,401 140,400 Foreign exchange variations (16,949) 6,372 (3,461) Charges to statement of income 387,551 196,498 139,411 Tax relating to components of other comprehensive income 376,839 14,423 3,051 At December 31 1,244,135 496,694 279,401 Unrecognized deferred taxes Deferred tax assets are recognized for tax losses to the extent that the realization of the related tax benefit against future taxable profits is probable. The Group did not recognize deferred tax assets of R$39,446 (2020 - R$37,309) mainly in respect of losses from subsidiaries overseas and that can be carried forward and used against future taxable income. (b) Income tax expense reconciliation The tax on the Group's pre-tax profit differs from the theoretical amount that would arise using the weighted average tax rate applicable to profits of the consolidated entities. The following is a reconciliation of income tax expense to profit (loss) for the year, calculated by applying the combined Brazilian statutory rates at 34% for the year ended December 31: 2021 2020 2019 Income before taxes 3,815,174 2,421,413 1,544,109 Combined tax rate in Brazil (a) 34.00 % 34.00 % 34.00 % Tax expense at the combined rate 1,297,159 823,280 524,997 Loss (income from entities not subject to deferred taxation 554 (12,470) (9,551) Effects from entities taxed at different rates 146,377 35,377 25,948 Effects from entities taxed at different taxation regimes (b) (1,128,400) (443,579) (24,089) Intercompany transactions with different taxation regimes (79,055) (74,289) (50,138) Tax incentives (21,036) (14,354) (9,772) Non-deductible expenses (non-taxable income) 25,216 49,640 33,854 Others (18,101) (23,681) (36,624) Total 222,714 339,924 454,625 Effective tax rate 5.84 % 14.04 % 29.44 % Current 610,265 536,422 594,037 Deferred (387,551) (196,498) (139,412) Total expense 222,714 339,924 454,625 (a) Considering that XP Inc. is domiciled in Cayman and there is no income tax in that jurisdiction, the combined tax rate of 34% demonstrated above is the current rate applied to XP Investimentos S.A. which is the holding company of all operating entities of XP Inc. in Brazil. (b) Certain eligible subsidiaries adopted the PPM tax regime and the effect of the presumed profit of subsidiaries represents the difference between the taxation based on this method and the amount that would be due based on the statutory rate applied to the taxable profit of the subsidiaries. Additionally, some entities and investment funds adopt different taxation regimes according to the applicable rules in their jurisdictions. Other comprehensive income The tax (charge)/credit relating to components of other comprehensive income is as follows: Before tax (Charge) / Credit After tax Foreign exchange variation of investees located abroad 6,823 — 6,823 Gains (losses) on net investment hedge (10,543) 3,410 (7,133) Changes in the fair value of financial assets at fair value 1,057 (359) 698 As of December 31, 2019 (2,663) 3,051 388 Foreign exchange variation of investees located abroad 57,439 — 57,439 Gains (losses) on net investment hedge (91,762) 31,199 (60,563) Changes in the fair value of financial assets at fair value 40,979 (16,776) 24,203 As of December 31, 2020 6,656 14,423 21,079 Foreign exchange variation of investees located abroad 20,977 — 20,977 Gains (losses) on net investment hedge (29,700) 10,942 (18,758) Changes in the fair value of financial assets at fair value (914,914) 365,897 (549,017) As of December 31, 2021 (923,637) 376,839 (546,798)

Equity

Equity	12 Months Ended
	Dec. 31, 2021
Disclosure of classes of share capital [abstract]
Equity	Equity (a) Issued capital The Company has an authorized share capital of US$35 thousand, corresponding to 3,500,000,000 authorized shares with a par value of US$0.00001 each of which: • 2,000,000,000 shares are designated as Class A common shares and issued; and • 1,000,000,000 shares are designated as Class B common shares and issued. The remaining 500,000,000 authorized but unissued shares are presently undesignated and may be issued by our board of directors as common shares of any class or as shares with preferred, deferred or other special rights or restrictions. Therefore, the Company is authorized to increase capital up to this limit, subject to approval of the Board of Directors. As of December 31, 2021, the Company had R$23 of issued capital which were represented by 424,153,735 Class A common shares and 135,394,989 Class B common shares. (b) Additional paid-in capital and capital reserve Our Class A and Class B common shares, have the following rights: • Each holder of a Class B common share is entitled, in respect of such share, to 10 votes per share, whereas the holder of a Class A common share is entitled, in respect of such share, to one vote per share. • Each holder of Class A common shares and Class B common shares vote together as a single class on all matters (including the election of directors) submitted to a vote of shareholders, except as provided below and as otherwise required by law. • Class consents from the holders of Class A common shares and Class B common shares, as applicable, shall be required for any modifications to the rights attached to their respective class of shares the rights conferred on holders of Class A common shares shall not be deemed to be varied by the creation or issue of further Class B common shares and vice versa; and • the rights attaching to the Class A common shares and the Class B common shares shall not be deemed to be varied by the creation or issue of shares with preferred or other rights, including, without limitation, shares with enhanced or weighted voting rights. The Articles of Association provide that at any time when there are Class A common shares in issue, Class B common shares may only be issued pursuant to: (a) a share split, subdivision of shares or similar transaction or where a dividend or other distribution is paid by the issue of shares or rights to acquire shares or following capitalization of profits; (b) a merger, consolidation, or other business combination involving the issuance of Class B common shares as full or partial consideration; or (c) an issuance of Class A common shares, whereby holders of the Class B common shares are entitled to purchase a number of Class B common shares that would allow them to maintain their proportional ownership and voting interests in XP Inc. Below is a summary of the issuances and conversions of shares during 2021 and 2020: Class A Class B Total Shares As of December 31, 2019 354,181,346 197,618,980 551,800,326 Transfer of classes 16,325,000 (16,325,000) — Follow on offering 7,258,639 — 7,258,639 As of December 31, 2020 377,764,985 181,293,980 559,058,965 Transfer of classes (see note 1.2) 45,898,991 (45,898,991) — Issuance of shares 489,759 — 489,759 As of December 31, 2021 424,153,735 135,394,989 559,548,724 In December 2020, as a result of the completion of the secondary public offering described in Note 1.2 a number of 7,258,639 Class A common shares were offered by the controlling shareholder of XP Inc. On October 8, 2021 XP Inc issued 489,759 Class A common shares as part of our acquisition of a minority stake of Jive Investments. As mentioned in Note 32, the Board of Directors approved in December 2019 a share based long-term incentive plan, in which the maximum number of shares should not exceed 5% of the issued and outstanding shares. As of December 31, 2021, the outstanding number of shares reserved under the plans were 15,153,830 restricted share units (“RSUs”) (2020 - 11,079,736) and 2,966,060 performance restricted units (“PSUs”) (2020 - 2,819,912) to be issued at the vesting date. The additional paid-in capital refers to the difference between the purchase price that the shareholders pay for the shares and their par value. Under Cayman Law, the amount in this type of account may be applied by the Company to pay distributions or dividends to members, pay up unissued shares to be issued as fully paid, for redemptions and repurchases of own shares, for writing off preliminary expenses, recognized expenses, commissions or for other reasons. All distributions are subject to the Cayman Solvency Test which addresses the Company’s ability to pay debts as they fall due in the natural course of business. (c) Treasury Shares On October 1, 2021, as a result of the merger of XPart into XP Inc., which was settled through XP Inc.’s own shares, the Group recognized an amount of treasury shares that is registered as a deduction from equity until the shares are cancelled or reissued. As of December 31, 2021, the Group held 726,776 thousand shares in treasury (nill in 2020), with an amount of R$171,939. (d) Dividends distribution The Group has not adopted a dividend policy with respect to future distributions of dividends. The amount of any distributions will depend on many factors such as the Company's results of operations, financial condition, cash requirements, prospects and other factors deemed relevant by XP Inc.board of directors and, where applicable, the shareholders. For the years ended December 31, 2021 and 2020 XP Inc. did not declare and paid dividends to the shareholders. Non-controlling shareholders of some XP Inc’s subsidiaries received dividends in the year ended in December 31, 2021 and 2020 in a total amount of R$3,026 and R$5,567 respectively. (e) Other comprehensive income Other comprehensive income consists of changes in the fair value of financial assets at fair value through other comprehensive income, while these financial assets are not realized. Also includes gains (losses) on net investment hedge and foreign exchange variation of investees located abroad.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2021
Disclosure of transactions between related parties [abstract]
Related party transactions	Related party transactions Transactions and remuneration of services with related parties are carried out in the ordinary course of business and under commutative conditions, including interest rates, terms and guarantees, and do not involve risks greater than normal collection or present other disadvantages. (a) Key-person management compensation Key management includes executive statutory directors, members of the Board of Directors and Executive Boards. The compensation paid or payable to key management for their services is shown below: 2021 2020 2019 Fixed compensation 8,801 6,335 4,821 Variable compensation 44,362 55,909 22,060 Total 53,163 62,244 26,881 In 2021 and 2020, the Board of Directors approved the grant of performance share unit (“PSUs”) to certain directors. The executive statutory directors of XP Inc control XP Controle Participações S.A. and XP Control. (b) Transactions with related parties The main transactions carried with related parties for year-end balances arising from such transactions are as follows: Assets/(Liabilities) Revenue/(Expenses) Relation and transaction 2021 2020 2021 2020 2019 Shareholders with significant influence (i) (2,096,701) (5,667,588) (60,177) (53,881) (49,779) Securities 194,892 112,127 4,270 9,629 10,381 Securities purchased under agreements to resell — — 19,098 — 1,550 Accounts receivable and Loans operations 9,205 11,238 744 505 1,025 Securities sold under repurchase agreements (2,300,798) (5,780,430) (84,268) (62,951) (58,078) Borrowings — (10,523) (21) (1,064) (4,657) (i) These transactions are mainly related to Itausa S.A. Group. Transactions with related parties also includes transactions among the Company and its subsidiaries in the course of normal operations include services rendered such as: (i) education, consulting and business advisory; (ii) financial advisory and financial consulting in general; (iii) management of resources and portfolio management; (iv) information technology and data processing; and (v) insurance. The effects of these transactions have been eliminated and do not have effects on the consolidated financial statements.

Provisions and contingent liabi

Provisions and contingent liabilities	12 Months Ended
	Dec. 31, 2021
Disclosure of other provisions [abstract]
Provisions and contingent liabilities	Provisions and contingent liabilitiesThe Company and its subsidiaries are party to judicial and administrative litigations before various courts and government bodies, arising from the normal course of operations, involving tax, civil and labor matters and other issues. Periodically, Management evaluates the tax, civil and labor and risks, based on legal, economic and tax supporting data, in order to classify the risks as probable, possible or remote, in accordance with the chances of them occurring and being settled, taking into consideration, case by case, the analyses prepared by external and internal legal advisors. 2021 2020 Tax contingencies 10,374 10,097 Civil contingencies 12,539 4,281 Labor contingencies 6,395 5,333 Total provision 29,308 19,711 Judicial deposits (i) 11,202 10,199 (i) There are circumstances in which the Group is questioning the legitimacy of certain litigations or claims filed against it. As a result, either because of a judicial order or based on the strategy adopted by management, the Group might be required to secure part or the whole amount in question by means of judicial deposits, without this being characterized as the settlement of the liability. These amounts are classified as “Other assets” on the consolidated balance sheets and referred above for information. Changes in the provision during the year 2021 2020 2019 Balance at January 1 19,711 15,193 17,474 Monetary correction 6,837 4,102 2,492 Provision 8,457 3,499 2,338 Reversed (3,132) (1,454) (3,939) Payments (2,565) (1,629) (3,172) Balance at December 31 29,308 19,711 15,193 Nature of claims a) Tax As of December 31, 2021, the Group has claims classified as probable risk of loss in the amount of R$10,374 (December 31, 2020 - R$10,097), regarding social contributions on revenue (PIS and COFINS), questioning the exclusion of this own taxes on the calculation basis over revenues. In accordance with Brazilian laws and tax regulations, this practice is legal for VAT (ICMS) taxes. These lawsuits are supported by court deposits in its entirety. b) Civil The majority of the civil and administrative claims involve matters that are normal and specific to the business, and refer to demands for indemnity primarily due to: (i) financial losses in the stock market; (ii) portfolio management; and (iii) alleged losses generated from the liquidation of customers assets in portfolio due to margin cause and/or negative balance. As of December 31, 2021, there were 105 civil and administrative claims for which the likelihood of loss has been classified as probable, in the amount of R$12,539 (December 31, 2020 - R$4,281). An amount of R$758 was deposited in court as of December 31, 2021 (December 31, 2020 – R$100). c) Labor Labor claims to which the Group is party primarily concern: (i) the existence (or otherwise) of a working relationship between the Group and IFAs; and (ii) severance payment of former employees. As of December 31, 2021, the Company and its subsidiaries are the defendants in approximately 18 cases involving labor matters for which the likelihood of loss has been classified as probable, in the amount of R$6,395 (December 31, 2020 - R$5,333). Contingent liabilities - probability of loss classified as possible In addition to the provisions constituted, the Company and its subsidiaries have several labor, civil and tax contingencies in progress, in which they are the defendants, and the likelihood of loss, based on the opinions of the internal and external legal advisors, is considered possible, and the contingencies amount to approximately R$487,121 (December 31, 2020 - R$217,426). Below is summarized these claims by nature: 2021 2020 Tax (i) 228,602 71,027 Civil (ii) 232,775 136,228 Labor 25,744 10,171 Total 487,121 217,426 (i) In December 2019, the Group was notified by tax authorities for a requirement of social security contributions due to employee profit sharing payments related to the calendar year 2015, allegedly in violation of Brazilian Law 10,101/00. Currently, the first appeal was denied by the first administrative level of the Revenue Service Office. The Group will provide the ordinary appeal to the Administrative Council of Tax Appeals (“CARF”). There are other favorable CARF precedents on the subject and the Group obtained legal opinions that support the Group’s defense and current practice. In November 2021, the Group was notified by tax authorities for a requirement of social security contributions due to employee profit sharing payments related to the calendar year 2017, allegedly in violation of Brazilian Law 10,101/00 and non-deductible expenses for the income tax in amount of received by the members of Council. The amount claimed is R$97,456. An administrative appeal was filed against the assessment, which is awaiting judgment by the Federal Revenue of Brazil (“RFB”). In December 2021, the Group received a tax assessment in total amount of R$58,262 for benefits that occurred in 2016, regarding the amortized goodwill originated in the acquisition of the General Atlantic and Actis at XP CCTVM in different years (2013 and 2016). An administrative appeal was filed against the assessment, which is awaiting judgment by the Federal Revenue of Brazil (“RFB”). (ii) The Group is defendant in 586 civil and administrative claims by customers and investment agents, mainly related to portfolio management, risk rating, copyrights and contract termination. The total amount represents the collective maximum value to which the Group is exposed based on the claims’ amounts monetarily restated.

Total revenue and income

Total revenue and income	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Total revenue and income	Total revenue and income a) Net revenue from services rendered Revenue from contracts with customers derives mostly from services rendered and fees charged at daily transactions from customers, therefore mostly recognized at a point in time. Disaggregation of revenue by major service lines are as follows: 2021 2020 2019 Major service lines Brokerage commission 2,465,217 2,139,985 1,288,135 Securities placement 1,917,403 1,429,824 1,154,786 Management fees 1,489,736 1,224,125 1,035,224 Insurance brokerage fee 133,070 112,802 106,438 Educational services 71,295 118,272 97,986 Commissions Fees 192,923 90,804 48,413 Other services 532,035 386,780 227,054 6,801,679 5,502,592 3,958,036 (-) Sales taxes and contributions on revenue (i) (605,214) (486,104) (362,264) 6,196,465 5,016,488 3,595,772 (i) Mostly related to taxes on services (ISS) and contributions on revenue (PIS and COFINS). b) Net income from financial instruments 2021 2020 2019 Net Income of financial instruments at fair value through profit or loss 7,555,132 3,020,698 1,360,207 Net Income of financial instruments measured at amortized cost and at fair value through other comprehensive income (1,558,060) 188,196 199,947 (-) Taxes and contributions on financial income (116,425) (73,777) (28,118) 5,880,647 3,135,117 1,532,036 c) Disaggregation by geographic location 2021 2020 2019 Brazil 11,723,976 7,454,304 4,790,236 United States (ii) 332,046 655,817 307,456 Europe 21,090 41,484 30,116 Total Revenue and Income 12,077,112 8,151,605 5,127,808 2021 2020 Brazil 7,698,115 3,244,421 United States (ii) 106,736 129,956 Europe 1,746 4,123 Selected assets (i) 7,806,597 3,378,500 (i) Selected assets are Total assets of the Group, less: cash, financial assets and deferred tax assets are presented by geographic location. (ii) Includes revenues and selected assets stated in the Cayman Islands. None of the clients represented more than 10% of our revenues for the periods presented.

Operating costs

Operating costs	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Operating costs	Operating costs 2021 2020 2019 Commission and incentive costs 2,719,611 2,087,197 1,269,309 Operating losses 35,844 31,295 13,922 Other costs 674,654 526,867 313,419 Clearing house fees 411,605 344,278 201,083 Third parties’ services 88,431 92,997 76,669 Other 174,618 89,592 35,667 Total 3,430,109 2,645,359 1,596,650

Operating expenses by nature

Operating expenses by nature	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Operating expenses by nature	Operating expenses by nature 2021 2020 2019 Selling expenses 227,483 134,915 155,115 Advertising and publicity 227,483 134,915 155,115 Administrative expenses 4,692,698 3,013,598 1,891,481 Personnel expenses 3,427,220 2,138,470 1,261,887 Compensation 1,416,247 846,742 408,394 Employee profit-sharing and bonus 1,362,046 807,640 645,992 Executives profit-sharing 143,763 194,419 67,547 Benefits 130,187 75,302 47,457 Social charges 358,878 208,151 88,960 Other 16,099 6,216 3,537 Other taxes expenses 53,603 44,029 39,691 Depreciation of property and equipment and right-of-use assets 68,618 67,422 53,530 Amortization of intangible assets 163,112 75,839 37,630 Other administrative expenses 980,145 687,838 498,743 Data processing 450,796 322,659 178,860 Technical services 167,984 101,389 85,782 Third parties' services 249,514 168,019 145,730 Rent expenses 16,498 17,955 10,575 Communication 30,041 29,311 17,495 Travel 13,282 9,923 21,676 Legal and judicial 9,292 6,976 3,406 Other 42,738 31,606 35,219 Total 4,920,181 3,148,513 2,046,596

Other operating income, net

Other operating income, net	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Other operating income, net	Other operating income, net 2021 2020 2019 Other operating income 413,665 377,480 208,245 Revenue from incentives from Tesouro Direto, B3 and others (a) 366,163 352,879 101,615 Interest received on tax 7,604 5,521 31,782 Recovery of charges and expenses 4,473 1,798 53,453 Reversal of operating provisions 7,422 1,366 9,767 Other 28,003 15,916 11,628 Other operating expenses (89,311) (206,427) (54,888) Legal, administrative proceedings and agreement with customers (3,667) (45,277) (9,499) Losses on write-off and disposal of assets (4,377) (52,102) (10,265) Tax incentive expenses (10,788) (8,136) (7,060) Fines and penalties (1,378) (16,995) (1,191) Associations and regulatory fees (11,714) (13,524) (4,216) Charity (30,171) (41,654) (6,751) Other (27,216) (28,739) (15,906) Total 324,354 171,053 153,357 (a) Includes incentives received from third parties, mainly due to the joint development of retail products, and also the association of such entities with the XP ecosystem.

Share-based plan

Share-based plan	12 Months Ended
	Dec. 31, 2021
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share-based plan	Share-based plan a) Share-based Plan The establishment of the Plan was approved by the Board of Director’s meeting on December 6, 2019 and the first grant of RSUs and PSUs was on December 10, 2019. Under the plan, stocks are awarded at no cost to the recipient upon their grant date. Both RSUs and PSU, are usually granted in a annual basis, their vesting conditions are service-related and they vest at a rate determined in each granted date. The limit to vest is determined at the grant date of each new grant. After the vesting periods, common shares will be issued to the recipients. Under the Performance Share Unit, stocks are granted to eligible participants and their vesting period and conditions are determined at each new granted also based on the total shareholder return (TSR), including share price growth, dividends and capital returns. If an eligible participant ceases its relationship with the Group, within the vesting period, the rights will be forfeited, except in limited circumstances that are approved by the board on a case-by-case basis. b) Fair value of shares granted Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model and underlying assumptions, which depends on the terms and conditions of the grant and the information available at the grant date. The Company uses certain methodologies to estimate fair value which include the following: • Estimation of fair value based on equity transactions with third parties close to the grant date; and • Other valuation techniques including share pricing models such as Monte Carlo. These estimates also require determination of the most appropriate inputs to the valuation models including assumptions regarding the expected life of a share-based payment or appreciation right, expected volatility of the price of the Group’s shares and expected dividend yield. c) Outstanding shares granted and valuation inputs The maximum number of shares available for issuance under the share-based plan shall not exceed 5% of the issued and outstanding shares. As of December 31, 2021, the outstanding number of Company reserved under the plans were 18,119,890 (December 31, 2020 - 13,899,648) including RSUs 15,153,830 (December 31, 2021 - 11,079,736) and 2,966,060 PSUs (December 31, 2020 - 2,819,912). Set out below are summaries of XP Inc's RSU and PSU activity for 2021 and 2020. RSUs PSUs Total (In thousands, except weighted-average data, and where otherwise stated) Number of units Number of units Number of units Outstanding, January 1 2020 1,921,669 2,190,377 4,112,046 Granted 9,730,422 629,535 10,359,957 Forfeited (572,355) — (572,355) Outstanding, December 31, 2020 11,079,736 2,819,912 13,899,648 Outstanding, January 1, 2021 11,079,736 2,819,912 13,899,648 Granted 5,709,046 230,086 5,939,132 Forfeited (1,634,952) (83,938) (1,718,890) Outstanding, December 31, 2021 15,153,830 2,966,060 18,119,890 No options expired or vested during the periods covered by the above table. As of December 31, 2021, total compensation expense of the plans was R$654,876 (2020 - R$292,817), including R$93,421 (2020 - R$60,026) of tax provisions.

Earnings per share (basic and d

Earnings per share (basic and diluted)	12 Months Ended
	Dec. 31, 2021
Earnings per share [abstract]
Earnings per share (basic and diluted)	Earnings per share (basic and diluted) Basic earnings per share is calculated by dividing net income for the period attributed to the owners of the parent by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is calculated by dividing net income attributable to owners of XP Inc by the weighted average number of shares outstanding during the year plus the weighted average number of shares that would be issued on conversion of all dilutive potential shares into shares. The shares in the share-based plan are the only shares with potential dilutive effect. The following table presents the calculation of net income applicable to the owners of the parent and basic and diluted EPS for the years ended December 31, 2021, 2020 and 2019. 2021 2020 2019 Net Income attributable to owners of the Parent 3,589,416 2,076,430 1,080,484 Basic weighted average number of outstanding shares 559,004 552,291 511,462 Basic earnings per share - R$ 6.4211 3.7597 2.1125 Effect of dilution Shared-based plan and treasury shares 14,496 6,817 248 Diluted weighted average number of outstanding shares 573,499 559,108 511,710 Diluted earnings per share - R$ 6.2588 3.7138 2.1115 (i) See on note 25, the number of XP Inc.’s outstanding common shares during the year (ii) See on note 32, the number of shares granted and forfeited during the year regarding XP Inc.’s Share-based plan. (iii) Thousands of shares.

Determination of fair value

Determination of fair value	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Determination of fair value	Determination of fair value The Group measures financial instruments such as certain financial investments and derivatives at fair value at each balance sheet date. Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices at the end of the reporting period. The financial instruments included in the level 1 consist mainly in public financial instruments and financial instruments negotiated on active markets (i.e. Stock Exchanges). Level 2: The fair value of financial instruments that are not traded in active markets is determined using valuation techniques, which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value as an instrument are directly or indirectly observable, the instrument is included in level 2. The financial instruments classified as level 2 are composed mainly from private financial instruments and financial instruments negotiated in a secondary market. Level 3: If one or more of the significant inputs is unobservable, the instrument is included in level 3. This is the case for unlisted equity securities. Specific valuation techniques used to value financial instruments include: • Financial assets (other than derivatives) - The fair value of securities is determined by reference to their closing prices on the date of presentation of the consolidated financial statements. If there is no market price, fair value is estimated based on the present value of future cash flows discounted using the observable rates and market rates on the date of presentation. • Swap – These operations swap cash flow based on the comparison of profitability between two indexers. Thus, the agent assumes both positions – put in one indexer and call on another. • Forward - at the market quotation value, and the installments receivable or payable are prefixed to a future date, adjusted to present value, based on market rates published at B3. • Futures – Foreign exchange rates, prices of shares and commodities are commitments to buy or sell a financial instrument at a future date, at a contracted price or yield and may be settled in cash or through delivery. Daily cash settlements of price movements are made for all instruments. • Options - option contracts give the purchaser the right to buy the instrument at a fixed price negotiated at a future date. Those who acquire the right must pay a premium to the seller. This premium is not the price of the instrument, but only an amount paid to have the option (possibility) to buy or sell the instrument at a future date for a previously agreed price. • Others: Derivatives – the warrant liabilities issued by XPAC Corporation Corp. contain features that qualify as embedded derivatives. The fair value of Public Warrants issued in connection with the Initial Public Offering have been measured based on the listed market price of such warrants. • Other financial assets and liabilities - Fair value, which is determined for disclosure purposes, is calculated based on the present value of the principal and future cash flows, discounted using the observable rates and market rates on the date the financial statements are presented. • Loans operations – Fair value is determined through the present value of expected future cash flows discounted using the observable rates and market rates on the date the financial statements are presented. • Contingent consideration: Fair value of the contingent consideration liability related to acquisitions is estimated by applying the income approach and discounting the expected future payments to selling shareholders under the terms of the purchase and sale agreements. All of the resulting fair value estimates are included in level 2, except for unlisted equity securities, contingent consideration receivable and certain financial assets, where the fair values. have been determined based on present values and the discount rates used were adjusted for counterparty or own credit risk. Below are the Group financial assets and liabilities by level within the fair value hierarchy. The Group assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels: 2021 Level 1 Level 2 Level 3 Fair Value Book Value Financial Assets Financial assets at Fair value through profit or loss Securities 49,677,779 8,502,176 — 58,179,955 58,179,955 Derivative financial instruments 194,911 10,748,803 — 10,943,714 10,943,714 Fair value through other comprehensive income Securities 32,332,377 — — 32,332,377 32,332,377 Evaluated at amortized cost Securities 1,870,205 671,977 — 2,542,182 2,238,807 Securities purchased under agreements to resell — 9,124,719 — 9,124,719 8,894,531 Securities trading and intermediation — 1,405,651 — 1,405,651 1,405,651 Accounts receivable — 469,086 — 469,086 469,086 Loan operations — 12,844,037 — 12,844,037 12,819,627 Other financial assets — 461,515 — 461,515 461,515 Financial liabilities Fair value through profit or loss Securities loaned 2,237,442 518,804 — 2,665,202 2,665,202 Derivative financial instruments 157,710 11,750,473 — 11,908,183 11,908,183 Evaluated at amortized cost Securities sold under repurchase agreements — 26,276,252 — 26,276,252 26,281,345 Securities trading and intermediation — 15,597,555 — 15,597,555 15,597,555 Financing instruments payable — 23,974,348 — 23,974,348 24,429,086 Borrowings — 1,932,859 — 1,932,859 1,928,782 Accounts payables — 867,526 — 867,526 867,526 Other financial liabilities — 6,937,029 743,443 7,680,472 7,680,472 Investments in associates measured at fair value — — 1,221,424 1,221,424 1,221,424 2020 Level 1 Level 2 Level 3 Fair Value Book Value Financial Assets Financial assets at Fair value through profit or loss Securities 35,549,047 14,040,966 — 49,590,013 49,590,013 Derivative financial instruments 26,535 7,532,898 — 7,559,433 7,559,433 Fair value through other comprehensive income Securities 19,039,044 — — 19,039,044 19,039,044 Evaluated at amortized cost Securities 1,830,031 — — 1,830,031 1,828,704 Securities purchased under agreements to resell — 6,627,044 — 6,627,044 6,627,409 Securities trading and intermediation — 1,051,566 — 1,051,566 1,051,566 Accounts receivable — 506,359 — 506,359 506,359 Loan operations — 4,037,954 — 4,037,954 3,918,328 Other financial assets — 69,971 — 69,971 69,971 Financial liabilities Fair value through profit or loss Securities loaned 2,237,442 — — 2,237,442 2,237,442 Derivative financial instruments 13,221 7,806,143 — 7,819,364 7,819,364 Evaluated at amortized cost Securities sold under repurchase agreements — 31,810,893 — 31,810,893 31,839,344 Securities trading and intermediation — 20,303,121 — 20,303,121 20,303,121 Financing instruments payable — 5,162,453 — 5,162,453 5,551,849 Borrowings — 283,993 — 283,993 284,087 Debentures — 331,520 — 331,520 335,250 Accounts payables — 859,550 — 859,550 859,550 Other financial liabilities — 1,244,232 462,000 1,706,232 1,706,232 As of December 31, 2021, and 2020 the total contingent consideration liability is reported at fair value and is dependent on the profitability of the acquired associate and businesses. The total contingent consideration is classified within Level 3 of the fair value hierarchy. The contingent consideration liability represents the maximum amount payable under the purchase and sale agreements discounted using a weighted average rate of 10.09% p.a. Change in the discount rate by 100 bps would increase/decrease the fair value by R$18,751. The change in the fair value in the contingent consideration between the acquisition date and December 31, 2021 was not material. The investments held through XP FIP Managers, which is considered to be a venture capital investment is classified as Level 3 of the fair value hierarchy. The inputs used by the Group are derived for discounted rates for these investments using a capital asset model to calculate a pre-tax rate that reflects current market assessments of the time value of money and the risk specific to the asset. Change in the discount rate by 100 bps would increase/decrease the fair value by R$12,214. Transfers into and out of fair value hierarchy levels are analyzed at the end of each consolidated financial statement. As of December 31, 2021, the Group had no transfers between Level 2 and Level 3.

Management of financial risks a

Management of financial risks and financial instruments	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Management of financial risks and financial instruments	Management of financial risks and financial instruments (a) Overview The Group is exposed to the following risks: (i) Credit risk; (ii) Liquidity risk; (iii) Market risk; • Currency risk; • Interest rate risk; • Price risk. (iv) Operating risk. (b) Risk management structure Management has overall responsibility for establishing and supervising the risk management structure of the Group. Risk Management is under a separated structure from business areas, reporting directly to senior management, to ensure exemption of conflict of interest, and segregation of functions appropriate to good corporate governance and market practices. The risk management policies of the Group are established to identify and analyze the risks faced, to set appropriate risk limits and controls, and to monitor risks and adherence to the limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and in the activities of the Group. The Group, through its training and management standards and procedures, developed a disciplined and constructive control environment within which all its employees are aware of their duties and obligations. Regarding the subsidiary XP CCTVM and the other subsidiaries components of XP Prudential Conglomerate (Brazilian Central Bank oversight definition), the organizational structure is based on the recommendations proposed by the Basel Accord, in which procedures, policies and methodology are formalized consistent with risk tolerance and with the business strategy and the various risks inherent to the operations and/or processes, including market, liquidity, credit and operating risks. The Group seeks to follow the same risk management practices as those applying to all companies. Such risk management processes are also related to going concern management procedures, mainly in terms of formulating impact analyses, business continuity plans, contingency plans, backup plans and crisis management. (c) Credit risk Credit risk is defined as the possibility of losses associated with the failure, by the borrower or counterparty, of their respective financial obligations under the agreed terms, the devaluation of the credit agreement resulting from the deterioration in the borrower's risk rating, the reduction gains or remuneration, the advantages granted in the negotiation and the costs of recovery. The Risk Management document establishes its credit policy based on the composition of the portfolio by security, by internal rating of issuer and/or the issue, by the current economic activity, by the duration of the portfolio, by the macroeconomic variables, among others. The Credit Analysis department is also actively involved in this process and it is responsible for assessing the credit risk of issues and issuers with which it maintains or intends to maintain credit relationships, also using an internal credit risk allocation methodology (rating) to classify the likelihood of loss of counterparties. For the loan operations XP Inc uses client’s investments as collaterals to reduce potential losses and protect against credit risk exposure by managing these collaterals so that they are always sufficient, legally enforceable (effective) and viable, XP monitors the value of the collaterals. The Credit Risk Management provides subsidies to define strategies as risk appetite, to establish limits, including exposure analysis and trends as well as the effectiveness of the credit policy. The loans operations have a high credit quality and the Group often uses risk mitigation measures, primarily through client’s investments as collaterals, which explains the low provision ratio. The Group's policies regarding obtaining collateral have not significantly changed during the reporting period and there has been no significant change in the overall quality of the collateral held by the Group since the prior period. Management undertakes credit quality analysis of assets that are not past due or reduced to recoverable value. As of December 31, 2021, and 2020 such assets were substantially represented by Loan operations and Securities purchased under agreements to resell of which the counterparties are Brazilian banks with low credit risk, securities issued by the Brazilian government, as well as derivative financial instruments transactions, which are mostly traded on the stock exchange (B3 S.A. – Brasil, Bolsa, Balcão) and which, therefore, have its guarantee. The carrying amount of the financial assets representing the maximum exposure to credit risk is shown in the table below: 2021 2020 Financial assets Securities purchased under agreements to resell 8,894,531 6,627,409 Securities 92,751,139 70,457,761 Public securities 48,246,922 51,944,301 Private securities 44,504,217 18,513,460 Derivative financial instruments 10,943,714 7,559,433 Securities trading and intermediation 1,405,651 1,051,566 Accounts receivable 469,086 506,359 Loan operations 12,819,627 3,918,328 Other financial assets 461,515 69,971 Off-balance exposures (credit card limits) 1,367,399 35,810 Total 129,112,662 90,190,827 (d) Liquidity risk Liquidity risk is the possibility that the institution will not be able to efficiently honor its expected, unexpected, current or future obligations. Liquidity management operates in line with the Group's strategy and business model, being compatible with the nature of operations, the complexity of its products and the relevance of risk exposure. This liquidity management policy establishes actions to be taken in cases of liquidity contingency, and these must be sufficient to generate a new meaning for cash within the required minimum limits. The group maintains an adequate level of liquidity at all times, always working with a minimum cash limit. This is done through management that is compatible and consistent with your ability obtaining resources in the market, with its budgetary targets for the evolution of the volume of its assets and is based on the management of cash flows, observing the minimum limits of daily cash balances and cash needs projections, in the management of stocks of highly liquid assets and simulations of adverse scenarios. Risk structure and management are the responsibility of the Risk department, reporting to the Executive Board, thus avoiding any conflict of interest with departments that require liquidity. (d1) Maturities of financial liabilities The tables below summarizes the Group’s financial liabilities into groupings based on their contractual maturities: 2021 Liabilities Up to 1 month From 2 to 3 months From 3 to 12 months From 1 to 5 years Above 5 years Contractual cash flow Securities loaned 2,146,398 — — — 518,804 2,665,202 Derivative financial instruments 758,821 1,379,092 2,250,942 6,436,008 1,083,320 11,908,183 Securities sold under repurchase agreements 26,281,345 — — — — 26,281,345 Securities trading and intermediation 15,597,555 — — — — 15,597,555 Financing instruments payable 982,877 1,245,279 5,790,698 15,525,061 885,171 24,429,086 Borrowings — — 1,661,067 267,715 — 1,928,782 Accounts payables 867,526 — — — — 867,526 Other financial liabilities 5,856,309 — 4,365 1,819,798 — 7,680,472 Total 52,490,831 2,624,371 9,707,072 24,048,582 2,487,295 91,358,151 2020 Liabilities Up to 1 month From 2 to 3 months From 3 to 12 months From 1 to 5 years Above 5 years Contractual cash flow Securities loaned 2,237,442 — — — — 2,237,442 Derivative financial instruments 1,572,140 814,220 2,643,065 2,205,410 584,529 7,819,364 Securities sold under repurchase agreements 31,839,344 — — — — 31,839,344 Securities trading and intermediation 20,303,121 — — — — 20,303,121 Financing instruments payable 128,426 58,966 2,356,082 1,685,468 1,322,907 5,551,849 Borrowings 3,535 6,989 7,114 266,449 — 284,087 Accounts payables 859,550 — — — — 859,550 Other financial liabilities 1,038,628 5,721 25,454 571,054 65,375 1,706,232 Total 57,982,186 885,896 5,031,715 4,728,381 1,972,811 70,600,989 (e) Market risk Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises mainly three types of risk: foreign exchange variation, interest rates and share prices. The aim of market risk management is to control exposure to market risks, within acceptable parameters, while optimizing return. Market risk management for operations is carried out through policies, control procedures and prior identification of risks in new products and activities, with the purpose to maintain market risk exposure at levels considered acceptable by the Group and to meet the business strategy and limits defined by the Risk Committee. The main tool used to measure and control the exposure risk of the Group to the market, mainly in relation to their trading assets portfolio, is the Maps Luna program, which calculates the capital allocation based on the exposure risk factors in the regulations issued by Brazil Central Bank (“BACEN”) for financial institutions, which are taken as a basis for the verification of the risk exposure of the assets of the Group. In order to comply with the provisions of the regulatory body, the financial institutions of the Group make daily control of the exposure by calculating the risk portions, recording the results in Document 2011 - Daily Statement of Capital Requirements (DDR) in BACEN Circular Letter No, 3,331/08, submitting it daily to this institution. With the formalized rules, the Risk Department has the objective of controlling, monitoring and ensuring compliance with the pre-established limits, and may refuse, in whole or in part, to receive and/or execute the requested transactions, upon immediate communication to customers, in addition to intervening in cases of non-compliance and reporting all atypical events to the Committee. In addition to the control performed by the tool, the Group adopt guidelines to control the risk of the assets that mark the Treasury operations so that the own portfolios of the participating companies are composed of assets that have low volatility and, consequently, less exposure to risk, In the case of non-compliance with the operational limits, the Treasury Manager shall take the necessary measures to reframe as quickly as possible. (e1) Currency risk The purpose of Company’s management of foreign exchange exposure is to mitigate the effects arising from variation in foreign exchange rates, which may present high- volatility periods. The currency (or foreign exchange) risk arises from positions that are sensitive to oscillations in foreign exchange rates. These positions may be originated by financial instruments that are denominated in a currency other than the functional currency in which the balance sheet is measured or through positions in derivative instruments (for negotiation or hedge) and investments in subsidiaries abroad. The Group hold interest in XP Holding International, XP Advisors Inc, and XP Holding UK Ltd, whose equity as of December 31, 2021 was US$52,905 thousand (US$46,534 thousand as of December 31, 2020), US$2,658 thousand (US$801 thousand as of December 31, 2020) and GBP 1,918 thousand (GBP 2,268 thousand as of December 31, 2020) respectively. The risk of the XP Holding International and XP Advisors Inc, is hedged with the objective of minimizing the volatility of the functional currency (BRL) against the US$ arising from foreign investment abroad (see Note 9). The foreign currency exposure risk of XP Holding UK Ltd, is not hedged. (e2) Interest rate risk It arises from the possibility that the Group incurs in gains or losses arising from fluctuations in interest rates on its financial assets and liabilities. Below are presented the risk rates that The Group are exposed: • Selic/DI • IGPM • IPCA • PRE • Foreign exchange coupon (e3) Price risk Price risk is the risk arising from the change in the price of the investment fund portfolio and of shares listed on the stock exchange, held in the portfolio of the Group, which may affect its profit or loss. The price risk is controlled by the management of the Group, based on the diversification of its portfolio and/or through the use of derivatives contracts, such as options or futures. (e4) Sensitivity analysis According to the market information, the Group performed the sensitivity analysis by market risk factors considered relevant. The largest losses, by risk factor, in each of the scenarios were presented with an impact on the profit or loss, providing a view of the exposure by risk factor of the Group in exceptional scenarios. The following sensitivity analyzes do not consider the functioning dynamics of risk and treasury areas, since once these losses are detected, risk mitigation measures are quickly triggered, minimizing the possibility of significant losses. 2021 Trading portfolio Exposures Scenarios Risk factors Risk of variation in: I II III Pre-fixed Pre-fixed interest rate in Reais (285) (110,555) (204,607) Exchange coupons Foreign currencies coupon rate (35) (5,578) (11,325) Foreign currencies Exchange rates (364) 177,203 384,340 Price indexes Inflation coupon rates (248) (53,407) (103,602) Shares Shares prices (1,483) (131,753) 92,024 Seed Money (i) Seed Money (6,203) (155,068) (310,136) (8,618) (279,158) (153,306) 2020 Trading portfolio Exposures Scenarios Risk factors Risk of variation in: I II III Pre-fixed Pre-fixed interest rate in Reais (191) (9,056) (33,402) Exchange coupons Foreign currencies coupon rate (379) (5,508) (11,184) Foreign currencies Exchange rates (1,997) (169,318) (373,807) Price indexes Inflation coupon rates (311) (14,384) (28,434) Shares Shares prices (4,957) (107,704) (167,737) (7,835) (305,970) (614,564) (i) Related to seed money strategy, which includes several risk factors that are disclosed in aggregate. Scenario I: Increase of 1 basis point in the rates in the fixed interest rate yield, exchange coupons, inflation and 1 percentage point in the prices of shares and currencies; Scenario II: Project a variation of 25 percent in the rates of the fixed interest yield, exchange coupons, inflation, both rise and fall, being considered the largest losses resulting by risk factor; and Scenario III: Project a variation of 50 percent in the rates of the pre-fixed interest yield, exchange coupons, inflation and interest rates, both rise and fall, being considered the largest losses resulting from the risk factor. (f) Operating risk Operational risk is characterized by the possibility of losses resulting from external events or failure, deficiency or inadequacy of internal processes, people and systems, including legal risk. Operational risk events include the following categories: internal fraud; external fraud; labor demands and poor workplace safety; inappropriate practices relating to customers, products and services; damage to physical assets owned or used by XP; situations that cause the interruption of XP's activities; and failures in information technology systems, processes or infrastructure. The Group's main objective is to ensure the identification, classification and monitoring of situations that may generate financial losses, given the companies' reputation, as well as any regulatory assessment due to the occurrence of an operational risk event, XP adopts the model of 3 lines of defense, in which the main responsibility for the development and implementation of controls to deal with operational risks is attributed to the Management within each business unit, seeking to manage mainly: (i) Requirements of segregation of functions, including independent authorization for transactions; (ii) Requirements of reconciliation and monitoring of transactions; (iii) Compliance with legal and regulatory requirements; (iv) Documentation of controls and procedures; (v) Requirements of periodic assessment of the operating risks faced and the adequacy of the controls and procedures for dealing with the identified risks; (vi) Development of contingency plans; (vii) Professional training and development; and (viii) Ethical and business standards; In addition, the Group's financial institutions, in compliance with the provisions of Article 4, paragraph 2, of Resolution No, 3,380 / 06 of the National Monetary Council (“CMN”) of June 27, 2006, have a process that covers institutional policies, procedures, contingency and business continuity plans and systems for the occurrence of external events, in addition to formalizing the single structure required by the regulatory agency.

Capital management

Capital management	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Capital management	Capital Management The Group’s objectives when managing capital are to safeguard its ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders and maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The Group also monitors capital based on the net debt and the gearing ratio. Net debt is calculated as total debt (including borrowings, lease liabilities, Structured financing and debentures as shown in the consolidated balance sheet) less cash and cash equivalent (including cash, Securities purchased under agreements to resell and certificate deposits as shown in the consolidated statement of cash flows). The gearing ratio corresponds to the net debt expressed as a percentage of total capital. The net debt and corresponding gearing ratios as of December 2021 and 2020 were as follows: 2021 2020 Group debt (Note 37) (i) 7,073,021 827,785 Structured financing (Note 20 (b)) 2,415,400 874,771 Total debt 9,488,421 1,702,556 Cash (2,485,641) (1,954,788) Securities purchased under agreements to resell (Note 6 (a)) (1,071,328) (593,673) Certificate deposits (Securities) (Note 7 (a)) (194,892) (111,927) Net debt 5,736,560 (957,832) Total equity 14,416,836 10,894,609 Total capital 20,153,396 9,936,777 Gearing ratio % 28.46% (9.64)% (i) Includes Debentures and Bonds designated as fair value through profit or loss. See Note 7(e) and 17, respectively. (i) Minimum capital requirements Although capital is managed considering the consolidated position, certain subsidiaries are subject to minimum capital requirement from local regulators. The subsidiary XP CCTVM, leader of the Prudential Conglomerate (which includes Banco XP), under BACEN regulation regime, is required to maintain a minimum capital and follow aspects from the Basel Accord. The subsidiary XP Vida e Previdência operates in Private Pension Business and is oversight by the SUSEP, being required to present Adjusted Shareholders' Equity (PLA) equal to or greater than the Minimum Required Capital (“CMR”), CMR is equivalent to the highest value between base capital and venture capital Liquidity (“CR”). On December 31, 2021 the subsidiaries XP CCTVM and XP Vida e Previdência were in compliance with all capital requirements. There is no requirement for compliance with a minimum capital for the other Group companies. (ii) Financial covenants In relation to the long-term debt contracts, including multilateral instruments, recorded within “Borrowing and lease liabilities” and “Debentures” (Notes 19 and 20), the Group is required to comply with certain performance conditions, such as profitability and efficiency indexes. As of December 31, 2021, the amount of debt contracts under financial covenants is R$446,005 (December 31, 2020 – R$619,337). The Group has complied with these covenants throughout the reporting period. Eventual failure of the Group to comply with such covenants may be considered as breach of contract and, as a result, considered for early settlement of related obligations.

Cash flow information

Cash flow information	12 Months Ended
	Dec. 31, 2021
Disclosure of reconciliation of liabilities arising from financing activities [abstract]
Cash flow information	Cash flow information (i) Debt reconciliation Debt securities (i) Borrowings Lease liabilities Debentures Bonds Total Total debt as of January 1, 2019 469,609 148,494 406,538 — 1,024,641 Acquisitions / Issuance — 124,196 400,000 — 524,196 Payments (85,353) (37,979) (11,815) — (135,147) Net foreign exchange differences — 3,085 — — 3,085 Interest accrued 26,250 17,610 40,507 — 84,367 Interest paid (28,428) — — — (28,428) Total debt as of December 31, 2019 382,078 255,406 835,230 — 1,472,714 Total debt as of January 1, 2020 382,078 255,406 835,230 — 1,472,714 Acquisitions / Issuance — 55,820 — — 55,820 Write-off — (78,321) — — (78,321) Payments (95,395) (57,473) (400,000) — (552,868) Repurchase — — (64,717) — (64,717) Revaluation — (10,050) — — (10,050) Net foreign exchange differences — 23,610 — — 23,610 Interest accrued 11,892 19,456 21,473 — 52,821 Interest paid (14,488) — (56,736) — (71,224) Total debt as of December 31, 2020 284,087 208,448 335,250 — 827,785 Total debt as of January 1, 2021 284,087 208,448 335,250 — 827,785 Acquisitions / Issuance 1,570,639 116,248 500,018 3,691,262 5,878,167 Payments (21,022) (55,349) (177,826) — (254,197) Revaluation — 24,234 — — 24,234 Net foreign exchange differences 73,426 7,486 — 431,250 512,162 Interest accrued 21,689 17,488 60,919 74,798 174,894 Interest paid (37) — (12,386) (69,004) (81,427) Total debt as of December 31, 2021 1,928,782 318,555 705,975 4,128,306 7,081,618 (i) Debt securities includes Debentures measured at FVPL presented in Note 7(e) and does not include fair value adjustments of (i) Debentures - R$18,077 and (ii) Bonds - R$9,480 (December 31, 2020: nil). (ii) Non-cash investing and financing activities Non-cash investing and financing activities disclosed in other notes are: (i) related to business acquisitions through accounts payables and contingent consideration – see note 5(ii) – R$6,381, and (ii) related to Acquisition of investment in associates through accounts payables – see note 15 – R$97,009 and through private issuance of shares R$112,642.

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2021
Disclosure of events after reporting period [Abstract]
Subsequent events	Subsequent events Acquisitions (i) Banco Modal S.A On January 6, 2022, the Group entered into a binding agreement to acquire up to 100% of the total share of Banco Modal which will be paid with up to 19.5 million newly issued XP Inc. Class A shares or Brazilian Depository Receipts (BDR), implying a premium of 35% over Banco Modal’s last thirty days average price. The companies share the common goal of exceeding clients’ expectations and democratizing access to high quality and low-cost financial products and services. The acquisition is expected to deliver solid and sustainable accretion to the shareholders of both companies. The acquisition is pending approval of the Brazilian Central Bank (BACEN) and Administrative Council for Economic Defense (CADE). (ii) Minority stake acquisitions a) Suno Controle S.A. On January 3, 2022, the Group agreed to acquire a stake of 40% of the total capital of Suno Controle S.A. (“Suno”). The Company produces free financial content including analyses, news, books, courses, among others, and also distributes paid content through a digital ecosystem, offering personal financial data consolidation, investment recommendations, and advisory. The transaction allows XP and Suno to offer their customers a differentiated financial content experience with the guidance of one of the most influential digital authorities regarding finance in Brazil, and accelerate the growth of Suno Asset. b) Estratégia & Timing On January 4, 2022, the Group acquired a minority stake of 45% of the total capital of Estratégia & Timing Análises e Educação Financeira S.A. (“Estratégia & Timing”). The Company's main activity is advisory, consulting, guidance and educational operational assistance in the financial area for business and investment management. c) Etrnity On January 19, 2022, the Group acquired a stake of 20% of the total capital of Etrnity Holding S.A. (“Etrnity”). the Company is a holding company used as an exclusive vehicle to participate, directly or indirectly, in companies that act or will act in the financial and capital markets. The transaction allows XP to intensify its services in the financial market. d) AZ Quest On January 19, 2022, the Group acquired a stake of 5% of the total capital of AZ Quest S.A. (“AZ Quest”). The Company is one of the largest and most traditional independent asset management companies in Brazil, it has a diversified product platform that includes equity, macro, private credit and arbitrage strategies. The acquisition is part of XP's strategy to develop the most complete ecosystem of managers and distributors in Brazil. (iii) Ukraine conflicts In February 2022 the invasion of Ukraine by Russia generated international sanctions taken by the United States and North Atlantic Treaty Organization (“NATO”) that have a impact on regional and global economies. Such events could have an adverse effect on Company’s business and financial performance, through increased worldwide inflation, increased costs of compliance, higher volatility in foreign currency exchange rates and increases in expected credit losses from our clients that sell goods to Russia counterparties. The impact is compounded by the decision of some global companies to limit or cease operations in Russia. We do not expect a material impact to our consolidated results if the situation escalates.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2021
Summary of Significant Accounting Policies [Abstract]
Basis of preparation	Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements have been prepared on a historical cost basis, except for financial instruments that have been measured at fair value. The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group's accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 4. The consolidated financial statements are presented in Brazilian reais (“R$”),our functional currency, and all amounts disclosed in the financial statements and notes have been rounded off to the nearest thousand currency units unless otherwise stated. The balance sheet is presented in order of liquidity of assets and liabilities. The timing of their realization or settlement is dependent not just on their liquidity, but also on management’s judgements on expected movements in market prices and other relevant aspects.
Segment reporting	Segment reporting In reviewing the operational performance of the Group and allocating resources, the chief operating decision maker of the Group (“CODM”), who is the Group’s Chief Executive Officer (“CEO”) and the Board of Directors (“BoD”), represented by statutory directors holders of ordinary shares of the immediate parent of the Company, reviews selected items of the statement of income and of comprehensive income. The CODM considers the whole Group as a single operating and reportable segment, monitoring operations, making decisions on fund allocation and evaluating performance based on a single operating segment. The CODM reviews relevant financial data on a combined basis for all subsidiaries. Disaggregated information is only reviewed at the revenue level (Note 28), with no corresponding detail at any margin or profitability levels. The Group’s revenue, results and assets for this one reportable segment can be determined by reference to the consolidated statement of income and of comprehensive income and consolidated balance sheet. See Note 28 (c) for a breakdown of revenues and income and selected assets from external customers by country of domicile.
Foreign currency translation	Foreign currency translation (i) Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in Brazilian Reais (“R$”), which is the Group functional and presentation currency. The functional currency for all the Company’s subsidiaries in Brazil is also the Brazilian reais. Certain subsidiaries outside of Brazil have different functional currencies, including US Dollar ("USD"), Euro ("EUR"), Pound sterling (“GBP”) and Swiss Franc (“CHF”). (ii) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized in profit or loss. They are deferred in equity if they relate to qualifying cash flow hedges and qualifying net investment hedges or are attributable to part of the net investment in a foreign operation. Foreign exchange gains and losses that relate to borrowings are presented in the statement of income. All other foreign exchange gains and losses are presented in the statement of income on a net basis within interest expense on debt. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in profit or loss as part of the fair value gain or loss and translation differences on non-monetary assets such as equities classified as at fair value through other comprehensive income are recognized in other comprehensive income. (iii) Group companies The results and financial position of foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; • income and expenses for each statement of income and statement of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); and • all resulting exchange differences are recognized in other comprehensive income. On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognized in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit or loss, as part of the gain or loss on sale.
Business combinations	Business combinations The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the: • fair values of the assets transferred; • liabilities incurred to the former owners of the acquired business; • equity interests issued by the Group; • fair value of any asset or liability resulting from a contingent consideration arrangement; and • fair value of any pre-existing equity interest in the subsidiary. Identifiable assets acquired, and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expensed as incurred. The excess of the consideration transferred, amount of any non-controlling interest in the acquired entity, and acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognized directly in profit or loss as a bargain purchase. Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Contingent consideration, when applicable, is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquirer is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss.
Financial instruments	Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. 1) Financial assets Initial recognition and measurement On initial recognition, financial assets are classified as instruments measured at amortized cost, fair value through other comprehensive income (“FVOCI”) and fair value through profit and loss (“FVPL”). The classification of financial assets at initial recognition is based on either (i) the Group’s business model for managing the financial assets and (ii) the instruments’ contractual cash flows characteristics. For a financial asset to be classified and measured at amortized cost or FVOCI, it needs to give rise to cash flows that are 'Solely Payments of Principal and Interest' (the "SPPI" criterion) on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. The Group's business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model considers whether the Group’s objective is to receive cash flows from holding the financial assets, from selling the assets or a combination of both. Purchases or sales of financial assets that require delivery of assets within a time frame set by regulation or market practice (regular way trades) are recognized on the trade date, i.e., the date that the Group commits to purchase or sell the asset. Classification and subsequent measurement (i) Financial assets at FVPL Financial assets at FVPL include Securities, financial assets designated upon initial recognition at FVPL, or financial assets mandatorily required to be measured at fair value. This category includes securities and Derivative financial instruments, including equity instruments which the Group had not irrevocably elected to classify at FVOCI. Financial assets are classified as fair value through profit and loss if they either fail the contractual cash flow test or in the Group’s business model are acquired for the purpose of selling or repurchasing in the near term. Financial assets may be designated at FVPL on initial recognition if doing so eliminates, or significantly reduces, an accounting mismatch. Derivative financial instruments, including separated embedded derivatives, are also classified as Securities unless they are designated as effective hedging instruments. Financial assets with cash flows that do not meet the SPPI criteria are classified and measured at FVPL, irrespective of the business model. Financial assets at FVPL are carried in the statement of financial position at fair value with net changes in fair value recognized in profit or loss. The net gain or loss recognized in profit or loss includes any dividend or interest earned on the financial asset. Financial assets measured at FVPL consist of Securities owned and sold short. A derivative embedded in a hybrid contract, with a financial liability or non-financial host, is separated from the host and accounted for as a separate derivative if: (i) the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; (ii) and the hybrid contract is not measured at FVPL. Embedded derivatives are measured at fair value with changes in fair value recognized in profit or loss. Reassessment only occurs if there is either a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the FVPL category. A derivative embedded within a hybrid contract containing a financial asset host is not accounted for separately. The financial asset host together with the embedded derivative is required to be classified in its entirety as a financial asset at fair value through profit or loss. Investments held in trust account The Group has a certain class of securities owned by one of our subsidiaries, which qualify as financial instruments, primarily due to their short-term nature. These securities are classified as FVPL. The Group’s investments held in the trust account are comprised of money market funds and are recognized at fair value with the changes in fair value recognized in the consolidated statements of income. The estimated fair value of the investments held in the trust account is determined using available market information. (i) Financial assets at FVOCI The Group measures financial assets at FVOCI if both of the following conditions are met: • The financial asset is held within a business model with the objective of both holding to collect contractual cash flows and to sell. • The contractual terms of the financial asset give rise on specified dates to cash flows that meet the SPPI criteria. For financial assets at FVOCI, interest income, foreign exchange revaluation and impairment losses or reversals are recognized in profit or loss. The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to profit or loss. The Group's financial assets at FVOCI includes certain debt instruments. Upon initial recognition, the Group can elect to classify irrevocably equity investments at FVOCI when they meet the definition of equity under IAS 32 - "Financial Instruments: Presentation" and are not financial assets at FVPL. The classification is determined on an instrument-by-instrument basis. Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as income in the profit or loss when the right of payment has been established, except when the Group benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at FVOCI are not subject to impairment assessment. The Group has no equity instruments that have been irrevocably classified under this category. (ii) Financial assets at amortized cost A financial asset is measured at amortized cost if both of the following conditions are met: • The financial asset is held within a business model with the objective to hold the financial asset in order to collect contractual cash flows. • The contractual terms of the financial asset give rise on specified dates to cash flows that meet the SPPI criteria. Financial assets at amortized cost are subsequently measured using the Effective Interest Rate ("EIR") method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired. The Group's financial assets at amortized cost mainly includes ‘Securities’, 'Securities purchased under agreements to resell', 'Securities trading and intermediation', ‘Loan operations’, 'Accounts receivable' and 'Other financial assets. The Group reclassifies financial assets only when its business approach for managing those assets changes. Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Group's consolidated statement of financial position) when: • The contractual rights to receive cash flows from the asset have expired. • The Group has transferred its contractual rights to receive cash flows from the asset or has assumed a contractual obligation to pay the received cash flows in full without material delay to a third party under a "pass-through" arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset; or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Group has transferred its contractual rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay. Expected credit loss on financial assets The Group recognizes expected credit losses ("ECLs") for all debt instruments not held at FVPL. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. The Group classifies assets in three stages to measure the expected credit loss, in which the financial assets migrate from one stage to another in accordance with the changes in credit risk. Stage 1: overdue less than 30 days. It is understood that a financial instrument in this stage does not present a significant increase in the risk since initial recognition. The provision for this asset represents the expected loss resulting from possible noncompliance in the next 12 months. Stage 2: overdue 30 days. If a significant increase in the risk is identified from the initial recognition, and no deterioration is realized, the financial instrument falls within this stage. In this case, the amount related to the provision for expected loss reflects the estimated loss of the financial instrument remaining life (lifetime). Stage 3: overdue 90 days. The Group considers a financial asset in default when contractual payments are 90 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before considering any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. For accounts receivables, and other financial contract assets, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. For debt instruments at FVOCI, the Group applies the low credit risk simplification at every reporting date, the Group evaluates whether the debt instrument is considered to have low credit risk using all reasonable and supportable information that is available without undue cost or effort. In making that evaluation, the Group reassesses the internal credit rating of the debt instrument. In addition, the Group considers that there has been a significant increase in credit risk when contractual payments are more than 30 days past due. 2) Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at FVPL, amortized cost or as Derivative financial instruments designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of amortized cost, net of directly attributable transaction costs. The Group's financial liabilities include 'Securities’, 'Derivative financial instruments', 'Securities purchased under agreements to resell', 'Securities trading and intermediation', long-term debts such as 'Borrowings and ‘Financing Instruments payable – Debt securities', 'Accounts payables' and 'Other financial liabilities. Classification and subsequent measurement (i) Financial liabilities at FVPL Financial liabilities at FVPL include securities loaned and derivatives financial instruments designated upon initial recognition as at FVPL. Financial liabilities are classified as securities loaned if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as fair value through PL unless they are designated as effective hedging instruments. Gains or losses on liabilities at fair value through PL are recognized in profit or loss. Financial liabilities designated upon initial recognition at FVPL are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. Securities loaned, and derivative financial instruments are classified as fair value through PL and recognized at fair value. (ii) Financial liabilities designated at FVPL Classification and subsequent measurement The Group applied the fair value option as an alternative measurement for selected financial liabilities. Financial liabilities can be irrevocably designated as measured at FVPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases, or a group of financial instruments is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy. The amount of change in the fair value of the financial liabilities designated at FVPL that is attributable to changes in the credit risk of that liabilities shall be presented in other comprehensive income. See more information in Note 6. (iii) Amortized cost After initial recognition, these financial liabilities are subsequently measured at amortized cost using the Effective Interest Method (“EIR”) method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the EIR. This category generally applies to Securities sold under repurchase agreements, ‘Securities trading and intermediation’, 'Borrowings', 'Financing Instruments Payable', 'Accounts payables', ‘Lease liabilities’ and 'Other financial liabilities'. (iv) Commitments subject to possible redemption XPAC Acquisition Corp. redeemable shares The Group accounts for the common stock subject to redemption in cash held by the non-controlling interest holders of XPAC Acquisition Corp., a consolidated subsidiary, as a financial liability measured at amortized cost. The instrument is initially recognized at fair value, net of derivative warrant liabilities component and the corresponding eligible transaction costs. The warrant component issued to the non-controlling interest holders of XPAC Acquisition Corp. are separately accounted as derivatives and measured at fair value with the change in fair value recorded in the statement of income. Derecognition A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in profit or loss. 3) Fair value of financial instruments The fair value of financial instruments actively traded in organized financial markets is determined based on purchase prices quoted in the market at the close of business at the reporting date, without deducting transaction costs. The fair value of financial instruments for which there is no active market is determined by using measurement techniques. These techniques may include the use of recent market transactions (on an arm's length basis); reference to the current fair value of another similar instrument; analysis of discounted cash flows or other measurement models. See Note 34. 4) Derivative financial instruments and hedging activities Derivative financial instruments are financial contracts, the value of which is derived from the value of the underlying assets, interest rates, indexes or currency exchange rates. Derivatives are initially recognized at fair value on the date a derivative contract is entered into, and they are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument and, if so, the nature of the item being hedged. The group designates certain derivatives as either: • hedges of the fair value of recognized assets or liabilities or a firm commitment (fair value hedges), or • hedges of a net investment in a foreign operation (net investment hedges). At inception of the hedge relationship, the group documents the economic relationship between hedging instruments and hedged items, including whether changes in the cash flows of the hedging instruments are expected to offset changes in the cash flows of hedged items. The group documents its risk management objective and strategy for undertaking its hedge transactions. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to profit or loss over the remaining period until maturity, using a recalculated effective interest rate. a) Hedge ineffectiveness Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. To evaluate the effectiveness and to measure the ineffectiveness of such strategies, The Group uses the Dollar Offset Method. The Dollar Offset Method is a quantitative method that consists of comparing the change in fair value or cash flows of the hedging instrument with the change in fair value or cash flows of the hedged item attributable to the hedged risk. b) Derivative warrant liabilities The Group evaluates if the warrants issued in connection with the Initial Public Offering (the “Public Warrants”) and the Private Placement Warrants issued by XPAC Acquisition Corp. are derivatives or contain features that qualify as embedded derivatives in accordance with IFRS 9 – Financial Instruments. The Group’s derivatives instruments are recorded at Financial instruments measure at fair value through profit or loss. Accordingly, the Group recognizes the warrant as financial liabilities at fair value and remeasures the warrants at fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Group’s consolidated statements of income. The fair value has been measured based on the listed market price of such warrants.
Cash and cash equivalents	Cash and cash equivalentsCash is not subject to a significant risk of change in value and are held for the purpose of meeting short-term cash commitments and not for investments or other purposes. Transactions are considered short-term when they have maturities in three months or less from the date of acquisition. For purposes of consolidated statement of cash flows, cash equivalents refer to collateral held securities purchased under agreements to resell and bank deposit certificates measured at fair value through profit and loss that are readily convertible into a known cash amount and for which are no subject to a significant risk of change in value.
Securities purchased under agreements to resell and obligations related to securities sold under repurchase agreements	Securities purchased under agreements to resell and obligations related to securities sold under repurchase agreementsThe Group has purchased securities with resale agreement (resale agreements) and sold securities with repurchase agreement (repurchase agreement) of financial assets. Resale and repurchase agreements are accounted for under Securities purchased under agreements to resell and Securities sold under repurchase agreements, respectively. The difference between the sale and repurchase prices is treated as interest and recognized over the life of the agreements using the effective interest rate method. The financial assets accepted as collateral in our resale agreements can be used by us, if provided for in the agreements, as collateral for our repurchase agreements or can be sold.
Securities trading and intermediation (receivable and payable)	Securities trading and intermediation (receivable and payable) Refers to transactions at B3 S.A. – Brasil, Bolsa, Balcão (“B3”) on behalf of and on account of third parties. Brokerages on these transactions are classified as revenues and service provision expenses are recognized at the time of the transactions. These balances are offset, and the net amount shown in the balance sheet when, and only when, there is a legal and enforceable right to offset and the intention to liquidate them on a net basis, or to realize the assets and settle the liabilities simultaneously. Amounts due from and to customers represent receivables for securities sold and payables for securities purchased that have been contracted for but not yet settled or delivered on the balance sheet date respectively. The due from customers balance is held for collection. These amounts are subdivided into the following items: • Cash and settlement records - Represented by the registration of transactions carried out on the stock exchanges on its own behalf and for customers; and • Debtors/Creditors pending settlement account - debtor or creditor balances of customers, in connection with transactions with fixed income securities, shares, commodities and financial assets, pending settlement as of the statement of reporting date. Sales transactions are offset and, in the event, the final amount is a credit, it will be recorded in liabilities, on the other hand if this amount is debt, it will be recorded in assets, provided that the offset balances refer to the same counterparty. These amounts are recognized initially at fair value and subsequently measured at amortized cost. At each reporting date, the Group shall measure the loss allowance on amounts due from customers at an amount equal to the lifetime expected credit losses if the credit risk has increased significantly since initial recognition. If, at the reporting date, the credit risk has not increased significantly since initial recognition, the Group shall measure the loss allowance at an amount equal to 12-month expected credit losses. Significant financial difficulties of the customer, probability that the customer will enter bankruptcy or financial reorganization, and default in payments are all considered indicators that a loss allowance may be required. If the credit risk increases to the point that it is considered to be credit impaired, interest income will be calculated based on the gross carrying amount adjusted for the loss allowance. A significant increase in credit risk is defined by management as any contractual payment which is more than 30 days past due. Any contractual payment which is more than 90 days past due is considered credit impaired. The estimated credit losses for brokerage clients and related activity were immaterial for all periods presented.
Loan operations	Loan operations Loan operations consist in arrangements under which clients can borrow stipulated amounts under defined terms and conditions. They are subsequently measured at amortized cost using the effective interest method, less expected credit loss. See note 10 for further information about the Group’s accounting for Loan Operations and note 3(vi) for a description of the Group’s Expected Losses on Financial Assets. Interest income from these financial assets is included in Net income from financial instruments at amortized cost using the effective interest rate method. Any gain or loss arising on derecognition of the loan operations is recognized directly in profit or loss and presented in Note 14. Expected credit losses are presented as a separate line item in profit or loss.
Prepaid expenses	Prepaid expensesPrepaid expenses are recognized as an asset in the balance sheet. These expenditures include incentives to IFAs, prepaid software licenses, certain professional services and insurance premiums. Prepaid expenses are amortized in profit or loss in the period in which the benefits of such incentives are realized.
Leases	Leases Right-of-use assets The Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Group is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. Right-of-use assets are subject to impairment. Lease liabilities At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating a lease, if the lease term reflects the Group exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Short-term leases and leases of low-value assets The Group applies the short-term lease recognition exemption to its short-term leases of properties (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered of low value. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease term. Significant judgement in determining the lease term of contracts with renewal options The Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised. The Group has the option, under some of its leases to lease the assets for additional terms. The Group applies judgement in evaluating whether it is reasonably certain to exercise the option to renew. That is, it considers all relevant factors that create an economic incentive for it to exercise the renewal. After the commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise (or not to exercise) the option to renew (e.g., a change in business strategy).
Property and equipment	Property and equipment All property and equipment are stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditures that are directly attributable to the acquisition of the items and, if applicable, net of tax credits. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item is material and can be measured reliably. All other repairs and maintenance expenditures are charged to profit or loss during the period in which they are incurred. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Annual Rate (%) Data Processing Systems 20 % Furniture and equipment 10 % Security systems 10 % Facilities 10 % Vehicle 10 % Assets’ residual values, useful lives and methods of depreciation are reviewed at each reporting date and adjusted prospectively, if appropriate. An asset’s carrying amount is written down immediately to its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use, if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals or derecognition are determined by comparing the disposal proceeds (if any) with the carrying amount and are recognized in profit or loss.
Intangible assets	Intangible assets i) Goodwill Goodwill arises on the acquisition of subsidiaries and represents the excess of (i) the consideration transferred; (ii) the amount of any non-controlling interest in the acquiree; and (iii) the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired. If the total of the consideration transferred, non-controlling interest recognized and previously held interest measured at fair value is less than the fair value of the net assets of the subsidiary acquired, in the case of a bargain purchase, the difference is recognized directly in profit or loss. Goodwill impairment reviews are undertaken annually or more frequently if events or changes in circumstances indicate a potential impairment. ii) Software and development costs Certain direct development costs associated with internally developed software and software enhancements of the Group’s technology platform is capitalized. Capitalized costs, which occur post determination by management of technical feasibility, include external services and internal payroll costs. These costs are recorded as intangible assets when development is complete, and the asset is ready for use, and are amortized on a straight-line basis, generally over a period of five years. Research and pre-feasibility development costs, as well as maintenance and training costs, are expensed as incurred. In certain circumstances, management may determine that previously developed software and its related expense no longer meets management’s definition of feasible, which could then result in the impairment of such assets. iii) Other intangible assets Separately acquired intangible assets are measured at cost on initial recognition. The cost of intangible assets acquired in a business combination corresponds to their fair value at the acquisition date. After initial recognition, intangible assets are stated at cost, less any accumulated amortization and accumulated impairment losses. Internally generated intangible assets other than (i) above, are not capitalized and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred. The useful life of intangible assets is assessed as finite or indefinite. As of December 31, 2021 and 2020, the Group does not hold indefinite life intangible assets, except for goodwill. Intangible assets with finite useful lives are amortized over their estimated useful lives and tested for impairment whenever there is an indication that their carrying amount may be not be recovered. The period and method of amortization for intangible assets with finite lives are reviewed at least at the end of each fiscal year or when there are indicators of impairment. Changes in estimated useful lives or expected consumption of future economic benefits embodied in the assets are considered to modify the amortization period or method, as appropriate, and treated as changes in accounting estimates. The amortization of intangible assets with definite lives is recognized in profit or loss in the expense category consistent with the use of intangible assets. The useful lives of the intangible assets are shown below: Estimate useful life (years) Software 3-5 Internally developed intangible 3-7 Customer list 2-8 Trademarks 10-20 Gains and losses resulting from the disposal or derecognition of intangible assets are measured as the difference between the net disposal proceeds (if any) and their carrying amount and are recognized in profit or loss.
Impairment of non-financial assets	Impairment of non-financial assets Assets that have an indefinite useful life, for example goodwill, are not subject to amortization and are tested annually for impairment. Goodwill impairment reviews are undertaken annually or more frequently if events or changes in circumstances indicate a potential impairment. Assets that are subject to depreciation or amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized when the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and its value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (Cash-generating units (CGU's)). For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the CGUs (or groups of CGUs) that is expected to benefit from the synergies of the combination, which are identified at the operating segment level. Non-financial assets other than goodwill that were adjusted due to impairment are subsequently reviewed for possible reversal of the impairment at the balance sheet date. The impairment of goodwill recognized in the profit or loss is not reversed.
Taxes	Taxes i) Current income and social contribution taxes Each of Group’s entities pay Federal Income Tax (IRPJ) and Social Contribution on Net Income (CSLL) under one of two different methods: • Actual Profit Method (“APM”), where the taxpayer calculates both taxes based on its actual taxable income, after computing all income, gains and tax-deductible expenses, including net operating losses of prior years. Taxes calculated under the APM method are due quarterly or annually depending on entity’s adoption through the first collection document of each calendar year. APM annual method requires taxpayers to make monthly prepayments of IRPJ and CSLL during the calendar-year. • Presumed Profit Method (“PPM”), where the taxpayer calculates IRPJ and CSLL applying a presumed profit margin over the operating revenues. It is important to emphasize that the profit margin is defined by the Brazilian Revenue Service (“RFB”) according to the type of services rendered and/or goods sold. Under the PPM method, both taxes are due on a quarterly basis and no prepayment is required during the quarters. This method can be adopted only by entities with gross revenue up to an annually revised threshold determined by tax authorities. The tax rates applicable to APM or PPM are also defined according to entities’ main activity: • Federal Income Tax (IRPJ) – tax rate of 15% calculated on taxable income and a surcharge of 10% calculated on the taxable income amount that exceeds R$20 per month (or R$240 annually). • Social Contribution on Net Income (CSLL) – tax rate of 9% calculated on taxable income. However, financial institutions (i.e., XP CCTVM) and insurance companies (i.e., XP Vida e Previdência) are subject to a higher CSLL rate of 15%. As of March, 2020, Brazilian banks (i.e. Banco XP) are subject to a CSLL rate of 20%. As of July 2021, the rate of CSLL was increased in 5% for all Brazilian financial entities until December, 2021. Therefore, Brazilian banks are subject to a CSLL rate of 25% and all other financial entities, including insurance companies, are subject to a rate of 20% by means of federal Law 13.148/2021. ii) Deferred income and social contribution taxes Deferred income tax and social contribution are recognized, using the liability method, on temporary differences between the tax bases of assets and liabilities and their carrying amounts in the financial statements. However, deferred taxes are not accounted for if they arise from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred tax assets are recognized only to the extent it is probable that future taxable profit will be available against which the temporary differences and/or tax losses can be utilized. In accordance with the Brazilian tax legislation, loss carryforwards can be used to offset up to 30% of taxable profit for the year and do not expire. Deferred tax is provided on temporary differences arising on investments in subsidiaries, except for a deferred tax liability where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets and liabilities are presented net in the statement of financial position when there is a legally enforceable right and the intention to offset them upon the calculation of current taxes, generally when related to the same legal entity and the same jurisdiction. Accordingly, deferred tax assets and liabilities in different entities or in different countries are generally presented separately, and not on a net basis. iii) Sales and other taxes Revenues, expenses and assets are recognized net of sales tax, except: • When the sales taxes incurred on the purchase of goods or services are not recoverable from tax authorities, in which case the sales tax is recognized as part of the cost of acquiring the asset or expense item, as applicable; • When the amounts receivable or payable are stated with the amount of sales taxes included. The net amount of sales taxes, recoverable or payable to the tax authority, is included as part of receivables or payables in the balance sheet, and net of corresponding revenue or cost / expense, in profit or loss. Sales revenues in Brazil are subject to taxes and contributions, at the following statutory rates: • PIS and COFINS are contributions levied by the Brazilian Federal government on gross revenues. These amounts are invoiced to and collected from the Group’s customers and recognized as deductions to gross revenue (Note 28) against tax liabilities, as we are acting as tax withholding agents on behalf of the tax authorities. PIS and COFINS paid on certain purchases may be claimed back as tax credits to offset PIS and COFINS payable. These amounts are recognized as Recoverable taxes (Note 12) and are offset monthly against Taxes payable and presented net, as the amounts are due to the same tax authority. PIS and COFINS are contributions calculated on two different regimes according to Brazilian tax legislation: cumulative method and non-cumulative method. The non-cumulative method is mandatory to companies that calculate income tax under the Actual Profit Method (APM). The applicable rates of PIS and COFINS are 1.65% e 7.60%, respectively. Otherwise, the cumulative method should be adopted by entities under the Presumed Profit Method (PPM) and is also mandatory to Financial and Insurance Companies. The rate applicable to companies under PPM are PIS 0.65% and COFINS 3.00%. Financial entities (i.e., XP CCTVM) and Insurance companies (i.e., XP Vida e Previdência) have a different percentage of COFINS with the surcharge of 1.00%, totaling 4.00%. • ISS is a tax levied by municipalities on revenues from the provision of services. ISS tax is added to amounts invoiced to the Group’s customers for the services the Group renders. These are recognized as deductions to gross revenue (Note 28) against tax liabilities, as the Group acts as agent collecting these taxes on behalf of municipal governments. The rates may vary from 2.00% to 5.00%. The ISS stated in the table is applicable to the city of São Paulo and Rio de Janeiro refers to the rate most commonly levied on the Group’s operations. • INSS is a social security charge levied on wages paid to employees.
Equity security loans	Equity security loans Represent liabilities to return cash proceeds from security lending transactions. Securities lending transactions are used primarily to earn spread income which relates mainly to equity securities received with a fixed term payable, based on the fair value of the securities plus pro rata interest over the period of the equity security loan. Equity securities borrowed are recognized as unrestricted assets on the statement of financial position and may be sold to third parties. The Equity security loans is recorded as a trading liability and measured at fair value with any gains or losses included in the income statement under net fair value gains/(losses) on financial instruments (Note 28 b).
Debt securities and Borrowings	Debt securities and Borrowings Debt securities classified as Debentures, Bonds, Promissory Notes and Borrowings are initially recognized at fair value, net of transaction costs incurred, and subsequently carried at amortized cost. Any differences between the proceeds (net of transaction costs) and the total amount payable is recognized in profit or loss over the period of the borrowings using the effective interest rate method.Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as interest expense on debt in the statement of income.
Accounts payables	Accounts payablesAccounts payables are obligations to pay for goods or services that have been acquired in the ordinary course of business. Accounts payables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest rate method.
Private pension liabilities	Private pension liabilities Private pension plans, relates to accumulation of financial resources, called PGBL (Plan Generator of Benefits), a plan that aims at accumulating funds for participant’s retirement in life, and VGBL (Redeemable Life Insurance), a financial product structured as a pension plan. In both products, the contribution received from the participant is applied to a Specially Constituted Investment Fund (“FIE”) and accrues interest based on FIE investments. The private pension products offered by the Group do not contain significant insurance risk where the Group accepts significant insurance risk from participants by agreeing to compensate them if a specified uncertain future event adversely affects them. These products also do not contain any discretionary participation features. Therefore, the contracts are accounted for under the scope of IFRS 9, Financial Instruments (“IFRS 9”).
Provisions	Provisions Provisions for legal claims (labor, civil and tax) are recognized when: (i) the Group has a present legal or constructive obligation as a result of past events; (ii) it is probable that an outflow of resources will be required to settle the obligation; and (iii) the amount can be reliably estimated. Provisions do not include future operating losses. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to the time elapsed is recognized as interest expense.
Employee benefits	Employee benefits i) Short-term obligations Liabilities in connection with short-term employee benefits are measured on a non-discounted basis and are expensed as the related service is provided. The liability is recognized for the expected amount to be paid under the plans of cash bonus or short-term profit sharing if the Group has a legal or constructive obligation of paying this amount due to past service provided by employees and the obligation may be reliably estimated. ii) Share-based plan The establishment of the shared-based plan was approved by the board of Director’s meeting on December 6, 2019. The Group launched two share-based plans, the Restricted Stock Unit “RSU” and the Performance Share Unit (“PSU”). The shared-based plans are designed to provide long-term incentives to certain employees, directors, and other eligible service providers in exchange for their services. For both plans, management commits to grant shares of XP Inc to the defined participants. The cost of share-based compensation is measured using the fair value at the grant date. The cost is expensed together with a corresponding increase in equity over the service period or on the grant date when the grant relates to past services. The total amount to be expensed is determined by reference to the fair value of the tranche shares granted at the grant date, which is also based on: • Including any market performance conditions; • Including the impact of any non-market performance vesting conditions (i.e. remaining an employee of the entity over a specified time), and; • Including the impact of any non-vesting conditions (i.e. the requirement for participants to save or hold shares for a specific period of time). The total expense is recognized over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end of each period, the entity revises its estimates of the number of shares that are expected to vest based on the non-market vesting conditions. The Company recognizes the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity. When the shares are vested, the Company transfers the correspondent number of shares to the participant. The shares received by the participants, net of any directly attributable transaction costs (including withholding taxes) are credited directly to equity. The significant judgments, estimates and assumptions regarding share-based payments and activity relating to share-based payments are discussed further in Note 32. iii) Profit-sharing and bonus plans The Group recognizes a liability and an expense for bonuses and profit-sharing based on a formula that takes into consideration the profit attributable to the owners of the Company after certain adjustments, and distributed based on individual and collective performance, including qualitative and quantitative indicators. Employee profit-sharing terms are broadly established by means of annual collective bargaining with workers’ unions. The Group recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation. iv) Founder Shares The issuance of founder shares and warrants by the SPAC falls within the scope of IFRS 2 as the founders (including management team) are being awarded these shares at a nominal price in exchange for their services, operating as management of the SPAC. As a result, the share-based payment would be measured at the grant date. The founder shares do not carry a specified service period but would be forfeited or otherwise expire worthless if a business combination is not consummated. Therefore, the founders only derive the value from the founder shares when they are converted into Class A shares upon a successful business combination. As of 31 December 2021, no amounts are accrued as such no business combination has occurred.
Share capital	Share capitalCommon shares are classified in equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Treasury shares	Treasury shares Own equity instruments that are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Group’s own equity instruments. The difference between the sale price and the average price of the treasury shares is recorded as a reduction or increase in Capital Reserves. The cancellation of treasury shares is recorded as a reduction in Treasury shares against Capital Reserves, at the average price of treasury shares at the cancellation date.
Earnings per share	Earnings per share Basic earnings per share is calculated by dividing the profit attributable to owners of the Company, excluding any costs of servicing equity other than ordinary and preferred shares by the weighted average number of ordinary and preferred shares outstanding during the year, adjusted for bonus elements in ordinary and preferred shares issued during the year and excluding treasury shares (Note 33). Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after-income tax effect of interest and other financing costs associated with dilutive potential common and preferred shares, and the weighted average number of additional common and preferred shares that would have been outstanding assuming the conversion of all dilutive potential common and preferred shares (Note 33).
Revenue and income	Revenue and income 1) Revenue from contracts with customers Revenue is recognized when the Group has transferred control of the services to the customers, in an amount that reflects the consideration the Group expects to collect in exchange for those services. The Group applies the following five steps: i) identification of the contract with a customer; ii) identification of the performance obligations in the contract; iii) determination of the transaction price; iv) allocation of the transaction price to the performance obligations in the contract; and v) recognition of revenue when or as the entity satisfies a performance obligation. Revenue is recognized net of taxes collected from customers, which are subsequently remitted to governmental authorities. The Group has discretion to involve and contract a third-party provider in providing services to the customer on its behalf. The Group presents the revenues and associated costs to such third-party providers on a gross basis where it is deemed to be the principal and on a net basis where it is deemed to be the agent. Generally, the Group is deemed to be the principal in these arrangements because the Group controls the promised services before they are transferred to customers, and accordingly presents the revenue gross of related costs. The Group main types of revenues contracts are: i) Brokerage commission Brokerage commission revenue consists of revenue generated through commission-based brokerage services on each transaction carried out on i.e. the stock exchanges for customers, recognized at a point in time (trade date) as the performance obligation is satisfied. ii) Securities placement Securities placement revenue refers to fees and commissions earned on the placement of a wide range of securities on behalf of issuers and other capital raising activities, such as mergers and acquisitions, including related finance advisory services. The act of placing the securities is the sole performance obligation and revenue is recognized at the point in time when the underlying transaction is complete under the engagement terms and it is probable that a significant revenue reversal will not occur. iii) Management fees Management fees relate substantially to (i) services as investments advisor from funds, investment clubs and wealth management; and (ii) distributions of quotas from investments funds managed by others. Revenue is recognized over the period of time when this performance obligation is delivered, and generally based on an agreed-upon fixed percentage of the net asset value of each fund on a monthly basis. A part of management fees are performance-based (performance fees), which are recognized for the delivery of asset management services and calculated based on appreciation of the net asset value of the funds, subject to certain thresholds, such as internal rates of returns or hurdle rates in accordance with the terms of the fund’s constitution. Performance fees, which includes variable consideration, are only recognized after an assessment of the facts and circumstances and when it is highly probable that significant reversal of the amount of cumulative revenue recognized will not occur when the uncertainty is resolved. iv) Insurance brokerage fee Refers to insurance brokerage, capitalization, pension plans and health insurance through the intermediation of the sale of insurance services. Revenues are recognized after the provision of brokerage services to insurers. Products that were sold through XP Corretora de Seguros are inspected monthly, and amounts received from commission are recognized as revenue at a point in time as the performance obligation is satisfied. v) Educational services Educational revenue relates to advising and consulting on finance, financial planning, business management and the development of courses and business training programs in the national territory through the development and management of courses. vi) Commissions fees Commissions fees are recognized when XP provides or offers services to customers, in an amount that reflects the consideration XP expects to collect in exchange for those services. A five-step model is applied to account for revenues: i) identification of the contract with a customer; ii) identification of the performance obligations in the contract; iii) determination of the transaction price; iv) allocation of the transaction price to the performance obligations in the contract; and v) revenue recognition, when performance obligations agreed upon in agreements with clients are met. Incremental costs and costs to fulfill agreements with clients are recognized as an expense as incurred. vii) Other services Other services refer to revenue related to finance advisory services, advertisements on the Group’s website and sponsorship on events held by the Group. 2) Net income from financial instruments Net income from financial instruments include realized gains and losses on the sales of investments, unrealized gains and losses resulting from our investments measured at fair value and interest earned on both cash balances and investments in connection with our trading activities. These gains and losses are outside the scope of IFRS 15 but in scope of IFRS 9 – Financial Instruments, and the related accounting policies are disclosed in Note 3.
Derivative financial instruments	The Group uses the derivatives to manage its overall exposures of foreign exchange rates, interest rates and price of shares. The fair value of derivative financial instruments, comprised of futures, forward, options, and swaps operations, is determined in accordance with the following criteria: • Swap – These operations swap cash flow based on the comparison of profitability between two indexers, Thus, the agent assumes both positions – put in one indexer and call on another. • Forward - at the market quotation value, and the installments receivable or payable are prefixed to a future date, adjusted to present value, based on market rates published at B3. • Futures – Foreign exchange rates, prices of shares and commodities are commitments to buy or sell a financial instrument at a future date, at a contracted price or yield and may be settled in cash or through delivery. Daily cash settlements of price movements are made for all instruments. • Options - option contracts give the purchaser the right to buy the instrument at a fixed price negotiated at a future date. Those who acquire the right must pay a premium to the seller. This premium is not the price of the instrument, but only an amount paid to have the option (possibility) to buy or sell the instrument at a future date for a previously agreed price.
Impairment test for goodwill	Given the interdependency of cash flows and the merger of business practices, all Group’s entities are considered a single cash generating unit (“CGU”) and, therefore, a goodwill impairment test is performed at the single operating level. Therefore, the carrying amount considered for the impairment test represents the Company’s equity. The Group tests whether goodwill has suffered any impairment on an annual basis or more frequently if there is an impairment indicator. For the years ended December 31, 2021 and 2020, the recoverable amount of the single CGU was determined based on value-in-use calculations which require the use of assumptions. The calculations use cash flow projections based on financial budgets approved by management covering a four-year period. Cash flows beyond the four-year period are extrapolated using the estimated growth rates, which are consistent with forecasts included in industry reports specific to the industry in which the Group operates. The Group performed its annual impairment test as of December 31, 2021 and 2020 which did not result in the need to recognize impairment losses on the carrying value of goodwill. Key assumptions used in value-in-use calculations and sensitivity to changes in assumptions are: Assumption Approach used to determine values Sales Average annual growth rate over the four-year forecast period; based on past performance and management’s expectations of market development. Budgeted gross margin Based on past performance and management’s expectations for the future. Other operating costs Fixed costs, which do not vary significantly with sales volumes or prices. Management forecasts these costs based on the current structure of the business, adjusting for inflationary increases but not reflecting any future restructurings or cost saving measures. The amounts disclosed above are the average operating costs for the four-year forecast period. Annual capital expenditure Expected cash costs. This is based on the historical experience of management, and the planned refurbishment expenditure. No incremental revenue or cost savings are assumed in the value-in-use model as a result of this expenditure. Long-term growth rate This is the weighted average growth rate used to extrapolate cash flows beyond the budget period. The rates are consistent with forecasts included in industry reports. Pre-tax discount rates Reflect specific risks relating to the relevant segments and the countries in which they operate. The long-term growth rate utilized in the impairment test of goodwill is 6.50%.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2021
Summary of Significant Accounting Policies [Abstract]
Disclosure Of Detailed Information About Depreciation Rates Of Property Plant And Equipment	Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Annual Rate (%) Data Processing Systems 20 % Furniture and equipment 10 % Security systems 10 % Facilities 10 % Vehicle 10 %
Disclosure Of Detailed Information About Useful Life Of Intangible Assets	The useful lives of the intangible assets are shown below: Estimate useful life (years) Software 3-5 Internally developed intangible 3-7 Customer list 2-8 Trademarks 10-20

Group structure (Tables)

Group structure (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of subsidiaries [abstract]
Summary of direct and indirect interests of company in its subsidiaries	The following are the direct and indirect interests of Company in its subsidiaries for the purposes of these consolidated financial statements: % of Group’s interest (i) Entity name Country of incorporation Principal activities 2021 2020 2019 Directly controlled XP Investimentos S.A. Brazil Holding 100.00 % 100.00 % — XPAC Sponsor LLC (v) Cayman Special Purpose Acquisition (SPAC) Sponsor 100.00 % — — XProject LTD (v) Cayman Holding 100.00 % — — Indirectly controlled XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A. Brazil Broker-dealer 100.00 % 100.00 % 100.00 % XP Vida e Previdência S.A. (iv) Brazil Private pension and insurance 100.00 % 100.00 % 100.00 % Banco XP S.A. Brazil Multipurpose bank 100.00 % 100.00 % 100.00 % XP Controle 3 Participações S.A. Brazil Financial Holding 100.00 % 100.00 % 100.00 % XPE Infomoney Educação Assessoria Empresarial e Participações Ltda. Brazil Digital Content services 100.00 % 100.00 % 99.99 % Tecfinance Informática e Projetos de Sistemas Ltda. Brazil Rendering of IT services 99.73 % 99.76 % 99.76 % XP Corretora de Seguros Ltda. Brazil Insurance Broker 99.99 % 99.99 % 99.99 % XP Gestão de Recursos Ltda. Brazil Asset management 94.90 % 94.80 % 93.70 % XP Finanças Assessoria Financeira Ltda. Brazil Investment consulting service 99.99 % 99.99 % 99.99 % Infostocks Informações e Sistemas Ltda. Brazil Mediation of information systems 99.99 % 99.99 % 99.99 % XP Advisory Gestão Recursos Ltda. Brazil Asset management 99.54 % 99.50 % 99.57 % XP Vista Asset Management Ltda. Brazil Asset management 99.50 % 99.45 % 99.42 % XP Controle 4 Participações S.A. Brazil Insurance holding 100.00 % 100.00 % 100.00 % Leadr Serviços Online Ltda. (vi) Brazil Social media — 99.99 % 99.99 % Spiti Análise Ltda. (ii) Brazil Investment Advisor — % 100.00 % 100.00 % % of Group’s interest (i) Entity name Country of incorporation Principal activities 2021 2020 2019 Chamaleon Bravery Unipessoal LDA (vi) Portugal Investment Advisor — 100.00 % 100.00 % XP Investments UK LLP UK Inter-dealer broker and Organized Trading Facility (OTF) 100.00 % 100.00 % 100.00 % Sartus Capital LTD UK Investment advisor 100.00 % 100.00 % 100.00 % XP Private (Europe) S.A. Switzerland Investment advisor — 100.00 % 100.00 % XP Holding UK Ltd UK International financial holding 100.00 % 100.00 % 100.00 % XP Investments US, LLC USA Broker-dealer 100.00 % 100.00 % 100.00 % Xperience Market Services LLC (vi) USA Non-operational — 100.00 % 100.00 % XP Holding International LLC USA International financial holding 100.00 % 100.00 % 100.00 % XP Advisory US USA Investment advisor 100.00 % 100.00 % 100.00 % XP PE Gestão de Recursos Ltda. Brazil Asset management 98.70 % 98.70 % — XP LT Gestão de Recursos Ltda. Brazil Asset management 92.00 % 92.00 % — Carteira Online Controle de Investimentos Ltda. - ME (iii) Brazil Investment consolidation platform 99.99 % 99.99 % — Antecipa S.A. (iii) Brazil Receivables Financing Market 100.00 % 100.00 % — XP Allocation Asset Management Ltda. Brazil Asset management 99.99 % 99.99 % — Track Índices Consultoria Ltda. Brazil Index Provider 100.00 % 100.00 % — XP Eventos Ltda. Brazil Media and Events 99.90 % 99.00 % — DM10 Corretora de Seguros Ltda. (iii) Brazil Insurance Broker 100.00 % 100.00 % — XP Comercializadora de Energia Ltda. (v) Brazil Energy trading 100.00 % — — Instituto XP (v) Brazil Non-profit entity 100.00 % — — XPAC Acquisition Corp. (vii) (v) US Special Purpose Acquisition (SPAC) 20.00 % — — XP Distribuidora de Títulos e Valores Mobiliários (v) Brazil Securities dealer 100.00 % — — Instituto de Gestão e Tecnologia da Informação Ltda. (v) (iii) Brazil Educational content services 100.00 % — — Xchange Intermediação S.A. (v) Brazil Digital Assets 100.00 % — — Consolidated investments funds Falx Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Gladius Fundo de Investimento Multimercado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Scorpio Debentures Incentivadas Fundo de Investimento Multimercado Crédito Privado Brazil Investment fund 100.00 % 100.00 % 100.00 % Galea Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior (vi) Brazil Investment fund — 100.00 % 100.00 % Javelin Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Spatha Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior (vi) Brazil Investment fund — 100.00 % 100.00 % Frade Fundo de Investimento em Cotas de Fundos de Investimento em Direitos Creditórios NP Brazil Investment fund 100.00 % 100.00 % 100.00 % Frade III Fundo de Investimento em Cotas de Fundo de Investimento Multimercado Crédito Privado Brazil Investment fund 100.00 % 100.00 % — Balista Debentures Incentivadas Fundo de Investimento Multimercado Crédito Privado (vi) Brazil Investment fund — 100.00 % — Coliseu Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % — NIMROD Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % — XP High Yield Fund SP Cayman Investment fund 100.00 % 100.00 % — XP International Fund SPC Cayman Investment fund 100.00 % 100.00 % — XP Managers Fundo de Investimento em Participações Multiestratégia Brazil Investment fund 100.00 % 100.00 % — XP Alesia Fund SP CL Shares - Brazil Internacional Fund SPC. (v) Cayman Investment fund 100.00 % — — Newave Fundo de Investimento em Participações Multiestratégia. (v) Brazil Investment fund 100.00 % — — % of Group’s interest (i) Entity name Country of incorporation Principal activities 2021 2020 2019 Endor Fundo de Investimento em Participações Multiestratégia Investimento no Exterior (v) Brazil Investment fund 100.00 % — — (i) The percentage of participation represents the Group’s interest in total capital and voting capital of its subsidiaries. (ii) Subsidiaries legally merged into their respective immediate parent, with no impact on the consolidated financial statements. (iii) New subsidiaries acquired in 2020 and 2021. See further details in Note 5 (ii) below. (iv) Subsidiaries incorporated in 2018 for operating in the private pension and life insurance business, which is regulated by the Superintendency of Private Insurance (SUSEP) in Brazil. (v) New subsidiaries and investment funds incorporated in the year. (vi) Subsidiaries and investment funds closed or consolidated by other funds during the year. (vii) New subsidiaries which the Group holds operational control. The operational control refers to relevant rights the Company have over the subsidiary, that includes, among other topics, the right to nominate the directors and propose the target entity for merger.
Summary of the net assets acquired, the goodwill	The fair value of the identifiable assets acquired and liabilities assumed as of each acquisition date were: For the purchase price allocation, the following intangible assets were identified. The valuation techniques used for measuring the fair value of separately identified intangible assets acquired were as follows: Fliper Antecipa DM10 Total Assets Cash 617 1,917 275 2,809 Other assets — 95 411 506 Intangible assets 2,869 10,037 2,950 15,856 3,486 12,049 3,636 19,171 Liabilities Other liabilities (6,159) (198) (1,522) (7,879) Total identifiable net assets at fair value (2,673) 11,851 2,114 11,292 Goodwill arising on acquisition (*) 39,832 20,732 14,886 75,450 Contingent consideration (**) 30,300 8,732 — 39,032 Purchase consideration transferred (*) 67,459 41,315 17,000 125,774 Analysis of cash flows on acquisition Net cash acquired with the subsidiary (617) (1,917) (275) (2,809) Payable in installments — (14,636) (6,000) (20,636) Contingent consideration (30,300) (8,732) — (39,032) Net of cash flow on acquisition (investing activities) 36,542 16,030 10,725 63,297 From R$63,297 of net cash flow on acquisition, R$62,443 was settled during 2020, and R$854 was settled in 2021. * During the measurement period, the purchase consideration transferred for the acquisitions was adjusted to R$125,774 (R$100,923 previously disclosed) as a result of purchase price adjustments. Accordingly, goodwill was updated to R$2,233. ** During the measurement period, the preliminary contingent consideration for the acquisitions was adjusted to R$39,032 (R$14,183 previously disclosed) as a result of a fair value adjustment of R$24,849.
Summary of intangible assets acquired	Assets Amount Method Expected amortization period Customer list 2,181 Multi-period excess earning method 5.5 years Trademark 3,799 Relief from royalty 5 years Technology 9,876 Relief from royalty 5 years

Securities purchased (sold) u_2

Securities purchased (sold) under resale (repurchase) agreements (Tables)	12 Months Ended
	Dec. 31, 2021
Securities purchased under agreements to resell [Abstract]
Summary of securities purchased under agreements to resell	Securities purchased under agreements to resell 2021 2020 Available portfolio 3,322,254 1,409,742 National Treasury Notes (NTNs) (i) 2,671,122 876,146 Financial Treasury Bills (LFTs) (i) — 452,714 National Treasury Bills (LTNs) (i) 544,546 44,093 Debentures (ii) 37,688 36,789 Real Estate Receivable Certificates (CRI) (ii) 43,397 — Financial credit bills (LF) 25,501 — Collateral held 5,574,846 5,218,037 National Treasury Bills (LTNs) (i) — 976,468 National Treasury Notes (NTNs) (i) 1,556,303 4,241,569 Debentures (ii) 906,519 — Real Estate Receivable Certificates (CRI) (ii) 2,586,893 — Financial credit bills (LF) 525,131 — Expected Credit Loss (iii) (2,569) (370) Total 8,894,531 6,627,409 (i) Investments in purchase and sale commitments collateral-backed by sovereign debt securities refer to transactions involving the purchase of sovereign debt securities with a commitment to sale originated in the subsidiary XP CCTVM and in exclusive funds and were carried out at an average fixed rate of 9.15% p.a. (1.91% p.a. as of December 31, 2020). (ii) Refers to fixed-income securities issued by private companies. (iii) The reconciliation of gross carrying amount and the expected credit loss segregated by stages are presented in the Note 14.
Summary of securities sold under repurchase agreements	Securities sold under repurchase agreements 2021 2020 National Treasury Bills (LTNs) 3,325,188 18,318,498 National Treasury Notes (NTNs) 10,098,672 13,497,944 Financial Treasury Bills (LFTs) 7,515,712 — Debentures 553,953 22,902 Real Estate Receivable Certificates (CRI) 4,324,155 — Financial credit bills (LF) 463,665 — Total 26,281,345 31,839,344

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Summary of Securities Classified At Fair Value Through Profit And Loss And At Fair Value Through Other Comprehensive Income	a) Securities classified at fair value through profit and loss and at fair value through other comprehensive income are presented in the following table: 2021 2020 Gross carrying amount Fair value Gross carrying amount Fair value Financial assets (i) At fair value through profit or loss Available portfolio 56,899,391 56,985,365 49,157,111 49,590,013 Brazilian government bonds 15,577,753 15,582,410 30,752,903 31,129,671 Investment funds 28,520,788 28,520,788 11,216,914 11,221,774 Stocks issued by public-held company 4,768,724 4,768,724 3,802,610 3,802,470 Debentures 4,493,406 4,522,150 1,111,595 1,114,967 Structured transaction certificate 235,794 270,225 485,012 515,960 Bank deposit certificates (ii) 352,770 356,313 371,455 372,329 Agribusiness receivables certificates 573,374 579,224 359,607 363,721 Certificate of real estate receivable 568,347 575,717 97,606 96,930 Financial credit bills 663,236 669,819 81,465 82,209 Others (iv) 1,145,199 1,139,995 877,944 889,982 Investments held in trust accounts 1,194,590 1,194,590 — — US government bonds (iii) 1,194,590 1,194,590 — — Total 58,093,981 58,179,955 49,157,111 49,590,013 (i) Financial assets include R$31,921,400 (December 31, 2020 – R$13,387,913) related to Specially Constituted Investment Fund (“FIE”) as presented in Note 23, out of which R$26,336,326 (December 31, 2020 – R$10,625,520) are Investments funds. (ii) Bank deposit certificates include R$194,892 (December 31, 2020 – R$111,927) presented as cash equivalents in the statements of cash flows. (iii) Related to investments received through IPO transactions derived by XPAC Acquisition Corp. These funds are restricted for use and may only be used for purposes of completing an initial business combination or redemption of public shares as set forth in XPAC Acquisition Corp. trust agreement. (iv) Mainly related to securities loaned. b) Securities at fair value through other comprehensive income are presented in the following table 2021 2020 Gross carrying amount Fair value Gross carrying amount Fair value Financial assets At fair value through other comprehensive income (i) National treasury bill 32,725,011 31,868,878 19,011,499 19,039,044 Bonds 458,755 463,499 — — Total 33,183,766 32,332,377 19,011,499 19,039,044 (i) Includes expected credit losses in the amount of R$7,527 (December 31,2020 – R$8,855). The reconciliation of gross carrying amount and the expected credit loss segregated by stages are presented in the Note 14.
Summary of Financial Assets At Amortized Cost Securities	c) Securities evaluated at amortized cost are presented in the following table: 2021 2020 Gross carrying amount Book value Gross carrying amount Book value Financial assets At amortized cost (i) Bonds 1,871,273 1,868,776 1,829,791 1,828,704 Rural product note 328,638 328,638 — — Debentures 41,393 41,393 — — Total 2,241,304 2,238,807 1,829,791 1,828,704 (i) Include expected credit losses in the amount of R$2,497 (December 31,2020 – R$1,087). The reconciliation of gross carrying amount and the expected credit losses segregated by stages are presented in the Note 14.
Summary of Securities on the Financial Liabilities Classified at Fair Value through Profit or Loss	d ) Securities on the financial liabilities classified at fair value through profit or loss are presented in the following table: 2021 2020 Gross carrying amount Fair value Gross carrying amount Fair value Financial liabilities At fair value through profit or loss Securities loaned 2,146,398 2,146,398 2,237,442 2,237,442 2021 2020 Gross carrying amount Fair Gross carrying amount Fair Financial liabilities At fair value through profit or loss Debentures 536,881 518,804 — — Assets Liabilities 2021 2020 2021 2020 Financial assets At fair value through PL and at OCI Current 47,431,624 34,572,107 2,146,398 2,237,442 Non-stated maturity 31,425,792 15,246,105 2,146,398 2,237,442 Up to 3 months 4,556,261 794,025 — — From 3 to 12 months 11,449,571 18,531,977 — — Non-current 43,088,235 34,065,805 518,804 — After one year 43,088,235 34,065,805 518,804 — Evaluated at amortized cost Current 1,891,889 1,829,791 — — Up to 3 months 1,698,760 1,623,487 — — From 3 to 12 months 193,129 206,304 — — Non-current 349,415 — — — After one year 349,415 — — — Total 92,761,163 70,467,703 2,665,202 2,237,442
Summary of Fair Value and Remaining Contractual Principal Balance Outstanding	The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of December 31, 2021 for instruments for which the fair value option has been elected. 2021 Contractual principal outstanding Fair value Fair value/(under) contractual principal outstanding Long-term debt Debentures 536,881 518,804 (18,077)

Derivative financial instrume_2

Derivative financial instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Summary of positions with derivative financial instruments	Positions with derivative financial instruments as of December 31, 2021 and 2020 are shown below: 2021 Assets Liabilities Fair value Notional Fair value Notional Options 6,570,325 371,849,357 8,112,055 311,295,196 Swaps 2,577,311 75,380,631 2,561,327 82,520,691 Forward contracts 1,601,167 88,107,328 1,057,426 44,968,097 Futures contracts 194,911 11,932,285 157,710 13,041,450 Others (i) — — 19,665 84,184 Total 10,943,714 547,269,601 11,908,183 451,909,618 2020 Assets Liabilities Fair value Notional Fair value Notional Options 6,298,358 681,464,674 6,735,478 614,741,256 Swaps 777,816 5,578,227 870,393 6,143,671 Forward contracts 456,724 2,905,411 200,272 3,035,011 Futures contracts 26,535 43,100,609 13,221 44,981,642 Total 7,559,433 733,048,921 7,819,364 668,901,580 (i) Related to Public Warrants and Private placement Warrants liabilities issued by XPAC Acquisition Corp.
Summary of derivative financial instruments by maturity	Below is the composition of the Derivative financial instruments portfolio (assets and liabilities) by type of instrument, stated fair value and by maturity: 2021 Fair Value % Up to 3 months From 4 to 12 months Above 12 months Assets Swap contracts 2,577,311 14 73,016 259,300 2,244,995 Forward contracts 1,601,167 16 404,764 216,895 979,508 Future contracts 194,911 2 21,891 3,275 169,745 Options 6,570,325 68 1,474,816 2,281,088 2,814,421 Total 10,943,714 100 1,974,487 2,760,558 6,208,669 Liabilities Options 8,112,055 69 1,941,553 1,937,725 4,232,777 Forward contracts 1,057,426 18 62,935 68,398 926,093 Future contracts 157,710 10 6 4,814 152,890 Swap contracts 2,561,327 3 113,754 240,005 2,207,568 Others (i) 19,665 — 19,665 — — Total 11,908,183 100 2,137,913 2,250,942 7,519,328 (i) Related to Public Warrants and Private placement Warrants liabilities issued by XPAC Acquisition Corp. 2020 Fair value % Up to 3 months From 4 to 12 months Above 12 months Assets Swap contracts 777,816 10 35,241 206,921 535,654 Forward contracts 456,724 6 230,862 201,324 24,538 Future contracts 26,535 1 26,535 — — Options 6,298,358 83 2,327,062 2,351,285 1,620,011 Total 7,559,433 100 2,619,700 2,759,530 2,180,203 Liabilities Options 6,735,478 87 2,152,890 2,378,689 2,203,899 Forward contracts 200,272 2 133,679 49,102 17,491 Future contracts 13,221 1 542 1,742 10,937 Swap contracts 870,393 10 99,249 213,532 557,612 Total 7,819,364 100 2,386,360 2,643,065 2,789,939
Summary of derivative financial instruments by index	Derivatives financial instruments by index: 2021 2020 Notional Fair Value Notional Fair Value Swap Contracts Asset Position Interest 66,123,491 1,799,953 5,014,934 776,215 Foreign exchange 1,978,886 16,013 563,293 1,601 Share 7,278,254 761,345 — — Liability Position Interest 75,207,636 (2,461,848) 6,143,671 (870,393) Foreign exchange 5,888,850 (28,509) — — Share 1,424,205 (70,970) — — Forward Contracts Asset Position Foreign exchange 81,544,253 282,775 2,546,940 98,253 Share 4,603,031 412,097 325,519 325,519 Interest 906,295 906,295 32,952 32,952 Commodities 1,053,749 — — — Liability Position Foreign exchange 42,367,576 (139,642) 3,002,067 (167,328) Interest 906,302 (906,302) 32,944 (32,944) Share 11,482 (11,482) — — Commodities 1,682,737 — — — Future Contracts Purchase commitments Foreign exchange 155,487 194,911 — — Interest 11,629,715 — 43,100,609 26,535 Share 147,083 — — — Commitments to sell Interest 12,188,922 (157,710) 44,981,642 (13,221) Foreign exchange 705,334 — — — Share 147,083 — — — Commodities 111 — — — Options Purchase commitments Foreign exchange 25,973,934 2,248,675 — — Share 72,883,420 3,146,174 5,827,205 1,074,507 Interest 272,987,997 1,160,526 675,637,469 5,223,851 Commodities 4,006 14,950 — — Commitments to sell Foreign exchange 24,541,428 (3,080,095) — — Shares 13,690,202 (2,788,089) 9,229,113 (945,828) Commodities 680,404 (113,875) — — Interest 272,383,162 (2,129,996) 605,512,143 (5,789,650) Others Liability Position Interest 84,184 (19,665) — — Assets 10,943,714 7,559,433 Liabilities (11,908,183) (7,819,364) Net (964,469) (259,931)

Hedge accounting (Tables)

Hedge accounting (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about hedged items [abstract]
Summary of detailed information about hedging instruments	The Group undertakes risk management through the economic relationship between hedge instruments and hedged items, in which it is expected that these instruments will move in opposite directions, in the same proportions, with the aim of neutralizing the risk factors. Hedged item Hedge instrument Book Value Variation in value recognized in Other comprehensive income Notional value Variation in the Strategies Assets Liabilities 2021 Foreign exchange risk Hedge of net investment in foreign operations 310,069 — 19,474 440,022 (18,758) Total 310,069 — 19,474 440,022 (18,758) 2020 Foreign exchange risk Hedge of net investment in foreign operations 245,986 — 52,299 349,218 349,218 Total 245,986 — 52,299 349,218 (60,563) 2019 Foreign exchange risk Hedge of net investment in foreign operations 186,412 — 5,946 248,896 (7,133) Total 186,412 — 5,946 248,896 (7,133)
Effects of hedge accounting	The effects of hedge accounting on the financial position and performance of the Group are presented below: Hedged item Hedge instrument Book Value Variation in value recognized in income Notional value Variation in the Strategies Assets Liabilities 2021 Interest rate and foreign exchange risk Hedge of securities — 9,264,330 506,190 9,297,999 (495,191) Total — 9,264,330 506,190 9,297,999 (495,191) Hedged item Hedge instrument Book Value Variation in value recognized in income Notional value Variation in the Strategies Assets Liabilities 2020 Interest rate and foreign exchange risk Hedge of securities — 2,178,459 (47,923) 2,188,732 46,795 Total — 2,178,459 (47,923) 2,188,732 46,795 The hedge ineffectiveness recognized in statements of income are presented below: 2021 Notional amount Book value (i) Variation in fair value used to calculate hedge ineffectiveness Hedge ineffectiveness recognized in income Hedge Instruments Assets Liabilities Interest rate risk Futures 8,861,195 — 8,830,343 (491,649) 10,995 Foreign exchange risk Futures 876,826 310,069 433,987 (22,300) 720 2020 Notional amount Book value (i) Variation in fair value used to calculate hedge ineffectiveness Hedge ineffectiveness recognized in income Hedge Instruments Assets Liabilities Interest rate risk Futures 2,188,732 — 2,178,459 46,795 (1,128) (i) Amounts recorded within financial statement line “Derivative financial instruments.” See Note 8. The table below presents, for each strategy, the notional amount and the fair value adjustments of hedge instruments and the book value of the hedged item: December 31, 2021 December 31, 2020 December 31, 2019 Strategies Hedge instruments Hedge item Hedge instruments Hedge item Hedge instruments Hedge item Notional amount Fair value adjustments Book value Notional amount Fair value adjustments Book value Notional amount Fair value adjustments Book value Hedge of Fair Value 9,297,999 (495,191) 506,190 2,188,732 (47,923) 46,795 — — — Hedge of net investment in foreign operations 440,022 (18,758) 19,474 349,218 (60,563) 52,299 248,896 5,946 (7,133) Total 9,738,021 (513,949) 525,664 2,537,950 (108,486) 99,094 248,896 5,946 (7,133)
Breakdown notional value by maturity of hedging strategies	The table below shows the breakdown notional value by maturity of the hedging strategies: 2021 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of Fair Value 136,636 276,219 478,745 972,199 4,510,125 2,924,075 9,297,999 Hedge of net investment in foreign operations 384,217 — — 55,805 — — 440,022 Total 520,853 276,219 478,745 1,028,004 4,510,125 2,924,075 9,738,021 2020 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of Fair Value 1,977 13,375 94,099 44,843 672,978 1,361,460 2,188,732 Hedge of net investment in foreign operations — — 146,547 202,671 — — 349,218 Total 1,977 13,375 240,646 247,514 672,978 1,361,460 2,537,950 2019 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of net investment in foreign operations 7,658 — — 91,698 149,540 — 248,896 Total 7,658 — — 91,698 149,540 — 248,896

Loan operations (Tables)

Loan operations (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of financial assets [abstract]
Loan operations by class, sector of debtor, maturity and concentration	Following are the breakdown of the carrying amount of loan operations by class, sector of debtor, maturity and concentration: Loans by type 2021 2020 Pledged asset loan Retail 7,296,172 2,698,018 Corporate 1,887,649 946,008 Credit card 2,605,598 51,270 Non-pledged loan Retail 117,032 116,978 Corporate 937,586 113,155 Total Loans operations 12,844,037 3,925,429 Expected Credit Loss (Note 14(b)) (24,410) (7,101) Total loans operations, net of Expected Loss 12,819,627 3,918,328 By maturity 2021 2020 Due in 3 months or less 2,539,387 160,918 Due after 3 months through 12 months 2,081,563 580,183 Due after 12 months 8,223,087 3,184,328 Total Loans operations 12,844,037 3,925,429 By concentration 2021 2020 Largest debtor 227,229 150,040 10 largest debtors 1,162,802 726,904 20 largest debtors 1,721,591 1,043,583 50 largest debtors 2,793,814 1,521,310 100 largest debtors 3,899,644 1,885,614

Accounts receivable (Tables)

Accounts receivable (Tables)	12 Months Ended
	Dec. 31, 2021
Trade and other receivables [abstract]
Summary of accounts receivable	2021 2020 Customers (a) 419,532 455,253 Dividends and interest receivable on equity capital - Funds 3,593 6,393 Other (b) 52,492 51,131 (-) Expected credit losses on accounts receivable (Note 14(b)) (6,531) (6,418) Total 469,086 506,359 (a) Refers to receivables from management fee arising from the distribution of funds and amounts receivable related to service provision, which have an average term of 30 days. There is no concentration on the balances receivable as of December 31, 2021 and 2020. (b) Mainly related to accounts receivable from B3.

Recoverable taxes (Tables)

Recoverable taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Summary of recoverable taxes	2021 2020 Prepayments of income taxes (IRPJ and CSLL) 146,636 122,070 Contributions over revenue (PIS and COFINS) 5,654 3,993 Other recoverable taxes (i) 1,026 1,560 Total 153,316 127,623 Current 153,316 127,623 Non-current — — (i) The amount refers to taxes on services - ISS of R$1,002 (2020– R$979), value added taxes – VAT of nil (2020 –R$581) and Contributions for Social Security - INSS of R$24 (2020–nil).

Prepaid expenses (Tables)

Prepaid expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Summary of prepaid expenses	2021 2020 Commissions and premiums paid in advance (a) 3,737,354 1,314,771 Marketing expenses 28,147 28,056 Services paid in advance 41,990 6,245 Other expenses paid in advance 175,259 44,465 Total 3,982,750 1,393,537 Current 251,973 283,183 Non-current 3,730,777 1,110,354 (a) Mostly comprised by long term investment programs implemented by XP CCTVM through its network of IFAs. These commissions and premiums paid are recognized at the signing date of each contract and are amortized in the statement of income of the Group, linearly, according to the investment term period.

Expected credit losses on fin_2

Expected credit losses on financial assets and reconciliation of carrying amount (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of fair value measurement of assets [abstract]
Expected Credit Losses on Financial Assets and Reconciliation of carrying amount	It is presented below the reconciliation by stage of gross carrying amount of Financial assets through other comprehensive income and Financial assets measured at amortized cost – that have their ECLs (Expected Credit Losses) measured using the three stage model and the low credit risk simplification. Stage 1 Balance at December 31, 2020 Acquisition / (Settlements) Transfer to Transfer to Cure from Cure from Closing balance December 31, 2021 Financial assets at fair value through other comprehensive income Securities 19,047,899 13,292,005 — — — — 32,339,904 Financial assets amortized cost Securities 1,829,791 411,513 — — — — 2,241,304 Securities purchased under agreements to resell 6,627,779 2,269,321 — — — — 8,897,100 Loans and credit card operations 3,599,808 9,013,279 (667,692) (3,494) 211,648 — 12,153,549 Total on-balance exposures 31,105,277 24,986,118 (667,692) (3,494) 211,648 — 55,631,857 Off-balance exposures (credit card limits) — 1,334,467 (59,408) (5) 32,932 — 1,307,986 Total exposures 31,105,277 26,320,585 (727,100) (3,499) 244,580 — 56,939,843 Stage 2 Balance at December 31, 2020 Acquisition / (Settlements) Transfer to stage 1 Transfer to stage 3 Cure from stage 1 Cure from stage 3 Closing balance December 31, 2021 Financial assets amortized cost Loans and credit card operations 325,621 (94,671) (211,648) — 667,692 — 686,994 Total on-balance exposures 325,621 (94,671) (211,648) — 667,692 — 686,994 Off-balance exposures (credit card limits) 35,810 (2,878) (32,932) — 59,408 — 59,408 Total exposures 361,431 (97,549) (244,580) — 727,100 — 746,402 Stage 3 Balance at December 31, 2020 Acquisition / (Settlements) Transfer to stage 1 Transfer to stage 2 Cure from stage 1 Cure from stage 2 Closing balance December 31, 2021 Financial assets amortized cost Loans and credit card operations — — — — 3,494 — 3,494 Total on-balance exposures — — — — 3,494 — 3,494 Off-balance exposures (credit card limits) — — — — 5 — 5 Total exposures — — — — 3,499 — 3,499 Consolidated Stages Balance at December 31, 2020 Derecognition Purchases / (Settlements) Closing balance December 31, 2021 Financial assets at fair value through other comprehensive income Securities 19,047,899 — 13,292,005 32,339,904 Financial assets amortized cost Securities 1,829,791 — 411,513 2,241,304 Securities purchased under agreements to resell 6,627,779 — 2,269,321 8,897,100 Loans and credit card operations 3,925,429 — 8,918,608 12,844,037 Total on-balance exposures 31,430,898 — 24,891,447 56,322,345 Off-balance exposures (credit card limits) 35,810 — 1,331,589 1,367,399 Total exposures 31,466,708 — 26,223,036 57,689,744 Stage 1 Balance at December 31, 2019 Acquisition / (Settlements) Transfer to stage 2 Transfer to stage 3 Cure from stage 2 Cure from stage 3 Closing balance December 31, 2020 Financial assets at fair value through other comprehensive income Securities 2,616,118 16,431,781 — — — — 19,047,899 Financial assets amortized cost Securities 2,266,971 (437,180) — — — — 1,829,791 Securities purchased under agreements to resell 9,490,090 (2,862,311) — — — — 6,627,779 Loans and credit card operations — 3,599,808 — — — — 3,599,808 Total on-balance exposures 14,373,179 16,732,098 — — — — 31,105,277 Total exposures 14,373,179 16,732,098 — — — — 31,105,277 Stage 2 Balance at December 31, 2019 Acquisition / (Settlements) Transfer to stage 1 Transfer to stage 3 Cure from stage 1 Cure from stage 3 Closing balance December 31, 2020 Financial assets amortized cost Loans and credit card operations — 325,621 — — — — 325,621 Total on-balance exposures — 325,621 — — — — 325,621 Off-balance exposures (credit card limits) — 35,810 35,810 Total exposures — 361,431 — — — — 361,431 Consolidated Stages Balance at December 31, 2019 Derecognition Purchases / (Settlements) Closing balance December 31, 2020 Financial assets at fair value through other comprehensive income Securities 2,616,118 — 16,431,781 19,047,899 Financial assets amortized cost Securities 2,266,971 — (437,180) 1,829,791 Securities purchased under agreements to resell 9,490,090 — (2,862,311) 6,627,779 Loans and credit card operations — — 3,925,429 3,925,429 Total on-balance exposures 14,373,179 — 17,057,719 31,430,898 Off-balance exposures (credit card limits) — — — 35,810 Total exposures 14,373,179 — 17,057,719 31,466,708 As of December 31, 2020, XP Group does not have financial assets classified as a Stage 3. The following table presents the gross carrying amount of Financial assets measured at amortized cost that have their ECLs measured using the simplified approach: Operations 2021 2020 Financial assets amortized cost Securities trading and intermediation 1,487,639 1,107,051 Accounts Receivable 475,617 512,777 Other financial assets 511,181 73,466 Total 2,474,437 1,693,294 b) Expected credit loss The table below presents the changes in ECLs, measured according three stage model, for assets classified as Financial assets through other comprehensive income –and Financial assets measured at amortized cost in the period ended December 31, 2021 and December 31, 2020, segregated by stages: Stage 1 ECL at December 31, 2020 Increase / (Reversal) Transfer to stage 2 Transfer to stage 3 Cure from stage 2 Cure from stage 3 ECL at December 31, 2021 Financial assets at fair value through other comprehensive income Securities 8,855 (1,328) — — — 7,527 Financial assets amortized cost Securities 1,087 1,410 — — — — 2,497 Securities purchased under agreements to resell 370 2,199 — — — — 2,569 Loans and credit card operations 5,648 17,207 (6,926) (2,197) 225 — 13,957 Total on-balance exposures 15,960 19,488 (6,926) (2,197) 225 — 26,550 Off-balance exposures (credit card limits) — 1,014 (288) — — — 726 Total exposures 15,960 20,502 (7,214) (2,197) 225 — 27,276 Stage 2 ECL at December 31, 2020 Increase / (Reversal) Transfer to stage 1 Transfer to stage 3 Cure from stage 1 Cure from stage 3 ECL at December 31, 2021 Financial assets amortized cost Loans and credit card operations 1,453 (912) (225) — 6,926 — 7,242 Total on-balance exposures 1,453 (912) (225) — 6,926 — 7,242 Off-balance exposures (credit card limits) — — — — 288 — 288 Total exposures 1,453 (912) (225) — 7,214 — 7,530 Stage 3 ECL at December 31, 2020 Increase / (Reversal) Transfer to stage 1 Transfer to stage 2 Cure from stage 1 Cure from stage 2 ECL at December 31, 2021 Financial assets amortized cost Loans and credit card operations — — — — 2,197 — 2,197 Total on-balance exposures — — — — 2,197 — 2,197 Total exposures — — — — 2,197 — 2,197 Consolidated Stages ECL at December 31, 2020 Derecognition Increase / (Reversal) ECL at December 31, 2021 Financial assets at fair value through other comprehensive income Securities 8,855 — (1,328) 7,527 Financial assets amortized cost Securities 1,087 — 1,410 2,497 Securities purchased under agreements to resell 370 — 2,199 2,569 Loans and credit card operations 7,101 — 16,295 23,396 Total on-balance exposures 17,413 — 18,576 35,989 Off-balance exposures (credit card limits) — — 1,014 1,014 Total exposures 17,413 — 19,590 37,003 Stage 1 ECL at December 31, 2019 Increase / (Reversal) Transfer to stage 2 Transfer to stage 3 Cure from stage 2 Cure from stage 3 ECL at December 31, 2020 Financial assets at fair value through other comprehensive income Securities — 8,855 — — — — 8,855 Financial assets amortized cost — — — — Securities — 1,087 — — — — 1,087 Securities purchased under agreements to resell — 370 — — — — 370 Loans and credit card operations 2 5,646 — — — — 5,648 Total on-balance exposures 2 15,958 — — — — 15,960 Total exposures 2 15,958 — — — — 15,960 Stage 2 ECL at December 31, 2019 Increase / (Reversal) Transfer to stage 1 Transfer to stage 3 Cure from stage 1 Cure from stage 3 ECL at December 31, 2020 Financial assets amortized cost Loans and credit card operations — 1,453 — — — — 1,453 Total on-balance exposures — 1,453 — — — — 1,453 Total exposures — 1,453 — — — — 1,453 Consolidated Stages ECL at December 31, 2019 Derecognition Increase / (Reversal) ECL at December 31, 2020 Financial assets at fair value through other comprehensive income Securities — — 8,855 8,855 Financial assets amortized cost Securities — — 1,087 1,087 Securities purchased under agreements to resell — — 370 370 Loans and credit card operations 2 — 7,099 7,101 Total on-balance exposures 2 — 17,411 17,413 Total exposures 2 — 17,411 17,413 The table below presents the ECLs for the financial assets measured according to simplified approach in the period ended December 31, 2021 and December 31, 2020: Expected Credit Losses 2021 2020 Financial assets amortized cost Securities trading and intermediation 81,988 55,485 Accounts Receivable 6,531 6,418 Other financial assets 49,666 3,312 Total 138,185 65,215 c) Expected credit losses segregated by products It is presented below the expected credit losses for 2021 and 2020, segregated by the products: Expected Credit Losses 2021 2020 Financial assets at fair value through other comprehensive income 7,527 8,855 Securities 7,527 8,855 Financial assets amortized cost 166,647 73,773 Securities 2,497 1,087 Securities purchased under agreements to resell 2,569 370 Loans and credit card operations 23,396 7,101 Securities trading and intermediation 81,988 55,485 Accounts Receivable 6,531 6,418 Other financial assets 49,666 3,312 Total losses for exposures 174,174 82,628 Off-balance exposures (credit card limits) 1,014 — Total exposures 175,188 82,628

Investments in associates and_2

Investments in associates and joint ventures (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of associates [abstract]
Investments in associates and joint ventures	Set out below are the associates and joint ventures of the Group as of December 31, 2021 and 2020. Entity 2020 Equity Equity in earnings Other comprehensive income Goodwill (i) 2021 Equity-accounted method Associates (ii.a) 697,924 33,036 (5,862) (20,641) 86,287 790,744 Joint ventures (ii.b) 1,983 — (1,848) 1,062 — 1,197 Measured at fair value Associates (iii) — 1,174,133 47,291 — — 1,221,424 Total 699,907 1,207,169 39,581 (19,579) 86,287 2,013,365 Entity 2019 Equity Equity in earnings Other comprehensive income Goodwill (i) 2020 Associates (ii.a) — 75,093 1,639 (56) 621,248 697,924 Joint ventures (ii.b) — 2,335 (777) 17 408 1,983 Total — 77,428 862 (39) 621,656 699,907 (i) Related to the acquisitions of associates and joint ventures. The goodwill recognized includes the value of expected synergies arising from the investments and includes an element of contingent consideration. (ii) At December 31, 2021, include interest in total and voting capital of the following companies: (a) Associates - Wealth High Governance Holding de Participações S.A. (49.9% total and voting capital at December 31,2021 and December 31, 2020); O Primo Rico Mídia, Educacional e Participações Ltda. (29.3% total and voting capital at December 31, 2021 and 20% at December 31, 2020); NK112 Empreendimentos e Participações S.A. (49.9% total and voting capital at December 31, 2021) (b) Joint ventures - Du Agro Holdings S.A. (49% total and voting capital at December 31, 2021 and December 31, 2020). (iii) As mentioned in Note 2 (iv) and Note 5 (c) (b), the Group measured the investments held through XP FIP Managers at fair value. The fair value of investments is presented in the statements of income as Net income from financial instruments at fair value through profit or loss.

Property, equipment, intangib_2

Property, equipment, intangible assets and leases (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Summary of property and equipment	(a) Property and equipment Data processing system Furniture and equipment Security systems Facilities Fixed assets in progress Vehicle Total Balance as of January 1, 2019 28,771 21,641 2,553 46,162 — — 99,127 Additions 15,039 9,942 664 22,315 24,539 — 72,499 Write-offs (304) (2,047) — (6,112) — — (8,463) Transfers — 2,409 — 22,130 (24,539) — — Depreciation in the year (9,059) (4,189) (1,673) (5,778) — — (20,699) Balance as of December 31, 2019 34,447 27,756 1,544 78,717 — — 142,464 Cost 62,235 38,086 7,716 84,726 — — 192,763 Accumulated depreciation (27,788) (10,330) (6,172) (6,009) — — (50,299) Balance as of January 1, 2020 34,447 27,756 1,544 78,717 — — 142,464 Additions 15,457 5,539 1,239 2,650 120,279 — 145,164 Write-offs (2,432) (6,191) (535) (41,376) (963) — (51,497) Transfers (2,411) 516 (820) 14,279 (17,706) — (6,142) Depreciation in the year (11,179) (5,004) (425) (9,349) — — (25,957) as of December 31, 2020 33,882 22,616 1,003 44,921 101,610 — 204,032 Cost 53,871 32,592 2,158 54,890 101,610 — 245,121 Accumulated depreciation (19,989) (9,976) (1,155) (9,969) — — (41,089) Balance as of January 1, 2021 33,882 22,616 1,003 44,921 101,610 — 204,032 Additions 37,469 93 229 4 63,250 34,399 135,444 Write-offs (298) (728) (170) (375) (729) — (2,300) Transfers 5 (15) 15 — — — 5 Foreign Exchange (31) 245 (327) 3 — — (110) Depreciation in the year (13,096) (3,990) (60) (5,353) (35) (573) (23,107) Balance as of December 31, 2021 57,931 18,221 690 39,200 164,096 33,826 313,964 Cost 89,376 31,813 1,584 54,535 164,096 34,399 375,803 Accumulated depreciation (31,445) (13,592) (894) (15,335) — (573) (61,839)
Summary of intangible assets	(b) Intangible assets Software Goodwill Customer list Trademarks Other intangible Assets Total Balance as of January 1, 2019 38,771 382,500 41,544 19,223 22,877 504,915 Additions 51,348 — 27,000 — 10,601 88,949 Write-offs (2,283) — — (33) (466) (2,782) Amortization in the year (21,526) — (7,945) (2,702) (5,457) (37,630) Balance as of December 31, 2019 66,310 382,500 60,599 16,488 27,555 553,452 Cost 104,270 382,500 105,977 22,239 39,823 654,809 Accumulated amortization (37,960) — (45,378) (5,751) (12,268) (101,357) Balance as of January 1, 2020 66,310 382,500 60,599 16,488 27,555 553,452 Additions 117,129 — 1,188 — 28,051 146,368 Business combination (Note 5(ii)) 8,143 91,866 2,181 3,314 — 105,504 Write-offs (22,064) — — — — (22,064) Transfers 2,857 — — — 3,285 6,142 Amortization in the year (57,222) — (5,683) (9,054) (3,881) (75,840) Balance as of December 31, 2020 115,153 474,366 58,285 10,748 55,010 713,562 Cost 219,029 474,366 76,050 52,616 55,010 877,071 Accumulated amortization (103,876) — (17,765) (41,868) — (163,509) Balance as of January 1, 2021 115,153 474,366 58,285 10,748 55,010 713,562 Additions 146,761 — 40,000 — 30,808 217,569 Business Combination 1,734 68,379 — 485 — 70,598 Write-offs (13,536) — — (1,000) (2,675) (17,211) Transfers 51,994 — — 485 (52,484) (5) Foreign Exchange (971) — — 341 204 (426) Amortization in the year (148,803) — (5,796) (8,492) (21) (163,112) Balance as of December 31, 2021 152,332 542,745 92,489 2,567 30,842 820,975 Cost 303,724 542,745 116,050 88,877 30,918 1,082,314 Accumulated amortization (151,392) — (23,561) (86,310) (76) (261,339)
Summary of right-of-use assets and lease liabilities	d) Leases Set out below, are the carrying amounts of the Group’s right-of-use assets and lease liabilities and the movements during the period: Right-of-use assets Lease liabilities As of January 1, 2020 227,478 255,406 Additions (i) 62,003 55,820 Depreciation expense (41,465) — Write-offs (78,321) (78,321) Interest expense — 19,456 Revaluation (9,115) (10,050) Impairment 422 — Effects of exchange rate 22,132 23,610 Payment of lease liabilities — (57,473) As of December 31, 2020 183,134 208,448 Current — 34,019 Non-current 183,134 174,429 As of January 1, 2021 183,134 208,448 Additions (i) 116,248 116,248 Depreciation expense (45,511) — Write-offs (856) — Interest expense — 17,488 Revaluation 25,305 24,234 Effects of exchange rate 6,189 7,486 Payment of lease liabilities — (55,349) As of December 31, 2021 284,509 318,555 Current — 71,925 Non-current 284,509 246,630 (i) Additions to right-of-use assets in the period include prepayments to lessors and accrued liabilities.

Financing instruments payable (

Financing instruments payable (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Schedule of financing instruments payable	2021 2020 Market funding operations (a) 20,122,206 5,216,599 Deposits 9,898,630 3,021,751 Demands deposits 229,691 44,536 Time deposits 9,662,694 2,977,215 Interbank deposits 6,245 — Financial bills 2,587,738 16,389 Structured operations certificates 7,635,838 2,178,459 Debt securities (b) 4,306,880 335,250 Debentures 169,094 335,250 Bond 4,137,786 — Total 24,429,086 5,551,849 Current 8,018,854 2,731,816 Non-Current 16,410,232 2,820,033
Maturity schedule	Maturity Maturity - 2021 Class Within 30 days From 31 to 60 days From 61 to 90 days From 91 to 180 days From 181 to 360 days After 360 days Total Demand deposits 229,691 — — — — — 229,691 Time deposits 751,676 520,694 712,092 3,231,965 2,341,770 2,104,497 9,662,694 Interbank deposits — 3,125 — — — 3,120 6,245 Financial bills — — — 10,945 6,164 2,570,629 2,587,738 Structured operations certificates 1,510 3,940 5,428 9,120 21,640 7,594,200 7,635,838 Total 982,877 527,759 717,520 3,252,030 2,369,574 12,272,446 20,122,206 Maturity – 2020 Class Within 30 days From 31 to 60 days From 61 to 90 days From 91 to 180 days From 181 to 360 days After 360 days Total Demand deposits 44,536 — — — — — 44,536 Time deposits 67,501 1,185 57,781 191,886 2,161,762 497,100 2,977,215 Financial bills — — — — — 16,389 16,389 Structured operations certificates — — — 945 1,489 2,176,025 2,178,459 Total 112,037 1,185 57,781 192,831 2,163,251 2,689,514 5,216,599
Schedule of debt securities	The total balance is comprised of the following issuances: 2021 2020 Up to 1 year 1-5 years Total Up to 1 year 1-5 years Total Bonds (i) Fixed rate — 4,137,786 4,137,786 — — — Debentures (ii) Fixed rate / Variable Rate 169,094 — 169,094 204,731 130,519 335,250 Total 169,094 4,137,786 4,306,880 204,731 130,519 335,250 Current 169,094 204,731 Non- Current 4,137,786 130,519 (i) XP Inc Bonds On July 1, 2021, XP Inc. concluded the issuance of a gross of US$750 million senior unsecured notes with net proceeds of US$739 million (R$3,697 million) with maturity on July 1, 2026 and bear interest at the rate of 3.250% per year and will be guaranteed by XP Investimentos S.A. (ii) Debentures The principal amount and accrued interest payables related to the issuance are as follow: (i) for the principal amount, 50% was due and paid on May 15, 2021 and the remaining balance on the maturity date of May 15, 2022, and (ii) the accrued interest is payable every 12 months from the issuance date. The annual rate is 107.5% CDI with a unit value at in the period ended of R$505,680. Debentures are subject to financial covenants, which have certain performance conditions. The Group has complied with these covenants throughout the reporting period (Note 36 (ii)). (iii) XP Energy issuance a. Promissory Note On September 9, 2021, XP Energia, a group’s subsidiary, issued the first promissory note with the objective of funding the Group’s working capital and treasury investments related to wholesale electricity trade business. The principal amount of R$80,000 is due and payable on the maturity date of September 4, 2022, and the interest rate is CDI + 3.5% pre-fixed rate annually payable. On December 31, 2021 the total amount was R$82,608, which is hold by entities within the Group and as such is not included in the consolidated financial statement. b. Debentures On December 8, 2021, XP Energia issued non-convertible Debentures in the amount of R$90,000. The Debentures series has a maximum authorized issuance up to R$1,500,000. The objective is to fund the Group’s working capital and treasury investments related to wholesale electricity trade business. The principal amount is due and will be paid on the maturity date of December 8, 2023. The interest rate is CDI+2.5% pre-fixed rate annually payable. On December 31, 2021 the total amount is R$90,679, which is hold by entities within the Group and as such is not included in the consolidated financial statement.

Securities trading and interm_2

Securities trading and intermediation (Tables)	12 Months Ended
	Dec. 31, 2021
Summary of Securities, Trading and Intermediation Assets and Liabilities [Abstract]
Summary of securities trading and intermediation assets and liabilities	Represented by operations at B3 on behalf of and on account of third parties, with liquidation operating cycle between D+1 and D+3. 2021 2020 Cash and settlement records 107,246 18,128 Debtors pending settlement 1,380,393 1,088,923 (-) Expected losses on Securities trading and intermediation (a) (81,988) (55,485) Total Assets 1,405,651 1,051,566 Cash and settlement records 365,700 59,712 Creditors pending settlement 15,231,855 20,243,409 Total Liabilities 15,597,555 20,303,121 (a) The reconciliation of gross carrying amount and the expected loss segregated by stage according to IFRS 9 is included in Note 14.

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of detailed information about borrowings [abstract]
Summary of borrowings	Interest rate % Maturity 2021 2020 Bank borrowings – domestic (i) 113% of CDI(*) March 2021 — 10,523 Related parties 10,523 Financial institution (iii) 0.813% May 2022 1,651,871 — Financial institution (ii) CDI (*)+ 0.774% April 2023 276,911 273,564 Third parties 1,928,782 273,564 Total borrowings 1,928,782 284,087 Current 1,661,067 17,637 Non-current 267,715 266,450 (*) Brazilian Interbank Offering Rate (CDI). (i) Loan agreement with Itaú Unibanco that was fully paid on March 8, 2021. (ii) Loan agreement entered into on March 28, 2018 with the International Finance Corporation (IFC). The principal amount is due on the maturity date and accrued interests payable at every six months. (iii) Loan agreement with Banco Nacional de México .

Other financial assets and fi_2

Other financial assets and financial liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Summary of other financial assets	Other financial assets 2021 2020 Foreign exchange portfolio 331,563 43,129 Receivables from IFAs 177,895 27,377 Other financial assets 1,723 2,777 (-) Expected losses on other financial assets (i) (49,666) (3,312) Total 461,515 69,971 Current 331,563 43,129 Non-current 129,952 26,842 (i) The reconciliation of gross carrying amount and the expected loss according to IFRS 9 is presented in Note 14.
Summary of other financial liabilities	Other financial liabilities 2021 2020 Foreign exchange portfolio 425,409 70,208 Structured financing (i) 2,415,400 874,771 Credit cards operations 2,522,833 50,727 Contingent consideration (ii) 743,443 462,000 Commitments subject to possible redemption (iii) 1,080,721 — Lease liabilities 318,555 208,448 Others 174,111 40,078 Total 7,680,472 1,706,232 Current 5,860,674 1,244,232 Non-current 1,819,798 462,000 (i) Financing for maintenance of financial assets required to perform financial transactions. (ii) Contractual contingent considerations mostly associated with the acquisition of participations (Note 15). The maturity of the total contingent consideration payment is up to 6 years and the contractual maximum amount payable is R$878,506 (the minimum amount is zero). In December 31, 2021, the total amount include R$216,666 of contingent consideration derived by our acquisitions (Note 5.ii.b). (iii) Related to the IPO transaction of XPAC Acquisition Corp. that occurred on August 3, 2021. The capital issued by XPAC Acquisition Corp. includes conditionally redeemable Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control. The noncontrolling shareholders of XPAC Acquisition Corp. have the right to redeem their shares in cash at the earliest of (i) upon the completion of XPAC Acquisition Corp’s initial business combination or (ii) 24 months from the closing of the IPO transaction.

Social and statutory obligati_2

Social and statutory obligations (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Schedule of social and statutory obligations	2021 2020 Obligations to non-controlling interest 106,648 82,524 Employee profit-sharing (a) 776,713 483,378 Salaries and other benefits payable 138,851 101,546 Total 1,022,212 667,448 (a) The Group has a bonus scheme for its employees based on a profit sharing program as agreed under collective bargaining with the syndicate, which does not extend to the Executive Board. The bonus is calculated at each half of the year and payments are made in February and August.

Tax and social security oblig_2

Tax and social security obligations (Tables)	12 Months Ended
	Dec. 31, 2021
Tax and Social Security Obligations [Abstract]
Summary of tax and social security obligations	2021 2020 Income Tax (IRPJ and CSLL) 273,395 261,490 Taxes on long term incentive plan (a) 155,454 62,155 Contributions over revenue (PIS and COFINS) 32,140 46,136 Taxes on services (ISS) 23,260 23,729 Contributions for Social Security (INSS) 20,318 12,291 Others 45,084 30,048 Total 549,651 435,849 Current 549,651 435,849 Non-current — — (a) The amount classified as "Taxes on long term incentive plan" includes mostly contributions to Brazilian Social Security Programs FGTS and INSS.

Private pension liabilities (Ta

Private pension liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of defined benefit plans [abstract]
Summary of net defined benefit liability (asset)	Changes in the period 2021 2020 As of January 1 13,387,913 3,759,090 Contributions received 3,056,032 1,678,532 Transfer with third party plans 16,854,605 7,657,636 Withdraws (1,468,710) (304,194) Interest from assets within FIEs 91,560 596,849 As of December 31 31,921,400 13,387,913

Income tax (Tables)

Income tax (Tables)	12 Months Ended
	Dec. 31, 2021
Major components of tax expense (income) [abstract]
Summary of components of deferred tax assets and deferred tax liabilities	Deferred tax assets (DTA) and deferred tax liabilities (DTL) are comprised of the main following components: Balance Sheet Net change in the year 2021 2020 2021 2020 2019 Tax losses carryforwards 108,138 7,382 100,756 (9,764) (38,212) Goodwill on business combinations (i) 12,429 22,838 (10,409) 535 (37,690) Provisions for IFAs’ commissions 76,974 94,544 (17,570) 26,503 37,010 Revaluations of financial assets at fair value 173,740 (16,780) 190,520 (42,039) 23,862 Expected credit losses 43,931 19,444 24,487 13,778 2,587 Profit sharing plan 260,865 164,808 96,057 23,672 141,136 Net gain on hedge instruments 28,124 20,987 7,137 57,371 (34,943) Share-based compensation 385,594 115,976 269,618 113,025 2,950 Other provisions 154,340 67,495 86,845 34,211 42,301 Total 1,244,135 496,694 747,441 217,292 139,001 Deferred tax assets 1,273,069 505,046 Deferred tax liabilities (28,934) (8,352) (i) For tax purposes, goodwill is amortized over 5 years on a straight-line basis when the entity acquired is sold or merged into another entity.
Summary of reconciliation of changes in net deferred tax	The changes in the net deferred tax were recognized as follows: 2021 2020 2019 At January 1 496,694 279,401 140,400 Foreign exchange variations (16,949) 6,372 (3,461) Charges to statement of income 387,551 196,498 139,411 Tax relating to components of other comprehensive income 376,839 14,423 3,051 At December 31 1,244,135 496,694 279,401
Summary of income tax calculation	The following is a reconciliation of income tax expense to profit (loss) for the year, calculated by applying the combined Brazilian statutory rates at 34% for the year ended December 31: 2021 2020 2019 Income before taxes 3,815,174 2,421,413 1,544,109 Combined tax rate in Brazil (a) 34.00 % 34.00 % 34.00 % Tax expense at the combined rate 1,297,159 823,280 524,997 Loss (income from entities not subject to deferred taxation 554 (12,470) (9,551) Effects from entities taxed at different rates 146,377 35,377 25,948 Effects from entities taxed at different taxation regimes (b) (1,128,400) (443,579) (24,089) Intercompany transactions with different taxation regimes (79,055) (74,289) (50,138) Tax incentives (21,036) (14,354) (9,772) Non-deductible expenses (non-taxable income) 25,216 49,640 33,854 Others (18,101) (23,681) (36,624) Total 222,714 339,924 454,625 Effective tax rate 5.84 % 14.04 % 29.44 % Current 610,265 536,422 594,037 Deferred (387,551) (196,498) (139,412) Total expense 222,714 339,924 454,625 (a) Considering that XP Inc. is domiciled in Cayman and there is no income tax in that jurisdiction, the combined tax rate of 34% demonstrated above is the current rate applied to XP Investimentos S.A. which is the holding company of all operating entities of XP Inc. in Brazil. (b) Certain eligible subsidiaries adopted the PPM tax regime and the effect of the presumed profit of subsidiaries represents the difference between the taxation based on this method and the amount that would be due based on the statutory rate applied to the taxable profit of the subsidiaries. Additionally, some entities and investment funds adopt different taxation regimes according to the applicable rules in their jurisdictions.
Summary of analysis of other comprehensive income by item	The tax (charge)/credit relating to components of other comprehensive income is as follows: Before tax (Charge) / Credit After tax Foreign exchange variation of investees located abroad 6,823 — 6,823 Gains (losses) on net investment hedge (10,543) 3,410 (7,133) Changes in the fair value of financial assets at fair value 1,057 (359) 698 As of December 31, 2019 (2,663) 3,051 388 Foreign exchange variation of investees located abroad 57,439 — 57,439 Gains (losses) on net investment hedge (91,762) 31,199 (60,563) Changes in the fair value of financial assets at fair value 40,979 (16,776) 24,203 As of December 31, 2020 6,656 14,423 21,079 Foreign exchange variation of investees located abroad 20,977 — 20,977 Gains (losses) on net investment hedge (29,700) 10,942 (18,758) Changes in the fair value of financial assets at fair value (914,914) 365,897 (549,017) As of December 31, 2021 (923,637) 376,839 (546,798)

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of classes of share capital [abstract]
Summary of issuances and conversations of shares	Below is a summary of the issuances and conversions of shares during 2021 and 2020: Class A Class B Total Shares As of December 31, 2019 354,181,346 197,618,980 551,800,326 Transfer of classes 16,325,000 (16,325,000) — Follow on offering 7,258,639 — 7,258,639 As of December 31, 2020 377,764,985 181,293,980 559,058,965 Transfer of classes (see note 1.2) 45,898,991 (45,898,991) — Issuance of shares 489,759 — 489,759 As of December 31, 2021 424,153,735 135,394,989 559,548,724

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of transactions between related parties [abstract]
Summary of key management personnel compensation expense	Key management includes executive statutory directors, members of the Board of Directors and Executive Boards. The compensation paid or payable to key management for their services is shown below: 2021 2020 2019 Fixed compensation 8,801 6,335 4,821 Variable compensation 44,362 55,909 22,060 Total 53,163 62,244 26,881
Summary of transactions between related parties explanatory	The main transactions carried with related parties for year-end balances arising from such transactions are as follows: Assets/(Liabilities) Revenue/(Expenses) Relation and transaction 2021 2020 2021 2020 2019 Shareholders with significant influence (i) (2,096,701) (5,667,588) (60,177) (53,881) (49,779) Securities 194,892 112,127 4,270 9,629 10,381 Securities purchased under agreements to resell — — 19,098 — 1,550 Accounts receivable and Loans operations 9,205 11,238 744 505 1,025 Securities sold under repurchase agreements (2,300,798) (5,780,430) (84,268) (62,951) (58,078) Borrowings — (10,523) (21) (1,064) (4,657) (i) These transactions are mainly related to Itausa S.A. Group.

Provisions and contingent lia_2

Provisions and contingent liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of other provisions [abstract]
Summary of other provisions	2021 2020 Tax contingencies 10,374 10,097 Civil contingencies 12,539 4,281 Labor contingencies 6,395 5,333 Total provision 29,308 19,711 Judicial deposits (i) 11,202 10,199 (i) There are circumstances in which the Group is questioning the legitimacy of certain litigations or claims filed against it. As a result, either because of a judicial order or based on the strategy adopted by management, the Group might be required to secure part or the whole amount in question by means of judicial deposits, without this being characterized as the settlement of the liability. These amounts are classified as “Other assets” on the consolidated balance sheets and referred above for information.
Summary of changes in other provisions	Changes in the provision during the year 2021 2020 2019 Balance at January 1 19,711 15,193 17,474 Monetary correction 6,837 4,102 2,492 Provision 8,457 3,499 2,338 Reversed (3,132) (1,454) (3,939) Payments (2,565) (1,629) (3,172) Balance at December 31 29,308 19,711 15,193
Summary of contingent liabilities	Below is summarized these claims by nature: 2021 2020 Tax (i) 228,602 71,027 Civil (ii) 232,775 136,228 Labor 25,744 10,171 Total 487,121 217,426 (i) In December 2019, the Group was notified by tax authorities for a requirement of social security contributions due to employee profit sharing payments related to the calendar year 2015, allegedly in violation of Brazilian Law 10,101/00. Currently, the first appeal was denied by the first administrative level of the Revenue Service Office. The Group will provide the ordinary appeal to the Administrative Council of Tax Appeals (“CARF”). There are other favorable CARF precedents on the subject and the Group obtained legal opinions that support the Group’s defense and current practice. In November 2021, the Group was notified by tax authorities for a requirement of social security contributions due to employee profit sharing payments related to the calendar year 2017, allegedly in violation of Brazilian Law 10,101/00 and non-deductible expenses for the income tax in amount of received by the members of Council. The amount claimed is R$97,456. An administrative appeal was filed against the assessment, which is awaiting judgment by the Federal Revenue of Brazil (“RFB”). In December 2021, the Group received a tax assessment in total amount of R$58,262 for benefits that occurred in 2016, regarding the amortized goodwill originated in the acquisition of the General Atlantic and Actis at XP CCTVM in different years (2013 and 2016). An administrative appeal was filed against the assessment, which is awaiting judgment by the Federal Revenue of Brazil (“RFB”). (ii) The Group is defendant in 586 civil and administrative claims by customers and investment agents, mainly related to portfolio management, risk rating, copyrights and contract termination. The total amount represents the collective maximum value to which the Group is exposed based on the claims’ amounts monetarily restated.

Total revenue and income (Table

Total revenue and income (Tables)	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Disaggregation of revenue by major service lines	a) Net revenue from services rendered Revenue from contracts with customers derives mostly from services rendered and fees charged at daily transactions from customers, therefore mostly recognized at a point in time. Disaggregation of revenue by major service lines are as follows: 2021 2020 2019 Major service lines Brokerage commission 2,465,217 2,139,985 1,288,135 Securities placement 1,917,403 1,429,824 1,154,786 Management fees 1,489,736 1,224,125 1,035,224 Insurance brokerage fee 133,070 112,802 106,438 Educational services 71,295 118,272 97,986 Commissions Fees 192,923 90,804 48,413 Other services 532,035 386,780 227,054 6,801,679 5,502,592 3,958,036 (-) Sales taxes and contributions on revenue (i) (605,214) (486,104) (362,264) 6,196,465 5,016,488 3,595,772 (i) Mostly related to taxes on services (ISS) and contributions on revenue (PIS and COFINS).
Summary of net income from financial instruments	b) Net income from financial instruments 2021 2020 2019 Net Income of financial instruments at fair value through profit or loss 7,555,132 3,020,698 1,360,207 Net Income of financial instruments measured at amortized cost and at fair value through other comprehensive income (1,558,060) 188,196 199,947 (-) Taxes and contributions on financial income (116,425) (73,777) (28,118) 5,880,647 3,135,117 1,532,036
Summary of disaggregation by geographic location	c) Disaggregation by geographic location 2021 2020 2019 Brazil 11,723,976 7,454,304 4,790,236 United States (ii) 332,046 655,817 307,456 Europe 21,090 41,484 30,116 Total Revenue and Income 12,077,112 8,151,605 5,127,808 2021 2020 Brazil 7,698,115 3,244,421 United States (ii) 106,736 129,956 Europe 1,746 4,123 Selected assets (i) 7,806,597 3,378,500 (i) Selected assets are Total assets of the Group, less: cash, financial assets and deferred tax assets are presented by geographic location. (ii) Includes revenues and selected assets stated in the Cayman Islands.

Operating costs (Tables)

Operating costs (Tables)	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Summary of operating costs	2021 2020 2019 Commission and incentive costs 2,719,611 2,087,197 1,269,309 Operating losses 35,844 31,295 13,922 Other costs 674,654 526,867 313,419 Clearing house fees 411,605 344,278 201,083 Third parties’ services 88,431 92,997 76,669 Other 174,618 89,592 35,667 Total 3,430,109 2,645,359 1,596,650

Operating expenses by nature (T

Operating expenses by nature (Tables)	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Summary of operating expenses by nature	2021 2020 2019 Selling expenses 227,483 134,915 155,115 Advertising and publicity 227,483 134,915 155,115 Administrative expenses 4,692,698 3,013,598 1,891,481 Personnel expenses 3,427,220 2,138,470 1,261,887 Compensation 1,416,247 846,742 408,394 Employee profit-sharing and bonus 1,362,046 807,640 645,992 Executives profit-sharing 143,763 194,419 67,547 Benefits 130,187 75,302 47,457 Social charges 358,878 208,151 88,960 Other 16,099 6,216 3,537 Other taxes expenses 53,603 44,029 39,691 Depreciation of property and equipment and right-of-use assets 68,618 67,422 53,530 Amortization of intangible assets 163,112 75,839 37,630 Other administrative expenses 980,145 687,838 498,743 Data processing 450,796 322,659 178,860 Technical services 167,984 101,389 85,782 Third parties' services 249,514 168,019 145,730 Rent expenses 16,498 17,955 10,575 Communication 30,041 29,311 17,495 Travel 13,282 9,923 21,676 Legal and judicial 9,292 6,976 3,406 Other 42,738 31,606 35,219 Total 4,920,181 3,148,513 2,046,596

Other operating income, net (Ta

Other operating income, net (Tables)	12 Months Ended
	Dec. 31, 2021
Analysis of income and expense [abstract]
Summary of other operating income, net	2021 2020 2019 Other operating income 413,665 377,480 208,245 Revenue from incentives from Tesouro Direto, B3 and others (a) 366,163 352,879 101,615 Interest received on tax 7,604 5,521 31,782 Recovery of charges and expenses 4,473 1,798 53,453 Reversal of operating provisions 7,422 1,366 9,767 Other 28,003 15,916 11,628 Other operating expenses (89,311) (206,427) (54,888) Legal, administrative proceedings and agreement with customers (3,667) (45,277) (9,499) Losses on write-off and disposal of assets (4,377) (52,102) (10,265) Tax incentive expenses (10,788) (8,136) (7,060) Fines and penalties (1,378) (16,995) (1,191) Associations and regulatory fees (11,714) (13,524) (4,216) Charity (30,171) (41,654) (6,751) Other (27,216) (28,739) (15,906) Total 324,354 171,053 153,357 (a) Includes incentives received from third parties, mainly due to the joint development of retail products, and also the association of such entities with the XP ecosystem.

Share-based plan (Tables)

Share-based plan (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Summary of RSU and PSU activity	Set out below are summaries of XP Inc's RSU and PSU activity for 2021 and 2020. RSUs PSUs Total (In thousands, except weighted-average data, and where otherwise stated) Number of units Number of units Number of units Outstanding, January 1 2020 1,921,669 2,190,377 4,112,046 Granted 9,730,422 629,535 10,359,957 Forfeited (572,355) — (572,355) Outstanding, December 31, 2020 11,079,736 2,819,912 13,899,648 Outstanding, January 1, 2021 11,079,736 2,819,912 13,899,648 Granted 5,709,046 230,086 5,939,132 Forfeited (1,634,952) (83,938) (1,718,890) Outstanding, December 31, 2021 15,153,830 2,966,060 18,119,890

Earnings per share (basic and_2

Earnings per share (basic and diluted) (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings per share [abstract]
Summary of earnings per share	The following table presents the calculation of net income applicable to the owners of the parent and basic and diluted EPS for the years ended December 31, 2021, 2020 and 2019. 2021 2020 2019 Net Income attributable to owners of the Parent 3,589,416 2,076,430 1,080,484 Basic weighted average number of outstanding shares 559,004 552,291 511,462 Basic earnings per share - R$ 6.4211 3.7597 2.1125 Effect of dilution Shared-based plan and treasury shares 14,496 6,817 248 Diluted weighted average number of outstanding shares 573,499 559,108 511,710 Diluted earnings per share - R$ 6.2588 3.7138 2.1115 (i) See on note 25, the number of XP Inc.’s outstanding common shares during the year (ii) See on note 32, the number of shares granted and forfeited during the year regarding XP Inc.’s Share-based plan. (iii) Thousands of shares.

Determination of fair value (Ta

Determination of fair value (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Summary of fair value measurement of assets and liabilities	Below are the Group financial assets and liabilities by level within the fair value hierarchy. The Group assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels: 2021 Level 1 Level 2 Level 3 Fair Value Book Value Financial Assets Financial assets at Fair value through profit or loss Securities 49,677,779 8,502,176 — 58,179,955 58,179,955 Derivative financial instruments 194,911 10,748,803 — 10,943,714 10,943,714 Fair value through other comprehensive income Securities 32,332,377 — — 32,332,377 32,332,377 Evaluated at amortized cost Securities 1,870,205 671,977 — 2,542,182 2,238,807 Securities purchased under agreements to resell — 9,124,719 — 9,124,719 8,894,531 Securities trading and intermediation — 1,405,651 — 1,405,651 1,405,651 Accounts receivable — 469,086 — 469,086 469,086 Loan operations — 12,844,037 — 12,844,037 12,819,627 Other financial assets — 461,515 — 461,515 461,515 Financial liabilities Fair value through profit or loss Securities loaned 2,237,442 518,804 — 2,665,202 2,665,202 Derivative financial instruments 157,710 11,750,473 — 11,908,183 11,908,183 Evaluated at amortized cost Securities sold under repurchase agreements — 26,276,252 — 26,276,252 26,281,345 Securities trading and intermediation — 15,597,555 — 15,597,555 15,597,555 Financing instruments payable — 23,974,348 — 23,974,348 24,429,086 Borrowings — 1,932,859 — 1,932,859 1,928,782 Accounts payables — 867,526 — 867,526 867,526 Other financial liabilities — 6,937,029 743,443 7,680,472 7,680,472 Investments in associates measured at fair value — — 1,221,424 1,221,424 1,221,424 2020 Level 1 Level 2 Level 3 Fair Value Book Value Financial Assets Financial assets at Fair value through profit or loss Securities 35,549,047 14,040,966 — 49,590,013 49,590,013 Derivative financial instruments 26,535 7,532,898 — 7,559,433 7,559,433 Fair value through other comprehensive income Securities 19,039,044 — — 19,039,044 19,039,044 Evaluated at amortized cost Securities 1,830,031 — — 1,830,031 1,828,704 Securities purchased under agreements to resell — 6,627,044 — 6,627,044 6,627,409 Securities trading and intermediation — 1,051,566 — 1,051,566 1,051,566 Accounts receivable — 506,359 — 506,359 506,359 Loan operations — 4,037,954 — 4,037,954 3,918,328 Other financial assets — 69,971 — 69,971 69,971 Financial liabilities Fair value through profit or loss Securities loaned 2,237,442 — — 2,237,442 2,237,442 Derivative financial instruments 13,221 7,806,143 — 7,819,364 7,819,364 Evaluated at amortized cost Securities sold under repurchase agreements — 31,810,893 — 31,810,893 31,839,344 Securities trading and intermediation — 20,303,121 — 20,303,121 20,303,121 Financing instruments payable — 5,162,453 — 5,162,453 5,551,849 Borrowings — 283,993 — 283,993 284,087 Debentures — 331,520 — 331,520 335,250 Accounts payables — 859,550 — 859,550 859,550 Other financial liabilities — 1,244,232 462,000 1,706,232 1,706,232

Management of financial risks_2

Management of financial risks and financial instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Summary of financial assets representing the maximum exposure to credit risk	The carrying amount of the financial assets representing the maximum exposure to credit risk is shown in the table below: 2021 2020 Financial assets Securities purchased under agreements to resell 8,894,531 6,627,409 Securities 92,751,139 70,457,761 Public securities 48,246,922 51,944,301 Private securities 44,504,217 18,513,460 Derivative financial instruments 10,943,714 7,559,433 Securities trading and intermediation 1,405,651 1,051,566 Accounts receivable 469,086 506,359 Loan operations 12,819,627 3,918,328 Other financial assets 461,515 69,971 Off-balance exposures (credit card limits) 1,367,399 35,810 Total 129,112,662 90,190,827
Summary of financial liabilities into groupings based on their contractual maturities	The tables below summarizes the Group’s financial liabilities into groupings based on their contractual maturities: 2021 Liabilities Up to 1 month From 2 to 3 months From 3 to 12 months From 1 to 5 years Above 5 years Contractual cash flow Securities loaned 2,146,398 — — — 518,804 2,665,202 Derivative financial instruments 758,821 1,379,092 2,250,942 6,436,008 1,083,320 11,908,183 Securities sold under repurchase agreements 26,281,345 — — — — 26,281,345 Securities trading and intermediation 15,597,555 — — — — 15,597,555 Financing instruments payable 982,877 1,245,279 5,790,698 15,525,061 885,171 24,429,086 Borrowings — — 1,661,067 267,715 — 1,928,782 Accounts payables 867,526 — — — — 867,526 Other financial liabilities 5,856,309 — 4,365 1,819,798 — 7,680,472 Total 52,490,831 2,624,371 9,707,072 24,048,582 2,487,295 91,358,151 2020 Liabilities Up to 1 month From 2 to 3 months From 3 to 12 months From 1 to 5 years Above 5 years Contractual cash flow Securities loaned 2,237,442 — — — — 2,237,442 Derivative financial instruments 1,572,140 814,220 2,643,065 2,205,410 584,529 7,819,364 Securities sold under repurchase agreements 31,839,344 — — — — 31,839,344 Securities trading and intermediation 20,303,121 — — — — 20,303,121 Financing instruments payable 128,426 58,966 2,356,082 1,685,468 1,322,907 5,551,849 Borrowings 3,535 6,989 7,114 266,449 — 284,087 Accounts payables 859,550 — — — — 859,550 Other financial liabilities 1,038,628 5,721 25,454 571,054 65,375 1,706,232 Total 57,982,186 885,896 5,031,715 4,728,381 1,972,811 70,600,989
Summary of sensitivity analysis	2021 Trading portfolio Exposures Scenarios Risk factors Risk of variation in: I II III Pre-fixed Pre-fixed interest rate in Reais (285) (110,555) (204,607) Exchange coupons Foreign currencies coupon rate (35) (5,578) (11,325) Foreign currencies Exchange rates (364) 177,203 384,340 Price indexes Inflation coupon rates (248) (53,407) (103,602) Shares Shares prices (1,483) (131,753) 92,024 Seed Money (i) Seed Money (6,203) (155,068) (310,136) (8,618) (279,158) (153,306) 2020 Trading portfolio Exposures Scenarios Risk factors Risk of variation in: I II III Pre-fixed Pre-fixed interest rate in Reais (191) (9,056) (33,402) Exchange coupons Foreign currencies coupon rate (379) (5,508) (11,184) Foreign currencies Exchange rates (1,997) (169,318) (373,807) Price indexes Inflation coupon rates (311) (14,384) (28,434) Shares Shares prices (4,957) (107,704) (167,737) (7,835) (305,970) (614,564)

Capital management (Tables)

Capital management (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Summary of net debt and corresponding gearing ratios	The net debt and corresponding gearing ratios as of December 2021 and 2020 were as follows: 2021 2020 Group debt (Note 37) (i) 7,073,021 827,785 Structured financing (Note 20 (b)) 2,415,400 874,771 Total debt 9,488,421 1,702,556 Cash (2,485,641) (1,954,788) Securities purchased under agreements to resell (Note 6 (a)) (1,071,328) (593,673) Certificate deposits (Securities) (Note 7 (a)) (194,892) (111,927) Net debt 5,736,560 (957,832) Total equity 14,416,836 10,894,609 Total capital 20,153,396 9,936,777 Gearing ratio % 28.46% (9.64)% (i) Includes Debentures and Bonds designated as fair value through profit or loss. See Note 7(e) and 17, respectively.

Cash flow information (Tables)

Cash flow information (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of reconciliation of liabilities arising from financing activities [abstract]
Summary of debt reconciliation	(i) Debt reconciliation Debt securities (i) Borrowings Lease liabilities Debentures Bonds Total Total debt as of January 1, 2019 469,609 148,494 406,538 — 1,024,641 Acquisitions / Issuance — 124,196 400,000 — 524,196 Payments (85,353) (37,979) (11,815) — (135,147) Net foreign exchange differences — 3,085 — — 3,085 Interest accrued 26,250 17,610 40,507 — 84,367 Interest paid (28,428) — — — (28,428) Total debt as of December 31, 2019 382,078 255,406 835,230 — 1,472,714 Total debt as of January 1, 2020 382,078 255,406 835,230 — 1,472,714 Acquisitions / Issuance — 55,820 — — 55,820 Write-off — (78,321) — — (78,321) Payments (95,395) (57,473) (400,000) — (552,868) Repurchase — — (64,717) — (64,717) Revaluation — (10,050) — — (10,050) Net foreign exchange differences — 23,610 — — 23,610 Interest accrued 11,892 19,456 21,473 — 52,821 Interest paid (14,488) — (56,736) — (71,224) Total debt as of December 31, 2020 284,087 208,448 335,250 — 827,785 Total debt as of January 1, 2021 284,087 208,448 335,250 — 827,785 Acquisitions / Issuance 1,570,639 116,248 500,018 3,691,262 5,878,167 Payments (21,022) (55,349) (177,826) — (254,197) Revaluation — 24,234 — — 24,234 Net foreign exchange differences 73,426 7,486 — 431,250 512,162 Interest accrued 21,689 17,488 60,919 74,798 174,894 Interest paid (37) — (12,386) (69,004) (81,427) Total debt as of December 31, 2021 1,928,782 318,555 705,975 4,128,306 7,081,618 (i) Debt securities includes Debentures measured at FVPL presented in Note 7(e) and does not include fair value adjustments of (i) Debentures - R$18,077 and (ii) Bonds - R$9,480 (December 31, 2020: nil).

Operations - Additional informa

Operations - Additional information (Details) $ / shares in Units, R$ in Thousands, $ in Thousands	Dec. 07, 2020BRL (R$)shares	Dec. 07, 2020USD ($)$ / sharesshares	Dec. 31, 2021BRL (R$)shares	Dec. 31, 2020BRL (R$)	Dec. 31, 2019BRL (R$)	Jun. 22, 2021shares	Jan. 31, 2021Agreement	Jul. 01, 2020$ / sharesshares
Percentage of Ownership held by holding company			68.28%
Number of shares issued, new shares (in shares) | shares			489,759
Proceeds from SPAC issuance of shares | R$			R$ 1134797	R$ 0	R$ 0
Other comprehensive income, net | R$				R$ 1649	R$ 22824
Number of corporate reorganization agreements | Agreement							2
Number of depositary receipts per common share | shares						1
Class A Common Share
Number of shares issued (in shares) | shares		31,654,894						22,465,733
Shares issued price per share (in USD per share) | $ / shares		$ 39						$ 42.50
Shares issued to underwriters (in shares) | shares								2,930,313
Number of shares issued, new shares (in shares) | shares	7,130,435	7,130,435	489,759
Number of shares issued, existing shares (in shares) | shares		24,524,459
Proceeds from SPAC issuance of shares	R$ 1444530	$ 283,087
Underwriting discounts and commissions | R$	31,599
Other offering expenses | R$	7,271
Equity issuance costs recognized in income statement | R$	5,622
Other comprehensive income, net | R$	R$ 1649

Basis of preparation of the f_2

Basis of preparation of the financial statements (Details)	12 Months Ended
	Dec. 31, 2021segement
Disclosure Of Basis Of Preparation Of Financial Statements Abstract [Abstract]
Number of operating segment	1
Number of reportable segment	1

Summary of significant accoun_4

Summary of significant accounting policies - Summary of depreciation of property and equipment (Details)	12 Months Ended
	Dec. 31, 2021
Data processing system
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation annual rate	20.00%
Furniture and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation annual rate	10.00%
Security systems
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation annual rate	10.00%
Facilities
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation annual rate	10.00%
Vehicle
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation annual rate	10.00%

Summary of significant accoun_5

Summary of significant accounting policies - Summary of useful lives of intangible assets (Details)	12 Months Ended
	Dec. 31, 2021
Direct development costs
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	5 years
Bottom of range | Software
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	3 years
Bottom of range | Internally developed intangible
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	3 years
Bottom of range | Customer list
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	2 years
Bottom of range | Trademarks
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	10 years
Top of range | Software
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	5 years
Top of range | Internally developed intangible
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	7 years
Top of range | Customer list
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	8 years
Top of range | Trademarks
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	20 years

Summary of significant accoun_6

Summary of significant accounting policies - Additional information (Details) - BRL (R$)	1 Months Ended		12 Months Ended
	Jul. 31, 2021	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Summary of Significant Accounting Policies [Line Items]
Combined tax rate in Brazil			34.00%	34.00%	34.00%
Applicable surcharge tax rate			10.00%
Monthly minimum income for surcharge			R$ 20000
Annual minimum income for surcharge			R$ 240000
Social contribution tax on net income		20.00%	9.00%
Loss carryforwards used to offset taxable profit			30.00%
PIS tax rate			1.65%
COFINS tax rate			7.60%
Rate applicable to companies under PPM PIS			0.65%
Rate applicable to companies under PPM COFINS			3.00%
Bottom of range
Summary of Significant Accounting Policies [Line Items]
Percentage of taxes reducing gross revenues			2.00%
Top of range
Summary of Significant Accounting Policies [Line Items]
Percentage of taxes reducing gross revenues			5.00%
Financial Institutions and Insurance Companies
Summary of Significant Accounting Policies [Line Items]
Social contribution tax on net income			15.00%
Rate applicable to companies under PPM PIS			1.00%
Rate applicable to companies under PPM COFINS			4.00%
Financial Institutions
Summary of Significant Accounting Policies [Line Items]
Social contribution tax on net income	25.00%
Social contribution tax on net income temporary increase	5.00%
Insurance Companies
Summary of Significant Accounting Policies [Line Items]
Social contribution tax on net income	20.00%
Federal Income Tax
Summary of Significant Accounting Policies [Line Items]
Combined tax rate in Brazil			15.00%

Group structure - Summary of di

Group structure - Summary of direct and indirect interests of company in its subsidiaries (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
XP Investimentos S.A.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Holding
Percent of group's interest	100.00%	100.00%	0.00%
XPAC Sponsor LLC
Disclosure of subsidiaries [line items]
Country of incorporation	Cayman
Principal activities	Special Purpose Acquisition (SPAC) Sponsor
Percent of group's interest	100.00%	0.00%	0.00%
XProject LTD
Disclosure of subsidiaries [line items]
Country of incorporation	Cayman
Principal activities	Holding
Percent of group's interest	100.00%	0.00%	0.00%
XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Broker-dealer
Percent of group's interest	100.00%	100.00%	100.00%
XP Vida e Previdencia S.A.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Private pension and insurance
Percent of group's interest	100.00%	100.00%	100.00%
Banco XP S.A.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Multipurpose bank
Percent of group's interest	100.00%	100.00%	100.00%
XP Controle 3 Participações S.A.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Financial Holding
Percent of group's interest	100.00%	100.00%	100.00%
XPE Infomoney Educação Assessoria Empresarial e Participações Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Digital Content services
Percent of group's interest	100.00%	100.00%	99.99%
Tecfinance Informática e Projetos de Sistemas Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Rendering of IT services
Percent of group's interest	99.73%	99.76%	99.76%
XP Corretora de Seguros Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Insurance Broker
Percent of group's interest	99.99%	99.99%	99.99%
XP Gestão de Recursos Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	94.90%	94.80%	93.70%
XP Finanças Assessoria Financeira Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment consulting service
Percent of group's interest	99.99%	99.99%	99.99%
Infostocks Informações e Sistemas Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Mediation of information systems
Percent of group's interest	99.99%	99.99%	99.99%
XP Advisory Gestão Recursos Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	99.54%	99.50%	99.57%
XP Vista Asset Management Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	99.50%	99.45%	99.42%
XP Controle 4 Participações S.A.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Insurance holding
Percent of group's interest	100.00%	100.00%	100.00%
Leadr Serviços Online Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Social media
Percent of group's interest	0.00%	99.99%	99.99%
Spiti Análise Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment Advisor
Percent of group's interest	0.00%	100.00%	100.00%
Chamaleon Bravery Unipessoal LDA
Disclosure of subsidiaries [line items]
Country of incorporation	Portugal
Principal activities	Investment Advisor
Percent of group's interest	0.00%	100.00%	100.00%
XP Investments UK LLP
Disclosure of subsidiaries [line items]
Country of incorporation	UK
Principal activities	Inter-dealer broker and Organized Trading Facility (OTF)
Percent of group's interest	100.00%	100.00%	100.00%
Sartus Capital LTD
Disclosure of subsidiaries [line items]
Country of incorporation	UK
Principal activities	Investment advisor
Percent of group's interest	100.00%	100.00%	100.00%
XP Private (Europe) S.A.
Disclosure of subsidiaries [line items]
Country of incorporation	Switzerland
Principal activities	Investment advisor
Percent of group's interest	0.00%	100.00%	100.00%
XP Holding UK Ltd
Disclosure of subsidiaries [line items]
Country of incorporation	UK
Principal activities	International financial holding
Percent of group's interest	100.00%	100.00%	100.00%
XP Investments US, LLC
Disclosure of subsidiaries [line items]
Country of incorporation	USA
Principal activities	Broker-dealer
Percent of group's interest	100.00%	100.00%	100.00%
Xperience Market Services LLC
Disclosure of subsidiaries [line items]
Country of incorporation	USA
Principal activities	Non-operational
Percent of group's interest	0.00%	100.00%	100.00%
XP Holding International LLC
Disclosure of subsidiaries [line items]
Country of incorporation	USA
Principal activities	International financial holding
Percent of group's interest	100.00%	100.00%	100.00%
XP Advisory US
Disclosure of subsidiaries [line items]
Country of incorporation	USA
Principal activities	Investment advisor
Percent of group's interest	100.00%	100.00%	100.00%
XP PE Gestão de Recursos Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	98.70%	98.70%	0.00%
XP LT Gestão de Recursos Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	92.00%	92.00%	0.00%
Carteira Online Controle de Investimentos Ltda. - ME
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment consolidation platform
Percent of group's interest	99.99%	99.99%	0.00%
Antecipa S.A.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Receivables Financing Market
Percent of group's interest	100.00%	100.00%	0.00%
XP Allocation Asset Management Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	99.99%	99.99%	0.00%
Track Índices Consultoria Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Index Provider
Percent of group's interest	100.00%	100.00%	0.00%
XP Eventos Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Media and Events
Percent of group's interest	99.90%	99.00%	0.00%
DM10 Corretora de Seguros Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Insurance Broker
Percent of group's interest	100.00%	100.00%	0.00%
XP Comercializadora de Energia Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Energy trading
Percent of group's interest	100.00%	0.00%	0.00%
Instituto XP
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Non-profit entity
Percent of group's interest	100.00%	0.00%	0.00%
XPAC Acquisition Corp.
Disclosure of subsidiaries [line items]
Country of incorporation	US
Principal activities	Special Purpose Acquisition (SPAC)
Percent of group's interest	20.00%	0.00%	0.00%
XP Distribuidora de Titulos e Valores Mobiliarios
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Securities dealer
Percent of group's interest	100.00%	0.00%	0.00%
Instituto de Gestao a Tecnologia de Informacao Ltda.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Educational content services
Percent of group's interest	100.00%	0.00%	0.00%
Xchange Intermediacão S.A.
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Digital Assets
Percent of group's interest	100.00%	0.00%	0.00%
Falx Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	100.00%
Gladius Fundo de Investimento Multimercado Investimento no Exterior
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	100.00%
Scorpio Debentures Incentivadas Fundo de Investimento Multimercado Crédito Privado
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	100.00%
Galea Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	0.00%	100.00%	100.00%
Javelin Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	100.00%
Spatha Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	0.00%	100.00%	100.00%
Frade Fundo de Investimento em Cotas de Fundos de Investimento em Direitos Creditórios NP
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	100.00%
Frade III Fundo de Investimento em Cotas de Fundo de Investimento Multimercado Crédito Privado
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	0.00%
Balista Debentures Incentivadas Fundo de Investimento Multimercado Crédito Privado
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	0.00%	100.00%	0.00%
Coliseu Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	0.00%
NIMROD Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	0.00%
XP High Yield Fund SP
Disclosure of subsidiaries [line items]
Country of incorporation	Cayman
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	0.00%
XP International Fund SPC
Disclosure of subsidiaries [line items]
Country of incorporation	Cayman
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	0.00%
XP Managers Fundo de Investimento em Participações Multiestratégia
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	100.00%	0.00%
XP Alesia Fund SP CL Shares - Brazil Internacional Fund SPC.
Disclosure of subsidiaries [line items]
Country of incorporation	Cayman
Principal activities	Investment fund
Percent of group's interest	100.00%	0.00%	0.00%
Newave Fundo de Investimento em Participações Multiestratégia
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	0.00%	0.00%
Endor Fundo de Investimento em Participações Multiestratégia Investimento no Exterior
Disclosure of subsidiaries [line items]
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100.00%	0.00%	0.00%

Group structure - Additional in

Group structure - Additional information (Details) R$ in Thousands	Nov. 05, 2021BRL (R$)installment	Aug. 03, 2021BRL (R$)	Dec. 31, 2021BRL (R$)	Dec. 31, 2020BRL (R$)installment	Dec. 31, 2019BRL (R$)	Aug. 23, 2021	May 04, 2021	Dec. 23, 2020	Jun. 29, 2020	Jun. 09, 2020	Jun. 05, 2020
Disclosure of subsidiaries [line items]
Purchase consideration transferred				R$ 125774
Acquisition of subsidiaries, net of cash acquired			R$ 40857	62,443	R$ 0
Payable in installments				R$ 21487
Number of consecutive annual installments | installment				3
Contingent consideration				R$ 39032
Proceeds from SPAC issuance of shares			R$ 1134797	0	R$ 0
XPAC Acquisition Corp.
Disclosure of subsidiaries [line items]
Proceeds from SPAC issuance of shares		R$ 1134797
IGTI
Disclosure of subsidiaries [line items]
Percentage of voting equity interests acquired	100.00%
Purchase consideration transferred	R$ 46382
Acquisition of subsidiaries, net of cash acquired	40,000
Payable in installments	R$ 5000
Number of consecutive annual installments | installment	6
Contingent consideration	R$ 1381
XProject
Disclosure of subsidiaries [line items]
Percentage of voting equity interests acquired						100.00%
XP Energia
Disclosure of subsidiaries [line items]
Percentage of voting equity interests acquired							100.00%
Fliper
Disclosure of subsidiaries [line items]
Percentage of voting equity interests acquired											100.00%
Purchase consideration transferred				67,459
Acquisition of subsidiaries, net of cash acquired				36,542
Payable in installments				0
Contingent consideration				30,300
DM10
Disclosure of subsidiaries [line items]
Percentage of voting equity interests acquired										100.00%
Purchase consideration transferred				17,000
Acquisition of subsidiaries, net of cash acquired				10,725
Payable in installments				6,000
Contingent consideration				0
Antecipa
Disclosure of subsidiaries [line items]
Percentage of voting equity interests acquired									100.00%
Purchase consideration transferred				41,315
Acquisition of subsidiaries, net of cash acquired				16,030
Payable in installments				14,636
Contingent consideration				R$ 8732
Riza
Disclosure of subsidiaries [line items]
Percentage of voting equity interests acquired								100.00%

Group structure - Summary of th

Group structure - Summary of the net assets acquired, the goodwill (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Liabilities
Contingent consideration	R$ 743443	R$ 462000
Purchase consideration transferred		125,774
Analysis of cash flows on acquisition
Payable in installments		(21,487)
Contingent consideration		(39,032)
Acquisition of subsidiaries, net of cash acquired	40,857	62,443	R$ 0
Total
Assets
Cash		2,809
Other assets		506
Intangible assets		15,856
Total assets acquired as of acquisition date		19,171
Liabilities
Other liabilities		(7,879)
Total identifiable net assets at fair value		11,292
Goodwill arising on acquisition		75,450
Contingent consideration		39,032
Purchase consideration transferred		125,774
Analysis of cash flows on acquisition
Net cash acquired with the subsidiary		(2,809)
Payable in installments		(20,636)
Contingent consideration		(39,032)
Acquisition of subsidiaries, net of cash acquired		63,297
Goodwill arising on acquisition, previously disclosed		100,923
Contingent consideration, previously disclosed		14,183
Additional recognition, goodwill		2,233
Additional recognition, contingent consideration		24,849
Total | 2020
Analysis of cash flows on acquisition
Acquisition of subsidiaries, net of cash acquired		62,443
Total | 2021
Analysis of cash flows on acquisition
Acquisition of subsidiaries, net of cash acquired	R$ 854
Fliper
Assets
Cash		617
Other assets		0
Intangible assets		2,869
Total assets acquired as of acquisition date		3,486
Liabilities
Other liabilities		(6,159)
Total identifiable net assets at fair value		(2,673)
Goodwill arising on acquisition		39,832
Contingent consideration		30,300
Purchase consideration transferred		67,459
Analysis of cash flows on acquisition
Net cash acquired with the subsidiary		(617)
Payable in installments		0
Contingent consideration		(30,300)
Acquisition of subsidiaries, net of cash acquired		36,542
Antecipa
Assets
Cash		1,917
Other assets		95
Intangible assets		10,037
Total assets acquired as of acquisition date		12,049
Liabilities
Other liabilities		(198)
Total identifiable net assets at fair value		11,851
Goodwill arising on acquisition		20,732
Contingent consideration		8,732
Purchase consideration transferred		41,315
Analysis of cash flows on acquisition
Net cash acquired with the subsidiary		(1,917)
Payable in installments		(14,636)
Contingent consideration		(8,732)
Acquisition of subsidiaries, net of cash acquired		16,030
DM10
Assets
Cash		275
Other assets		411
Intangible assets		2,950
Total assets acquired as of acquisition date		3,636
Liabilities
Other liabilities		(1,522)
Total identifiable net assets at fair value		2,114
Goodwill arising on acquisition		14,886
Contingent consideration		0
Purchase consideration transferred		17,000
Analysis of cash flows on acquisition
Net cash acquired with the subsidiary		(275)
Payable in installments		(6,000)
Contingent consideration		0
Acquisition of subsidiaries, net of cash acquired		R$ 10725

Group structure - Summary of in

Group structure - Summary of intangible assets acquired (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2021BRL (R$)
Customer list
Disclosure of subsidiaries [line items]
Intangible assets	R$ 2181
Method	Multi-period excess earning method
Expected amortization period	5 years 6 months
Trademarks
Disclosure of subsidiaries [line items]
Intangible assets	R$ 3799
Method	Relief from royalty
Expected amortization period	5 years
Technology
Disclosure of subsidiaries [line items]
Intangible assets	R$ 9876
Method	Relief from royalty
Expected amortization period	5 years

Securities purchased (sold) u_3

Securities purchased (sold) under resale (repurchase) agreements - Summary of securities purchased under agreements to resell (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Expected credit loss	R$ 2569	R$ 370
Securities purchased under agreements to resell	R$ 8894531	R$ 6627409
Investments in purchase and sale commitments, interest rate	9.15%	1.91%
Available portfolio
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	R$ 3322254	R$ 1409742
Available portfolio | National Treasury Notes
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	2,671,122	876,146
Available portfolio | Financial Treasury Bills
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	0	452,714
Available portfolio | National Treasury Bills
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	544,546	44,093
Available portfolio | Debentures
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	37,688	36,789
Available portfolio | Real Estate Receivable Certificates
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	43,397	0
Available portfolio | Financial credit bills
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	25,501	0
Collateral held
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	5,574,846	5,218,037
Collateral held | National Treasury Notes
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	1,556,303	4,241,569
Collateral held | National Treasury Bills
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	0	976,468
Collateral held | Debentures
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	906,519	0
Collateral held | Real Estate Receivable Certificates
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	2,586,893	0
Collateral held | Financial credit bills
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	R$ 525131	R$ 0

Securities purchased (sold) u_4

Securities purchased (sold) under resale (repurchase) agreements - Additional information (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Securities purchased under agreements to resell [Abstract]
Securities purchased under agreements to resell presented as cash equivalents	R$ 1071328	R$ 593673	R$ 654057
Securities sold under repurchase agreements, interest rate	9.14%	1.89%

Securities purchased (sold) u_5

Securities purchased (sold) under resale (repurchase) agreements - Securities sold under repurchase agreements (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	R$ 26281345	R$ 31839344
National Treasury Bills
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	3,325,188	18,318,498
National Treasury Notes
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	10,098,672	13,497,944
Financial Treasury Bills
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	7,515,712	0
Debentures
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	553,953	22,902
Real Estate Receivable Certificates
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	4,324,155	0
Financial credit bills
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	R$ 463665	R$ 0

Securities - Summary of Securit

Securities - Summary of Securities Classified at Fair Value Through Profit or Loss (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Securities	R$ 58179955	R$ 49590013
Interbank certificate deposits	194,892	111,927	R$ 123817
Investment funds | XP Vida e Previdência S.A.
Disclosure of financial assets [line items]
Securities	26,336,326	10,625,520
Bank deposit certificates
Disclosure of financial assets [line items]
Interbank certificate deposits	194,892	111,927
Specially Constituted Investment Fund
Disclosure of financial assets [line items]
Securities	31,921,400	13,387,913
Gross carrying amount
Disclosure of financial assets [line items]
Securities	58,093,981	49,157,111
Gross carrying amount | Available portfolio
Disclosure of financial assets [line items]
Securities	56,899,391	49,157,111
Gross carrying amount | Brazilian government bonds
Disclosure of financial assets [line items]
Securities	15,577,753	30,752,903
Gross carrying amount | Investment funds
Disclosure of financial assets [line items]
Securities	28,520,788	11,216,914
Gross carrying amount | Stocks issued by public-held company
Disclosure of financial assets [line items]
Securities	4,768,724	3,802,610
Gross carrying amount | Debentures
Disclosure of financial assets [line items]
Securities	4,493,406	1,111,595
Gross carrying amount | Structured transaction certificate
Disclosure of financial assets [line items]
Securities	235,794	485,012
Gross carrying amount | Bank deposit certificates
Disclosure of financial assets [line items]
Securities	352,770	371,455
Gross carrying amount | Agribusiness receivables certificates
Disclosure of financial assets [line items]
Securities	573,374	359,607
Gross carrying amount | Certificate of real estate receivable
Disclosure of financial assets [line items]
Securities	568,347	97,606
Gross carrying amount | Financial credit bills
Disclosure of financial assets [line items]
Securities	663,236	81,465
Gross carrying amount | Others
Disclosure of financial assets [line items]
Securities	1,145,199	877,944
Gross carrying amount | Investments held in trust accounts
Disclosure of financial assets [line items]
Securities	1,194,590	0
Gross carrying amount | Us government bonds
Disclosure of financial assets [line items]
Securities	1,194,590	0
Fair value
Disclosure of financial assets [line items]
Securities	58,179,955	49,590,013
Fair value | Available portfolio
Disclosure of financial assets [line items]
Securities	56,985,365	49,590,013
Fair value | Brazilian government bonds
Disclosure of financial assets [line items]
Securities	15,582,410	31,129,671
Fair value | Investment funds
Disclosure of financial assets [line items]
Securities	28,520,788	11,221,774
Fair value | Stocks issued by public-held company
Disclosure of financial assets [line items]
Securities	4,768,724	3,802,470
Fair value | Debentures
Disclosure of financial assets [line items]
Securities	4,522,150	1,114,967
Fair value | Structured transaction certificate
Disclosure of financial assets [line items]
Securities	270,225	515,960
Fair value | Bank deposit certificates
Disclosure of financial assets [line items]
Securities	356,313	372,329
Fair value | Agribusiness receivables certificates
Disclosure of financial assets [line items]
Securities	579,224	363,721
Fair value | Certificate of real estate receivable
Disclosure of financial assets [line items]
Securities	575,717	96,930
Fair value | Financial credit bills
Disclosure of financial assets [line items]
Securities	669,819	82,209
Fair value | Others
Disclosure of financial assets [line items]
Securities	1,139,995	889,982
Fair value | Investments held in trust accounts
Disclosure of financial assets [line items]
Securities	1,194,590	0
Fair value | Us government bonds
Disclosure of financial assets [line items]
Securities	R$ 1194590	R$ 0

Securities - Summary of Secur_2

Securities - Summary of Securities at Fair Value Through Other Comprehensive Income (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Fair value through other comprehensive income	R$ 32332377	R$ 19039044
Expected credit losses	92,560	55,564	R$ 9410
Gross carrying amount
Disclosure of financial assets [line items]
Fair value through other comprehensive income	33,183,766	19,011,499
Fair value
Disclosure of financial assets [line items]
Fair value through other comprehensive income	32,332,377	19,039,044
National Treasury Bills
Disclosure of financial assets [line items]
Expected credit losses	7,527	8,855
National Treasury Bills | Gross carrying amount
Disclosure of financial assets [line items]
Fair value through other comprehensive income	32,725,011	19,011,499
National Treasury Bills | Fair value
Disclosure of financial assets [line items]
Fair value through other comprehensive income	31,868,878	19,039,044
Bonds
Disclosure of financial assets [line items]
Expected credit losses	2,497	1,087
Bonds | Gross carrying amount
Disclosure of financial assets [line items]
Fair value through other comprehensive income	458,755	0
Bonds | Fair value
Disclosure of financial assets [line items]
Fair value through other comprehensive income	R$ 463499	R$ 0

Securities - Summary of Secur_3

Securities - Summary of Securities Evaluated at Amortized Cost (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Financial assets at amortized cost	R$ 2238807	R$ 1828704
Expected credit losses	92,560	55,564	R$ 9410
Bonds
Disclosure of financial assets [line items]
Financial assets at amortized cost	1,868,776	1,828,704
Expected credit losses	2,497	1,087
Rural product note
Disclosure of financial assets [line items]
Financial assets at amortized cost	328,638	0
Debentures
Disclosure of financial assets [line items]
Financial assets at amortized cost	41,393	0
Gross carrying amount
Disclosure of financial assets [line items]
Financial assets at amortized cost	2,241,304	1,829,791
Gross carrying amount | Bonds
Disclosure of financial assets [line items]
Financial assets at amortized cost	1,871,273	1,829,791
Gross carrying amount | Rural product note
Disclosure of financial assets [line items]
Financial assets at amortized cost	328,638	0
Gross carrying amount | Debentures
Disclosure of financial assets [line items]
Financial assets at amortized cost	R$ 41393	R$ 0

Securities - Summary of Secur_4

Securities - Summary of Securities on the Financial Liabilities Classified at Fair Value Through Profit or Loss (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	May 06, 2021	Dec. 31, 2020
Disclosure of financial assets [line items]
Financial liabilities	R$ 91358151		R$ 70600989
Debentures issued	169,094		335,250
XP Investimentos Non-Convertible Debentures | Debentures
Disclosure of financial assets [line items]
Debentures issued		R$ 500018
Gross carrying amount | Debentures
Disclosure of financial assets [line items]
Financial liabilities, at fair value	536,881
Gross carrying amount | Financial liabilities at fair value through profit or loss | Securities loaned
Disclosure of financial assets [line items]
Financial liabilities	2,146,398		2,237,442
Gross carrying amount | Financial liabilities at fair value through profit or loss | Debentures
Disclosure of financial assets [line items]
Financial liabilities	536,881		0
Fair value
Disclosure of financial assets [line items]
Financial liabilities	2,665,202		2,237,442
Fair value | Debentures
Disclosure of financial assets [line items]
Financial liabilities, at fair value	518,804
Fair value | Financial liabilities at fair value through profit or loss | Securities loaned
Disclosure of financial assets [line items]
Financial liabilities, at fair value	2,146,398		2,237,442
Fair value | Financial liabilities at fair value through profit or loss | Debentures
Disclosure of financial assets [line items]
Financial liabilities, at fair value	518,804		R$ 0
Fair value/(under) contractual principal outstanding | Debentures
Disclosure of financial assets [line items]
Financial liabilities, at fair value	R$ 18077

Securities - Summary of Secur_5

Securities - Summary of Securities Classified by Maturity (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Financial assets	R$ 127745263	R$ 90190827
Financial liabilities	91,358,151	70,600,989
At fair value through PL and at OCI
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	2,146,398	2,237,442
Non-current financial liabilities	518,804	0
Evaluated at amortized cost
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	0	0
Non-current financial liabilities	0	0
Non-stated maturity | At fair value through PL and at OCI
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	2,146,398	2,237,442
Up to 3 months | At fair value through PL and at OCI
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	0	0
Up to 3 months | Evaluated at amortized cost
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	0	0
From 3 to 12 months
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	9,707,072	5,031,715
From 3 to 12 months | At fair value through PL and at OCI
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	0	0
From 3 to 12 months | Evaluated at amortized cost
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	0	0
After one year | At fair value through PL and at OCI
Disclosure of detailed information about financial instruments [line items]
Non-current financial liabilities	518,804	0
After one year | Evaluated at amortized cost
Disclosure of detailed information about financial instruments [line items]
Non-current financial liabilities	0	0
At fair value through PL and at OCI
Disclosure of detailed information about financial instruments [line items]
Current financial assets	47,431,624	34,572,107
Non-current financial assets	43,088,235	34,065,805
At fair value through PL and at OCI | Non-stated maturity
Disclosure of detailed information about financial instruments [line items]
Current financial assets	31,425,792	15,246,105
At fair value through PL and at OCI | Up to 3 months
Disclosure of detailed information about financial instruments [line items]
Current financial assets	4,556,261	794,025
At fair value through PL and at OCI | From 3 to 12 months
Disclosure of detailed information about financial instruments [line items]
Current financial assets	11,449,571	18,531,977
At fair value through PL and at OCI | After one year
Disclosure of detailed information about financial instruments [line items]
Non-current financial assets	43,088,235	34,065,805
Evaluated at amortized cost
Disclosure of detailed information about financial instruments [line items]
Current financial assets	1,891,889	1,829,791
Non-current financial assets	349,415	0
Evaluated at amortized cost | Up to 3 months
Disclosure of detailed information about financial instruments [line items]
Current financial assets	1,698,760	1,623,487
Evaluated at amortized cost | From 3 to 12 months
Disclosure of detailed information about financial instruments [line items]
Current financial assets	193,129	206,304
Evaluated at amortized cost | After one year
Disclosure of detailed information about financial instruments [line items]
Non-current financial assets	349,415	0
Fair value
Disclosure of detailed information about financial instruments [line items]
Financial assets	92,761,163	70,467,703
Financial liabilities	R$ 2665202	R$ 2237442

Derivative financial instrume_3

Derivative financial instruments - Summary of positions with derivative financial instruments (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	R$ 10943714	R$ 7559433
Assets, notional amount	547,269,601	733,048,921
Liabilities, fair value	11,908,183	7,819,364
Liabilities, notional amount	451,909,618	668,901,580
Options
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	6,570,325	6,298,358
Assets, notional amount	371,849,357	681,464,674
Liabilities, fair value	8,112,055	6,735,478
Liabilities, notional amount	311,295,196	614,741,256
Swaps
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	2,577,311	777,816
Assets, notional amount	75,380,631	5,578,227
Liabilities, fair value	2,561,327	870,393
Liabilities, notional amount	82,520,691	6,143,671
Forward contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	1,601,167	456,724
Assets, notional amount	88,107,328	2,905,411
Liabilities, fair value	1,057,426	200,272
Liabilities, notional amount	44,968,097	3,035,011
Futures contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	194,911	26,535
Assets, notional amount	11,932,285	43,100,609
Liabilities, fair value	157,710	13,221
Liabilities, notional amount	13,041,450	R$ 44981642
Others
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	19,665
Liabilities, notional amount	R$ 84184

Derivative financial instrume_4

Derivative financial instruments - Summary of derivative financial instruments portfolio (assets and liabilities) by type of instrument (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	R$ 10943714	R$ 7559433
Percentage of derivative financial assets	100.00%	100.00%
Liabilities, fair value	R$ 11908183	R$ 7819364
Percentage of derivative financial liabilities	100.00%	100.00%
Options
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	R$ 8112055	R$ 6735478
Percentage of derivative financial liabilities	69.00%	87.00%
Forward contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	R$ 1057426	R$ 200272
Percentage of derivative financial liabilities	18.00%	2.00%
Future contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	R$ 157710	R$ 13221
Percentage of derivative financial liabilities	10.00%	1.00%
Swap contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	R$ 2561327	R$ 870393
Percentage of derivative financial liabilities	3.00%	10.00%
Others
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	R$ 19665
Percentage of derivative financial liabilities	0.00%
Swap contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	R$ 2577311	R$ 777816
Percentage of derivative financial assets	14.00%	10.00%
Liabilities, fair value	R$ 2561327	R$ 870393
Forward contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	R$ 1601167	R$ 456724
Percentage of derivative financial assets	16.00%	6.00%
Liabilities, fair value	R$ 1057426	R$ 200272
Future contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	R$ 194911	R$ 26535
Percentage of derivative financial assets	2.00%	1.00%
Liabilities, fair value	R$ 157710	R$ 13221
Options
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	R$ 6570325	R$ 6298358
Percentage of derivative financial assets	68.00%	83.00%
Liabilities, fair value	R$ 8112055	R$ 6735478
Up to 3 months
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	1,974,487	2,619,700
Liabilities, fair value	2,137,913	2,386,360
Up to 3 months | Options
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	1,941,553	2,152,890
Up to 3 months | Forward contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	62,935	133,679
Up to 3 months | Future contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	6	542
Up to 3 months | Swap contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	113,754	99,249
Up to 3 months | Others
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	19,665
Up to 3 months | Swap contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	73,016	35,241
Up to 3 months | Forward contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	404,764	230,862
Up to 3 months | Future contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	21,891	26,535
Up to 3 months | Options
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	1,474,816	2,327,062
From 4 to 12 months
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	2,760,558	2,759,530
Liabilities, fair value	2,250,942	2,643,065
From 4 to 12 months | Options
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	1,937,725	2,378,689
From 4 to 12 months | Forward contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	68,398	49,102
From 4 to 12 months | Future contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	4,814	1,742
From 4 to 12 months | Swap contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	240,005	213,532
From 4 to 12 months | Others
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	0
From 4 to 12 months | Swap contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	259,300	206,921
From 4 to 12 months | Forward contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	216,895	201,324
From 4 to 12 months | Future contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	3,275	0
From 4 to 12 months | Options
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	2,281,088	2,351,285
Above 12 months
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	6,208,669	2,180,203
Liabilities, fair value	7,519,328	2,789,939
Above 12 months | Options
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	4,232,777	2,203,899
Above 12 months | Forward contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	926,093	17,491
Above 12 months | Future contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	152,890	10,937
Above 12 months | Swap contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	2,207,568	557,612
Above 12 months | Others
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	0
Above 12 months | Swap contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	2,244,995	535,654
Above 12 months | Forward contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	979,508	24,538
Above 12 months | Future contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	169,745	0
Above 12 months | Options
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	R$ 2814421	R$ 1620011

Derivative financial instrume_5

Derivative financial instruments - Summary of derivative financial instruments by index (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	R$ 547269601	R$ 733048921
Assets, fair value	10,943,714	7,559,433
Liabilities, notional amount	451,909,618	668,901,580
Liabilities, fair value	(11,908,183)	(7,819,364)
Net, fair value	(964,469)	(259,931)
Swap Contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	(2,561,327)	(870,393)
Swap Contracts | Interest
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	75,207,636	6,143,671
Liabilities, fair value	(2,461,848)	(870,393)
Swap Contracts | Foreign exchange
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	5,888,850	0
Liabilities, fair value	(28,509)	0
Swap Contracts | Share
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	1,424,205	0
Liabilities, fair value	(70,970)	0
Forward Contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	(1,057,426)	(200,272)
Forward Contracts | Interest
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	906,302	32,944
Liabilities, fair value	(906,302)	(32,944)
Forward Contracts | Foreign exchange
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	42,367,576	3,002,067
Liabilities, fair value	(139,642)	(167,328)
Forward Contracts | Share
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	11,482	0
Liabilities, fair value	(11,482)	0
Forward Contracts | Commodities
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	1,682,737	0
Liabilities, fair value	0	0
Others | Interest
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	84,184	0
Liabilities, fair value	(19,665)	0
Swap Contracts
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	75,380,631	5,578,227
Assets, fair value	2,577,311	777,816
Liabilities, notional amount	82,520,691	6,143,671
Liabilities, fair value	(2,561,327)	(870,393)
Swap Contracts | Interest
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	66,123,491	5,014,934
Assets, fair value	1,799,953	776,215
Swap Contracts | Foreign exchange
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	1,978,886	563,293
Assets, fair value	16,013	1,601
Swap Contracts | Share
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	7,278,254	0
Assets, fair value	761,345	0
Forward Contracts
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	88,107,328	2,905,411
Assets, fair value	1,601,167	456,724
Liabilities, notional amount	44,968,097	3,035,011
Liabilities, fair value	(1,057,426)	(200,272)
Forward Contracts | Interest
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	906,295	32,952
Assets, fair value	906,295	32,952
Forward Contracts | Foreign exchange
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	81,544,253	2,546,940
Assets, fair value	282,775	98,253
Forward Contracts | Share
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	4,603,031	325,519
Assets, fair value	412,097	325,519
Forward Contracts | Commodities
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	1,053,749	0
Assets, fair value	0	0
Future Contracts
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	11,932,285	43,100,609
Assets, fair value	194,911	26,535
Liabilities, notional amount	13,041,450	44,981,642
Liabilities, fair value	(157,710)	(13,221)
Future Contracts | Interest | Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	11,629,715	43,100,609
Assets, fair value	0	26,535
Future Contracts | Interest | Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	12,188,922	44,981,642
Assets, fair value	(157,710)	(13,221)
Future Contracts | Foreign exchange | Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	155,487	0
Assets, fair value	194,911	0
Future Contracts | Foreign exchange | Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	705,334	0
Assets, fair value	0	0
Future Contracts | Share | Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	147,083	0
Assets, fair value	0	0
Future Contracts | Share | Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	147,083	0
Assets, fair value	0	0
Future Contracts | Commodities | Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	111	0
Assets, fair value	0	0
Options
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	371,849,357	681,464,674
Assets, fair value	6,570,325	6,298,358
Liabilities, notional amount	311,295,196	614,741,256
Liabilities, fair value	(8,112,055)	(6,735,478)
Options | Interest | Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	272,987,997	675,637,469
Assets, fair value	1,160,526	5,223,851
Options | Interest | Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	272,383,162	605,512,143
Assets, fair value	(2,129,996)	(5,789,650)
Options | Foreign exchange | Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	25,973,934	0
Assets, fair value	2,248,675	0
Options | Foreign exchange | Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	24,541,428	0
Assets, fair value	(3,080,095)	0
Options | Share | Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	72,883,420	5,827,205
Assets, fair value	3,146,174	1,074,507
Options | Share | Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	13,690,202	9,229,113
Assets, fair value	(2,788,089)	(945,828)
Options | Commodities | Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	4,006	0
Assets, fair value	14,950	0
Options | Commodities | Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	680,404	0
Assets, fair value	R$ 113875	R$ 0

Hedge accounting - Summary of d

Hedge accounting - Summary of detailed information about hedging instruments (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about hedged items [line items]
Notional value	R$ 9738021	R$ 2537950	R$ 248896
Variation in the amounts used to calculate hedge ineffectiveness	(18,758)	(60,563)	(7,133)
Hedge of net investment in foreign operations
Disclosure of detailed information about hedged items [line items]
Assets	310,069	245,986	186,412
Liabilities	0	0	0
Variation in value recognized in Other comprehensive income	19,474	52,299	5,946
Notional value	440,022	349,218	248,896
Variation in the amounts used to calculate hedge ineffectiveness	(18,758)	(60,563)	(7,133)
Fair value hedge
Disclosure of detailed information about hedged items [line items]
Assets	0	0
Liabilities	9,264,330	2,178,459
Variation in value recognized in income	506,190	(47,923)
Notional value	9,297,999	2,188,732	0
Variation in the amounts used to calculate hedge ineffectiveness	(495,191)	46,795
Foreign exchange risk | Hedge of net investment in foreign operations
Disclosure of detailed information about hedged items [line items]
Assets	310,069	245,986	186,412
Liabilities	0	0	0
Variation in value recognized in Other comprehensive income	19,474	52,299	5,946
Notional value	440,022	349,218	248,896
Variation in the amounts used to calculate hedge ineffectiveness	(18,758)	349,218	R$ 7133
Foreign exchange risk | Fair value hedge | Futures contracts
Disclosure of detailed information about hedged items [line items]
Assets	310,069
Liabilities	433,987
Notional value	876,826
Variation in the amounts used to calculate hedge ineffectiveness	(22,300)
Hedge ineffectiveness recognized in income	720
Interest rate and foreign exchange risk | Fair value hedge | Hedge of securities
Disclosure of detailed information about hedged items [line items]
Assets	0	0
Liabilities	9,264,330	2,178,459
Variation in value recognized in income	506,190	(47,923)
Notional value	9,297,999	2,188,732
Variation in the amounts used to calculate hedge ineffectiveness	(495,191)	46,795
Interest rate risk | Fair value hedge | Futures contracts
Disclosure of detailed information about hedged items [line items]
Assets	0	0
Liabilities	8,830,343	2,178,459
Notional value	8,861,195	2,188,732
Variation in the amounts used to calculate hedge ineffectiveness	(491,649)	46,795
Hedge ineffectiveness recognized in income	R$ 10995	R$ 1128

Hedge accounting - Hedged item

Hedge accounting - Hedged item information (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about hedged items [line items]
Notional amount	R$ 9738021	R$ 2537950	R$ 248896
Fair value adjustments	(513,949)	(108,486)	5,946
Book value	525,664	99,094	(7,133)
Hedge of Fair Value
Disclosure of detailed information about hedged items [line items]
Notional amount	9,297,999	2,188,732	0
Fair value adjustments	(495,191)	(47,923)	0
Book value	506,190	46,795	0
Hedge of net investment in foreign operations
Disclosure of detailed information about hedged items [line items]
Notional amount	440,022	349,218	248,896
Fair value adjustments	(18,758)	(60,563)	5,946
Book value	R$ 19474	R$ 52299	R$ 7133

Hedge accounting - Hedged ite_2

Hedge accounting - Hedged item maturity (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about hedged items [line items]
Notional value	R$ 9738021	R$ 2537950	R$ 248896
0-1 year
Disclosure of detailed information about hedged items [line items]
Notional value	520,853	1,977	7,658
1-2 years
Disclosure of detailed information about hedged items [line items]
Notional value	276,219	13,375	0
2-3 years
Disclosure of detailed information about hedged items [line items]
Notional value	478,745	240,646	0
3-4 years
Disclosure of detailed information about hedged items [line items]
Notional value	1,028,004	247,514	91,698
4-5 years
Disclosure of detailed information about hedged items [line items]
Notional value	4,510,125	672,978	149,540
5-10 years
Disclosure of detailed information about hedged items [line items]
Notional value	2,924,075	1,361,460	0
Hedge of Fair Value
Disclosure of detailed information about hedged items [line items]
Notional value	9,297,999	2,188,732	0
Hedge of Fair Value | 0-1 year
Disclosure of detailed information about hedged items [line items]
Notional value	136,636	1,977
Hedge of Fair Value | 1-2 years
Disclosure of detailed information about hedged items [line items]
Notional value	276,219	13,375
Hedge of Fair Value | 2-3 years
Disclosure of detailed information about hedged items [line items]
Notional value	478,745	94,099
Hedge of Fair Value | 3-4 years
Disclosure of detailed information about hedged items [line items]
Notional value	972,199	44,843
Hedge of Fair Value | 4-5 years
Disclosure of detailed information about hedged items [line items]
Notional value	4,510,125	672,978
Hedge of Fair Value | 5-10 years
Disclosure of detailed information about hedged items [line items]
Notional value	2,924,075	1,361,460
Hedge of net investment in foreign operations
Disclosure of detailed information about hedged items [line items]
Notional value	440,022	349,218	248,896
Hedge of net investment in foreign operations | 0-1 year
Disclosure of detailed information about hedged items [line items]
Notional value	384,217	0	7,658
Hedge of net investment in foreign operations | 1-2 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	0	0
Hedge of net investment in foreign operations | 2-3 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	146,547	0
Hedge of net investment in foreign operations | 3-4 years
Disclosure of detailed information about hedged items [line items]
Notional value	55,805	202,671	91,698
Hedge of net investment in foreign operations | 4-5 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	0	149,540
Hedge of net investment in foreign operations | 5-10 years
Disclosure of detailed information about hedged items [line items]
Notional value	R$ 0	R$ 0	R$ 0

Loan operations - Loan operatio

Loan operations - Loan operations by type (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets [line items]
Financial assets	R$ 127745263	R$ 90190827
Expected Credit Loss	(175,188)	(82,628)
Total loans operations, net of Expected Loss	12,819,627	3,918,328
Loans operations
Disclosure of financial assets [line items]
Financial assets	12,844,037	3,925,429
Expected Credit Loss	(24,410)	(7,101)
Pledged asset loan | Retail
Disclosure of financial assets [line items]
Financial assets	7,296,172	2,698,018
Pledged asset loan | Corporate
Disclosure of financial assets [line items]
Financial assets	1,887,649	946,008
Pledged asset loan | Credit card
Disclosure of financial assets [line items]
Financial assets	2,605,598	51,270
Non-pledged loan | Retail
Disclosure of financial assets [line items]
Financial assets	117,032	116,978
Non-pledged loan | Corporate
Disclosure of financial assets [line items]
Financial assets	R$ 937586	R$ 113155

Loan operations - Loan operat_2

Loan operations - Loan operations by maturity (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets [line items]
Financial assets	R$ 127745263	R$ 90190827
Loans operations
Disclosure of financial assets [line items]
Financial assets	12,844,037	3,925,429
Loans operations | Due in 3 months or less
Disclosure of financial assets [line items]
Financial assets	2,539,387	160,918
Loans operations | Due after 3 months through 12 months
Disclosure of financial assets [line items]
Financial assets	2,081,563	580,183
Loans operations | Due after 12 months
Disclosure of financial assets [line items]
Financial assets	R$ 8223087	R$ 3184328

Loan operations - Loan operat_3

Loan operations - Loan operations by concentration (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets [line items]
Financial assets	R$ 127745263	R$ 90190827
Loans operations
Disclosure of financial assets [line items]
Financial assets	12,844,037	3,925,429
Loans operations | Largest debtor | Credit risk
Disclosure of financial assets [line items]
Financial assets	227,229	150,040
Loans operations | 10 largest debtors | Credit risk
Disclosure of financial assets [line items]
Financial assets	1,162,802	726,904
Loans operations | 20 largest debtors | Credit risk
Disclosure of financial assets [line items]
Financial assets	1,721,591	1,043,583
Loans operations | 50 largest debtors | Credit risk
Disclosure of financial assets [line items]
Financial assets	2,793,814	1,521,310
Loans operations | 100 largest debtors | Credit risk
Disclosure of financial assets [line items]
Financial assets	R$ 3899644	R$ 1885614

Loan operations - Additional in

Loan operations - Additional information (Details) R$ in Thousands	Dec. 31, 2020BRL (R$)
Disclosure of financial assets [abstract]
Carrying amount of financial assets with insignificant risk of loss	R$ 297443

Accounts receivable (Details)

Accounts receivable (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Trade and other receivables [abstract]
Customers	R$ 419532	R$ 455253
Dividends and interest receivable on equity capital - Funds	3,593	6,393
Other	52,492	51,131
Expected credit losses on accounts receivable (Note 14)	(6,531)	(6,418)
Total	R$ 469086	R$ 506359

Recoverable taxes (Details)

Recoverable taxes (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	R$ 153316	R$ 127623
Current	153,316	127,623
Non-current	0	0
Prepayments of income taxes (IRPJ and CSLL)
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	146,636	122,070
Contributions over revenue (PIS and COFINS)
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	5,654	3,993
Other recoverable taxes
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	1,026	1,560
ISS
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	1,002	979
VAT
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	0	581
INSS
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	R$ 24	R$ 0

Prepaid expenses (Details)

Prepaid expenses (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Summary of Prepaid Expenses [Line Items]
Prepaid expenses	R$ 3982750	R$ 1393537
Current	251,973	283,183
Non-current	3,730,777	1,110,354
Commissions and premiums paid in advance
Summary of Prepaid Expenses [Line Items]
Prepaid expenses	3,737,354	1,314,771
Marketing expenses
Summary of Prepaid Expenses [Line Items]
Prepaid expenses	28,147	28,056
Services paid in advance
Summary of Prepaid Expenses [Line Items]
Prepaid expenses	41,990	6,245
Other expenses paid in advance
Summary of Prepaid Expenses [Line Items]
Prepaid expenses	R$ 175259	R$ 44465

Expected Credit Losses on Fin_3

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	R$ 90190827
Financial assets at end of period	127,745,263	R$ 90190827
Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	31,105,277	14,373,179
Acquisition / (Settlements)	26,320,585	16,732,098
Stage 1 to Stage 2	(727,100)	0
Stage 1 to Stage 3	(3,499)	0
Stage 2 to Stage 1	244,580	0
Stage 3 To Stage 1	0	0
Financial assets at end of period	56,939,843	31,105,277
Stage 2
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	361,431	0
Acquisition / (Settlements)	(97,549)	361,431
Stage 1 to Stage 2	727,100	0
Stage 2 to Stage 1	(244,580)	0
Stage 2 to Stage 3	0	0
Stage 3 to Stage 2	0	0
Financial assets at end of period	746,402	361,431
Stage 3
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	0
Acquisition / (Settlements)	0
Stage 1 to Stage 3	3,499
Stage 2 to Stage 3	0
Stage 3 To Stage 1	0
Stage 3 to Stage 2	0
Financial assets at end of period	3,499	0
Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	31,466,708	14,373,179
Derecognition	0	0
Acquisition / (Settlements)	26,223,036	17,057,719
Financial assets at end of period	57,689,744	31,466,708
Financial assets at fair value through other comprehensive income | Securities | Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	19,047,899	2,616,118
Acquisition / (Settlements)	13,292,005	16,431,781
Stage 1 to Stage 2	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 To Stage 1	0	0
Financial assets at end of period	32,339,904	19,047,899
Financial assets at fair value through other comprehensive income | Securities | Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	19,047,899	2,616,118
Derecognition	0	0
Acquisition / (Settlements)	13,292,005	16,431,781
Financial assets at end of period	32,339,904	19,047,899
Evaluated at amortized cost | Securities | Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	1,829,791	2,266,971
Acquisition / (Settlements)	411,513	(437,180)
Stage 1 to Stage 2	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 To Stage 1	0	0
Financial assets at end of period	2,241,304	1,829,791
Evaluated at amortized cost | Securities | Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	1,829,791	2,266,971
Derecognition	0	0
Acquisition / (Settlements)	411,513	(437,180)
Financial assets at end of period	2,241,304	1,829,791
Evaluated at amortized cost | Securities purchased under agreements to resell | Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	6,627,779	9,490,090
Acquisition / (Settlements)	2,269,321	(2,862,311)
Stage 1 to Stage 2	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 To Stage 1	0	0
Financial assets at end of period	8,897,100	6,627,779
Evaluated at amortized cost | Securities purchased under agreements to resell | Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	6,627,779	9,490,090
Derecognition	0	0
Acquisition / (Settlements)	2,269,321	(2,862,311)
Financial assets at end of period	8,897,100	6,627,779
Evaluated at amortized cost | Loans and credit card operations | Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	3,599,808	0
Acquisition / (Settlements)	9,013,279	3,599,808
Stage 1 to Stage 2	(667,692)	0
Stage 1 to Stage 3	(3,494)	0
Stage 2 to Stage 1	211,648	0
Stage 3 To Stage 1	0	0
Financial assets at end of period	12,153,549	3,599,808
Evaluated at amortized cost | Loans and credit card operations | Stage 2
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	325,621	0
Acquisition / (Settlements)	(94,671)	325,621
Stage 1 to Stage 2	667,692	0
Stage 2 to Stage 1	(211,648)	0
Stage 2 to Stage 3	0	0
Stage 3 to Stage 2	0	0
Financial assets at end of period	686,994	325,621
Evaluated at amortized cost | Loans and credit card operations | Stage 3
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	0
Acquisition / (Settlements)	0
Stage 1 to Stage 3	3,494
Stage 2 to Stage 3	0
Stage 3 To Stage 1	0
Stage 3 to Stage 2	0
Financial assets at end of period	3,494	0
Evaluated at amortized cost | Loans and credit card operations | Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	3,925,429	0
Derecognition	0	0
Acquisition / (Settlements)	8,918,608	3,925,429
Financial assets at end of period	12,844,037	3,925,429
On-balance exposures | Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	31,105,277	14,373,179
Acquisition / (Settlements)	24,986,118	16,732,098
Stage 1 to Stage 2	(667,692)	0
Stage 1 to Stage 3	(3,494)	0
Stage 2 to Stage 1	211,648	0
Stage 3 To Stage 1	0	0
Financial assets at end of period	55,631,857	31,105,277
On-balance exposures | Stage 2
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	325,621	0
Acquisition / (Settlements)	(94,671)	325,621
Stage 1 to Stage 2	667,692	0
Stage 2 to Stage 1	(211,648)	0
Stage 2 to Stage 3	0	0
Stage 3 to Stage 2	0	0
Financial assets at end of period	686,994	325,621
On-balance exposures | Stage 3
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	0
Acquisition / (Settlements)	0
Stage 1 to Stage 3	3,494
Stage 2 to Stage 3	0
Stage 3 To Stage 1	0
Stage 3 to Stage 2	0
Financial assets at end of period	3,494	0
On-balance exposures | Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	31,430,898	14,373,179
Derecognition	0	0
Acquisition / (Settlements)	24,891,447	17,057,719
Financial assets at end of period	56,322,345	31,430,898
Off-balance exposures | Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	0
Acquisition / (Settlements)	1,334,467
Stage 1 to Stage 2	(59,408)
Stage 1 to Stage 3	(5)
Stage 2 to Stage 1	32,932
Stage 3 To Stage 1	0
Financial assets at end of period	1,307,986	0
Off-balance exposures | Stage 2
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	35,810	0
Acquisition / (Settlements)	(2,878)	35,810
Stage 1 to Stage 2	59,408
Stage 2 to Stage 1	(32,932)
Stage 2 to Stage 3	0
Stage 3 to Stage 2	0
Financial assets at end of period	59,408	35,810
Off-balance exposures | Stage 3
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	0
Acquisition / (Settlements)	0
Stage 1 to Stage 3	5
Stage 2 to Stage 3	0
Stage 3 To Stage 1	0
Stage 3 to Stage 2	0
Financial assets at end of period	5	0
Off-balance exposures | Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	35,810	0
Derecognition	0	0
Acquisition / (Settlements)	1,331,589	0
Financial assets at end of period	R$ 1367399	R$ 35810

Expected Credit Losses on Fin_4

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount - ECLs measured using simplified approach (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	R$ 127745263	R$ 90190827
Evaluated at amortized cost | Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	2,474,437	1,693,294
Evaluated at amortized cost | Securities trading and intermediation | Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	1,487,639	1,107,051
Evaluated at amortized cost | Accounts Receivable | Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	475,617	512,777
Evaluated at amortized cost | Others | Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	R$ 511181	R$ 73466

Expected Credit Losses on Fin_5

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount - Expected credit losses (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	R$ 82628
Expected credit loss, ending balance	175,188	R$ 82628
Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	15,960	2
Increase / (Reversal)	20,502	15,958
Stage 1 to Stage 2	(7,214)	0
Stage 1 to Stage 3	(2,197)	0
Stage 2 to Stage 1	225	0
Stage 3 to Stage 1	0	0
Expected credit loss, ending balance	27,276	15,960
Stage 2
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	1,453	0
Increase / (Reversal)	(912)	1,453
Stage 1 to Stage 2	7,214	0
Stage 2 to Stage 1	(225)	0
Stage 2 to Stage 3	0	0
Stage 3 to Stage 2	0	0
Expected credit loss, ending balance	7,530	1,453
Stage 3
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	0
Increase / (Reversal)	0
Stage 1 to Stage 3	2,197
Stage 2 to Stage 3	0
Stage 3 to Stage 1	0
Stage 3 to Stage 2	0
Expected credit loss, ending balance	2,197	0
Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	17,413	2
Derecognition	0	0
Increase / (Reversal)	19,590	17,411
Expected credit loss, ending balance	37,003	17,413
Financial assets at fair value through other comprehensive income
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	8,855
Expected credit loss, ending balance	7,527	8,855
Financial assets at fair value through other comprehensive income | Securities
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	8,855
Expected credit loss, ending balance	7,527	8,855
Financial assets at fair value through other comprehensive income | Securities | Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	8,855	0
Increase / (Reversal)	(1,328)	8,855
Stage 1 to Stage 2	0	0
Stage 1 to Stage 3		0
Stage 2 to Stage 1	0	0
Stage 3 to Stage 1	0	0
Expected credit loss, ending balance	7,527	8,855
Financial assets at fair value through other comprehensive income | Securities | Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	8,855	0
Derecognition	0	0
Increase / (Reversal)	(1,328)	8,855
Expected credit loss, ending balance	7,527	8,855
Evaluated at amortized cost
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	73,773
Expected credit loss, ending balance	166,647	73,773
Evaluated at amortized cost | Securities
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	1,087
Expected credit loss, ending balance	2,497	1,087
Evaluated at amortized cost | Securities | Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	1,087	0
Increase / (Reversal)	1,410	1,087
Stage 1 to Stage 2	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 to Stage 1	0	0
Expected credit loss, ending balance	2,497	1,087
Evaluated at amortized cost | Securities | Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	1,087	0
Derecognition	0	0
Increase / (Reversal)	1,410	1,087
Expected credit loss, ending balance	2,497	1,087
Evaluated at amortized cost | Securities purchased under agreements to resell
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	370
Expected credit loss, ending balance	2,569	370
Evaluated at amortized cost | Securities purchased under agreements to resell | Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	370	0
Increase / (Reversal)	2,199	370
Stage 1 to Stage 2	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 to Stage 1	0	0
Expected credit loss, ending balance	2,569	370
Evaluated at amortized cost | Securities purchased under agreements to resell | Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	370	0
Derecognition	0	0
Increase / (Reversal)	2,199	370
Expected credit loss, ending balance	2,569	370
Evaluated at amortized cost | Loans and credit card operations
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	7,101
Expected credit loss, ending balance	23,396	7,101
Evaluated at amortized cost | Loans and credit card operations | Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	5,648	2
Increase / (Reversal)	17,207	5,646
Stage 1 to Stage 2	(6,926)	0
Stage 1 to Stage 3	(2,197)	0
Stage 2 to Stage 1	225	0
Stage 3 to Stage 1	0	0
Expected credit loss, ending balance	13,957	5,648
Evaluated at amortized cost | Loans and credit card operations | Stage 2
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	1,453	0
Increase / (Reversal)	(912)	1,453
Stage 1 to Stage 2	6,926	0
Stage 2 to Stage 1	(225)	0
Stage 2 to Stage 3	0	0
Stage 3 to Stage 2	0	0
Expected credit loss, ending balance	7,242	1,453
Evaluated at amortized cost | Loans and credit card operations | Stage 3
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	0
Increase / (Reversal)	0
Stage 1 to Stage 3	2,197
Stage 2 to Stage 3	0
Stage 3 to Stage 1	0
Stage 3 to Stage 2	0
Expected credit loss, ending balance	2,197	0
Evaluated at amortized cost | Loans and credit card operations | Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	7,101	2
Derecognition	0	0
Increase / (Reversal)	16,295	7,099
Expected credit loss, ending balance	23,396	7,101
On-balance exposures
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	82,628
Expected credit loss, ending balance	174,174	82,628
On-balance exposures | Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	15,960	2
Increase / (Reversal)	19,488	15,958
Stage 1 to Stage 2	(6,926)	0
Stage 1 to Stage 3	(2,197)	0
Stage 2 to Stage 1	225	0
Stage 3 to Stage 1	0	0
Expected credit loss, ending balance	26,550	15,960
On-balance exposures | Stage 2
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	1,453	0
Increase / (Reversal)	(912)	1,453
Stage 1 to Stage 2	6,926	0
Stage 2 to Stage 1	(225)	0
Stage 2 to Stage 3	0	0
Stage 3 to Stage 2	0	0
Expected credit loss, ending balance	7,242	1,453
On-balance exposures | Stage 3
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	0
Increase / (Reversal)	0
Stage 1 to Stage 3	2,197
Stage 2 to Stage 3	0
Stage 3 to Stage 1	0
Stage 3 to Stage 2	0
Expected credit loss, ending balance	2,197	0
On-balance exposures | Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	17,413	2
Derecognition	0	0
Increase / (Reversal)	18,576	17,411
Expected credit loss, ending balance	35,989	17,413
Off-balance exposures
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	0
Expected credit loss, ending balance	1,014	0
Off-balance exposures | Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	0
Increase / (Reversal)	1,014
Stage 1 to Stage 2	(288)
Stage 1 to Stage 3	0
Stage 2 to Stage 1	0
Stage 3 to Stage 1	0
Expected credit loss, ending balance	726	0
Off-balance exposures | Stage 2
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	0
Increase / (Reversal)	0
Stage 1 to Stage 2	288
Stage 2 to Stage 1	0
Stage 2 to Stage 3	0
Stage 3 to Stage 2	0
Expected credit loss, ending balance	288	0
Off-balance exposures | Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	0
Derecognition	0
Increase / (Reversal)	1,014
Expected credit loss, ending balance	R$ 1014	R$ 0

Expected Credit Losses on Fin_6

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount - Expected credit loss using simplified method (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	R$ 175188	R$ 82628
Evaluated at amortized cost
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	166,647	73,773
Evaluated at amortized cost | Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	138,185	65,215
Evaluated at amortized cost | Securities trading and intermediation
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	81,988	55,485
Evaluated at amortized cost | Securities trading and intermediation | Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	81,988	55,485
Evaluated at amortized cost | Accounts Receivable
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	6,531	6,418
Evaluated at amortized cost | Accounts Receivable | Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	6,531	6,418
Evaluated at amortized cost | Others
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	49,666	3,312
Evaluated at amortized cost | Others | Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	R$ 49666	R$ 3312

Expected Credit Losses on Fin_7

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount - Expected credit loss segregated by product (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	R$ 175188	R$ 82628
Financial assets at fair value through other comprehensive income
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	7,527	8,855
Financial assets at fair value through other comprehensive income | Securities
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	7,527	8,855
Evaluated at amortized cost
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	166,647	73,773
Evaluated at amortized cost | Securities
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	2,497	1,087
Evaluated at amortized cost | Securities purchased under agreements to resell
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	2,569	370
Evaluated at amortized cost | Loans and credit card operations
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	23,396	7,101
Evaluated at amortized cost | Securities trading and intermediation
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	81,988	55,485
Evaluated at amortized cost | Accounts Receivable
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	6,531	6,418
Evaluated at amortized cost | Others
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	49,666	3,312
On-balance exposures
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	174,174	82,628
Off-balance exposures
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	R$ 1014	R$ 0

Investments in associates and_3

Investments in associates and joint ventures (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity-accounted method
Balance at beginning of period	R$ 699907	R$ 0
Equity		77,428
Equity in earnings	(7,710)	862	R$ 0
Other comprehensive income		(39)
Goodwill		621,656
Balance at end of period	2,013,365	699,907	0
Measured at fair value
Balance at beginning of period	699,907	0
Balance at end of period	2,013,365	699,907	0
Balance at beginning of period	699,907	0
Equity	1,207,169
Equity in earnings	39,581
Other comprehensive income	(19,579)
Goodwill	86,287
Balance at end of period	R$ 2013365	R$ 699907	0
Du Agro Holdings S.A.
Disclosure of associates [line items]
Proportion of ownership interest in joint venture	49.00%	49.00%
Equity-accounted method
Balance at beginning of period	R$ 1983	R$ 0
Equity	0	2,335
Equity in earnings	(1,848)	(777)
Other comprehensive income	1,062	17
Goodwill	0	408
Balance at end of period	1,197	1,983	0
Measured at fair value
Balance at beginning of period	1,983	0
Balance at end of period	1,197	1,983	0
Balance at beginning of period	1,983	0
Balance at end of period	1,197	1,983	0
Wealth High Governance Holding De Participações S.A., O Primo Rico Mídia, Educacional e Participações Ltda. and NK112 Empreendimentos e Participações S.A.
Equity-accounted method
Balance at beginning of period	697,924	0
Equity	33,036	75,093
Equity in earnings	(5,862)	1,639
Other comprehensive income	(20,641)	(56)
Goodwill	86,287	621,248
Balance at end of period	790,744	697,924	0
Measured at fair value
Balance at beginning of period	697,924	0
Balance at end of period	790,744	697,924	0
Balance at beginning of period	697,924	0
Balance at end of period	R$ 790744	R$ 697924	R$ 0
Wealth High Governance Holding de Participações S.A.
Disclosure of associates [line items]
Proportion of ownership interest in associate	49.90%	49.90%
O Primo Rico Mídia, Educacional e Participações Ltda.
Disclosure of associates [line items]
Proportion of ownership interest in associate	29.30%	20.00%
NK112 Empreendimentos e Participações S.A.
Disclosure of associates [line items]
Proportion of ownership interest in associate	49.90%
XP FIP Managers
Equity-accounted method
Balance at beginning of period	R$ 0
Balance at end of period	1,221,424	R$ 0
Measured at fair value
Balance at beginning of period	0
Equity	1,174,133
Equity in earnings	47,291
Other comprehensive income	0
Goodwill	0
Balance at end of period	1,221,424	0
Balance at beginning of period	0
Balance at end of period	R$ 1221424	R$ 0

Property, equipment, intangib_3

Property, equipment, intangible assets and leases - Summary of property and equipment (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	R$ 204032	R$ 142464	R$ 99127
Additions	135,444	145,164	72,499
Write-offs	(2,300)	(51,497)	(8,463)
Transfers	5	(6,142)	0
Foreign Exchange	110
Depreciation in the year	(23,107)	(25,957)	(20,699)
Ending balance	313,964	204,032	142,464
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	245,121	192,763
Ending balance	375,803	245,121	192,763
Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(41,089)	(50,299)
Ending balance	(61,839)	(41,089)	(50,299)
Data processing system
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	33,882	34,447	28,771
Additions	37,469	15,457	15,039
Write-offs	(298)	(2,432)	(304)
Transfers	5	(2,411)	0
Foreign Exchange	31
Depreciation in the year	(13,096)	(11,179)	(9,059)
Ending balance	57,931	33,882	34,447
Data processing system | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	53,871	62,235
Ending balance	89,376	53,871	62,235
Data processing system | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(19,989)	(27,788)
Ending balance	(31,445)	(19,989)	(27,788)
Furniture and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	22,616	27,756	21,641
Additions	93	5,539	9,942
Write-offs	(728)	(6,191)	(2,047)
Transfers	(15)	516	2,409
Foreign Exchange	(245)
Depreciation in the year	(3,990)	(5,004)	(4,189)
Ending balance	18,221	22,616	27,756
Furniture and equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	32,592	38,086
Ending balance	31,813	32,592	38,086
Furniture and equipment | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(9,976)	(10,330)
Ending balance	(13,592)	(9,976)	(10,330)
Security systems
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,003	1,544	2,553
Additions	229	1,239	664
Write-offs	(170)	(535)	0
Transfers	15	(820)	0
Foreign Exchange	327
Depreciation in the year	(60)	(425)	(1,673)
Ending balance	690	1,003	1,544
Security systems | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,158	7,716
Ending balance	1,584	2,158	7,716
Security systems | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(1,155)	(6,172)
Ending balance	(894)	(1,155)	(6,172)
Facilities
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	44,921	78,717	46,162
Additions	4	2,650	22,315
Write-offs	(375)	(41,376)	(6,112)
Transfers	0	14,279	22,130
Foreign Exchange	(3)
Depreciation in the year	(5,353)	(9,349)	(5,778)
Ending balance	39,200	44,921	78,717
Facilities | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	54,890	84,726
Ending balance	54,535	54,890	84,726
Facilities | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(9,969)	(6,009)
Ending balance	(15,335)	(9,969)	(6,009)
Fixed assets in progress
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	101,610	0	0
Additions	63,250	120,279	24,539
Write-offs	(729)	(963)	0
Transfers	0	(17,706)	(24,539)
Foreign Exchange	0
Depreciation in the year	(35)	0	0
Ending balance	164,096	101,610	0
Fixed assets in progress | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	101,610	0
Ending balance	164,096	101,610	0
Fixed assets in progress | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0
Ending balance	0	0	0
Vehicle
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0	0
Additions	34,399	0	0
Write-offs	0	0	0
Transfers	0	0	0
Foreign Exchange	0
Depreciation in the year	(573)	0	0
Ending balance	33,826	0	0
Vehicle | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0
Ending balance	34,399	0	0
Vehicle | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0
Ending balance	R$ 573	R$ 0	R$ 0

Property, equipment, intangib_4

Property, equipment, intangible assets and leases - Summary of intangible assets (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	R$ 713562	R$ 553452	R$ 504915
Additions	217,569	146,368	88,949
Business combinations	70,598	105,504
Write-offs	(17,211)	(22,064)	(2,782)
Transfers	(5)	6,142
Foreign Exchange	(426)
Amortization in the year	(163,112)	(75,840)	(37,630)
Ending balance	820,975	713,562	553,452
Software
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	115,153	66,310	38,771
Additions	146,761	117,129	51,348
Business combinations	1,734	8,143
Write-offs	(13,536)	(22,064)	(2,283)
Transfers	51,994	2,857
Foreign Exchange	(971)
Amortization in the year	(148,803)	(57,222)	(21,526)
Ending balance	152,332	115,153	66,310
Goodwill
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	474,366	382,500	382,500
Additions	0	0	0
Business combinations	68,379	91,866
Write-offs	0	0	0
Transfers	0	0
Foreign Exchange	0
Amortization in the year	0	0	0
Ending balance	542,745	474,366	382,500
Customer list
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	58,285	60,599	41,544
Additions	40,000	1,188	27,000
Business combinations	0	2,181
Write-offs	0	0	0
Transfers	0	0
Foreign Exchange	0
Amortization in the year	(5,796)	(5,683)	(7,945)
Ending balance	92,489	58,285	60,599
Trademarks
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	10,748	16,488	19,223
Additions	0	0	0
Business combinations	485	3,314
Write-offs	(1,000)	0	(33)
Transfers	485	0
Foreign Exchange	341
Amortization in the year	(8,492)	(9,054)	(2,702)
Ending balance	2,567	10,748	16,488
Other intangible Assets
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	55,010	27,555	22,877
Additions	30,808	28,051	10,601
Business combinations	0	0
Write-offs	(2,675)	0	(466)
Transfers	(52,484)	3,285
Foreign Exchange	204
Amortization in the year	(21)	(3,881)	(5,457)
Ending balance	30,842	55,010	27,555
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	877,071	654,809
Ending balance	1,082,314	877,071	654,809
Cost | Software
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	219,029	104,270
Ending balance	303,724	219,029	104,270
Cost | Goodwill
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	474,366	382,500
Ending balance	542,745	474,366	382,500
Cost | Customer list
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	76,050	105,977
Ending balance	116,050	76,050	105,977
Cost | Trademarks
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	52,616	22,239
Ending balance	88,877	52,616	22,239
Cost | Other intangible Assets
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	55,010	39,823
Ending balance	30,918	55,010	39,823
Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(163,509)	(101,357)
Ending balance	(261,339)	(163,509)	(101,357)
Accumulated amortization | Software
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(103,876)	(37,960)
Ending balance	(151,392)	(103,876)	(37,960)
Accumulated amortization | Goodwill
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0
Ending balance	0	0	0
Accumulated amortization | Customer list
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(17,765)	(45,378)
Ending balance	(23,561)	(17,765)	(45,378)
Accumulated amortization | Trademarks
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(41,868)	(5,751)
Ending balance	(86,310)	(41,868)	(5,751)
Accumulated amortization | Other intangible Assets
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	(12,268)
Ending balance	R$ 76	R$ 0	R$ 12268

Property, equipment, intangib_5

Property, equipment, intangible assets and leases - Additional details (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract]
Long-term growth rate utilized in the impairment test of goodwill	6.50%
Average pre-tax discount rate applied to cash flow projections	9.82%	10.47%
Rent expense from short-term leases and low-value assets	R$ 1021	R$ 1910
Rent expense on lease liabilities	R$ 17795	R$ 9615

Property, equipment, intangib_6

Property, equipment, intangible assets and leases - Summary of right-of-use assets and lease liabilities (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Right-of-use assets
Beginning balance	R$ 183134	R$ 227478
Current	0	0
Non-current	284,509	183,134
Additions	116,248	62,003
Depreciation expense	(45,511)	(41,465)
Write-offs	(856)	78,321
Revaluation	25,305	(9,115)
Impairment		422
Effects of exchange rate	6,189	22,132
Ending balance	284,509	183,134
Lease liabilities
Beginning balance	208,448	255,406
Current	71,925	34,019
Non-current	246,630	174,429
Additions	116,248	55,820
Write-offs	0	(78,321)
Interest expense	17,488	19,456
Revaluation	24,234	(10,050)
Effects of exchange rate	7,486	23,610
Payment of lease liabilities	(55,349)	(57,473)
Ending balance	R$ 318555	R$ 208448

Financing instruments payable -

Financing instruments payable - Schedule (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Subclassifications of Assets, Liabilities, and Equity [Line Items]
Market funding operations	R$ 20122206	R$ 5216599
Deposits	9,898,630	3,021,751
Demand deposits	229,691	44,536
Time deposits	9,662,694	2,977,215
Interbank deposits	6,245	0
Financial bills	2,587,738	16,389
Financial Liabilities At Amortized Cost, Structured Operations Certificates	7,635,838	2,178,459
Total	4,306,880	335,250
Debentures	169,094	335,250
Bond	4,137,786	0
Total	24,429,086	5,551,849
Current	8,018,854	2,731,816
Non-Current	R$ 16410232	R$ 2820033

Financing instruments payable_2

Financing instruments payable - Maturity (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	R$ 229691	R$ 44536
Time deposits	9,662,694	2,977,215
Interbank deposits	6,245	0
Financial bills	2,587,738	16,389
Financial Liabilities At Amortized Cost, Structured Operations Certificates	7,635,838	2,178,459
Market funding operations	20,122,206	5,216,599
Within 30 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	229,691	44,536
Time deposits	751,676	67,501
Interbank deposits	0
Financial bills	0	0
Financial Liabilities At Amortized Cost, Structured Operations Certificates	1,510	0
Market funding operations	982,877	112,037
From 31 to 60 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	0	0
Time deposits	520,694	1,185
Interbank deposits	3,125
Financial bills	0	0
Financial Liabilities At Amortized Cost, Structured Operations Certificates	3,940	0
Market funding operations	527,759	1,185
From 61 to 90 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	0	0
Time deposits	712,092	57,781
Interbank deposits	0
Financial bills	0	0
Financial Liabilities At Amortized Cost, Structured Operations Certificates	5,428	0
Market funding operations	717,520	57,781
From 91 to 180 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	0	0
Time deposits	3,231,965	191,886
Interbank deposits	0
Financial bills	10,945	0
Financial Liabilities At Amortized Cost, Structured Operations Certificates	9,120	945
Market funding operations	3,252,030	192,831
From 181 to 360 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	0	0
Time deposits	2,341,770	2,161,762
Interbank deposits	0
Financial bills	6,164	0
Financial Liabilities At Amortized Cost, Structured Operations Certificates	21,640	1,489
Market funding operations	2,369,574	2,163,251
After 360 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	0	0
Time deposits	2,104,497	497,100
Interbank deposits	3,120
Financial bills	2,570,629	16,389
Financial Liabilities At Amortized Cost, Structured Operations Certificates	7,594,200	2,176,025
Market funding operations	R$ 12272446	R$ 2689514

Financing instruments payable_3

Financing instruments payable - Debt securities (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Subclassifications of Assets, Liabilities, and Equity [Line Items]
Bond	R$ 4137786	R$ 0
Debentures	169,094	335,250
Total	4,306,880	335,250
Current	169,094	204,731
Non- Current	4,137,786	130,519
0-1 year
Subclassifications of Assets, Liabilities, and Equity [Line Items]
Bond	0	0
Debentures	169,094	204,731
Total	169,094	204,731
From 1 to 5 years
Subclassifications of Assets, Liabilities, and Equity [Line Items]
Bond	4,137,786	0
Debentures	0	130,519
Total	R$ 4137786	R$ 130519

Financing instruments payable_4

Financing instruments payable - Debt securities, additional information (Details) R$ in Thousands, $ in Millions	Jul. 01, 2021BRL (R$)	Jul. 01, 2021USD ($)	Dec. 31, 2021BRL (R$)	Dec. 31, 2020BRL (R$)	Dec. 31, 2019BRL (R$)	Dec. 08, 2021BRL (R$)	Sep. 09, 2021BRL (R$)
Disclosure of detailed information about borrowings [line items]
Notional value			R$ 9738021	R$ 2537950	R$ 248896
Proceeds from borrowings			1,570,639	0	R$ 0
Unit value at period-end			505,680
Total borrowings			1,928,782	284,087
Debentures			169,094	R$ 335250
Senior Unsecured Notes Due on July 1, 2026
Disclosure of detailed information about borrowings [line items]
Notional value | $		$ 750
Proceeds from borrowings	R$ 3697000	$ 739
Interest rate		3.25%
Promissory Note Due on September 4, 2022 | XP Energia
Disclosure of detailed information about borrowings [line items]
Notional value							R$ 80000
Total borrowings			R$ 82608
Promissory Note Due on September 4, 2022 | XP Energia | CDI Rate
Disclosure of detailed information about borrowings [line items]
Interest rate, adjustment to basis						3.50%
Debentures
Disclosure of detailed information about borrowings [line items]
Percentage of principal amount due and paid			50.00%
Debentures | CDI Rate
Disclosure of detailed information about borrowings [line items]
Interest rate, adjustment to basis			107.50%
Non-Convertible Debentures | XP Energia
Disclosure of detailed information about borrowings [line items]
Debentures			R$ 90679			R$ 90000
Non-Convertible Debentures | XP Energia | Top of range
Disclosure of detailed information about borrowings [line items]
Notional value						R$ 1500000
Non-Convertible Debentures | XP Energia | CDI Rate
Disclosure of detailed information about borrowings [line items]
Interest rate, adjustment to basis						2.50%

Securities trading and interm_3

Securities trading and intermediation (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Summary of Securities, Trading and Intermediation Assets and Liabilities [Abstract]
Cash and settlement records	R$ 107246	R$ 18128
Debtors pending settlement	1,380,393	1,088,923
Expected losses on securities training and intermediation	(81,988)	(55,485)
Total Assets	1,405,651	1,051,566
Cash and settlement records	365,700	59,712
Creditors pending settlement	15,231,855	20,243,409
Total Liabilities	R$ 15597555	R$ 20303121

Borrowings (Details)

Borrowings (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Total borrowings	R$ 1928782	R$ 284087
Current	1,661,067	17,637
Non-current	267,715	266,450
Related parties
Disclosure of detailed information about borrowings [line items]
Total borrowings		10,523
Related parties | Bank borrowings - domestic
Disclosure of detailed information about borrowings [line items]
Interest rate, adjustment to basis	113.00%
Maturity	March 2021
Total borrowings	R$ 0	10,523
Third Parties
Disclosure of detailed information about borrowings [line items]
Total borrowings	R$ 1928782	273,564
Banco Nacional de México | Financial Institution
Disclosure of detailed information about borrowings [line items]
Interest rate	0.813%
Maturity	May 2022
Total borrowings	R$ 1651871	0
International Finance Corporation | Financial Institution
Disclosure of detailed information about borrowings [line items]
Interest rate, adjustment to basis	0.774%
Maturity	April 2023
Total borrowings	R$ 276911	R$ 273564
Interest payable period	6 months

Other financial assets and fi_3

Other financial assets and financial liabilities - Other financial assets (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Foreign exchange portfolio	R$ 331563	R$ 43129
Receivables from IFAs	177,895	27,377
Other financial assets	1,723	2,777
(-) Expected losses on other financial assets	(49,666)	(3,312)
Total	461,515	69,971
Current	331,563	43,129
Non-current	R$ 129952	R$ 26842

Other financial assets and fi_4

Other financial assets and financial liabilities - Other financial liabilities (Details) - BRL (R$) R$ in Thousands	Aug. 03, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Foreign exchange portfolio		R$ 425409	R$ 70208
Structured financing		2,415,400	874,771
Credit cards operations		2,522,833	50,727
Contingent consideration		743,443	462,000
Commitments subject to possible redemption		1,080,721	0
Lease liabilities		318,555	208,448	R$ 255406
Others		174,111	40,078
Total		7,680,472	1,706,232
Current		5,860,674	1,244,232
Non-current		R$ 1819798	R$ 462000
Maturity period for the total contingent consideration payment		6 years
Contingent consideration		R$ 216666
XPAC Acquisition Corp.
Disclosure of contingent liabilities [line items]
Shares, redemption period	24 months
Top of range
Disclosure of contingent liabilities [line items]
Contractual amount payable for contingent consideration		878,506
Bottom of range
Disclosure of contingent liabilities [line items]
Contractual amount payable for contingent consideration		R$ 0

Social and statutory obligati_3

Social and statutory obligations - Additional information (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Social and statutory obligations	R$ 1022212	R$ 667448

Social and statutory obligati_4

Social and statutory obligations - Summary of social and statutory obligations (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Obligations to non-controlling interest	R$ 106648	R$ 82524
Employee profit-sharing liabilities	776,713	483,378
Salaries and other benefits payable	138,851	101,546
Social and statutory obligations	R$ 1022212	R$ 667448

Tax and social security oblig_3

Tax and social security obligations - Summary of Tax and Social Security Obligations (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Tax and Social Security Obligations [Abstract]
Income Tax (IRPJ and CSLL)	R$ 273395	R$ 261490
Taxes on long term incentive plan	155,454	62,155
Contributions over revenue (PIS and COFINS)	32,140	46,136
Taxes on services (ISS)	23,260	23,729
Contributions for Social Security (INSS)	20,318	12,291
Others	45,084	30,048
Total	549,651	435,849
Current	549,651	435,849
Non-current	R$ 0	R$ 0

Tax and social security oblig_4

Tax and social security obligations - Additional Information (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Tax and Social Security Obligations [Abstract]
Corporate income tax liability	R$ 610265	R$ 536422
Corporate income tax prepaid	538,809	291,973
Withholding taxes payable	R$ 17561	R$ 20219

Private pension liabilities (De

Private pension liabilities (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of defined benefit plans [abstract]
Beginning balance	R$ 13387913	R$ 3759090
Contributions received	3,056,032	1,678,532
Transfer with third party plans	16,854,605	7,657,636
Withdraws	(1,468,710)	(304,194)
Interest from assets within FIEs	91,560	596,849
Ending balance	R$ 31921400	R$ 13387913

Income tax - Summary of compone

Income tax - Summary of components of deferred tax assets and deferred tax liabilities (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	R$ 1244135	R$ 496694	R$ 279401	R$ 140400
Deferred tax expense (income)	747,441	217,292	139,001
Deferred tax assets	1,273,069	505,046
Deferred tax liabilities	(28,934)	(8,352)
Tax losses carryforwards
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	108,138	7,382
Deferred tax expense (income)	100,756	(9,764)	(38,212)
Goodwill on business combinations
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	12,429	22,838
Deferred tax expense (income)	(10,409)	535	(37,690)
Provisions for IFAs’ commissions
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	76,974	94,544
Deferred tax expense (income)	(17,570)	26,503	37,010
Revaluations of financial assets at fair value
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	173,740	(16,780)
Deferred tax expense (income)	190,520	(42,039)	23,862
Expected credit losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	43,931	19,444
Deferred tax expense (income)	24,487	13,778	2,587
Profit sharing plan
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	260,865	164,808
Deferred tax expense (income)	96,057	23,672	141,136
Net gain on hedge instruments
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	28,124	20,987
Deferred tax expense (income)	7,137	57,371	(34,943)
Share-based compensation
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	385,594	115,976
Deferred tax expense (income)	269,618	113,025	2,950
Other provisions
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	154,340	67,495
Deferred tax expense (income)	R$ 86845	R$ 34211	R$ 42301

Income tax - Summary of reconci

Income tax - Summary of reconciliation of changes in deferred tax liability asset (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Major components of tax expense (income) [abstract]
Beginning balance	R$ 496694	R$ 279401	R$ 140400
Foreign exchange variations	(16,949)	6,372	(3,461)
Charges to statement of income	387,551	196,498	139,411
Tax relating to components of other comprehensive income	376,839	14,423	3,051
Ending balance	R$ 1244135	R$ 496694	R$ 279401

Income tax - Additional informa

Income tax - Additional information (Details) - BRL (R$)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Major components of tax expense (income) [abstract]
Unused tax losses for which no deferred tax asset recognised	R$ 39446	R$ 37309
Applicable tax rate	34.00%	34.00%	34.00%

Income tax - Summary of income

Income tax - Summary of income tax calculation (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Income before income tax	R$ 3815174	R$ 2421413	R$ 1544109
Combined tax rate in Brazil	34.00%	34.00%	34.00%
Tax expense at the combined rate	R$ 1297159	R$ 823280	R$ 524997
Loss (income from entities not subject to deferred taxation	554	(12,470)	(9,551)
Effects from entities taxed at different rates	146,377	35,377	25,948
Effects from entities taxed at different taxation regimes	(1,128,400)	(443,579)	(24,089)
Intercompany transactions with different taxation regimes	(79,055)	(74,289)	(50,138)
Tax incentives	(21,036)	(14,354)	(9,772)
Non-deductible expenses (non-taxable income)	25,216	49,640	33,854
Others	(18,101)	(23,681)	(36,624)
Income tax expense	R$ 222714	R$ 339924	R$ 454625
Effective tax rate	5.84%	14.04%	29.44%
Current	R$ 610265	R$ 536422	R$ 594037
Deferred	R$ 387551	R$ 196498	R$ 139412

Income tax - Summary of analysi

Income tax - Summary of analysis of other comprehensive income by item (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Foreign exchange variation of investees located abroad
Before tax	R$ 20977	R$ 57439	R$ 6823
(Charge) / Credit	0	0	0
After tax	20,977	57,439	6,823
Gains (losses) on net investment hedge
Before tax	(29,700)	(91,762)	(10,543)
(Charge) / Credit	10,942	31,199	3,410
After tax	(18,758)	(60,563)	(7,133)
Changes in the fair value of financial assets at fair value
Before tax	(914,914)	40,979	1,057
(Charge) / Credit	365,897	(16,776)	(359)
After tax	(549,017)	24,203	698
Balance
Before tax	(923,637)	6,656	(2,663)
Tax relating to components of other comprehensive income	376,839	14,423	3,051
Other comprehensive income (loss) for the period, net of tax	R$ 546798	R$ 21079	R$ 388

Equity - Additional information

Equity - Additional information (Details) $ / shares in Units, R$ in Thousands, $ in Thousands	Oct. 08, 2021shares	Dec. 31, 2020BRL (R$)shares	Dec. 31, 2021BRL (R$)unitshares	Dec. 31, 2020BRL (R$)shares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2019shares
Disclosure of classes of share capital [line items]
Authorized share capital | $					$ 35
Number of shares authorised			3,500,000,000		3,500,000,000
Par value per share | $ / shares					$ 0.00001
Authorized shares but unissued			500,000,000		500,000,000
Issued capital		R$ 23	R$ 23	R$ 23	$ 23
Number of shares outstanding		559,058,965	559,548,724	559,058,965	559,548,724	551,800,326
Number of votes per share | unit			10
Issuance of shares			489,759
Number of shares reserved for issue under options and contracts for sale of shares		13,899,648	18,119,890	13,899,648	18,119,890
Number of shares held in treasury			726,776,000		726,776,000
Treasury shares | R$		R$ 0	R$ 171939	R$ 0
Dividends received | R$			R$ 3026	R$ 5567
Class A Common Shares
Disclosure of classes of share capital [line items]
Number of shares issued			2,000,000,000		2,000,000,000
Number of shares outstanding			424,153,735		424,153,735
Issuance of shares		7,258,639
Issuance of shares	489,759
Class B Common Shares
Disclosure of classes of share capital [line items]
Number of shares issued			1,000,000,000		1,000,000,000
Number of shares outstanding		181,293,980	135,394,989	181,293,980	135,394,989	197,618,980
Issuance of shares			0
RSUs
Disclosure of classes of share capital [line items]
Number of shares reserved for issue under options and contracts for sale of shares		11,079,736	15,153,830	11,079,736	15,153,830
PSUs
Disclosure of classes of share capital [line items]
Number of shares reserved for issue under options and contracts for sale of shares		2,819,912	2,966,060	2,819,912	2,966,060

Equity - Summary of issuances a

Equity - Summary of issuances and conversations of shares (Details) - shares	Dec. 07, 2020	Dec. 31, 2021	Dec. 31, 2020
Disclosure of classes of share capital [line items]
Beginning balance		559,058,965	551,800,326
Transfer of classes		0	0
Follow on offering			7,258,639
Issuance of shares		489,759
Ending balance		559,548,724	559,058,965
Class A Common Share
Disclosure of classes of share capital [line items]
Beginning balance		377,764,985	354,181,346
Transfer of classes		45,898,991	16,325,000
Follow on offering			7,258,639
Issuance of shares	7,130,435	489,759
Ending balance		424,153,735	377,764,985
Class B Common Shares
Disclosure of classes of share capital [line items]
Beginning balance		181,293,980	197,618,980
Transfer of classes		(45,898,991)	(16,325,000)
Follow on offering			0
Issuance of shares		0
Ending balance		135,394,989	181,293,980

Related party transactions - Su

Related party transactions - Summary of key management personnel compensation expense (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [abstract]
Fixed compensation	R$ 8801	R$ 6335	R$ 4821
Variable compensation	44,362	55,909	22,060
Total	R$ 53163	R$ 62244	R$ 26881

Related party transactions - _2

Related party transactions - Summary of transactions between related parties explanatory (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	R$ 2096701	R$ 5667588
Revenue/(Expenses)	(60,177)	(53,881)	R$ 49779
Securities
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	194,892	112,127
Revenue/(Expenses)	4,270	9,629	10,381
Securities purchased under agreements to resell
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	0	0
Revenue/(Expenses)	19,098	0	1,550
Accounts receivable and Loans operations
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	9,205	11,238
Revenue/(Expenses)	744	505	1,025
Securities sold under repurchase agreements
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	(2,300,798)	(5,780,430)
Revenue/(Expenses)	(84,268)	(62,951)	(58,078)
Borrowings
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	0	(10,523)
Revenue/(Expenses)	R$ 21	R$ 1064	R$ 4657

Provisions and contingent lia_3

Provisions and contingent liabilities - Summary of other provisions (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of other provisions [line items]
Other provisions	R$ 29308	R$ 19711	R$ 15193	R$ 17474
Judicial deposits	11,202	10,199
Tax contingencies
Disclosure of other provisions [line items]
Other provisions	10,374	10,097
Civil contingencies
Disclosure of other provisions [line items]
Other provisions	12,539	4,281
Labor contingencies
Disclosure of other provisions [line items]
Other provisions	R$ 6395	R$ 5333

Provisions and contingent lia_4

Provisions and contingent liabilities - Summary of changes in other provisions (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other provisions [abstract]
Beginning of period	R$ 19711	R$ 15193	R$ 17474
Monetary correction	6,837	4,102	2,492
Provision	8,457	3,499	2,338
Reversed	(3,132)	(1,454)	(3,939)
Payments	(2,565)	(1,629)	(3,172)
End of period	R$ 29308	R$ 19711	R$ 15193

Provisions and contingent lia_5

Provisions and contingent liabilities - Additional information (Details) R$ in Thousands	Dec. 31, 2021BRL (R$)claim	Dec. 31, 2020BRL (R$)	Dec. 31, 2019BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure of contingent liabilities [line items]
Other provisions	R$ 29308	R$ 19711	R$ 15193	R$ 17474
Judicial deposits	11,202	10,199
Tax
Disclosure of contingent liabilities [line items]
Other provisions	10,374	10,097
Civil
Disclosure of contingent liabilities [line items]
Other provisions	R$ 12539	4,281
Number of civil and administrative claims for which the likelihood of loss has been classified as probable | claim	105
Judicial deposits	R$ 758	100
Labor
Disclosure of contingent liabilities [line items]
Other provisions	R$ 6395	R$ 5333
Number of civil and administrative claims for which the likelihood of loss has been classified as probable | claim	18

Provisions and contingent lia_6

Provisions and contingent liabilities - Summary of contingent liabilities (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Nov. 30, 2021	Dec. 31, 2020
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities	R$ 487121		R$ 217426
Tax
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities	228,602		71,027
Tax | Federal Revenue of Brazil v. Company re. Brazilian Law 10,101/00
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities		R$ 97456
Tax | Federal Revenue of Brazil v. Company re. Tax Assessment
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities	58,262
Civil
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities	232,775		136,228
Labor
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities	R$ 25744		R$ 10171

Total revenue and income - Disa

Total revenue and income - Disaggregation of revenue by major service lines (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Analysis of income and expense [abstract]
Brokerage commission	R$ 2465217	R$ 2139985	R$ 1288135
Securities placement	1,917,403	1,429,824	1,154,786
Management fees	1,489,736	1,224,125	1,035,224
Insurance brokerage fee	133,070	112,802	106,438
Educational services	71,295	118,272	97,986
Commissions Fees	192,923	90,804	48,413
Other services	532,035	386,780	227,054
Revenue before sales taxes and contributions on revenue	6,801,679	5,502,592	3,958,036
Sales taxes and contributions on revenue	(605,214)	(486,104)	(362,264)
Net revenue from services rendered	R$ 6196465	R$ 5016488	R$ 3595772

Total revenue and income - Summ

Total revenue and income - Summary of net income from financial instruments (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Analysis of income and expense [abstract]
Net Income of financial instruments at fair value through profit or loss	R$ 7555132	R$ 3020698	R$ 1360207
Net income (loss) from financial instruments at amortized cost and at fair value through other comprehensive income	(1,558,060)	188,196	199,947
Taxes and contributions on financial income	(116,425)	(73,777)	(28,118)
Net income from financial instruments	R$ 5880647	R$ 3135117	R$ 1532036

Total revenue and income - Su_2

Total revenue and income - Summary of disaggregation by geographic location (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of disaggregation by geographic location [Line Items]
Total revenue and income	R$ 12077112	R$ 8151605	R$ 5127808
Selected assets	7,806,597	3,378,500
Brazil
Disclosure of disaggregation by geographic location [Line Items]
Total revenue and income	11,723,976	7,454,304	4,790,236
Selected assets	7,698,115	3,244,421
United States
Disclosure of disaggregation by geographic location [Line Items]
Total revenue and income	332,046	655,817	307,456
Selected assets	106,736	129,956
Europe
Disclosure of disaggregation by geographic location [Line Items]
Total revenue and income	21,090	41,484	R$ 30116
Selected assets	R$ 1746	R$ 4123

Operating costs (Details)

Operating costs (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Analysis of income and expense [abstract]
Commission and incentive costs	R$ 2719611	R$ 2087197	R$ 1269309
Operating losses	35,844	31,295	13,922
Other costs	674,654	526,867	313,419
Clearing house fees	411,605	344,278	201,083
Third parties’ services	88,431	92,997	76,669
Other	174,618	89,592	35,667
Operating costs	R$ 3430109	R$ 2645359	R$ 1596650

Operating expenses by nature (D

Operating expenses by nature (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Analysis of income and expense [abstract]
Selling expenses	R$ 227483	R$ 134915	R$ 155115
Advertising and publicity	227,483	134,915	155,115
Administrative expenses	4,692,698	3,013,598	1,891,481
Personnel expenses	3,427,220	2,138,470	1,261,887
Compensation	1,416,247	846,742	408,394
Employee profit-sharing and bonus	1,362,046	807,640	645,992
Executives profit-sharing	143,763	194,419	67,547
Benefits	130,187	75,302	47,457
Social charges	358,878	208,151	88,960
Other	16,099	6,216	3,537
Other taxes expenses	53,603	44,029	39,691
Depreciation of property and equipment and right-of-use assets	68,618	67,422	53,530
Amortization of intangible assets	163,112	75,839	37,630
Other administrative expenses	980,145	687,838	498,743
Data processing	450,796	322,659	178,860
Technical services	167,984	101,389	85,782
Third parties' services	249,514	168,019	145,730
Rent expenses	16,498	17,955	10,575
Communication	30,041	29,311	17,495
Travel	13,282	9,923	21,676
Legal and judicial	9,292	6,976	3,406
Other	42,738	31,606	35,219
Total	R$ 4920181	R$ 3148513	R$ 2046596

Other operating income, net (De

Other operating income, net (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Analysis of income and expense [abstract]
Other operating income	R$ 413665	R$ 377480	R$ 208245
Revenue from incentives from Tesouro Direto, B3 and others	366,163	352,879	101,615
Interest received on tax	7,604	5,521	31,782
Recovery of charges and expenses	4,473	1,798	53,453
Reversal of operating provisions	7,422	1,366	9,767
Other	28,003	15,916	11,628
Other operating expenses	(89,311)	(206,427)	(54,888)
Legal, administrative proceedings and agreement with customers	(3,667)	(45,277)	(9,499)
Losses on write-off and disposal of assets	(4,377)	(52,102)	(10,265)
Tax incentive expenses	(10,788)	(8,136)	(7,060)
Fines and penalties	(1,378)	(16,995)	(1,191)
Associations and regulatory fees	(11,714)	(13,524)	(4,216)
Charity	(30,171)	(41,654)	(6,751)
Other	(27,216)	(28,739)	(15,906)
Total	R$ 324354	R$ 171053	R$ 153357

Share-based plan - Additional i

Share-based plan - Additional information (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2021BRL (R$)	Dec. 31, 2020BRL (R$)shares	Dec. 31, 2021USD ($)shares	May 31, 2020USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares reserved for issue under options and contracts for sale of shares | shares		13,899,648	18,119,890
Expense from share-based payment transactions with employees | R$	R$ 654876	R$ 292817
Tax provisions and does not include any tax benefits on total share based compensation expense | R$	R$ 93421	R$ 60026
Weighted average fair value at measurement date, other equity instruments granted | $			$ 40.71
RSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares reserved for issue under options and contracts for sale of shares | shares		11,079,736	15,153,830
Weighted average fair value at measurement date, other equity instruments granted | $			$ 27
PSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares reserved for issue under options and contracts for sale of shares | shares		2,819,912	2,966,060
Weighted average fair value at measurement date, other equity instruments granted | $			$ 34.56	$ 52.41

Share-based plan - Activity of

Share-based plan - Activity of RSUs and PSUs (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of units
Outstanding (shares)	13,899,648	4,112,046
Granted (shares)	5,939,132	10,359,957
Forfeited (shares)	(1,718,890)	(572,355)
Outstanding (shares)	18,119,890	13,899,648
RSUs
Number of units
Outstanding (shares)	11,079,736	1,921,669
Granted (shares)	5,709,046	9,730,422
Forfeited (shares)	(1,634,952)	(572,355)
Outstanding (shares)	15,153,830	11,079,736
PSUs
Number of units
Outstanding (shares)	2,819,912	2,190,377
Granted (shares)	230,086	629,535
Forfeited (shares)	(83,938)	0
Outstanding (shares)	2,966,060	2,819,912

Earnings per share (basic and_3

Earnings per share (basic and diluted) (Details) - BRL (R$) R$ / shares in Units, shares in Thousands, R$ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings per share [abstract]
Net Income attributable to owners of the Parent	R$ 3589416	R$ 2076430	R$ 1080484
Basic weighted average number of outstanding shares (in shares)	559,004	552,291	511,462
Basic earnings per share (in R$ per share)	R$ 6.4211	R$ 3.7597	R$ 2.1125
Share-based plan and treasury shares (in shares)	14,496	6,817	248
Diluted weighted average number of outstanding shares (in shares)	573,499	559,108	511,710
Diluted earnings per share (in R$ per share)	R$ 6.2588	R$ 3.7138	R$ 2.1115

Determination of fair value (De

Determination of fair value (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2021BRL (R$)	Dec. 31, 2020BRL (R$)
Financial assets at Fair value through profit or loss
Securities	R$ 58179955	R$ 49590013
Derivative financial instruments	10,943,714	7,559,433
Fair value through other comprehensive income
Securities	32,332,377	19,039,044
Evaluated at amortized cost
Securities	2,238,807	1,828,704
Securities purchased under agreements to resell	8,894,531	6,627,409
Securities trading and intermediation	1,405,651	1,051,566
Accounts receivable	469,086	506,359
Loan operations	12,819,627	3,918,328
Other financial assets	461,515	69,971
Fair value through profit or loss
Securities loaned	2,665,202	2,237,442
Derivative financial instruments	11,908,183	7,819,364
Evaluated at amortized cost
Securities sold under repurchase agreements	26,281,345	31,839,344
Securities trading and intermediation	15,597,555	20,303,121
Financing instruments payable	24,429,086	5,551,849
Borrowings	1,928,782	284,087
Debentures		335,250
Accounts payables	867,526	859,550
Other financial liabilities	7,680,472	1,706,232
Investments in associates measured at fair value	R$ 1221424
Reasonably possible increase (decrease) in variable, percent	1.00%
Increase (decrease) in fair value due to change in discount rate, liability	R$ 18751
Increase (decrease) in fair value due to change in discount rate by 100 bps, asset	R$ 12214
Discount rate
Evaluated at amortized cost
Weighted average discount rate	0.1009
Fair value
Financial assets at Fair value through profit or loss
Securities	R$ 58179955	49,590,013
Derivative financial instruments	10,943,714	7,559,433
Fair value through other comprehensive income
Securities	32,332,377	19,039,044
Evaluated at amortized cost
Securities	2,542,182	1,830,031
Securities purchased under agreements to resell	9,124,719	6,627,044
Securities trading and intermediation	1,405,651	1,051,566
Accounts receivable	469,086	506,359
Loan operations	12,844,037	4,037,954
Other financial assets	461,515	69,971
Fair value through profit or loss
Securities loaned	2,665,202	2,237,442
Derivative financial instruments	11,908,183	7,819,364
Evaluated at amortized cost
Securities sold under repurchase agreements	26,276,252	31,810,893
Securities trading and intermediation	15,597,555	20,303,121
Financing instruments payable	23,974,348	5,162,453
Borrowings	1,932,859	283,993
Debentures		331,520
Accounts payables	867,526	859,550
Other financial liabilities	7,680,472	1,706,232
Investments in associates measured at fair value	1,221,424
Level 1 | Fair value
Financial assets at Fair value through profit or loss
Securities	49,677,779	35,549,047
Derivative financial instruments	194,911	26,535
Fair value through other comprehensive income
Securities	32,332,377	19,039,044
Evaluated at amortized cost
Securities	1,870,205	1,830,031
Securities purchased under agreements to resell	0	0
Securities trading and intermediation	0	0
Accounts receivable	0	0
Loan operations	0	0
Other financial assets	0	0
Fair value through profit or loss
Securities loaned		2,237,442
Derivative financial instruments	157,710	13,221
Evaluated at amortized cost
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	0	0
Borrowings	0	0
Debentures		0
Accounts payables	0	0
Other financial liabilities	0	0
Investments in associates measured at fair value	0
Level 2 | Fair value
Financial assets at Fair value through profit or loss
Securities	8,502,176	14,040,966
Derivative financial instruments	10,748,803	7,532,898
Fair value through other comprehensive income
Securities	0	0
Evaluated at amortized cost
Securities	671,977	0
Securities purchased under agreements to resell	9,124,719	6,627,044
Securities trading and intermediation	1,405,651	1,051,566
Accounts receivable	469,086	506,359
Loan operations	12,844,037	4,037,954
Other financial assets	461,515	69,971
Fair value through profit or loss
Securities loaned	518,804	0
Derivative financial instruments	11,750,473	7,806,143
Evaluated at amortized cost
Securities sold under repurchase agreements	26,276,252	31,810,893
Securities trading and intermediation	15,597,555	20,303,121
Financing instruments payable	23,974,348	5,162,453
Borrowings	1,932,859	283,993
Debentures		331,520
Accounts payables	867,526	859,550
Other financial liabilities	6,937,029	1,244,232
Investments in associates measured at fair value	0
Level 3 | Fair value
Financial assets at Fair value through profit or loss
Securities	0	0
Derivative financial instruments	0	0
Fair value through other comprehensive income
Securities	0	0
Evaluated at amortized cost
Securities	0	0
Securities purchased under agreements to resell	0	0
Securities trading and intermediation	0	0
Accounts receivable	0	0
Loan operations	0	0
Other financial assets	0	0
Fair value through profit or loss
Securities loaned	0	0
Derivative financial instruments	0	0
Evaluated at amortized cost
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	0	0
Borrowings	0	0
Debentures		0
Accounts payables	0	0
Other financial liabilities	743,443	R$ 462000
Investments in associates measured at fair value	R$ 1221424

Management of financial risks_3

Management of financial risks and financial instruments (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Securities purchased under agreements to resell	R$ 8894531	R$ 6627409
Securities	92,751,139	70,457,761
Public securities	48,246,922	51,944,301
Private securities	44,504,217	18,513,460
Derivative financial instruments	10,943,714	7,559,433
Securities trading and intermediation	1,405,651	1,051,566
Accounts receivable	469,086	506,359
Loan operations	12,819,627	3,918,328
Other financial assets	461,515	69,971
Off-balance exposures	1,367,399	35,810
Total	R$ 129112662	R$ 90190827

Management of financial risks_4

Management of financial risks and financial instruments - Summary of financial liabilities into groupings based on their contractual maturities (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets [line items]
Securities	R$ 2665202	R$ 2237442
Derivative financial instruments	11,908,183	7,819,364
Securities sold under repurchase agreements	26,281,345	31,839,344
Securities trading and intermediation	15,597,555	20,303,121
Financing instruments payable	24,429,086	5,551,849
Borrowings	1,928,782	284,087
Accounts payables	867,526	859,550
Other financial liabilities	7,680,472	1,706,232
Financial liabilities	91,358,151	70,600,989
Up to 1 month
Disclosure of financial assets [line items]
Securities	2,146,398	2,237,442
Derivative financial instruments	758,821	1,572,140
Securities sold under repurchase agreements	26,281,345	31,839,344
Securities trading and intermediation	15,597,555	20,303,121
Financing instruments payable	982,877	128,426
Borrowings	0	3,535
Accounts payables	867,526	859,550
Other financial liabilities	5,856,309	1,038,628
Financial liabilities	52,490,831	57,982,186
From 2 to 3 months
Disclosure of financial assets [line items]
Securities	0	0
Derivative financial instruments	1,379,092	814,220
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	1,245,279	58,966
Borrowings	0	6,989
Accounts payables	0	0
Other financial liabilities	0	5,721
Financial liabilities	2,624,371	885,896
From 3 to 12 months
Disclosure of financial assets [line items]
Securities	0	0
Derivative financial instruments	2,250,942	2,643,065
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	5,790,698	2,356,082
Borrowings	1,661,067	7,114
Accounts payables	0	0
Other financial liabilities	4,365	25,454
Financial liabilities	9,707,072	5,031,715
From 1 to 5 years
Disclosure of financial assets [line items]
Securities	0	0
Derivative financial instruments	6,436,008	2,205,410
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	15,525,061	1,685,468
Borrowings	267,715	266,449
Accounts payables	0	0
Other financial liabilities	1,819,798	571,054
Financial liabilities	24,048,582	4,728,381
Above 5 years
Disclosure of financial assets [line items]
Securities	518,804	0
Derivative financial instruments	1,083,320	584,529
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	885,171	1,322,907
Borrowings	0	0
Accounts payables	0	0
Other financial liabilities	0	65,375
Financial liabilities	R$ 2487295	R$ 1972811

Management of financial risks_5

Management of financial risks and financial instruments - Additional information (Details) £ in Thousands, $ in Thousands	Dec. 31, 2021USD ($)	Dec. 31, 2021GBP (£)	Dec. 31, 2020USD ($)	Dec. 31, 2020GBP (£)
XP Holdings
Disclosure of sensitivity analysis [Line Items]
Foreign Currency Risk	$ 52,905		$ 46,534
XP Advisors Inc
Disclosure of sensitivity analysis [Line Items]
Foreign Currency Risk	$ 2,658		$ 801
XP Holdings UK Ltd
Disclosure of sensitivity analysis [Line Items]
Foreign Currency Risk | £		£ 1,918		£ 2,268

Management of financial risks_6

Management of financial risks and financial instruments - Summary of sensitivity analysis (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	R$ 8618	R$ 7835
Sensitivity analysis increase decrease in twenty five percent	(279,158)	(305,970)
Sensitivity analysis increase decrease in fifty percent	(153,306)	(614,564)
Pre-fixed | Pre-fixed interest rate in Reais
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(285)	(191)
Sensitivity analysis increase decrease in twenty five percent	(110,555)	(9,056)
Sensitivity analysis increase decrease in fifty percent	(204,607)	(33,402)
Exchange coupons | Foreign currencies coupon rate
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(35)	(379)
Sensitivity analysis increase decrease in twenty five percent	(5,578)	(5,508)
Sensitivity analysis increase decrease in fifty percent	(11,325)	(11,184)
Foreign currencies | Exchange rates
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(364)	(1,997)
Sensitivity analysis increase decrease in twenty five percent	177,203	(169,318)
Sensitivity analysis increase decrease in fifty percent	384,340	(373,807)
Price indexes | Inflation coupon rates
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(248)	(311)
Sensitivity analysis increase decrease in twenty five percent	(53,407)	(14,384)
Sensitivity analysis increase decrease in fifty percent	(103,602)	(28,434)
Share | Shares prices
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(1,483)	(4,957)
Sensitivity analysis increase decrease in twenty five percent	(131,753)	(107,704)
Sensitivity analysis increase decrease in fifty percent	92,024	R$ 167737
Seed Money | Seed Money
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(6,203)
Sensitivity analysis increase decrease in twenty five percent	(155,068)
Sensitivity analysis increase decrease in fifty percent	R$ 310136

Capital management - Summary of

Capital management - Summary of net debt and corresponding gearing ratios (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Group debt	R$ 7073021	R$ 827785
Structured financing	2,415,400	874,771
Total debt	9,488,421	1,702,556
Cash	(2,485,641)	(1,954,788)	R$ 109922
Securities purchased under agreements to resell	(1,071,328)	(593,673)	(654,057)
Certificate deposits (Securities)	(194,892)	(111,927)	R$ 123817
Net debt	5,736,560	(957,832)
Total equity	14,416,836	10,894,609
Total capital	R$ 20153396	R$ 9936777
Gearing ratio %	28.46%	(9.64%)

Capital management - Additional

Capital management - Additional information (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Contracts under financial covenants	R$ 446005	R$ 619337

Cash flow information (Details)

Cash flow information (Details) - BRL (R$)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Total debt, beginning balance	R$ 827785000	R$ 1472714000	R$ 1024641000
Acquisitions / Issuance	5,878,167,000	55,820,000	524,196,000
Write-off		(78,321,000)
Payments	(254,197,000)	(552,868,000)	(135,147,000)
Repurchase		(64,717,000)
Revaluation	24,234,000	(10,050,000)
Net foreign exchange differences	512,162,000	23,610,000	3,085,000
Interest accrued	174,894,000	52,821,000	84,367,000
Interest paid	(81,427,000)	(71,224,000)	(28,428,000)
Total debt, ending balance	7,081,618,000	827,785,000	1,472,714,000
Fair value adjustments, liabilities arising from financing activities		0
Borrowings
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Total debt, beginning balance	284,087,000	382,078,000	469,609,000
Acquisitions / Issuance	1,570,639,000	0	0
Write-off		0
Payments	(21,022,000)	(95,395,000)	(85,353,000)
Repurchase		0
Revaluation	0	0
Net foreign exchange differences	73,426,000	0	0
Interest accrued	21,689,000	11,892,000	26,250,000
Interest paid	(37,000)	(14,488,000)	(28,428,000)
Total debt, ending balance	1,928,782,000	284,087,000	382,078,000
Lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Total debt, beginning balance	208,448,000	255,406,000	148,494,000
Acquisitions / Issuance	116,248,000	55,820,000	124,196,000
Write-off		(78,321,000)
Payments	(55,349,000)	(57,473,000)	(37,979,000)
Repurchase		0
Revaluation	24,234,000	(10,050,000)
Net foreign exchange differences	7,486,000	23,610,000	3,085,000
Interest accrued	17,488,000	19,456,000	17,610,000
Interest paid	0	0	0
Total debt, ending balance	318,555,000	208,448,000	255,406,000
Debentures
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Total debt, beginning balance	335,250,000	835,230,000	406,538,000
Acquisitions / Issuance	500,018,000	0	400,000,000
Write-off		0
Payments	(177,826,000)	(400,000,000)	(11,815,000)
Repurchase		(64,717,000)
Revaluation	0	0
Net foreign exchange differences	0	0	0
Interest accrued	60,919,000	21,473,000	40,507,000
Interest paid	(12,386,000)	(56,736,000)	0
Total debt, ending balance	705,975,000	335,250,000	835,230,000
Fair value adjustments, liabilities arising from financing activities	18,077,000
Bonds
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Total debt, beginning balance	0	0	0
Acquisitions / Issuance	3,691,262,000	0	0
Write-off		0
Payments	0	0	0
Repurchase		0
Revaluation	0	0
Net foreign exchange differences	431,250,000	0	0
Interest accrued	74,798,000	0	0
Interest paid	(69,004,000)	0	0
Total debt, ending balance	4,128,306,000	R$ 0	R$ 0
Fair value adjustments, liabilities arising from financing activities	R$ 9480000

Cash flow information - Additio

Cash flow information - Additional information (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2021BRL (R$)
Disclosure of reconciliation of liabilities arising from financing activities [abstract]
Non-cash investing and financing activities related to business acquisitions through accounts payables and contingent consideration	R$ 6381
Non-cash investing and financing activities related to acquisition of investment in associates through accounts payables	97,009
Non-cash investing and financing activities related to acquisition of investment in associates through private issuance of shares	R$ 112642

Subsequent events (Details)

Subsequent events (Details) share in Millions	Jan. 19, 2022	Jan. 06, 2022share	Jan. 04, 2022	Jan. 03, 2022
Acquisitions
Disclosure of non-adjusting events after reporting period [line items]
Equity interests of issuer (in shares)		19.5
Premium paid on purchase price		0.35
Suna Controle S.A. | Minority Stake Acquisitions
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest in associate				40.00%
Estratégia & Timing | Minority Stake Acquisitions
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest in associate			45.00%
Etrnity | Minority Stake Acquisitions
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest in associate	20.00%
AZ Quest | Minority Stake Acquisitions
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest in associate	5.00%
Banco Modal S.A. | Acquisitions
Disclosure of non-adjusting events after reporting period [line items]
Percentage of voting equity interests acquired		100.00%