JPMorgan-backed Brazilian digital bank C6 posts 8.5% net profit increase in 2025

SAO PAULO, Feb 3 (Reuters) - Brazilian digital bank C6, which is backed by JPMorgan Chase JPM.N, posted a net profit of 2.46 billion reais ($470.28 million) in 2025, up 8.5% from a year prior, as Chief Executive Officer Marcelo Kalim voiced optimism about 2026.

BY THE NUMBERS

• Net revenue rose 15% to 9.2 billion reais in 2025, while operating expenses fell 9% to 4.2 billion reais.

• Return on average equity (ROAE) was 45% last year, down from 60% in 2024.

• Provision for doubtful debts increased to 2.5 billion reais in 2025 from 1.9 billion a year prior.

• The lender's credit portfolio grew 49% year-on-year to 89.3 billion reais in December.

• Delinquency above 90 days stood at 2.9% at end-December, up from 2.6% a year earlier.

2026 OUTLOOK

• CEO Marcelo Kalim told Reuters that figures for 2026 could likely mirror those seen in 2025.

• He pointed out in an interview that the credit portfolio's size provides "peace of mind," with the bank starting the year with a high level of revenue and profitability.

• Kalim noted that the portfolio may not grow in the same range as last year, but emphasized that, in nominal terms, it should show expansion of the same magnitude.

• The executive added that defaults may increase, but stressed that the credit portfolio should remain quite healthy.

($1 = 5.2309 reais)