Nu Holdings Ltd 6-K, filed Nov 14, 2023

Nu Holdings Ltd. (NU)

6-K 2023-11-14 For: 2023-09-30

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Added on July 04, 2026

About this 6-K

Nu Holdings Ltd filed this 6-K on November 14, 2023.

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Unaudited Interim Condensed Consolidated Statements of Profit or Loss
Unaudited Interim Condensed Consolidated Statements of Comprehensive Income or Loss
Unaudited Interim Condensed Consolidated Statements of Financial Position
Unaudited Interim Condensed Consolidated Statements of Changes in Equity
Unaudited Interim Condensed Consolidated Statements of Cash Flows

		Three-month period ended		Nine-month period ended
	Note	09/30/2023	09/30/2022	09/30/2023	09/30/2022

Interest income and gains (losses) on financial instruments	6	1,732,699	987,248	4,488,378	2,459,704
Fee and commission income	6	404,059	319,619	1,135,687	881,991
Total revenue		2,136,758	1,306,867	5,624,065	3,341,695
Interest and other financial expenses	6	(537,649)	(459,889)	(1,431,287)	(1,140,392)
Transactional expenses	6	(56,774)	(44,475)	(152,349)	(126,959)
Credit loss allowance expenses	7	(627,506)	(375,474)	(1,692,735)	(989,688)
Total cost of financial and transactional services provided		(1,221,929)	(879,838)	(3,276,371)	(2,257,039)
Gross profit		914,829	427,029	2,347,694	1,084,656

Operating expenses
Customer support and operations	8	(127,295)	(90,249)	(348,419)	(229,523)
General and administrative expenses	8	(264,264)	(261,778)	(757,553)	(736,391)
Marketing expenses	8	(46,483)	(38,103)	(99,678)	(101,919)
Other expenses (income)	8	(65,242)	(31,792)	(162,893)	(103,979)
Total operating expenses		(503,284)	(421,922)	(1,368,543)	(1,171,812)

Profit (loss) before income taxes		411,545	5,107	979,151	(87,156)

Income taxes
Current taxes	29	(307,248)	(106,819)	(776,183)	(302,120)
Deferred taxes	29	198,739	109,545	466,685	322,255
Total income taxes		(108,509)	2,726	(309,498)	20,135

Profit (loss) for the period		303,036	7,833	669,653	(67,021)
Profit (loss) attributable to shareholders of the parent company		303,036	7,833	669,653	(66,965)
Profit (loss) attributable to non-controlling interests		-	-	-	(56)

Earnings (loss) per share – Basic	9	0.0638	0.0017	0.1416	(0.0143)
Earnings (loss) per share – Diluted	9	0.0624	0.0016	0.1381	(0.0143)
Weighted average number of outstanding shares – Basic (in thousands of shares)	9	4,752,303	4,683,835	4,730,812	4,671,761
Weighted average number of outstanding shares – Diluted (in thousands of shares)	9	4,856,845	4,824,031	4,848,203	4,671,761

		Three-month period ended		Nine-month period ended
	Note	09/30/2023	09/30/2022	09/30/2023	09/30/2022

Profit (loss) for period		303,036	7,833	669,653	(67,021)

Other comprehensive income or loss:
Effective portion of changes in fair value		11,729	8,088	27,414	(18,156)
Changes in fair value reclassified to profit or loss		6,811	3,529	(8,612)	9,404
Deferred income taxes		(4,222)	233	1,160	3,501
Cash flow hedge	19	14,318	11,850	19,962	(5,251)

Changes in fair value		2,903	(10,421)	11,407	(26,978)
Deferred income taxes		(2,259)	62	(3,052)	(2,985)
Financial assets at fair value through other comprehensive income		644	(10,359)	8,355	(29,963)

Currency translation on foreign entities		(112,323)	(37,457)	138,892	(23,440)

Total other comprehensive income that may be reclassified to profit or loss subsequently		(97,361)	(35,966)	167,209	(58,654)

Changes in fair value - own credit adjustment	20	(19)	(160)	49	3,169
Total other comprehensive income or loss that will not be reclassified to profit or loss subsequently		(19)	(160)	49	3,169
Total other comprehensive income (loss), net of tax		(97,380)	(36,126)	167,258	(55,485)
Total comprehensive income (loss) for the period, net of tax		205,656	(28,293)	836,911	(122,506)
Total comprehensive income (loss) attributable to shareholders of the parent company		205,656	(28,293)	836,911	(122,450)
Total comprehensive income (loss) attributable to non-controlling interests		-	-	-	(56)

	Note	09/30/2023	12/31/2022

Assets
Cash and cash equivalents	11	3,213,627	4,172,316
Financial assets at fair value through profit or loss		119,176	133,643
Securities	12	103,319	91,853
Derivative financial instruments	19	15,541	41,485
Collateral for credit card operations	22	316	305
Financial assets at fair value through other comprehensive income		8,605,769	9,947,138
Securities	12	8,605,769	9,947,138
Financial assets at amortized cost		20,857,390	13,684,484
Credit card receivables	13	10,495,524	8,233,072
Loans to customers	14	2,689,978	1,673,440
Compulsory and other deposits at central banks	15	5,849,454	2,778,019
Other receivables	16	1,600,735	521,670
Other financial assets		172,026	478,283
Securities	12	49,673	-
Other assets	17	807,622	541,903
Deferred tax assets	29	1,352,275	811,050
Right-of-use assets		26,027	18,982
Property, plant and equipment		35,932	27,482
Intangible assets	18	277,919	182,164
Goodwill	18	397,505	397,397
Total assets		35,693,242	29,916,559

	Note	09/30/2023	12/31/2022
Liabilities
Financial liabilities at fair value through profit or loss		214,758	218,174
Derivative financial instruments	19	52,775	9,425
Instruments eligible as capital	20	3,716	11,507
Repurchase agreements		158,267	197,242
Financial liabilities at amortized cost		28,037,940	23,448,892
Deposits	21	19,117,216	15,808,541
Payables to network	22	7,834,854	7,054,783
Borrowings and financing	23	1,085,870	585,568
Salaries, allowances and social security contributions		163,895	90,587
Tax liabilities		848,679	511,017
Lease liabilities		32,043	20,353
Provision for lawsuits and administrative proceedings	24	5,355	17,947
Deferred income	25	61,232	41,688
Deferred tax liabilities	29	75,220	41,118
Other liabilities	26	364,802	636,000
Total liabilities		29,803,924	25,025,776

Equity
Share capital	30	84	83
Share premium reserve	30	4,971,814	4,963,774
Accumulated gains	30	887,813	64,577
Other comprehensive income (loss)	30	29,607	(137,651)
Total equity		5,889,318	4,890,783
Total liabilities and equity		35,693,242	29,916,559

					Other comprehensive income (loss)
	Note	Share capital	Share premium reserve	Accumulated gains	Translation reserve	Cash flow hedge reserve	Financial Assets at FVTOCI	Own credit revaluation reserve	Total equity
Balances as of December 31, 2022		83	4,963,774	64,577	(108,356)	(7,486)	(22,298)	489	4,890,783
Profit for the nine-month period		-	-	669,653	-	-	-	-	669,653
Share-based compensation, net of shares withheld for employee taxes	10	-	-	132,050	-	-	-	-	132,050
Shares issued to service providers	30 / 34	-	-	21,533	-	-	-	-	21,533
Shares issued	30	1	(1)	-	-	-	-	-	-
Stock options exercised		-	8,041	-	-	-	-	-	8,041
Other comprehensive income or loss, net of tax	30
Cash flow hedge		-	-	-	-	19,962	-	-	19,962
Fair value changes - financial assets at FVTOCI		-	-	-	-	-	8,355	-	8,355
Currency translation on foreign entities		-	-	-	138,892	-	-	-	138,892
Own credit adjustment		-	-	-	-	-	-	49	49
Balances as of September 30, 2023		84	4,971,814	887,813	30,536	12,476	(13,943)	538	5,889,318

		Attributable to shareholders of the parent company
					Other comprehensive income (loss)
	Note	Share capital	Share premium reserve	Accumulated gains (losses)	Translation reserve	Cash flow hedge reserve	Financial Assets at FVTOCI	Own credit revaluation reserve	Total	Total non- controlling interests	Total equity
Balances as of December 31, 2021		83	4,678,585	(128,409)	(110,936)	1,487	1,741	(1,519)	4,441,032	1,509	4,442,541
Loss for the nine-month period		-	-	(66,965)	-	-	-	-	(66,965)	(56)	(67,021)
Share-based compensation, net of shares withheld for employee taxes	10	-	-	149,498	-	-	-	-	149,498	-	149,498
Stock options exercised		-	3,918	-	-	-	-	-	3,918	-	3,918
Shares issued on business acquisition	34	-	36,671	-	-	-	-	-	36,671	-	36,671
Shares issued on IPO over-allotment	30	-	247,998	-	-	-	-	-	247,998	-	247,998
Transactions costs from IPO over-allotment		-	(3,985)	-	-	-	-	-	(3,985)	-	(3,985)
Loss of control of subsidiary		-	-	-	-	-	-	-	-	(1,453)	(1,453)
Other comprehensive income or loss, net of tax
Cash flow hedge		-	-	-	-	(5,251)	-	-	(5,251)	-	(5,251)
Fair value changes - financial assets at FVTOCI		-	-	-	-	-	(29,963)	-	(29,963)	-	(29,963)
Currency translation on foreign entities		-	-	-	(23,440)	-	-	-	(23,440)	-	(23,440)
Own credit adjustment		-	-	-	-	-	-	3,169	3,169	-	3,169
Balances as of September 30, 2022		83	4,963,187	(45,876)	(134,376)	(3,764)	(28,222)	1,650	4,752,682	-	4,752,682

Name of the entity		Country
Fundo de Investimento Ostrum Soberano Renda Fixa Referenciado DI (“Fundo Ostrum”)		Brazil

	Weighted average	Upside	Base case	Downside

Credit card and lending ECL	2,252,390	2,114,749	2,236,227	2,457,604

	Three-month period ended 09/30/2023
	Customer support and operations	General and administrative expenses	Marketing expenses	Other expenses (income)	Total

Infrastructure and data processing costs	44,332	38,767	-	-	83,099
Credit analysis and collection costs	25,554	10,559	-	-	36,113
Customer services	20,001	1,852	-	-	21,853
Salaries and associated benefits	19,957	72,339	5,717	-	98,013
Credit and debit card issuance costs	8,108	14,597	-	-	22,705
Share-based compensation (note 10)	1,551	70,929	644	-	73,124
Specialized services expenses	-	26,367	-	-	26,367
Other personnel costs	4,032	10,971	610	-	15,613
Depreciation and amortization	3,722	15,472	-	-	19,194
Marketing expenses	-	-	39,512	-	39,512
Others (i)	38	2,411	-	65,242	67,691
Total	127,295	264,264	46,483	65,242	503,284

	Three-month period ended 09/30/2022
	Customer support and operations	General and administrative expenses	Marketing expenses	Other expenses (income)	Total

Infrastructure and data processing costs	37,521	42,167	-	-	79,688
Credit analysis and collection costs	15,358	11,020	-	-	26,378
Customer services	17,697	2,534	-	-	20,231
Salaries and associated benefits	11,891	73,827	4,063	-	89,781
Credit and debit card issuance costs	4,313	13,144	-	-	17,457
Share-based compensation (note 10)	-	78,857	-	-	78,857
Specialized services expenses	-	7,141	-	-	7,141
Other personnel costs	2,357	12,402	442	-	15,201
Depreciation and amortization	1,074	6,537	-	-	7,611
Marketing expenses	-	-	33,598	-	33,598
Others (i)	38	14,149	-	31,792	45,979
Total	90,249	261,778	38,103	31,792	421,922

	Nine-month period ended 09/30/2023
	Customer support and operations	General and administrative expenses	Marketing expenses	Other expenses (income)	Total

Infrastructure and data processing costs	130,269	126,587	-	-	256,856
Credit analysis and collection costs	63,994	28,908	-	-	92,902
Customer services	59,405	5,700	-	-	65,105
Salaries and associated benefits	55,937	207,791	15,853	-	279,581
Credit and debit card issuance costs	17,038	41,414	-	-	58,452
Share-based compensation (note 10)	1,551	197,021	644	-	199,216
Specialized services expenses	-	42,298	-	-	42,298
Other personnel costs	11,642	32,527	1,731	-	45,900
Depreciation and amortization	8,477	37,873	-	-	46,350
Marketing expenses	-	-	81,450	-	81,450
Others (i)	106	37,434	-	162,893	200,433
Total	348,419	757,553	99,678	162,893	1,368,543

	Nine-month period ended 09/30/2022
	Customer support and operations	General and administrative expenses	Marketing expenses	Other expenses (income)	Total

Infrastructure and data processing costs	86,377	105,250	-	-	191,627
Credit analysis and collection costs	35,766	30,742	-	-	66,508
Customer services	56,764	7,255	-	-	64,019
Salaries and associated benefits	32,247	215,244	11,002	-	258,493
Credit and debit card issuance costs	10,707	35,346	-	-	46,053
Share-based compensation (note 10)	-	217,650	-	-	217,650
Specialized services expenses	-	26,303	-	-	26,303
Other personnel costs	5,075	29,577	975	-	35,627
Depreciation and amortization	2,455	23,244	-	-	25,699
Marketing expenses	-	-	89,942	-	89,942
Others (i)	132	45,780	-	103,979	149,891
Total	229,523	736,391	101,919	103,979	1,171,812

	Nine-month period ended
SOPs	09/30/2023	WAEP (US$)	09/30/2022	WAEP (US$)

Outstanding on January 1	101,276,327	0.72	143,889,439	0.50
Exercised during the period	(34,164,203)	0.20	(34,295,264)	0.12
Forfeited during the period	(2,121,846)		(4,996,572)
Outstanding on September 30	64,990,278	0.98	104,597,603	0.71
Exercisable on September 30	56,209,172	0.86	80,856,134	0.51

	Nine-month period ended
RSUs	09/30/2023	WAGDFV (US$)	09/30/2022	WAGDFV (US$)

Outstanding on January 1	72,401,895	5.46	80,924,937	4.82
Granted during the period	34,148,933	4.78	28,591,823	5.59
Vested during the period	(22,138,817)	4.40	(18,894,329)	3.65
Forfeited during the period	(11,230,053)		(8,186,571)
Outstanding on September 30	73,181,958	5.49	82,435,860	5.34

	Note	09/30/2023	09/30/2022

Cash flows from operating activities
Reconciliation of profit (loss) to net cash flows from operating activities:
Profit (loss) for the nine-month period		669,653	(67,021)
Adjustments:
Depreciation and amortization	8	46,350	25,699
Credit loss allowance expenses	7	1,784,854	1,009,827
Deferred income taxes	29	(466,685)	(322,255)
Provision for lawsuits and administrative proceedings		3,470	(1,382)
Unrealized losses (gains) on other investments		21,720	(5,067)
Unrealized losses (gains) on financial instruments		42,995	14,063
Interest accrued		68,843	21,877
Share-based compensation		168,970	188,525
Others		14,025	5,879
		2,354,195	870,145

Changes in operating assets and liabilities:
Securities		1,279,337	(749,991)
Compulsory deposits and others at central banks		(3,087,936)	(972,188)
Credit card receivables		(5,060,879)	(3,502,428)
Loans to customers		(2,453,595)	(1,548,747)
Other receivables		(1,086,236)	(349,558)
Other assets		33,994	(210,427)
Deposits		3,326,450	4,611,994
Payables to network		943,798	1,067,635
Deferred income		19,649	6,110
Other liabilities		632,384	423,586

Interest paid		(64,962)	(20,295)
Income tax paid		(532,231)	(259,605)
Interest received		2,255,730	1,160,989
Cash flows (used in) generated from operating activities		(1,440,302)	527,220

	Note	09/30/2023	09/30/2022

Cash flows from investing activities
Acquisition of property, plant and equipment		(15,453)	(11,396)
Acquisition of intangible assets		(130,683)	(75,220)
Acquisition of subsidiary, net of cash acquired		-	(10,346)
Acquisition of securities - equity instruments		-	(2,500)
Cash flow (used in) generated from investing activities		(146,136)	(99,462)

Cash flows from financing activities
Issuance of shares for over-allotment in IPO		-	247,998
Transactions costs for over-allotment in IPO		-	(3,985)
Payments of securitized borrowings		-	(10,633)
Proceeds from borrowings and financing	23	459,154	353,093
Payments of borrowings and financing	23	(46,339)	(38,208)
Lease payments		(5,535)	(3,394)
Exercise of stock options	30	8,041	3,918
Cash flows (used in) generated from financing activities		415,321	548,789
Change in cash and cash equivalents		(1,171,117)	976,547

Cash and cash equivalents
Cash and cash equivalents - beginning of the period	11	4,172,316	2,705,675
Foreign exchange rate changes on cash and cash equivalents		212,428	10,571
Cash and cash equivalents - end of the period	11	3,213,627	3,692,793
Increase (decrease) in cash and cash equivalents		(1,171,117)	976,547

	09/30/2023		12/31/2022
Liability provision for taxes presented as salaries, allowances and social security contributions	58,524		32,554

	09/30/2023	12/31/2022

Voluntary deposits at central banks	1,452,450	2,451,150
Bank balances	1,209,723	1,506,727
Short-term investments	546,734	153,743
Reverse repurchase agreement in foreign currency	4,707	59,519
Other cash and cash equivalents	13	1,177
Total	3,213,627	4,172,316

	09/30/2023					12/31/2022
			Maturities
Financial instruments at FVTPL	Amortized Cost	Fair Value	No maturity	Up to 12 months	Over 12 months	Fair Value
Government bonds
Brazil	172	182	-	-	182	163
Total government bonds	172	182	-	-	182	163

Corporate bonds and other instruments
Bill of credit (LC)	6	6	-	6	-	138
Certificate of bank deposits (CDB)	1,346	1,319	-	862	457	3,712
Real estate and agribusiness letter of credit	138	138	-	38	100	1,197
Corporate bonds and debentures	16,981	16,506	-	-	16,506	46,680
Equity instrument (i)	12,446	22,010	22,010	-	-	22,082
Investment funds	11,976	11,976	11,976	-	-	-
Time deposit	50,192	51,162	-	51,162	-	905
Real estate and agribusiness certificate of receivables	22	20	-	-	20	16,976
Total corporate bonds and other instruments	93,107	103,137	33,986	52,068	17,083	91,690
Total financial instruments at FVTPL	93,279	103,319	33,986	52,068	17,265	91,853

	09/30/2023		12/31/2022
	Amounts in		Amounts in
Financial instruments at FVTPL	Original Currency	US$	Original Currency	US$
Currency:
Brazilian Reais	108,283	21,510	334,783	63,401
U.S. Dollars	59,794	59,794	6,370	6,370
Others (i)	6,714,005	22,015	1,826,954	22,082
Total		103,319		91,853

	09/30/2023	12/31/2022

Receivables - current (i)	5,379,105	4,236,235
Receivables - installments (i)	5,929,930	4,259,979
Receivables - revolving (ii)	1,007,120	770,011
Total receivables	12,316,155	9,266,225
Fair value adjustment - portfolio hedge (note 19)	23	(51)
Total	12,316,178	9,266,174

Credit card ECL allowance
Presented as deduction of receivables	(1,820,654)	(1,033,102)
Presented as "Other liabilities" (note 26)	(30,408)	(17,566)
Total credit card ECL allowance	(1,851,062)	(1,050,668)
Receivables, net	10,465,116	8,215,506
Total receivables presented as assets	10,495,524	8,233,072

	09/30/2023		12/31/2022
	Amount	%	Amount	%
Receivables not overdue due in:
<= 30 days	5,408,231	43.9%	4,036,414	43.5%
30 < 60 days	2,047,905	16.6%	1,604,056	17.3%
> 60 days	3,546,283	28.8%	2,823,966	30.5%
Total receivables not overdue	11,002,419	89.3%	8,464,436	91.3%

Receivables overdue by:
<= 30 days	381,494	3.1%	237,531	2.6%
30 < 60 days	144,601	1.2%	91,604	1.0%
60 < 90 days	113,896	0.9%	74,917	0.8%
> 90 days	673,745	5.5%	397,737	4.3%
Total receivables overdue	1,313,736	10.7%	801,789	8.7%
Total	12,316,155	100.0%	9,266,225	100.0%

	09/30/2023
	Gross Exposures	%	Credit Loss Allowance	%	Coverage Ratio (%)
Stage 1	10,073,332	81.8%	573,922	31.0%	5.7%

Stage 2	1,245,821	10.1%	400,741	21.6%	32.2%
Absolute Trigger (Days Late)	311,648	25.0%	217,048	54.2%	69.6%
Relative Trigger (PD deterioration)	934,173	75.0%	183,693	45.8%	19.7%

Stage 3	997,002	8.1%	876,399	47.4%	87.9%
Total	12,316,155	100.0%	1,851,062	100.0%	15.0%

	09/30/2023	12/31/2022
Lending to individuals	3,090,736	1,976,499
Loan ECL allowance	(401,328)	(300,223)
Total receivables	2,689,408	1,676,276
Fair value adjustment - portfolio hedge (note 19)	570	(2,836)
Total	2,689,978	1,673,440

	09/30/2023	12/31/2022

Compulsory deposits (i)	2,778,024	2,026,516
Reserve at central bank - Instant payments (ii)	1,762,557	751,503
Reserve at central bank - Electronic money (iii)	1,308,873	-
Total	5,849,454	2,778,019

	09/30/2023	12/31/2022

Deferred expenses (i)	206,908	157,439
Taxes recoverable	352,216	245,967
Advances to suppliers and employees (ii)	136,980	22,662
Prepaid expenses	84,326	61,744
Judicial deposits (note 24)	3,195	18,864
Other assets	23,997	35,227
Total	807,622	541,903

	09/30/2023			12/31/2022
	Cost	Accumulated amortization	Net value	Cost	Accumulated amortization	Net value
Intangibles related to acquisitions	107,181	(41,042)	66,139	107,179	(24,802)	82,377
Other Intangibles	244,847	(33,067)	211,780	118,952	(19,165)	99,787
Total	352,028	(74,109)	277,919	226,131	(43,967)	182,164

	09/30/2023	12/31/2022
	Goodwill

Easynvest's acquisition	381,233	381,125
Cognitect's acquisition	831	831
Spin Pay's acquisition	5,060	5,060
Olivia's acquisition	10,381	10,381
Total	397,505	397,397

	09/30/2023
	Goodwill	Intangible assets
		Intangibles related to acquisitions	Other Intangibles	Total Intangibles
Balance at beginning of the period	397,397	78,047	104,117	182,164
Additions	-	-	126,468	126,468
Disposals	-	-	(11,049)	(11,049)
Amortization	-	(10,810)	(14,792)	(25,602)
Effect of changes in exchange rates (OCI)	108	(1,098)	7,036	5,938
Balance at end of the period	397,505	66,139	211,780	277,919

	09/30/2023
		Fair values
	Notional amount	Assets	Liabilities
Derivatives classified as fair value through profit or loss
Interest rate contracts – Futures	1,152,422	105	11
Foreign currency exchange rate contracts – Futures	411,895	111	1,663
Interest rate contracts – Swaps	213,182	101	3,978
Foreign currency exchange rate contracts - Non-deliverable forwards (NDF)	220,100	3,696	46,084
Warrants	100,000	6,188	-

Derivatives held for hedging
Designated as cash flow hedge
Foreign currency exchange rate contracts – Futures	221,836	12	894
Equity - Total Return Swap (TRS)	96,838	5,328	-

Designated as portfolio hedge
DI - Future - notes 13 and 14	405,844	-	145
Total	2,822,117	15,541	52,775

	09/30/2023
	Up to 3 months	3 to 12 months	Over 12 months	Total
Assets
Interest rate contracts – Futures	685,537	388,149	78,736	1,152,422
Foreign currency exchange rate contracts – Futures	633,731	-	-	633,731
Interest rate contracts – Swaps	-	-	10,582	10,582
Foreign currency exchange rate contracts - Non-deliverable forwards (NDF)	190,100	20,000	-	210,100
Warrants	-	100,000	-	100,000
Total assets	1,509,368	508,149	89,318	2,106,835

Liabilities
Interest rate contracts – Swaps	-	202,600	-	202,600
Equity - Total Return Swap (TRS)	8,645	88,193	-	96,838
Foreign currency exchange rate contracts - Non-deliverable forwards (NDF)	10,000	-	-	10,000
DI - Future - notes 13 and 14	189,935	200,041	15,868	405,844
Total liabilities	208,580	490,834	15,868	715,282
Total	1,717,948	998,983	105,186	2,822,117

	09/30/2023
	Hedge object	Fair value adjustment to the hedge object		Derivative hedge instrument
	Hedge object	Asset	Liability	Fair value variation
Interest rate risk
Interest rate contracts - Future - portfolio hedge - credit card	8,424	23	-	(16)
Interest rate contracts - Future - portfolio hedge - loan	277,519	570	-	(601)
Total	285,943	593	-	(617)

	09/30/2023				12/31/2022
	Up to 1 year	1 to 3 years	Above 3 years	Total	Total
Considering the reporting date fair value of the hedged item:
Expected cash disbursement for corporate and social contributions	40,903	52,698	12,091	105,692	59,058
Total	40,903	52,698	12,091	105,692	59,058

	09/30/2023	12/31/2022
Financial liabilities at fair value through profit or loss
Instruments eligible as capital	3,716	11,507
Total	3,716	11,507

	09/30/2023	12/31/2022
Bank receipt of deposits (RDB)	17,602,515	14,273,959
Deposits in electronic money	1,350,035	1,534,582
Bank certificate of deposit (CDB)	164,666	-
Total	19,117,216	15,808,541

	09/30/2023	12/31/2022

Payables to credit card network (i)	7,733,983	7,054,783
Payables to clearing houses	100,871	-
Total	7,834,854	7,054,783