XP Inc. reported a net profit of R$ 1.2 billion for the fourth quarter of 2024, marking a 16% increase year-over-year and a 2% increase from the previous quarter. The company's gross revenue reached R$ 4.7 billion, up 10% from the same period in 2023, while net revenue was R$ 4.4 billion, an 11% annual increase. Assets under custody grew to R$ 1.2 trillion, with a 1% increase in the quarter and a 9% annual increase. XP's client base expanded to 4.7 million, with a 3% rise from the previous year. The company's efficiency ratio reached a record low of 34.7%, indicating improved operational performance. Earnings before taxes (EBT) were R$ 1.3 billion, with an EBT margin of 28.7%. Despite these gains, XP experienced a slowdown in net new money, with R$ 25 billion in new funds attracted in the quarter, a 17% decrease from the previous quarter but a 37% increase year-over-year. The company's workforce grew by 12% to 7,400 employees, and the number of advisors increased by 5% to 18,200. For the full year of 2024, XP's net profit was R$ 4.5 billion, up 17%, and its net revenue totaled R$ 18 billion, a 15% increase.