XP reports Q1 2026 results, announces new CFO

1 min read Updated on 09 Jun 2026, 01:50 PM

Reviewed by

Naman SScanX News Team

AI Summary

XP Inc. reported Q1 2026 financial results with client assets reaching 2.1 trillion reais and gross revenues of 4.9 billion reais. The company announced a new 1 billion reais share buyback program and 500 million reais in dividends. Additionally, Gustavo Vallejo was appointed as the new CFO, succeeding Victor Mansour.

*this image is generated using AI for illustrative purposes only.

XP Inc. reported strong financial performance for the first quarter of 2026, with client assets reaching 2.1 trillion reais, representing a 21% year-over-year growth. Gross revenues for the quarter stood at 4.9 billion reais, an 8% increase compared to the same period last year. The company announced a new share buyback program worth 1 billion reais and declared dividends totaling 500 million reais, payable in June, underscoring its commitment to shareholder returns.

Financial Performance

Net income for the quarter rose 7% year-over-year to 1.3 billion reais, while EBIT grew 8% to 1.4 billion reais. The company achieved a return on equity (ROE) of 21.7% and maintained a capital ratio of 20.7%. Diluted earnings per share (EPS) increased 9% year-over-year, outpacing net income growth due to the execution of the buyback program.

Metric	Q1 2026 Value	Year-Over-Year Change
Client Assets	2.1 trillion reais	21%
Gross Revenues	4.9 billion reais	8%
Net Income	1.3 billion reais	7%
EBIT	1.4 billion reais	8%
ROE	21.7%	-

Operational Highlights

The company ended the period with 18.3 thousand advisors, a 1% increase year-over-year, and an active client base of 4.8 million, up 2% year-over-year. Net new money for the quarter totaled approximately 14 billion reais, with retail contributing 19 billion reais and corporate and institutional segments recording negative 4 billion reais. The retail segment revenue grew 10% year-over-year to 3.8 billion reais, while the wholesale banking division, which now includes the institutional business, grew 26% year-over-year.

Leadership Transition

XP announced a leadership transition, appointing Gustavo Vallejo as the new CFO. Vallejo succeeds Victor Mansour, who will remain a partner and support new ventures within the XP ecosystem. The transition is part of a planned strategy to bring in expertise aligned with the company's expanding banking and capital markets products.

Outlook

Despite global market volatility and widening credit spreads in March, XP maintains confidence in achieving double-digit growth for the year. The company noted that while spreads stabilized in May, it does not expect a full recovery in the second quarter. Management emphasized that its diversified revenue base and strategic initiatives position it well to navigate the current macroeconomic environment.