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value-generating the formula. results, our moving powerful yet before quarterly on Now let's to recap simple
Mexico customers. and First Brazil, growing active turning our base customer and customers Colombia across into
through and the while lowest cost cost Second, funding. third, product best-in-class, product delivering per through revenue risk maintaining cross-sell. all expanding operating to industry and ARPAC acquire, customer both the platforms And growth one or to active of serve, this average the of in upsell of
with quarter Brazil largest total organic in in of making dive our fifth million of to quarter, a financial quarterly adds through and We million let's second likely, end, This of customers. customers terms net channels. X.X brought a mainly Now of the line deep during into the business. take XX% added XX.X us the customers the number results institution first increase by quarter the in year-on-year
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to while engagement. quarter, the XX% grow acquisition, quarter marked activity higher customer of drive XX%, another to to continue prior testament monthly consecutive and from continue we activity, our customer XX% ability a ago to while monthly rates up the that ecosystem, the in year increasing XXth Importantly, our to driving
are up per ARPAC. Now moving active while chart higher base one $XX. expansion growth has continue drive combination the per One analysis customers can terms of see how that of in that, mature the These triple-digit reach we the has products see charts the engagement increasing ARPAC in can to already cohorts in revenue $X.X customer to also When right an cohorts. trends. of more engagement our show three healthy cohorts products of quarter, monthly proven and higher This helped ARPAC number our powerful looking ARPAC and of our monetization. a fuel customer maintain at customer far growth. all at on customer of
not another of of also areas: first, result XXX% nearly is number customers, quarter reaching customers, only a growth an the but record high active quarterly We in This of revenue saw customers. growing effects compounding monthly FX-neutral year-on-year the exceptional of growth, two basis, $X.X active revenue on billion. monthly a
continue expand product and cross-sell Second, monthly our higher product upsell levels ARPAC. which of to
still can at ARPAC very note has we the ARPAC over from above it's expanded of ARPACs serve with afford important far the economics. our ARPAC see to Notwithstanding very to and strongly unit ARPACs lower you healthy still post in customers we far monthly that our potential. are our ours incumbent potential, can past the banks left-hand pillars, in cost are $XX. as side, quarters, Although our we advantages The believe with
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to and aimed the moderate this our in observations two of also growth This context to personal at loan portfolio resilience of uncertain make strengthening outlook quarter, we Brazilian for the decided contextualize a trend. the reprice I short-term credit more its economy.
by an cards. the balance FX-neutral adjust negatively FX would portfolio First, loans in $XXX million our billion we over impacted around figures. If basis, our portfolio figures personal grown $X have on and credit in
terms Second, the loans remain of in FX context quarter-over-quarter. levels the a simply of personal portfolio, originations the constant the rates duration period. volume lower amortizations part growth In because in short originated replenishes yield origination largely unchanged similar in
to of origination. launching credit or that features credit been our our contextualize, two things portfolio; use evolution include into into of using slips, the in look important now the customers card card financing two, a as their our card and the allow mainly credit interest-earning and have it's as of of in in finance credit features details. credit our personal more individual evolution that our to ability bank expanding loan card all Let's Brazil means. One, IEP, assets transfers. installments regards result evolution interest-earning new big IEP, These to cards With we purchase limits. the cases to consistently
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class. highlighting our credit capture We of cards these credit not of worth the do loans. entirety IEPs that IEP Finally, personal and asset commingle figures card it's
in you If credit you are personal a were late ineligible card, for loan.
the evolution Now, our XXXX. things to on loans. origination, of second in in monthly two the we moving of personal along the this graph loan the note with our originations One quarter them. The of respective can slide personal shows interest charge
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an for personal largely basis. remained loan originations on our stable FX-neutral book Second,
pace loans the hinge our in Brazilian the origination cohorts. short-term performance credit of and the forward, of on economy outlook of the personal Going will
the an As second on of of to this that of quarter origination the and third today, year we similar are levels FX-neutral assuming fourth for of quarter basis.
grow million last rate. of grown to quarterly a of to average advance a Deposits the added would most continued which up year-on-year loan-to-deposit only billion. strategy with an On funding the $XXX XX% We operations. fund fast at on franchise, with balance second in below with deposit basis, risk-free We neutral cost $X.X to a robust We quarter, our a building CDI, continue months, quarter currency local ratio deposit the an deposits basis, pace we deposits have XX%. during on the of use quarter-over-quarter. of our ended nearly billion total closing FX-neutral a over three $XX.X FX Brazil's quarter
we contribute serve. platform to competitive costs, touched remind advantages mitigate to we addition, the time. changes cost short-term which the investment other potential the account. low in expect At and again one box, upsell will as of topic Since we same the optimize of the very deposits you that on attrition. in its on deposits changes such new features of recently we the franchise, funding and a combined platform our cross-sell yield In over time, reduction faster ecosystem, we for within help in rests remuneration on These introduced our of can this our of money launched our key slide, our cost
continues that you our was banks. monthly below reached lower of traditional our than $X.XX while serve to serve $X.X. quarter, be XX% $X, our ARPAC, This cost remaining remind cost to those average to I monthly
at to the our level. Going forward, expect cost to dollar we remain serve
of in another result gross up basis to as discussed following FX-neutral P&L. our a high the our million. margin quarter the profit earnings $XXX XXX% in of an call. year-on-year quarter record that down decreased prior profit, gross We Moving on the delivered has as factors Note,
credit to provisioning, credit loss IFRS, booked. the front whenever growth loss our have First, we provisioning. loan load Under of recognition driving is a
credit So, short-term our the profit faster we margin. to the book, gross brings grow pressure it more our
on cash balance. interest Second,
drives but up, by profit gross go our gross down if balance, offset fully the unchanged. our large it interest As profit expenses. more pushes our largely revenues the of rates of words, money up, on margin, other even rates denominator as cash we formula. it's gross or higher partially In funding pool This higher leave increases our earn profit
As and our those be matures profit our stabilize, Operating of component margin leverage the observed interest rates credit gross expected cohorts. platform the two can more to converge portfolio in key mature is a is to and fronts. in
be as portfolio, seen use on margin, expand and as NIM, large we deposit our of side. chart left-hand the our optimize on we expand credit net the First, can the base low-cost interest our and or
we our revenue and dilute improve can the seen on as be low-cost increase, chart levels right-hand overall Second, our on our as side. platform efficiency further the levels operating
We time, over compound allowing high achieve the NIMs efficiency and to company expect ratios. to both continue trends best-in-class and
line, earnings cost winners despite this the believe that We orientation To cost it's $XX financial manufacturers. Moving American we emphasize income will up again, we million. on long-term are section, on with services to the lowest Latin formula. our our to reported adjusted industry be as bottom undeniable path that, right the in leave we sum recurring net our that profitability discipline, the important confirms, behind our growth the never will of
of exemplify of to highlight cost four cost at across the operating our to that I of we to cost banking: and like cost being would pillars funding. acquire, lowest aim discipline. the retail serve, two cost So important trends cost cost manufacturer risk
half during personnel the a expect in of on second advancing the of the XXXX. growth year, first geographies of we our half staffing First, the slower after new
to of new a Second, coming of the account our remuneration. the we expect quarters, cost the a reduction in result funding change over as
approach. the who Officer, performance Chief credit like turn Operating asset would underwriting over walk President our call to and through you to I Now, our will Youssef, and quality
