Banco Inter (BIDI4) and Uber negotiate partnership in Brazil, according to Reuters

According to Folha de S.Paulo newspaper and Reuters news agency, "Banco Inter and Uber are in negotiations to establish a partnership in the area of financial services." This move "demonstrates the work of the Japanese group SoftBank to integrate their business in Latin America" according to Reuters.

According to Folha de S.Paulo, "SoftBank, which is a shareholder of Uber, has acquired a stake of approximately 15% in Banco Inter this year." These negotiations aim to boost Banco Inter's business in Brazil.

In Brazil, the partnership can target both Uber's more than 600,000 drivers and Banco Inter's more than 3 million customers.

Banco Inter (BIDI4) presents a 90.9% increase in net income in the second quarter of 2019

Banco Inter, a Belo Horizonte-based financial institution and one of the first digital banks in Brazil, posted a 90.9% increase in net income in the quarter over the same period last year to R $ 32.9 million.

Return on equity was 13.7%, 3.2 percentage points higher than in the second quarter of 2018.

The bank's total assets were R$ 6.754 billion, up 45.7% over the same period last year, and the expanded loan portfolio stood at R$ 3.963 billion, up 37.2% over the second quarter of last year.