JPMorgan-backed Brazilian digital bank C6 posts first-ever profit in Q1

C6 posted a 416 million real profit in the first quarter, compared to a $57.3 million loss a year earlier. The Brazilian digital bank, which has around 30 million clients, had a $131.23 million loss last year.

In an interview on Monday, JPMorgan's Chief Executive Officer of International Consumer Banking Sanoke Viswanathan said the bank is already a strong partner with C6 management and works very closely with founder Kalim. C6 plans to keep its focus in Brazil on the medium term and has no plans to expand to other Latin American countries like some of its competitors.

Kalim said the bank is also trying to increase accounts held by small and medium-sized businesses, a group C6 began to target over the past six months.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.

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