XP (XP) 20-F26 Apr 242022 FY Annual report (foreign)Financial data

Company Profile

Cover

Cover	12 Months Ended
Cover	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-39155
Entity Registrant Name	XP Inc.
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	20, Genesis Close
Entity Address, Address Line Two	30th floor
Entity Address, City or Town	Grand Cayman, George Town
Entity Address, Country	KY
Entity Address, Postal Zip Code	KY-1-1208
Title of 12(b) Security	Class A common shares, par value US$0.00001 per share
Trading Symbol	XP
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0001787425
Document Financial Statement Error Correction [Flag]	false
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	Av. Chedid Jafet, 75, Torre Sul
Entity Address, Address Line Two	30th floor
Entity Address, City or Town	Vila Olímpia
Entity Address, Country	BR
Entity Address, Postal Zip Code	04551-065
Contact Personnel Name	Bruno Constantino Alexandre dos Santos
City Area Code	+55 (11)
Local Phone Number	3075-0429
Class A Common Share
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	436,776,080
Class B Common Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	112,717,094

Audit Information

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers Auditores Independentes Ltda.
Auditor Firm ID	1351
Auditor Location	São Paulo, Brazil

Consolidated balance sheets

Consolidated balance sheets R$ in Thousands, $ in Thousands	Dec. 31, 2023 BRL (R$)	Dec. 31, 2022 BRL (R$)
Statement of financial position [abstract]
Cash	R$ 3943307	R$ 3553126
Financial assets	229,197,214	177,681,987
Fair value through profit or loss	127,015,678	96,730,159
Securities	103,282,212	87,513,004
Derivative financial instruments	23,733,466	9,217,155
Fair value through other comprehensive income	44,062,950	34,478,668
Securities	44,062,950	34,478,668
Evaluated at amortized cost	58,118,586	46,473,160
Securities	6,855,421	9,272,103
Securities purchased under agreements to resell	14,888,978	7,603,820
Securities trading and intermediation	2,932,319	3,271,000
Accounts receivable	681,190	597,887
Loan operations	28,551,935	22,211,161
Other financial assets	4,208,743	3,517,189
Other assets	7,811,962	5,760,811
Recoverable taxes	245,214	163,248
Rights-of-use assets	281,804	258,491
Prepaid expenses	4,418,263	4,240,107
Other	2,866,681	1,098,965
Deferred tax assets	2,104,128	1,611,882
Investments in associates and joint ventures	3,108,660	2,271,731
Property and equipment	373,362	310,894
Goodwill and Intangible assets	2,502,045	844,182
Total assets	249,040,678	192,034,613
Financial liabilities	171,237,146	127,708,578
Fair value through profit or loss	45,208,490	22,134,674
Securities	20,423,074	13,529,265
Derivative financial instruments	24,785,416	8,605,409
Evaluated at amortized cost	126,028,656	105,573,904
Securities sold under repurchase agreements	33,340,511	31,790,091
Securities trading and intermediation	16,943,539	16,062,697
Financing instruments payable	60,365,590	43,683,629
Accounts payables	948,218	617,394
Borrowings	2,199,422	1,865,880
Other financial liabilities	12,231,376	11,554,213
Other liabilities	58,266,331	47,172,782
Social and statutory obligations	1,146,127	968,119
Taxes and social security obligations	559,647	365,419
Retirement plans liabilities and insurance liabilities	56,409,075	45,733,815
Provisions and contingent liabilities	97,678	43,541
Other	53,804	61,888
Deferred tax liabilities	86,357	111,043
Total liabilities	229,589,834	174,992,403
Equity attributable to owners of the Parent company	19,449,352	17,035,735
Issued capital	26	24
Capital reserve	19,189,994	19,156,382
Other comprehensive income	376,449	(133,909)
Treasury shares	(117,117)	(1,986,762)
Non-controlling interest	1,492	6,475
Total equity	19,450,844	17,042,210
Total liabilities and equity	R$ 249040678	R$ 192034613

Consolidated statements of inco

Consolidated statements of income and of comprehensive income - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
Net revenue from services rendered	R$ 6532005	R$ 5940456	R$ 6196465
Net income (loss) from financial instruments at amortized cost and at fair value through other comprehensive income	1,572,522	1,145,395	(1,559,464)
Net income from financial instruments at fair value through profit or loss	6,755,569	6,261,539	7,440,111
Total revenue and income	14,860,096	13,347,390	12,077,112
Operating costs	(4,398,923)	(3,871,096)	(3,430,109)
Selling expenses	(169,486)	(138,722)	(227,483)
Administrative expenses	(5,461,147)	(5,641,233)	(4,692,698)
Other operating income (expenses), net	10,638	256,944	324,354
Expected credit losses	(360,859)	(94,159)	(92,560)
Interest expense on debt	(617,478)	(402,303)	(135,732)
Share of profit or (loss) in joint ventures and associates	73,507	(12,165)	(7,710)
Income before income tax	3,936,348	3,444,656	3,815,174
Income tax credit / (expense)	(36,957)	135,555	(222,714)
Net income for the year	3,899,391	3,580,211	3,592,460
Items that can be subsequently reclassified to income
Foreign exchange variation of investees located abroad	(41,160)	(19,645)	20,977
Gains (losses) on net investment hedge	34,603	17,252	(18,758)
Changes in the fair value of financial assets at fair value through other comprehensive income	556,381	218,106	(549,017)
Other comprehensive income (loss) for the period, net of tax	549,824	215,713	(546,798)
Total comprehensive income for the year	4,449,215	3,795,924	3,045,662
Net income attributable to:
Owners of the Parent company	3,898,702	3,579,050	3,589,416
Non-controlling interest	689	1,161	3,044
Total comprehensive income attributable to:
Owners of the Parent company	4,448,526	3,794,763	3,042,618
Non-controlling interest	R$ 689	R$ 1161	R$ 3044
Earnings per share from total income attributable to the ordinary equity holders of the company
Basic earnings per share (in R$ per share)	R$ 7.2220	R$ 6.4438	R$ 6.4211
Diluted earnings per share (in R$ per share)	R$ 7.1639	R$ 6.2461	R$ 6.2588

Consolidated statements of chan

Consolidated statements of changes in equity - BRL (R$) R$ in Thousands	Total	Issued Capital	Additional paid-in capital	Other Reserves	Other comprehensive income and Other	Retained Earnings	Treasury shares	Total	Non-Controlling interest
Balance at beginning of period at Dec. 31, 2020	R$ 10897614	R$ 23	R$ 6821176	R$ 3842766	R$ 230644	R$ 0	R$ 0	R$ 10894609	R$ 3005
Net income for the year	3,592,460					3,589,416		3,589,416	3,044
Other comprehensive income, net	(546,798)				(546,798)			(546,798)
Private issuance of shares	112,642		0	112,642				112,642
Share based plan	561,457			561,455	0			561,455	2
Other changes in equity	(22,781)			(4,140)	(18,409)			(22,549)	(232)
Treasury shares	(171,939)						(171,939)	(171,939)
Treasury shares	0
Transfer to capital reserves	0			3,589,416		(3,589,416)
Dividends distributed	(3,026)								(3,026)
Balance at end of period at Dec. 31, 2021	14,419,629	23	6,821,176	8,102,139	(334,563)	0	(171,939)	14,416,836	2,793
Net income for the year	3,580,211					3,579,050		3,579,050	1,161
Other comprehensive income, net	215,713				215,713			215,713
Private issuance of shares	70,031	1	70,030	0				70,031
Share based plan	584,772		95,241	488,746				583,987	785
Other changes in equity	(11,503)			0	(15,059)			(15,059)	3,556
Treasury shares	(1,814,823)						(1,814,823)	(1,814,823)
Treasury shares	(1,814,823)
Transfer to capital reserves	0			3,579,050		(3,579,050)
Dividends distributed	(1,820)								(1,820)
Balance at end of period at Dec. 31, 2022	17,042,210	24	6,986,447	12,169,935	(133,909)	0	(1,986,762)	17,035,735	6,475
Net income for the year	3,899,391					3,898,702		3,898,702	689
Other comprehensive income, net	549,824				549,824			549,824
Private issuance of shares	2,097,326	2	1,886,172	211,152				2,097,326
Share based plan	365,715		330,000	35,388				365,388	327
Other changes in equity	(43,612)			0	(39,466)			(39,466)	(4,146)
Treasury shares	(915,859)		(2,785,504)				1,869,645	(915,859)
Transfer to capital reserves	0			3,898,702		(3,898,702)
Dividends distributed	(3,544,151)			(3,542,298)				(3,542,298)	(1,853)
Balance at end of period at Dec. 31, 2023	R$ 19450844	R$ 26	R$ 6417115	R$ 12772879	R$ 376449	R$ 0	R$ 117117	R$ 19449352	R$ 1492

Consolidated statements of cash

Consolidated statements of cash flows - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Income before income tax	R$ 3936348	R$ 3444656	R$ 3815174
Adjustments to reconcile income before income taxes
Depreciation of property, equipment and right-of-use assets	118,603	110,248	68,618
Amortization of intangible assets	133,810	95,629	163,112
Loss or write-off of property, equipment, intangible assets and leases, net	32,266	20,805	20,367
Share of profit or (loss) in joint ventures and associates	(73,507)	12,165	7,710
Income from share in the net income of associates measured at fair value	52,403	54,301	(47,291)
Expected credit losses on financial assets	360,859	78,945	92,560
(Reversal of) Provision for contingencies, net	9,940	12,305	5,325
Net foreign exchange differences	(470,788)	(301,697)	506,510
Share based plan	365,715	584,772	561,457
Interest accrued	637,640	429,222	181,731
Gains (losses) on disposals of investments	26,367	0	0
Changes in assets and liabilities
Securities (assets and liabilities)	(12,743,703)	(28,309,585)	(21,857,025)
Derivative financial instruments (assets and liabilities)	1,700,236	(1,550,061)	674,837
Securities trading and intermediation (assets and liabilities)	1,209,000	(1,423,398)	(5,086,154)
Securities purchased under agreements to resell	(4,495,605)	1,937,077	(2,269,321)
Accounts receivable	(53,247)	(157,056)	37,160
Loan operations	(5,596,362)	(9,416,502)	(8,918,608)
Prepaid expenses	22,722	(257,357)	(2,589,213)
Other assets and other financial assets	(437,106)	(3,358,515)	(674,697)
Securities sold under repurchase agreements	711,818	5,508,746	(5,557,999)
Accounts payable	326,344	(308,824)	(133,576)
Financing instruments payable	12,478,690	17,563,948	14,408,581
Social and statutory obligations	126,692	(54,093)	354,764
Tax and social security obligations	17,407	(91,326)	278,609
Retirement plans liabilities	10,675,260	13,812,415	18,533,487
Other liabilities and other financial liabilities	(347,790)	3,938,385	4,271,361
Cash from/(used in) operations	8,724,012	2,375,205	(3,152,521)
Income tax paid	(402,842)	(370,862)	(783,816)
Contingencies paid	(52,667)	(2,521)	(2,565)
Interest paid	(141,202)	(197,937)	(81,427)
Net cash flows from/(used in) operating activities	8,127,301	1,803,885	(4,020,329)
Investment activities
Acquisition of intangible assets	(130,219)	(82,412)	(217,569)
Acquisition of property and equipment	(66,004)	(44,563)	(135,444)
Acquisition of subsidiaries, net of cash acquired	770,887	(69,532)	(40,857)
Investment in associates and joint ventures	(65,444)	(174,773)	(756,857)
Disposal of investments	29,589	0	0
Net cash flows from/(used in) investing activities	538,809	(371,280)	(1,150,727)
Financing activities
Proceeds from borrowings	2,252,550	0	1,570,639
Treasury shares	(915,859)	(1,814,823)	0
Acquisitions of debt securities issued	373,481	1,890,500	4,191,280
Payments of borrowings and lease liabilities	(1,966,674)	(101,716)	(76,371)
Payment of debt securities	(590,029)	(175,999)	(177,826)
Dividends paid	(3,542,298)	0	0
Transactions with non-controlling interests	(4,146)	3,556	(231)
Dividends paid to non-controlling interests	(1,853)	(1,820)	(3,026)
Proceeds from SPAC issuance of shares	0	0	1,134,797
Net cash flows from/(used in) financing activities	(4,394,828)	(200,302)	6,639,262
Net increase/(decrease) in cash and cash equivalents	4,271,282	1,232,303	1,468,206
Cash and cash equivalents at the beginning of the fiscal year	4,967,480	3,751,861	2,660,388
Effects of exchange rate changes on cash and cash equivalents	(28,278)	(16,684)	(376,733)
Cash and cash equivalents at the end of the fiscal year	9,210,484	4,967,480	3,751,861
Cash	3,943,307	3,553,126	2,485,641
Securities purchased under agreements to resell	2,760,296	646,478	1,071,328
Interbank certificate deposits	67,985	252,877	194,892
Other deposits at Central Bank	R$ 2438896	R$ 514999	R$ 0

Operations

Operations	12 Months Ended
Operations	Dec. 31, 2023
Operations [Abstract]
Operations	Operations XP Inc. (the “Company”) is a Cayman Island exempted company with limited liability, incorporated on August 29, 2019. The registered office of the Company is 20, Genesis Close, in George Town, Grand Cayman. XP Inc. is currently the entity which is registered with the U.S. Securities and Exchange Commission (“SEC”). The common shares are trading on the Nasdaq Global Select Market (“NASDAQ-GS”) under the symbol “XP”. XP Inc. is a holding company controlled by XP Control LLC, which holds 66.5% of voting rights and is controlled by a group of individuals. XP Inc. and its subsidiaries (collectively, “Group” or “XP Group”) is a leading, technology-driven financial services platform and a trusted provider of low-fee financial products and services in Brazil. XP Group are principally engaged in providing its customers, represented by individuals and legal entities in Brazil and abroad, various financial products, services, digital content and financial advisory services, mainly acting as broker-dealer, including securities brokerage, retirement plans, commercial and investment banking products such as loan operations, transactions in the foreign exchange markets and deposits, through our brands that reach clients directly and through network of Independent Financial Advisers (“IFAs”). These consolidated financial statements were approved by the Board of Director’s meeting on April 22, 2024 and updated by subsequent events through April 26, 2024 as approved by the executive management. 1.1 Share buy-back program In May 2022, the Board of Directors approved a share buy-back program. Under the program, XP Inc. may repurchase up to the amount in dollars equivalent to R$1.0 billion of its outstanding Class A common shares over a period beginning on May 12, 2022, continuing until the earlier of the completion of the repurchase or May 12, 2023, depending upon market conditions. As of November 04, 2022, the Board of Directors approved an amendment to the share buy-back program. Under the amended program, XP Inc may repurchase up to the amount in dollars equivalent to R$2.0 billion of its outstanding Class A common shares (therefore, an increase of the maximum amount of R$1.0 billion compared to the original program). The repurchase limit of R$2.0 billion was reached on March 31, 2023, and, therefore, the share buy-back program terminated. At the end of the share buy-back program, the Company repurchased 25,037,192 shares (equivalent to R$2,059 million or US$394 million), which were acquired at an average price of US$15.76 per share, with prices ranging from US$10.69 to US$24.85. 1.2 Share purchase agreement with Itaú On June 8, 2022, XP Inc. signed a share purchase agreement with Itaú Unibanco. Under this agreement, XP purchased 1,056,308 outstanding Class B common shares from Itaú Unibanco, equivalent to approximately US$24 million (R$117 million), or US$22.65 per share – the same price for which Itaú Unibanco sold 6,783,939 Class A shares on June 7, 2022 to third parties. These shares are held in treasury. On November 10, 2022 XP Inc. signed a share purchase agreement with Itaúsa S.A. Under this agreement, XP Inc. purchased 5,500,000 outstanding Class A common shares from Itaúsa S.A., equivalent to approximately U$105 million (R$562 million), or U$19.10 per share (R$102.14 per share). XP Inc. utilized its existing cash to fund this share repurchase. Those transactions are not part of the share buy-back program (Note 1.1) announced by XP Inc. on May 11, 2022. 1.3 Cancellation of treasury shares On April 5, 2023, the Company’s Board of Directors approved the cancellation of 31,267,095 Class A shares, totaling an amount of R$ 2,785,504 (5.6% of total issued shares, on this date) held by the Company in treasury (see note 25(c)). Total issued shares count, on April 5, 2023, went from 560,534,012 to 529,266,917 after cancellation. 1.4 Termination of shareholders agreement between XP Control LLC, General Atlantic (XP) Bermuda, Iupar Group, ITB Holding Ltd. and Itaú Unibanco Holding S.A. On July 6, 2023, our shareholders’ agreement executed between XP Control LLC, General Atlantic (XP) Bermuda, Iupar Group, ITB Holding Ltd. and Itaú Unibanco Holding S.A., was terminated; it was originally expected to continue until October 2026. As a result of the termination of the shareholders agreement, Iupar Group will no longer have the right to nominate members to XP Inc’s board of directors, which was reduced from 11 to 9 members. 1.5 Corporate reorganization In order to improve corporate structure, Group's capital and cash management, XP Inc is conducting entity reorganizations, as follows: i) Inversion of financial institutions in Brazil. At the end of the reorganization XP CCTVM will become a wholly owned subsidiary of Banco XP. As of December 31, 2023, up to the date of the consolidated financial statements, the corporate reorganization is not fully concluded and is expected to be completed by the end of 2024. There are some steps which require approval from Brazilian Central Bank and other regulators which may cause the reorganization to be concluded later than expected. ii) Reorganization of international operations. The entities XP Holding International LLC, XP Advisory US and XP Holding UK Ltd, which are no longer wholly owned subsidiaries of XP Investimentos S.A. and are now directly owned by XP Inc. The transaction was completed on October 20, 2023. No material impacts on Group’s financial position and results of operations are expected due to the previously described corporate reorganization.

Basis of preparation of the fin

Basis of preparation of the financial statements and changes to the Group’s accounting policies	12 Months Ended
	Dec. 31, 2023
Disclosure Of Basis Of Preparation Of Financial Statements Abstract [Abstract]
Basis of preparation of the financial statements	Basis of preparation of the financial statements and changes to the Group’s accounting policies (i) Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”), currently described as "IFRS Accounting Standards” by the IFRS Foundation. The consolidated financial statements have been prepared on a historical cost basis, except for financial instruments that have been measured at fair value. The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group's accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 4. The consolidated financial statements are presented in Brazilian reais (“R$”),our functional currency, and all amounts disclosed in the financial statements and notes have been rounded off to the nearest thousand currency units unless otherwise stated. The balance sheet is presented in order of liquidity of assets and liabilities. The timing of their realization or settlement is dependent not just on their liquidity, but also on management’s judgements on expected movements in market prices and other relevant aspects. Certain reclassifications of prior period amounts have been made to conform to the current period presentation. (ii) New or revised standards, interpretations and amendments Certain new accounting standards, interpretations and amendments became effective for the reporting period beginning January 1, 2023. Possible impacts are measured by the Group, and it concluded there is not material impact to the consolidated financial statements. IFRS 17 – Insurance Contracts: Requires insurance liabilities to be measured at a current fulfillment value and provides a more uniform measurement and presentation approach for all insurance contracts. The Group evaluated the impacts of applying this standard and concluded that it is not material to its consolidated financial statements. Amendments to IAS 1 – Classification of liabilities as current or non-current: The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current, being effective for annual reporting periods beginning on or after January 1, 2024. Amendments to IAS 1 – Non-current liabilities with Covenants: The amendment clarifies how conditions that an entity must comply within twelve months after the reporting period affect the classification of liabilities, being effective for annual reporting periods beginning on or after January 1, 2024. Amendments to IAS 12 – International Tax Reform – Pillar Two Model Rules: The amendment provides a temporary exception of requirements to the initial application regarding deferred tax assets and liabilities related to pillar two income taxes for interim consolidated financial statements but is mandatory for annual reporting periods beginning January 1, 2023. The Group evaluated the impacts of applying these amendments and concluded there are no impacts on the Group´s consolidated financial statements for the current year. (iii) Basis of consolidation The consolidated financial statements comprise the consolidated balance sheets of the Group as of December 31, 2023 and 2022 and the consolidated statements of income and comprehensive income, consolidated statements of cash flows and consolidated statements of changes in equity for each of the years ended December 31, 2023, 2022 and 2021. a) Subsidiaries Subsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. The acquisition method of accounting is used to account for business combinations by the Group (refer to Note 5(ii)). Intercompany transactions, balances and unrealized gains on transactions between Group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of income and of comprehensive income, statement of changes in equity and balance sheet respectively. b) Associates Associates are companies in which the investor has a significant influence but does not hold control. Investments in these companies are initially recognized at cost of acquisition and subsequently accounted for using the equity method. Investments in associates include the goodwill identified upon acquisition, net of any cumulative impairment loss. Under the equity method of accounting, the investments are initially recognized at cost and adjusted thereafter to recognize the Group’s share of the post-acquisition profits or losses of the investee in the Group’s income statement, and the Group’s share of movements in other comprehensive income of the investee in the Group’s other comprehensive income. Dividends received or receivable from associates are recognized as a reduction in the carrying amount of the investment. Unrealized gains on transactions between the Group and its associates are eliminated to the extent of the Group’s interest in these entities. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the Group. If its interest in the associates decreases, but the Group retains significant influence or joint control, only the proportional amount of the previously recognized amounts in other comprehensive income is reclassified in income, when appropriate. c) Interests in associates measured at fair value The Group has investments in associates measured at fair value in accordance with item 18 of IAS 28 – Investments in Associates and Joint Ventures. These investments are held through XP FIP Managers and XP FIP Endor, which are venture capital organizations. In determining whether the funds meet the definition of venture capital organizations, management considers the investment portfolio features and objectives. The portfolio classified in this category has the objective to generate growth in the value of its investments in the medium term and have an exit strategy. Additionally, the performance of these portfolios is evaluated and managed considering a fair value basis of each investment. (iv) Segment reporting In reviewing the operational performance of the Group and allocating resources, the Chief Operating Decision Maker of the Group (“CODM”), who is the Group’s Chief Executive Officer (“CEO”) and the Board of Directors (“BoD”), represented by statutory directors holders of ordinary shares of the immediate parent of the Company, reviews selected items of the statement of income and of comprehensive income. The CODM considers the whole Group as a single operating and reportable segment, monitoring operations, making decisions on fund allocation and evaluating performance based on a single operating segment. The CODM reviews relevant financial data on a combined basis for all subsidiaries. Disaggregated information is only reviewed at the revenue level (Note 28), with no corresponding detail at any margin or profitability levels. The Group’s revenue, results and assets for this one reportable segment can be determined by reference to the consolidated statement of income and of comprehensive income and consolidated balance sheet. See Note 28 (c) for a breakdown of revenues and income and selected assets by geographic location. (v) Foreign currency translation (a) Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in Brazilian Reais (“R$”), which is the Group functional and presentation currency. The functional currency for all the Company’s subsidiaries in Brazil is also the Brazilian reais. Certain subsidiaries outside Brazil have different functional currencies, including US Dollar ("USD") and Pound Sterling (“GBP”). (b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized in the statement of income. They are deferred in equity if they relate to qualifying cash flow hedges and qualifying net investment hedges or are attributable to part of the net investment in a foreign operation. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in the statement of income as part of the fair value gain or loss. (c) Group companies The results and financial position of foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; • income and expenses for each statement of income and statement of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); and • all resulting exchange differences are recognized in other comprehensive income. On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognized in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit and loss, as part of the gain or loss on sale.

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
Summary of significant accounting policies	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies This note provides a description of the significant accounting policies adopted in the preparation of these consolidated financial statements in addition to other policies that have been disclosed in other notes to these consolidated financial statements. These policies have been consistently applied to all periods presented, unless otherwise stated. (i) Business combinations The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the: • fair values of the assets transferred; • liabilities incurred to the former owners of the acquired business; • equity interests issued by the Group; • fair value of any asset or liability resulting from a contingent consideration arrangement; and • fair value of any pre-existing equity interest in the subsidiary. Identifiable assets acquired, and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expensed as incurred. The excess of the consideration transferred, amount of any non-controlling interest in the acquired entity and acquisition-date fair value of any previous equity interest in the acquired entity, over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognized directly in the statement of income as a bargain purchase. Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Contingent consideration, when applicable, is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in the statement of income. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquirer is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in the statement of income. (ii) Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. 1) Financial assets Initial recognition and measurement On initial recognition, financial assets are classified as instruments measured at amortized cost, fair value through other comprehensive income (“FVOCI”) or fair value through profit and loss (“FVPL”). The classification of financial assets at initial recognition is based on either (i) the Group’s business model for managing the financial assets and (ii) the instruments’ contractual cash flows characteristics. For a financial asset to be classified and measured at amortized cost or FVOCI, it needs to give rise to cash flows that are 'Solely Payments of Principal and Interest' (the "SPPI" criterion) on the principal amount outstanding. This assessment is referred to as the SPPI Test and is performed at an instrument level. The Group's business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model considers whether the group’s objective is to receive cash flows from holding the financial assets, from selling the assets or a combination of both. Purchases or sales of financial assets that require delivery of assets within a time frame set by regulation or market practice (regular way trades) are recognized on the trade date (i.e., the date that the Group commits to purchase or sell the asset). Classification and subsequent measurement (i) Financial assets at FVPL Financial assets at FVPL include Securities, financial assets designated upon initial recognition at FVPL, or financial assets mandatorily required to be measured at fair value. This category includes Securities and Derivative financial instruments, including equity instruments which the Group had not irrevocably elected to classify at FVOCI. Financial assets are classified as fair value through profit and loss if they either fail the contractual cash flow test or in the Group’s business model are acquired for the purpose of selling or repurchasing in the near term. Financial assets may be designated at FVPL on initial recognition if doing so eliminates, or significantly reduces, an accounting mismatch. Derivative financial instruments, including separated embedded derivatives, are also classified as fair value through profit and loss unless they are designated as effective hedging instruments. The fair value determination for over-the-counter ("OTC") derivatives include components which reflect the counterparty's credit risk (CVA - Credit Valuation Adjustment) and the funding cost above the risk-free rate (FVA - Funding Valuation Adjustment). Financial assets with cash flows that do not meet the SPPI criteria are classified and measured at FVPL, irrespective of the business model. Financial assets at FVPL are carried in the statement of financial position at fair value with net changes in fair value recognized in the statement of income. The net gain or loss recognized in the statement of income includes any dividend or interest earned on the financial asset. A derivative embedded in a hybrid contract, with a financial liability or non-financial host, is separated from the host and accounted for as a separate derivative if: (i) the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; (ii) and the hybrid contract is not measured at FVPL. Embedded derivatives are measured at fair value with changes in fair value recognized in the statement of income. Reassessment only occurs if there is either a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the FVPL category. A derivative embedded within a hybrid contract containing a financial asset host is not accounted for separately. The financial asset host together with the embedded derivative is required to be classified in its entirety as a financial asset at fair value through profit or loss. Investments held in trust account During the prior period presented in these consolidated financial statements, the Group had a certain class of securities owned by one of our subsidiaries, which qualify as financial instruments, primarily due to their short-term nature. These securities are classified as FVPL. The Group’s investments held in the trust account were comprised of money market funds and are recognized at fair value with the changes in fair value recognized in the consolidated statements of income. The estimated fair value of the investments held in the trust account was determined using available market information. (ii) Financial assets at FVOCI The Group measures financial assets at FVOCI if both of the following conditions are met: • The financial asset is held within a business model with the objective of both holding to collect contractual cash flows and to sell. • The contractual terms of the financial asset give rise on specified dates to cash flows that meet the SPPI criteria. For financial assets at FVOCI, interest income, foreign exchange revaluation and impairment losses or reversals are recognized in the statement of income. The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to profit and loss. The Group's financial assets at FVOCI includes certain debt instruments. Upon initial recognition, the Group can elect to classify irrevocably equity investments at FVOCI when they meet the definition of equity under IAS 32 - "Financial Instruments: Presentation" and are not financial assets at FVPL. The classification is determined on an instrument-by-instrument basis. Dividends are recognized as income in the profit and loss when the right of payment has been established, except when the Group benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at FVOCI are not subject to impairment assessment. The Group has no equity instruments that have been irrevocably classified under this category. (iii) Financial assets at amortized cost A financial asset is measured at amortized cost if both of the following conditions are met: • The financial asset is held within a business model with the objective to hold the financial asset in order to collect contractual cash flows. • The contractual terms of the financial asset give rise on specified dates to cash flows that meet the SPPI criteria. Financial assets at amortized cost are subsequently measured using the Effective Interest Rate ("EIR") method and are subject to impairment. Gains and losses are recognized in the statement of income when the asset is derecognized, modified or impaired. The Group's financial assets at amortized cost mainly includes ‘Securities’, 'Securities purchased under agreements to resell', 'Securities trading and intermediation', ‘Loan operations’, 'Accounts receivable' and 'Other financial assets’. The Group reclassifies financial assets only when its business approach for managing those assets changes. Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized when: • The contractual rights to receive cash flows from the asset have expired. • The Group has transferred its contractual rights to receive cash flows from the asset or has assumed a contractual obligation to pay the received cash flows in full without material delay to a third party under a "pass-through" arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset; or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Group has transferred its contractual rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay. Expected credit loss on financial assets The Group recognizes expected credit losses ("ECLs") for all financial assets not held at FVPL. ECLs are based on internal statistical models that are monitored and reviewed by the credit risk area. Due to the features of the credit and credit card portfolio, the internal statistic models are modeled by the credit risk area using specific parameters from historical data of those products were the ECL are measured by inputs of PD (Probability of Default), LGS (Loss Given Default) and EAD (Exposure at Default). For the credit and credit card portfolio, the Group classifies assets in three stages to measure the expected credit loss, in which the financial assets migrate from one stage to another in accordance with the changes in credit risk. Stage 1: all financial assets are initially recognized in this stage. It is understood that a financial asset in this stage does not present a significant increase in risk since initial recognition. The provision for this asset represents the expected loss resulting from possible noncompliance in the next 12 months. Stage 2: increase of the change in the risk of a default occurring based on internal models since initial recognition or overdue 30 days. If a significant increase in the risk is identified from the initial recognition, and no deterioration is realized, the financial asset falls within this stage. In this case, the amount related to the provision for expected loss reflects the estimated loss of the financial asset's remaining life (lifetime). Stage 3: overdue 90 days. The Group considers a financial asset in default when contractual payments are 90 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before considering any credit enhancements held by the Group. When a financial asset that migrated to stages 2 and 3 shows an improvement in credit risk, that financial asset can return to stage 1 as long as it meets the minimum cure period established by the credit risk area evaluating internal product data. Financial assets are written off when there is no reasonable expectation of recovery, such as a debtor failing to engage in a repayment plan with the company. The Group categorizes a loan or receivable for write-off when a debtor fails to make contractual payments more than 360 days past due. Where loans or receivables have been written off, the Group continues to engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognized in profit or loss. For accounts receivables, and other financial contract assets, the Group applies a simplified approach to calculating ECLs. Therefore, the Group does not track changes in credit risk but instead recognizes a loss allowance based on lifetime ECLs. The Group has established a provision that is based on its historical credit loss. For debt instruments at FVOCI, the Group applies the low credit risk simplification at every reporting date, the Group evaluates whether the debt instrument is considered to have low credit risk using all reasonable and supportable information that is available without undue cost or effort. In making that evaluation, the Group reassesses the internal credit rating of the debt instrument. In addition, the Group considers that there has been a significant increase in credit risk when contractual payments are more than 30 days past due. The Group, through its risk management area, applies policies, methods and procedures to mitigate its exposure to credit risk arising from insolvency attributable to counterparties. These policies, methods and procedures are applied in the grant and re-evaluated on a monthly basis using variables that held identify risk. The procedures applied to identify, measure, control and reduce exposure to credit risk are based on the individual level or grouped by similarity. Risk management for structured credit operations customers is carried out through analysis complemented by decision-making support tools based on internal risk assessment models. Standardized customers risk management, that is, which does not qualify as structured operations, is based on automated decision-making and internal risk assessment models, complemented, when the model is not comprehensive or precise enough, by teams of analysts specialized in this type of risk. Credits related to standardized customers are normally considered non-recoverable when they have a historical experience of losses and delays of more than 90 days. 2) Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at FVPL, amortized cost or as Derivative financial instruments designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of amortized cost, net of directly attributable transaction costs. The Group's financial liabilities include 'Securities’, 'Derivative financial instruments', 'Securities purchased under agreements to resell', 'Securities trading and intermediation', long-term debts such as 'Borrowings’ and ‘Financing Instruments payable – Debt securities', 'Accounts payables' and 'Other financial liabilities’. Classification and subsequent measurement (i) Financial liabilities at FVPL Financial liabilities at FVPL include securities loaned and derivatives financial instruments designated upon initial recognition as at FVPL. Financial liabilities are classified as securities loaned if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as fair value through profit and loss unless they are designated as effective hedging instruments. Gains or losses on liabilities at fair value through profit and loss are recognized in the statement of income. Financial liabilities designated upon initial recognition at FVPL are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. Securities loaned, and derivative financial instruments are classified as fair value through profit and loss and recognized at fair value. (ii) Financial liabilities designated at FVPL Classification and subsequent measurement The Group applied the fair value option as an alternative measurement for selected financial liabilities. Financial liabilities can be irrevocably designated as measured at FVPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases, or a group of financial instruments is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy. The amount of change in the fair value of the financial liabilities designated at FVPL that is attributable to changes in the credit risk of that liabilities shall be presented in other comprehensive income. See more information in Note 7(e). (iii) Amortized cost After initial recognition, these financial liabilities are subsequently measured at amortized cost using the Effective Interest Method (“EIR”) method. Gains and losses are recognized in profit and loss when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the EIR. This category generally applies to Securities sold under repurchase agreements, ‘Securities trading and intermediation’, 'Borrowings', 'Financing Instruments Payable', 'Accounts payables', ‘Lease liabilities’ and 'Other financial liabilities'. (iv) Commitments subject to possible redemption XPAC Acquisition Corp. redeemable shares The Group accounted for the common stock subject to redemption in cash held by the non-controlling interest holders of XPAC Acquisition Corp. as a financial liability measured at amortized cost. The instrument is initially recognized at fair value, net of derivative warrant liabilities component and the corresponding eligible transaction costs. The warrant component issued to the non-controlling interest holders of XPAC Acquisition Corp. were separately accounted as derivatives and measured at fair value with the changes in fair value recorded in the statement of income. On July 27, 2023, XPAC Acquisition Corp. was deconsolidated from XP Inc's Financial Statements due to the Purchase and Sponsor Handover Agreement (see note 5(ii)(c)(i)) and the redeemable shares were derecognized from the Group’s financial statements. Derecognition A financial liability is derecognized when the obligation under the liability is discharged, canceled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of income. 3) Fair value of financial instruments The fair value of financial instruments actively traded in organized financial markets is determined based on purchase prices quoted in the market at the close of business at the reporting date, without deducting transaction costs. The fair value of financial instruments for which there is no active market is determined by using measurement techniques. These techniques may include the use of recent market transactions (on an arm's length basis); reference to the current fair value of another similar instrument; analysis of discounted cash flows or other measurement models (see note 34). 4) Derivative financial instruments and hedging activities - IFRS 9 Derivative financial instruments are financial contracts, the value of which is derived from the value of the underlying assets, interest rates, indexes or currency exchange rates. Derivatives are initially recognized at fair value on the date a derivative contract is entered into, and they are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument and, if so, the nature of the item being hedged. The group designates certain derivatives as either: • hedges of the fair value of recognized assets or liabilities or a firm commitment (fair value hedges), or • hedges of a net investment in a foreign operation (net investment hedges). • hedges of expected cash flows to be paid on recognized liabilities (cash flow hedges). At inception of the hedge relationship, the group documents the economic relationship between hedging instruments and hedged items, including whether changes in the cash flows of the hedging instruments are expected to offset changes in the cash flows of hedged items. The group documents its risk management objective and strategy for undertaking its hedge transactions. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to profit and loss over the remaining period until maturity, using a recalculated effective interest rate. a) Hedge ineffectiveness Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. To evaluate the effectiveness and to measure the ineffectiveness of such strategies, The Group uses the Dollar Offset Method. The Dollar Offset Method is a quantitative method that consists of comparing the change in fair value or cash flows of the hedging instrument with the change in fair value or cash flows of the hedged item attributable to the hedged risk. b) Derivative warrant liabilities The Group evaluates if the warrants issued in connection with the Initial Public Offering (the “Public Warrants”) and the Private Placement Warrants issued by XPAC Acquisition Corp. are derivatives or contain features that qualify as embedded derivatives in accordance with IFRS 9 – Financial Instruments. The Group’s derivatives instruments are recorded at financial instruments measured at fair value through profit or loss. Accordingly, the Group recognizes the warrants as financial liabilities at fair value and remeasures the warrants at fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Group’s consolidated statements of income. The fair value has been measured based on the listed market price of such warrants. On July 27, 2023, XPAC Acquisition Corp. was deconsolidated from XP Inc's Financial Statements due to the Purchase and Sponsor Handover Agreement (see note 5(ii)(c)(i)) and the warrant liabilities expired. (iii) Cash and cash equivalents Cash is not subject to a significant risk of change in value and are held for the purpose of meeting short-term cash commitments and not for investments or other purposes. Transactions are considered short-term when they have maturities in three months or less from the date of acquisition. For purposes of consolidated statement of cash flows, cash equivalents refer to collateral held securities purchased under agreements to resell, bank deposit certificates measured at fair value through profit and loss and other deposits that are readily convertible into a known cash amount and for which are no subject to a significant risk of change in value. (iv) Securities purchased under agreements to resell and obligations related to securities sold under repurchase agreements The Group has purchased securities with resale agreement (resale agreements) and sold securities with repurchase agreement (repurchase agreement) of financial assets. Resale and repurchase agreements are accounted for under Securities purchased under agreements to resell and Securities sold under repurchase agreements, respectively. The difference between the sale and repurchase prices is treated as interest and recognized over the life of the agreements using the effective interest rate method. The financial assets accepted as collateral in our resale agreements can be used by us, if provided for in the agreements, as collateral for our repurchase agreements or can be sold. (v) Securities trading and intermediation (receivable and payable) Refers to transactions at B3 S.A. – Brasil, Bolsa, Balcão (“B3”) on behalf of and on account of third parties. Brokerages on these transactions are classified as revenues and service provision expenses are recognized at the time of the transactions. These balances are offset, and the net amount shown in the balance sheet when, and only when, there is a legal and enforceable right to offset and the intention to liquidate them on a net basis, or to realize the assets and settle the liabilities simultaneously. Amounts due from and to customers represent receivables for securities sold and payables for securities purchased that have been contracted for but not yet settled or delivered on the balance sheet date respectively. The due from customers balance is held for collection. These amounts are subdivided into the following items: • Cash and settlement records - Represented by the registration of transactions carried out on the stock exchanges on its own behalf and for customers, which includes any asset liquidity event; and • Debtors/Creditors pending settlement account - debtor or creditor balances of customers, in connection with transactions with fixed income securities, shares, commodities and financial assets, pending settlement as of the statement of reporting date. Sales transactions are offset and, in the event, the final amount is a credit, it will be recorded in liabilities, on the other hand if this amount is debt, it will be recorded in assets, provided that the offset balances refer to the same counterparty. • Customer’s cash on investment account - represents customer’s cash balances that are held in XP CCTVM. These amounts are recognized initially at fair value and subsequently measured at amortized cost. At each reporting date, the Group shall measure the loss allowance on amounts due from customers at an amount equal to the lifetime expected credit losses if the credit risk has increased significantly since initial recognition. If, at the reporting date, the credit risk has not increased significantly since initial recognition, the Group shall measure the loss allowance at an amount equal to 12-month expected credit losses. Significant financial difficulties of the customer, probability that the customer will enter bankruptcy or financial reorganization, and default in payments are all considered indicators that a loss allowance may be required. If the credit risk increases to the point that it is considered to be credit impaired, interest income will be calculated based on the gross carrying amount adjusted for the loss allowance. A significant increase in credit risk is defined by management as any contractual payment which is more than 30 days past due. Any contractual payment which is more than 90 days past due is considered credit impaired. The estimated credit losses for brokerage clients and related activity were immaterial for all periods presented. (vi) Loan operations Loan operations consist in arrangements under which clients can borrow stipulated amounts under defined terms and conditions. They are initially measured at its fair value plus transaction costs that are directly attributable to the acquisition and subsequently measured at amortized cost using the effective interest method, less expected credit loss. See note 10 for further information about the Group’s accounting for loan operations and note 3(ii) for a description of the Group’s expected losses on financial assets. Interest income from these financial assets is included in net income from financial instruments at amortized cost using the effective interest rate method. Any gain or loss arising on derecognition of the loan operations is recognized directly in the statement of income and presented in Note 14. Expected credit losses are presented as a separate line item in the statement of income. (vii) Prepaid expenses Prepaid expenses are recognized as an asset in the balance sheet. These expenditures include mainly incentives to IFAs, prepaid software licenses, certain professional services and insurance premiums. Prepaid expenses are amortized in profit and loss in the period in which the benefits of such items are realized. (viii) Leases Right-of-use assets The Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Group is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. Right-of-use assets are subject to impairment. Lease liabilities At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating a lease, if the lease term reflects the Group exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expenses in the period on which the event or

Significant accounting judgemen

Significant accounting judgements, estimates and assumptions	12 Months Ended
	Dec. 31, 2023
Significant and Estimated Judgements [Abstract]
Significant accounting judgements, estimates and assumptions	Significant accounting judgements, estimates and assumptions The preparation of the financial statements according to accounting policies described in Note 3 requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts for assets, liabilities, revenues and expenses. Actual results may differ from these estimates. Information about uncertainties on assumptions and estimates that have a significant risk of resulting in a material adjustment in the future fiscal year is included as follows: (i) Estimation fair value of certain financial assets The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The Group uses its judgment to select a variety of methods and make assumptions that are mainly based on market conditions existing at the end of each reporting period. (ii) Expected credit losses on financial assets The expected credit losses for financial assets are based on assumptions about risk of default and expected loss rates. The Group uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on the Group’s history and existing market conditions, as well as forward-looking estimates at the end of each reporting period. (iii) Recognition of deferred tax asset for carried-forward tax losses Deferred tax assets are recognized for all unused tax losses to the extent that sufficient taxable profit will likely be available to allow the use of such losses. Significant judgment from management is required to determine the amount of deferred tax assets that can be recognized, based on the likely timing and level of future taxable profits, together with future tax planning strategies. The Group has concluded that the deferred assets will be recoverable using the estimated future taxable income based on the approved business plans and budgets for the subsidiaries where a deferred tax asset has been recognized. (iv) Property and equipment and intangible assets useful lives Property and equipment and intangible assets include the use of estimates to determine the useful life for depreciation and amortization purposes. Useful life determination requires estimates in relation to the expected technological advances and alternative uses of assets. There is a significant element of judgment involved in making technological development assumptions, since the timing and nature of future technological advances are difficult to predict. (v) Impairment of non-financial assets, including goodwill The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. Intangible assets with indefinite useful lives and goodwill are tested for impairment annually at the level of the CGU, as appropriate, and when circumstances indicate that the carrying value may be impaired. Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. Technological obsolescence, suspension of certain services and other changes in circumstances that demonstrate the need for recording a possible impairment are also regarded in estimates. (vi) Provision for contingent liabilities Provisions for the judicial and administrative proceedings are recorded when the risk of loss of administrative or judicial proceedings is considered probable and the amounts can be reliably measured, based on the nature, complexity and history of lawsuits and the opinion of legal counsel internal and external. Provisions are made when the risk of loss of judicial or administrative proceedings is assessed as probable and the amounts involved can be measured with sufficient accuracy, based on best available information. They are fully or partially reversed when the obligations cease to exist or are reduced. Given the uncertainties arising from the proceedings, it is not practicable to determine the timing of any outflow (cash disbursement). (vii) Share-based payments Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including the expected life of the share option or appreciation right. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events.

Group structure

Group structure	12 Months Ended
Group structure	Dec. 31, 2023
Disclosure of subsidiaries [abstract]
Group structure	5. Group structure (i) Subsidiaries The following are the direct and indirect interests of Company in its subsidiaries for the purposes of these consolidated financial statements: % of Group’s interest (i) Entity name Country of incorporation Principal activities 2023 2022 2021 Directly controlled XP Investimentos S.A. Brazil Holding 100.00 % 100.00 % 100.00 % XPAC Sponsor LLC Cayman Special Purpose Acquisition (SPAC) Sponsor 100.00 % 100.00 % 100.00 % XProject LTD Cayman Holding 100.00 % 100.00 % 100.00 % XP Holding International LLC USA International financial holding 100.00 % 100.00 % 100.00 % XP Advisory US USA Investment advisor 100.00 % 100.00 % 100.00 % XP Holding UK Ltd UK International financial holding 100.00 % 100.00 % 100.00 % XP Controle 6 Participações S.A. (iv) Brazil Holding 100.00 % — — Indirectly controlled XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A. Brazil Broker-dealer 100.00 % 100.00 % 100.00 % XP Vida e Previdência S.A. (iii) Brazil Retirement plans and insurance 100.00 % 100.00 % 100.00 % Banco XP S.A. Brazil Multipurpose bank 100.00 % 100.00 % 100.00 % XP Controle 3 Participações S.A. Brazil Financial Holding 100.00 % 100.00 % 100.00 % XPE Infomoney Educação Assessoria Empresarial e Participações Ltda. Brazil Digital content services 100.00 % 100.00 % 100.00 % Tecfinance Informática e Projetos de Sistemas Ltda. Brazil Rendering of IT services 99.70 % 99.73 % 99.73 % XP Corretora de Seguros Ltda. Brazil Insurance broker 99.99 % 99.99 % 99.99 % XP Gestão de Recursos Ltda. Brazil Asset management 95.50 % 95.60 % 94.90 % XP Finanças Assessoria Financeira Ltda. Brazil Investment consulting service 99.99 % 99.99 % 99.99 % Infostocks Informações e Sistemas Ltda. Brazil Mediation of information systems 100.00 % 99.99 % 99.99 % XP Advisory Gestão Recursos Ltda. Brazil Asset management 99.53 % 99.55 % 99.54 % XP Vista Asset Management Ltda. Brazil Asset management 99.99 % 99.99 % 99.50 % XP Controle 4 Participações S.A. Brazil Insurance holding 100.00 % 100.00 % 100.00 % XP Investments UK LLP UK Inter-dealer broker and Organized Trading Facility (OTF) 100.00 % 100.00 % 100.00 % XP Holding UK Ltd UK International financial holding 100.00 % 100.00 % 100.00 % XP Investments US, LLC USA Broker-dealer 100.00 % 100.00 % 100.00 % XP PE Gestão de Recursos Ltda. Brazil Asset management 98.10 % 98.70 % 98.70 % Antecipa S.A. Brazil Receivables financing market 100.00 % 100.00 % 100.00 % XP Allocation Asset Management Ltda. Brazil Asset management 99.97 % 99.99 % 99.99 % XP Eventos Ltda. Brazil Media and events 100.00 % 100.00 % 99.90 % DM10 Corretora de Seguros Ltda. Brazil Insurance broker 100.00 % 100.00 % 100.00 % XP Comercializadora de Energia Ltda. Brazil Energy trading 100.00 % 100.00 % 100.00 % XPAC Acquisition Corp. (vi) Cayman Special Purpose Acquisition (SPAC) — 20.00 % 20.00 % XP Distribuidora de Títulos e Valores Mobiliários Brazil Securities dealer 100.00 % 100.00 % 100.00 % Instituto de Gestão e Tecnologia da Informação Ltda. Brazil Educational content services 100.00 % 100.00 % 100.00 % Xtage Intermediação S.A. Brazil Digital assets 100.00 % 100.00 % 100.00 % XP Administradora de Benefícios Ltda. Brazil Individual health plan intermediation 100.00 % 100.00 % — BTR Administração e Corretagem de Seguros S.A. (ii) Brazil Retirement plans and insurance 100.00 % 100.00 % — XP Representação Seguros Ltda. (iv) Brazil Insurance broker 100.00 % — — Banco Modal S.A. (ii) Brazil Multipurpose bank 100.00 % — — Modal Assessoria Financeira Ltda. (ii) Brazil Investment consulting services 100.00 % — — % of Group’s interest (i) Entity name Country of incorporation Principal activities 2023 2022 2021 Modal Distribuidora de Títulos e Valores Mobiliários Ltda. (ii) Brazil Securities dealer 100.00 % — — Modalmais Treinamento e Desenvolvimento Ltda. (ii) Brazil Professional training services 100.00 % — — Modal Corretora de Seguros Ltda. (ii) Brazil Insurance broker 100.00 % — — Eleven Serviços de Consultoria e Análise S.A. (ii) Brazil Investment consulting services 100.00 % — — Banking and Trading Desenvolvimento de Sistemas Ltda. (“Carteira Global”) (ii) Brazil Softwares development services 100.00 % — — Refinaria de Dados – Análise de Dados Ltda. (ii) Brazil Digital content services 100.00 % — — Hum Bilhão Educação Financeira Ltda. (ii) Brazil Digital content services 100.00 % — — Vaivoa Educação Financeira Ltda. (ii) Brazil Digital content services 100.00 % — — Modal As a Service S.A. (ii) Brazil Financial services 100.00 % — — Galapos Consultoria e Participações Ltda. (ii) Brazil Consulting services 100.00 % — — W2D Tecnologia e Soluções Ltda. (ii) Brazil Rendering of IT services 100.00 % — — XP Controle 5 Participações Ltda. Brazil Holding 100.00 % 96.00 % 92.00 % XP Sports Asset Management Ltda. (ii) Brazil Asset management 100.00 % — — Carteira Online Controle de Investimentos Ltda. – ME (v) Brazil Investment consolidation platform — 100.00 % 99.99 % Track Índices Consultoria Ltda. Brazil Index provider — — 100.00 % Habitat Capital Partners (v) Brazil Asset management — 99.99 % — Consolidated investments funds Aetos Energia Fundo de Investimento em Direitos Creditórios Brazil Investment fund 100.00 % — — Consignado Público XP Fundo de Investimento em Direitos Creditórios Brazil Investment fund 100.00 % — — Falx Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Gladius Fundo de Investimento Multimercado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Scorpio Debentures Incentivadas Fundo de Investimento Multimercado Crédito Privado Brazil Investment fund 100.00 % 100.00 % 100.00 % SMF Fundo de Investimento Multimercado Crédito Privado Brazil Investment fund 100.00 % — — Javelin Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Frade Fundo de Investimento em Cotas de Fundos de Investimento em Direitos Creditórios NP Brazil Investment fund 100.00 % 100.00 % 100.00 % Frade III Fundo de Investimento em Cotas de Fundo de Investimento Multimercado Crédito Privado Brazil Investment fund 100.00 % 100.00 % 100.00 % Coliseu Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % NIMROD Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % XP High Yield Fund SP Cayman Investment fund 100.00 % 100.00 % 100.00 % XP International Fund SPC Cayman Investment fund 100.00 % 100.00 % 100.00 % XP Managers Fundo de Investimento em Participações Multiestratégia Brazil Investment fund 100.00 % 100.00 % 100.00 % XP Alesia Fund SP CL Shares - Brazil Internacional Fund SPC. Cayman Investment fund 100.00 % 100.00 % 100.00 % Newave Fundo de Investimento em Participações Multiestratégia (v) Brazil Investment fund — 100.00 % 100.00 % Endor Fundo de Investimento em Participações Multiestratégia Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % XP Phalanx CT Fund Cayman Investment fund 100.00 % 100.00 % — MM Macadâmia FIM CP IE (ii) Brazil Investment fund 100.00 % — — MM Hedge Icon (ii) Nassau Investment fund 99.37 % — — Suécia I Fundo de Investimento Multimercado (ii) Brazil Investment fund 100.00 % — — Suécia II Fundo de Investimento Multimercado (ii) Brazil Investment fund 100.00 % — — (i) The percentage of participation represents the Group’s interest in total capital and voting capital of its subsidiaries. (ii) New subsidiaries acquired in 2023 and 2022. See further details in Note 5 (ii) Business combinations, below. (iii) Subsidiary incorporated in 2018 for operating in the retirement plans and life insurance business, which is regulated by the Superintendency of Private Insurance (SUSEP) in Brazil. (iv) New subsidiaries and investment funds incorporated in the year. (v) Subsidiaries and investment funds closed or consolidated by other funds/companies during the year. (vi) Subsidiaries which the Group holds or has held the operational control. The operational control refers to relevant rights the Company have over the subsidiary, that includes, among other topics, the right to nominate the directors and propose the target entity for merger. (ii) Business combinations and other developments (a) Acquisitions in 2023 (i) Banco Modal S.A. On January 6, 2022, XP Inc entered into a binding agreement to acquire up to 100% of Banco Modal's total shares, in a non-cash equity exchange transaction. The transaction was approved by Administrative Council for Economic Defense (CADE) in July 2022 and by Brazilian Central Bank (BACEN) in June 2023. The closing occurred on July 1, 2023, the date on which the Group obtained control of 704,200,000 issued shares of Banco Modal S.A. Under the terms of this transaction, on the closing date, Banco Modal's former shareholders received 18,717,771 of newly issued XP Inc's BDRs at the price of R$ 112.05 per unit of BDRs, paid in consideration for the acquisition of 100% of Banco Modal's shares. This quantity of BDRs reflects the initial consideration of 19.5 million BDRs adjusted for the interest on equity amount of R$82,052, distributed by Banco Modal between the signing date of the binding agreement and the closing date of the transaction. On the settlement date with Banco Modal's former shareholders, the transaction was recorded in accordance with Banco Modal's net assets fair value as of July 1, 2023, with an allocation of the purchase price between (i) the amount of fair value of the identifiable assets acquired and liabilities assumed and (ii) the goodwill arising at this date, corresponding to the difference between the total consideration transferred and the fair value of identifiable assets acquired and liabilities assumed. The total consideration transferred corresponds to the fair value of the 18,717,771 XP Inc BDR's at the closing date for an amount of R$ 2,097,326. The goodwill is R$ 1,232,547 and is attributable to the workforce and the high profitability of the acquired business. The table below shows, on the closing date of the transaction, the fair value attributed to each of the identified intangible assets not recorded in the acquiree's balance sheet, as well as the fair value measurement method and their useful lives: Identified assets at the acquisition date Amount Method Expected useful life Retail client portfolio 169,828 Multi-Period Excess Earnings 6 years, 11 months Institutional client portfolio 51,629 Multi-Period Excess Earnings 4 years, 6 months Core deposits 134,273 With and Without 9 years, 6 months Trademarks 29,909 Relief-from-Royalty 5 years Softwares 4,311 Cost Approach 5 years Total 389,950 For the period from July 1, 2023 to December 31, 2023, Banco Modal contributed R$ 93,611 to XP Inc's net income and R$ 343,258 to XP Inc's net revenues. If the acquisition date was on the beginning of the reporting period, XP Inc's combined unaudited net income and revenue for the year ended December 31, 2023, would be R$ 3,595,461 and R$ 14,896,966, respectively. The table below shows the fair value of the net assets acquired and the preliminary allocation of the purchase price consideration (including goodwill arising on the acquisition), as well as the impacts on the Group's cash flows: Fair value of net assets acquired July 1, 2023 Assets Cash and cash equivalents 770,887 Financial assets 4,295,122 Investments in associates and joint ventures 765 Property and equipment 39,532 Intangible assets 67,663 Other assets 751,682 Total assets 5,925,651 Liabilities Financial liabilities 4,667,146 Other liabilities 783,675 Total liabilities 5,450,821 Net assets at fair value 474,829 Identified assets Client portfolios 221,457 Core deposits 134,273 Trademarks 29,909 Software 4,311 Total identified assets 864,779 Goodwill determination Purchase consideration transferred 2,097,326 (Less) fair value of identified assets (864,779) Goodwill 1,232,547 Analysis of cash flow on acquisition Net cash acquired with the subsidiary 770,887 Issuance of shares – XP Inc (non-cash) — Net of cash flow on acquisition (investing activities) 770,887 (b) Acquisitions in 2022 (ii) Habitat On February 25, 2022, we entered into a binding agreement to acquire 100% of the total capital of Habitat Capital Partners Asset Management, a manager focused on real estate funds. The asset was created with a focus on real estate operations outside the major Brazilian centers and with a strategy of monitoring the entire process in-house, from securitization to control of collection processes. The closing occurred in May 2022 and the total consideration is R$65,353. The fair value of the identifiable assets acquired and liabilities assumed as of the acquisition date were: Habitat Assets Cash 275 Accounts receivable 4,977 Securities 240 Property and equipment 251 Other assets 1,063 6,806 Liabilities Tax and social security obligations (1,424) Other liabilities (66) Total identifiable net assets at fair value 5,316 Goodwill arising on acquisition 60,037 Purchase consideration transferred 65,353 The total consideration of R$65,353, which have been fully settled, was composed of: i) R$52,416 paid in cash and ii) R$12,937 as a fair value of the contingent consideration. In addition, the Company incurred in direct costs for the business combinations which were expensed as incurred. During the year ended December 31, 2023, Habitat was merged into XP Vista Asset Management. The merger had no impact on the consolidated financial statements (ii) BTR Benefícios e Seguros On August 15, 2022, the Group exercised its call options over the equity of BTR Benefícios e Seguros (“BTR”) which allowed the Group to acquire up to 100% of the total share of the company. This acquisition will allow the Group to further strengthen its operations on the Health and Benefits front, with a focus on corporate customers. The management of health plans today is a priority topic on the corporate market agenda as it represents, in Brazil, one of the largest costs to most companies. The closing occurred on October 03, 2022, and the total consideration paid, in cash, was R$1,254. This acquisition is not considered material for XP Inc. consolidated financial statements. No goodwill was recognized in this transaction. (c) Other developments (i) SPAC Transactions On April 25, 2022, XPAC Acquisition Corp., a special purpose acquisition company sponsored by the Group (“XPAC”), entered into a business combination agreement with SuperBac, a Brazilian biotechnology company. On May 2, 2023, SuperBac informed XPAC that it had decided to terminate the Business Combination Agreement, due to adverse market conditions, among other factors. Following the termination of the proposed business combination with SuperBac, the board of directors of XPAC determined that it is in the best interests of XPAC and its shareholders to accelerate the liquidation date of XPAC. Following the announcement about the termination of the Business Combination Agreement and the intention of early liquidation, XPAC’s management was approached by professional investors interested in acquiring and taking control of XPAC. On July 10, 2023, XPAC Acquisition Corp. entered into a Purchase and Sponsor Handover Agreement. Pursuant to the agreement, XPAC Sponsor LLC transferred control of XPAC Acquisition Corp., by selling 4,400,283 Class B ordinary shares and 4,261,485 private placement warrants to acquire 4,261,485 Class A ordinary shares of XPAC held by the Sponsor, for a total purchase price of $250. As a condition to the consummation of the Sponsor Handover, new members of XPAC’s board of directors and a new management team for XPAC were appointed by the existing Board, and the existing Board members and the existing management team have resigned. Furthermore, the name of XPAC Acquisition Corp. was changed to Zalatoris II Acquisition Corp. The Purchase and Sponsor Handover Agreement was approved by the XPAC’s shareholders at an extraordinary general meeting of shareholders on July 27, 2023, the date on which the Group ceases to control XPAC. (ii) Minority stake acquisitions XP Inc. entered in agreements through its subsidiary XP Controle 5 Participações Ltda. to acquire a minority stake in Monte Bravo Holding JV S.A. (“Monte Bravo”), Blue3 S.A. (“Blue3”) and Ctrl+e Participações Ltda. (“Ável”). These companies were part of XP Inc’s IFAs network. The total fair value consideration recorded for those acquisitions during the period ended December 31, 2023, is R$ 834,743, including the goodwill in a total amount of R$ 537,671 (Note 15). During the year ended December 31, 2023, R$ 45,000 of the total consideration was paid in cash. See note 37(ii). (iii) Termination of XTAGE client operations On October 18, 2023, XP Inc announced the termination of XTAGE's operations, which took place on December 15, 2023. XTAGE's operations were not considered material to the Group. After termination, XP Inc's customers can continue to have exposure to digital assets through funds (including Exchange-traded Funds, ETFs) regulated by the Brazilian securities commission (CVM).

Securities purchased (sold) und

Securities purchased (sold) under resale (repurchase) agreements	12 Months Ended
	Dec. 31, 2023
Securities purchased sold under resale repurchase agreements [Abstract]
Securities purchased (sold) under resale (repurchase) agreements	Securities purchased (sold) under resale (repurchase) agreements a) Securities purchased under resale agreements 2023 2022 Collateral held 3,891,759 834,975 National Treasury Notes (NTNs) (i) 2,013,366 645,188 National Treasury Bills (LTNs) (i) 820,487 — Financial Treasury Bills (LFTs) (i) 799,417 — Debentures (ii) 89,234 84,065 Real Estate Receivable Certificates (CRIs) (ii) 80,565 82,633 Other 88,690 23,089 Collateral repledge 11,000,022 6,771,526 National Treasury Bills (LTNs) (i) 2,416,143 227,713 Financial Treasury Bills (LFTs) (i) 900,245 — National Treasury Notes (NTNs) (i) 116,583 2,842,159 Debentures (ii) 4,258,213 929,346 Real Estate Receivable Certificates (CRIs) (ii) 2,436,462 2,019,639 Agribusiness Receivables Certificates (CRAs) (ii) 459,896 101,091 Agribusiness Credit Bill (LCAs) (ii) — 171,730 Interbank Deposits Certificates (CDIs) (ii) 304,572 — Other 107,908 479,848 Expected Credit Loss (iii) (2,803) (2,681) Total 14,888,978 7,603,820 (i) Investments in purchase and sale commitments collateral-backed by sovereign debt securities refer to transactions involving the purchase of sovereign debt securities with a commitment to sale originated mainly in the subsidiaries XP CCTVM, Banco XP and in exclusive funds. (ii) Refers to corporate debt assets, which are low-risk investments collateral-backed. (iii) The reconciliation of gross carrying amount and the expected credit loss segregated by stages are presented in the Note 14. As of December 31, 2023, securities purchased under resale agreements were carried out at average interest rates of 11.85% p.a. (13.65% p.a. as of December 31, 2022). As of December 31, 2023, the amount of R$ 2,760,296 (December 31, 2022 – R$646,478) from the total amount of collateral held portfolio, is being presented as cash equivalents in the statements of cash flows. b) Securities sold under repurchase agreements 2023 2022 National Treasury Bills (LTNs) 3,274,568 8,569,145 National Treasury Notes (NTNs) 8,456,861 12,347,218 Financial Treasury Bills (LFTs) 1,867,365 533,509 Debentures 8,776,735 1,831,846 Real Estate Receivable Certificates (CRIs) 9,201,853 6,471,410 Financial credit bills (LFs) 954,447 1,111,890 Agribusiness Receivables Certificates (CRAs) 808,682 925,073 Total 33,340,511 31,790,091 As of December 31, 2023, securities sold under repurchase agreements were agreed with average interest rates of 10.91% p.a. (December 31, 2022 – 13.65% p.a.).

Securities

Securities	12 Months Ended
Securities	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Securities	7. Securities a) Securities classified at fair value through profit and loss are presented in the following table: 2023 2022 Gross carrying amount Fair value Group portfolio Retirement plan assets (i) Gross carrying amount Fair value Group portfolio Retirement plan assets (i) Financial assets At fair value through profit or loss Available portfolio 102,381,532 103,282,212 46,930,511 56,351,701 86,273,732 86,336,920 40,648,295 45,688,625 Brazilian onshore sovereign bonds 29,587,276 30,172,040 28,000,854 2,171,186 25,262,407 25,127,998 22,799,302 2,328,696 Investment funds 55,922,364 55,922,364 3,022,360 52,900,004 42,274,069 42,274,069 2,389,131 39,884,938 Stocks issued by public-held company 3,981,237 3,981,237 3,642,365 338,872 5,494,957 5,494,957 5,155,761 339,196 Debentures 4,642,827 4,575,326 4,133,285 442,041 5,013,524 4,990,882 2,768,843 2,222,039 Structured notes 90,876 113,816 113,816 — 243,790 285,560 285,560 — Bank deposit certificates (ii) 756,066 765,741 663,985 101,756 525,778 541,294 523,859 17,435 Agribusiness receivables certificates 1,132,479 1,200,254 1,183,214 17,040 1,998,287 1,984,686 1,964,977 19,709 Real estate receivable certificates 1,843,651 1,924,269 1,921,927 2,342 1,799,625 1,803,111 1,800,671 2,440 Financial credit bills 435,425 469,943 153,994 315,949 663,589 738,028 16,981 721,047 Real estate credit bill 29,126 29,157 29,157 — 2,299,236 2,302,124 2,302,124 — Agribusiness credit bills 101,796 103,541 103,541 — 254,300 256,129 256,129 — Commercial notes 803,256 892,569 886,149 6,420 64,568 65,837 10,517 55,320 Others (iv) 3,055,153 3,131,955 3,075,864 56,091 379,602 472,245 374,440 97,805 Investments held in trust accounts — — — — 1,176,084 1,176,084 1,176,084 — US government bonds (iii) — — — — 1,176,084 1,176,084 1,176,084 — Total 102,381,532 103,282,212 46,930,511 56,351,701 87,449,816 87,513,004 41,824,379 45,688,625 (i) Those financial products represent investment contracts that have the legal form of retirement plans, which do not transfer substantial insurance risk to the Group. Therefore, contributions received from participants are accounted for as liabilities and an asset of the participant in the linked Specially Constituted Investment Fund (“FIE”). Besides assets which are presented segregated above, as retirement plan assets, the Group has proprietary assets to guarantee the solvency of our insurance and pension plan operations, under the terms of CNSP Resolution No. 432/2021, presented as Group portfolio, within the investment funds line. As of December 31, 2023, those assets represent R$ 202,678 (December 31, 2022 - R$183,732). (ii) Bank deposit certificates include R$67,985 (December 31, 2022 – R$252,877) presented as cash equivalents in the statements of cash flows. (iii) Related to investments received through IPO transactions derived by XPAC Acquisition Corp. These funds are restricted for use and may only be used for purposes of completing an initial business combination or redemption of public shares as set forth in XPAC Acquisition Corp. trust agreement. See note 5(ii)(c)(i). (iv) Mainly related to bonds issued and traded overseas and other securities. b) Securities at fair value through other comprehensive income are presented in the following table: 2023 2022 Gross carrying amount Fair value Gross carrying amount Fair value Financial assets At fair value through other comprehensive income Brazilian onshore sovereign bonds 41,023,844 41,343,987 33,532,740 32,931,403 Brazilian offshore sovereign bonds — — 1,379,129 1,321,258 Foreign sovereign bonds 2,669,993 2,718,963 — — Corporate bonds — — 238,730 226,007 Total 43,693,837 44,062,950 35,150,599 34,478,668 c) Securities evaluated at amortized cost are presented in the following table: 2023 2022 Gross carrying amount Book value Gross carrying amount Book value Financial assets At amortized cost (i) Brazilian onshore sovereign bonds 3,773,404 3,772,534 5,835,971 5,834,628 Foreign sovereign bonds — — 1,743,688 1,742,311 Rural product note 616,083 615,576 507,131 506,927 Commercial notes 2,472,006 2,467,311 1,188,237 1,188,237 Total 6,861,493 6,855,421 9,275,027 9,272,103 (i) Includes expected credit loss in the amount of R$ 6,072 (December 31, 2022 – R$2,924). The reconciliation of gross carrying amount and the expected credit losses segregated by stages are presented in the Note 14. d) Securities on the financial liabilities classified at fair value through profit or loss are presented in the following table: 2023 2022 Gross carrying amount Fair value Gross carrying amount Fair value Financial liabilities At fair value through profit or loss Securities loaned 19,949,021 19,949,021 13,048,246 13,048,246 e) Debentures designated at fair value through profit or loss are presented in the following table: On May 6, 2021, XP Investimentos, issued non-convertible Debentures, in the aggregate amount of R$500,018, with the objective of funding the Group’s working capital for the construction of “Vila XP” at São Roque, State of São Paulo and designated this instrument as fair value through profit or loss in order to align it with the Group’s risk management and investment strategy. The principal amount is due on April 10, 2036. The accrued interest is payable every month from the issuance date and is calculated based on the IPCA (Brazilian inflation index) plus 5% p.a. 2023 2022 Gross carrying amount Fair value Gross carrying amount Fair value Financial liabilities At fair value through profit or loss Debentures 594,332 474,053 567,838 481,019 Unrealized gains/(losses) due to own credit risk for liabilities for which the fair value option has been elected are recorded in other comprehensive income. Gain/(losses) due to own credit risk were not material for the period ended December 31, 2023. Determination of own credit risk for items for which the fair value option was elected The debenture’s own credit risk is calculated as the difference between its yield and its benchmark rate for similar Brazilian federal securities. e.1) Difference between aggregate fair value and aggregate remaining contractual principal balance outstanding The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of December 31, 2023 for instruments for which the fair value option has been elected. 2023 Contractual principal outstanding Fair value Fair value/(under) contractual principal outstanding Long-term debt Debentures 594,332 474,053 (120,279) f) Securities classified by maturity: Assets Liabilities 2023 2022 2023 2022 Financial assets At fair value through PL and at OCI Current 74,520,326 73,569,049 19,949,021 13,048,246 Non-stated maturity 47,996,237 49,001,359 19,949,021 13,048,246 Up to 3 months 18,207,233 18,739,708 — — From 4 to 12 months 8,316,856 5,827,982 — — Non-current 72,824,836 48,422,623 474,053 481,019 After one year 72,824,836 48,422,623 474,053 481,019 Evaluated at amortized cost Current 4,560,263 7,952,328 — — Up to 3 months 2,015,126 3,327,313 — — From 4 to 12 months 2,545,137 4,625,015 — — Non-current 2,295,158 1,319,775 — — After one year 2,295,158 1,319,775 — — Total 154,200,583 131,263,775 20,423,074 13,529,265 The reconciliation of expected loss to financial assets at amortized cost segregated by stage is demonstrated in Note 14.

Derivative financial instrument

Derivative financial instruments	12 Months Ended
Derivative financial instruments	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Derivative financial instruments	Derivative financial instruments The Group trades derivative financial instruments with various counterparties to manage its overall exposures (interest rate, foreign currency and fair value of financial instruments) and to assist its customers in managing their own exposures. The fair value of derivative financial instruments, comprised of futures, forward, options, and swaps operations, is determined in accordance with the following criteria: • Swap – These operations swap cash flow based on the comparison of profitability between two indexers, thus, the agent assumes both positions – put in one indexer and call on another. • Forward - at the market quotation value, and the installments receivable or payable are fixed to a future date, adjusted to present value, based on market rates published at B3. • Futures – Foreign exchange rates, prices of shares and commodities are commitments to buy or sell a financial instrument at a future date, at a contracted price or yield and may be settled in cash or through delivery. Daily cash settlements of price movements are made for all instruments. • Options - option contracts give the purchaser the right to buy or sell the instrument at a fixed price negotiated at a future date. Those who acquire the right must pay a premium to the seller of the right. This premium is not the price of the instrument, but only an amount paid to have the option (possibility) to buy or sell the instrument at a future date for a previously agreed price. Positions with derivative financial instruments as of December 31, 2023 and 2022 are shown below: 2023 Notional Fair Value % Up to 3 months From 4 to 12 months Above 12 months Assets Options 3,053,641,595 15,982,949 85 6,240,115 6,455,786 3,287,048 Swap contracts 392,133,687 3,883,112 11 381,744 531,023 2,970,345 Forward contracts 125,343,466 2,889,964 3 2,508,142 250,756 131,066 Future contracts 8,005,705 977,441 1 833,172 104,758 39,511 Total 3,579,124,453 23,733,466 100 9,963,173 7,342,323 6,427,970 Liabilities Options 2,308,283,883 17,970,099 74 5,996,813 5,601,569 6,371,717 Swap contracts 403,391,373 3,448,067 13 56,590 842,922 2,548,555 Forward contracts 82,074,317 2,705,166 3 2,216,996 250,030 238,140 Future contracts 311,303,078 662,084 10 29,918 79,459 552,707 Total 3,105,052,651 24,785,416 100 8,300,317 6,773,980 9,711,119 2022 Notional Fair Value % Up to 3 months From 4 to 12 months Above 12 months Assets Options 1,253,758,408 5,542,340 94 1,209,290 1,931,618 2,401,432 Swap contracts 32,705,136 2,828,613 2 62,729 350,012 2,415,872 Forward contracts 16,058,162 549,953 1 352,796 132,119 65,038 Future contracts 34,679,065 296,249 3 73,621 222,628 — Total 1,337,200,771 9,217,155 100 1,698,436 2,636,377 4,882,342 Liabilities Options 852,098,826 7,086,946 84 1,387,988 1,781,457 3,917,501 Swap contracts 13,755,838 839,421 1 44,526 261,669 533,226 Forward contracts 13,548,954 511,167 1 150,119 224,932 136,116 Future contracts 140,039,765 161,574 14 53,421 72,349 35,804 Others (i) 84,184 6,301 — 6,301 — — Total 1,019,527,567 8,605,409 100 1,642,355 2,340,407 4,622,647 (i) Related to Public Warrants liabilities issued by XPAC Acquisition Corp. Derivatives financial instruments by index: 2023 2022 Notional Fair value Notional Fair value Swap Contracts Asset Position Interest 367,589,959 1,863,359 20,616,960 739,698 Foreign exchange 6,446,652 611,709 1,647,089 15,906 Share 17,870,871 1,363,195 10,302,018 2,054,430 Commodities 226,205 44,849 139,069 18,579 Liability Position Interest 403,391,373 (3,448,067) 13,106,906 (630,539) Foreign exchange — — 648,932 (208,882) Forward Contracts Asset Position Foreign exchange 100,765,753 341,835 15,516,883 213,311 Share — — 305,614 306,516 Interest 24,577,713 2,548,129 233,977 30,126 Commodities — — 1,688 — Liability Position Foreign exchange 60,387,358 (759,693) 13,548,954 (511,167) Interest 21,686,959 (1,945,473) — — Future Contracts Purchase commitments Foreign exchange 387,663 908 6,041,572 1,182 Interest 4,887,109 972,355 26,020,396 291,057 Share 3,520 — 180,720 — Commodities 2,727,413 4,178 2,436,377 4,010 Commitments to sell Interest 35,365,170 (560,676) 111,237,614 (111,009) Foreign exchange 43,572 (131) 25,134,918 (20,290) Share 274,874,389 (99,779) 3,006,462 (23,268) Commodities 1,019,947 (1,498) 660,771 (7,007) Options Purchase commitments Foreign exchange 14,346,184 520 237,680,984 1,352,521 Share 18,780,035 385,921 462,926,358 2,394,104 Interest 3,019,606,208 15,593,786 544,855,750 1,681,487 Commodities 909,168 2,722 8,295,316 114,228 Commitments to sell Foreign exchange 9,308,549 (123,346) 234,719,499 (1,504,068) Share 20,296,428 (4,026,023) 26,017,420 (4,245,924) Interest 2,278,678,906 (13,820,730) 590,924,462 (1,223,999) Commodities — — 437,445 (112,956) Others Liability Position Share — — 84,184 (6,301) Assets 23,733,466 9,217,155 Liabilities (24,785,416) (8,605,409) Net (1,051,950) 611,746

Hedge accounting

Hedge accounting	12 Months Ended
Hedge accounting	Dec. 31, 2023
Disclosure of detailed information about hedged items [abstract]
Hedge accounting	Hedge accounting The Group has three types of hedge relationships: hedge of net investment in foreign operations, fair value hedge and cash flow hedge. For hedge accounting purposes, the risk factors measured by the Group are: • Interest Rate: Risk of volatility in transactions subject to interest rate variations; • Currency: Risk of volatility in transactions subject to foreign exchange variation; • Stock Grant Charges: Risk of volatility in XP Inc stock prices, listed on NASDAQ. The structure of risk limits is extended to the risk factor level, where specific limits aim at improving the monitoring and understanding processes, as well as avoiding concentration of these risks. The structures designed for interest rate and exchange rate categories take into account total risk when there are compatible hedging instruments. In certain cases, management may decide to hedge a risk for the risk factor term and limit of the hedging instrument. a) Hedge of net investment in foreign operations The objective of the Group was to hedge the risk generated by the US$ variation from investments in our subsidiaries in the United States, XP Holding International and XP Advisors Inc. The Group has entered into derivatives contracts to protect against changes in future cash flows and exchange rate variation of net investments in foreign operations. The Group undertakes risk management through the economic relationship between hedge instruments and hedged items, in which it is expected that these instruments will move in opposite directions, in the same proportions, with the aim of neutralizing the risk factors. Hedged item Hedge instrument Book Value Variation in value recognized in Other comprehensive income Notional value Variation in the amounts used to calculate hedge ineffectiveness Assets Liabilities Strategies 2023 Foreign exchange risk Hedge of net investment in foreign operations 450,853 — (34,603) 446,442 41,235 Total 450,853 — (34,603) 446,442 41,235 2022 Foreign exchange risk Hedge of net investment in foreign operations 395,594 — (17,281) 414,043 18,480 Total 395,594 — (17,281) 414,043 18,480 2021 Foreign exchange risk Hedge of net investment in foreign operations 310,069 — 19,474 440,022 (18,758) Total 310,069 — 19,474 440,022 (18,758) b) Fair value hedge The Group’s fair value strategy consists of hedging the exposure to variation in fair value on the receipt, payment of interests and exchange variation on assets and liabilities. The group applies fair value hedges as follows: • Hedging the exposure of fixed income securities carried out through structured operations certificates. The market risk hedge strategy involves avoiding temporary fluctuations in earnings arising from changes in the interest rate market in Reais. Once this risk is offset, the Group seeks to index the portfolio to the CDI, through the use of derivatives (DI1 Futuro). The hedge is contracted in order to neutralize the total exposure to the market risk of the fixed-income funding portfolio, excluding the portion of the fixed-income compensation represented by the credit spread of Banco XP S.A., seeking to obtain the closest match deadlines and volumes as possible. • Hedging to protect the change in the fair value of the exchange and interest rate risk of the component of future cash flows arising from the XP Inc bond issued (financial liability) recognized in the balance sheet of XP Inc in July 2021 by contracting derivatives. • Hedging the exposure of fixed-income securities carried out through sovereign and corporate bonds issued in local or foreign currencies, mainly US Dollars. The market risk hedge strategy involves avoiding temporary fluctuations in the income statement arising from changes in the interest rate market. Once this risk is offset, the Group seeks to index the portfolio to the CDI, through the use of derivatives. The effects of hedge accounting on the financial position and performance of the Group are presented below: Hedged item Hedge instrument Book Value Variation in value recognized in income Notional value Variation in the amounts used to calculate hedge ineffectiveness Assets Liabilities Strategies 2023 Interest rate and foreign exchange risk Structured notes — 16,593,439 (816,142) 16,702,984 849,160 Issued bonds — 3,542,258 131,181 3,379,798 (189,189) Total — 20,135,697 (684,961) 20,082,782 659,971 Hedged item Hedge instrument Book Value Variation in value recognized in income Notional value Variation in the amounts used to calculate hedge ineffectiveness Assets Liabilities Strategies 2022 Interest rate and foreign exchange risk Structured notes — 10,648,559 726,798 10,663,672 (734,656) Issued bonds — 3,889,699 323,881 3,646,613 (362,994) Fixed income bonds 3,589,909 — (163,541) 3,577,084 165,164 Total 3,589,909 14,538,258 887,138 17,887,369 (932,486) c) Cash flow hedge In March 2022, XP Inc recorded a new hedge structure, in order to neutralize the impacts of XP share price variation on highly probable labor tax payments related to share-based compensation plans using SWAP-TRS contracts. The transaction has been elected for hedge accounting and classified as cash flow hedge in accordance with IFRS 9. Labor tax payments are due upon delivery of shares to employees under share-based compensation plans and are directly related to share price at that time. The effects of hedge accounting on the financial position and performance of the Group are presented below: Hedged item Hedge instrument Book Value Variation in value recognized in Other comprehensive income Notional value Variation in the amounts used to calculate hedge ineffectiveness Assets Liabilities Strategies 2023 Market price risk Long term incentive plan taxes — 414,315 (59,517) 438,765 70,906 Total — 414,315 (59,517) 438,765 70,906 Hedged item Hedge instrument Book Value Variation in value recognized in Other comprehensive income Notional value Variation in the amounts used to calculate hedge ineffectiveness Assets Liabilities Strategies 2022 Market price risk Long term incentive plan taxes — 262,756 346,900 261,818 (348,248) Total — 262,756 346,900 261,818 (348,248) The table below presents, for each risk factor and hedging instruments categories, the nominal value and the adjustments to the fair value of the hedging instruments and the book value of the hedged object: 2023 Notional amount Book value Variation in fair value used to calculate hedge ineffectiveness Hedge ineffectiveness recognized in income Hedge Instruments Assets Liabilities Interest rate risk Futures 19,859,217 — 19,896,226 675,035 (19,807) Foreign exchange risk Futures 670,007 450,853 239,472 26,171 1,449 Market price risk Swaps 438,765 — 414,315 70,906 11,389 2022 Notional amount Book value (i) Variation in fair value used to calculate hedge ineffectiveness Hedge ineffectiveness recognized in income Hedge Instruments Assets Liabilities Interest rate risk Futures 17,604,185 3,589,909 14,218,543 (890,103) (41,295) Foreign exchange risk Futures 697,227 395,594 319,715 (23,903) (2,825) Market price risk Swaps 261,818 — 262,756 (348,248) (1,348) The table below presents, for each strategy, the notional amount and the fair value adjustments of hedging instruments and the book value of the hedged item: December 31, 2023 December 31, 2022 December 31, 2021 Hedge instruments Hedge item Hedge instruments Hedge item Hedge instruments Hedge item Strategies Notional amount Fair value adjustments Book value Notional amount Fair value adjustments Book value Notional amount Fair value adjustments Book value Hedge of fair value 20,082,782 659,971 (684,961) 17,887,369 (932,486) 887,138 9,297,999 (495,191) 506,190 Hedge of net investment in foreign operations 446,442 41,235 (34,603) 414,043 18,480 (17,252) 440,022 (18,758) 19,474 Hedge of cash flow 438,765 70,906 (59,517) 261,818 (348,248) 346,900 — — — Total 20,967,989 772,112 (779,081) 18,563,230 (1,262,254) 1,216,786 9,738,021 (513,949) 525,664 The table below shows the breakdown notional value by maturity of the hedging strategies: 2023 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of fair value 696,906 1,653,677 6,001,602 6,920,470 2,888,836 1,921,291 20,082,782 Hedge of net investment in foreign operations 400,918 45,524 — — — — 446,442 Hedge of cash flow 438,765 — — — — — 438,765 Total 1,536,589 1,699,201 6,001,602 6,920,470 2,888,836 1,921,291 20,967,989 2022 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of fair value 229,368 707,421 2,773,333 5,913,477 5,930,291 2,333,479 17,887,369 Hedge of net investment in foreign operations 381,958 — 32,085 — — — 414,043 Hedge of cash flow 261,818 — — — — — 261,818 Total 873,144 707,421 2,805,418 5,913,477 5,930,291 2,333,479 18,563,230 2021 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of fair value 136,636 276,219 478,745 972,199 4,510,125 2,924,075 9,297,999 Hedge of net investment in foreign operations 384,217 — — 55,805 — — 440,022 Total 520,853 276,219 478,745 1,028,004 4,510,125 2,924,075 9,738,021

Loan operations

Loan operations	12 Months Ended
Loan operations	Dec. 31, 2023
Disclosure of financial assets [abstract]
Loan Operations	Loan operations Following are the breakdown of the carrying amount of loan operations by class, sector of debtor, maturity and concentration: Loans by type 2023 2022 Pledged asset loan 24,845,243 20,198,764 Retail 12,366,330 10,932,086 Companies 7,054,507 5,311,675 Credit card 5,424,406 3,955,003 Non-pledged loan 4,036,646 2,061,774 Retail 764,712 309,468 Companies 959,898 546,678 Credit card 2,312,036 1,205,628 Total loans operations 28,881,889 22,260,538 Expected Credit Loss (Note 14) (329,954) (49,377) Total loans operations, net of Expected Loss 28,551,935 22,211,161 By maturity 2023 2022 Overdue by 1 day or more 329,707 — Due in 3 months or less 6,739,145 2,496,982 Due after 3 months through 12 months 5,056,321 7,211,321 Due after 12 months 16,756,716 12,552,235 Total Loans operations 28,881,889 22,260,538 By concentration 2023 2022 Largest debtor 855,607 814,284 10 largest debtors 2,921,734 2,458,714 20 largest debtors 4,058,250 3,241,494 50 largest debtors 5,579,073 4,484,877 100 largest debtors 6,949,906 5,615,708 XP Inc offers loan products through Banco XP to its customers. The majority of the loan products offered are collateralized by customers’ investments on XP platform and credit products strictly related to investments in structured notes, in which the borrower is able to operate leveraged, retaining the structured note itself as guarantee for the loan. The reconciliation of gross carrying amount and the expected credit losses in loan operations, segregated by stage according with IFRS 9 is demonstrated in Note 14.

Accounts receivable

Accounts receivable	12 Months Ended
Accounts receivable	Dec. 31, 2023
Trade and other receivables [abstract]
Accounts receivable	Accounts receivable 2023 2022 Customers (a) 579,498 522,117 Dividends and interest receivable on equity capital - Funds 31,779 82,545 Other (b) 133,820 28,011 (-) Expected credit losses on accounts receivable (Note 14(b)) (63,907) (34,786) Total 681,190 597,887 (a) Refers to receivables from management fees arising from the distribution of funds and amounts receivable related to service provision, which have an average term of 30 days. There is no concentration on the balances receivable as of December 31, 2023 and 2022. (b) Mainly related to accounts receivable from B3. The reconciliation of gross carrying amount and the expected credit loss in accounts receivable, segregated by stage, according with IFRS 9, is included in Note 14.

Recoverable taxes

Recoverable taxes	12 Months Ended
Recoverable taxes	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Recoverable taxes	Recoverable taxes 2023 2022 Prepayments of income taxes (IRPJ and CSLL) 192,570 142,708 Contributions over revenue (PIS and COFINS) 45,688 19,453 Taxes on services (ISS) 1,859 1,087 Others 5,097 — Total 245,214 163,248 Current 245,214 163,248 Non-current — —

Prepaid expenses

Prepaid expenses	12 Months Ended
Prepaid expenses	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Prepaid expenses	Prepaid expenses 2023 2022 Commissions and premiums paid in advance (a)(b) 4,081,456 3,863,986 Marketing expenses 10,687 16,893 Services paid in advance 42,331 48,775 Other expenses paid in advance 283,789 310,453 Total 4,418,263 4,240,107 Current 826,107 789,609 Non-current 3,592,156 3,450,498 (a) Mostly comprised by long term investment programs implemented by XP CCTVM through its network of IFAs. These commissions and premiums paid are recognized at the signing date of each contract and are amortized in the Group’s income statement, linearly, according to the investment term period. (b) Include balances with related parties, in connection with the transactions disclosed on Note 5(ii)(c)(ii).

Expected Credit Losses on Finan

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount	12 Months Ended
	Dec. 31, 2023
Disclosure of fair value measurement of assets [abstract]
Expected Credit Losses on Financial Assets and Reconciliation of carrying amount	Expected Credit Losses on Financial Assets and Reconciliation of carrying amount a) Reconciliation of carrying amount of Financial Assets It is presented below the reconciliation of gross carrying amount of financial assets through other comprehensive income and financial assets measured at amortized cost – that have their ECLs (Expected Credit Losses) measured using the three-stage model and the low credit risk simplification. Stage 1 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 2 Transfer to stage 3 Transfer from stage 2 Transfer from stage 3 Write-Off Closing balance December 31, 2023 Financial assets at fair value through other comprehensive income Securities 35,150,599 8,543,238 — — — — 43,693,837 Financial assets amortized cost Securities 9,275,027 (2,413,534) — — — — 6,861,493 Securities purchased under agreements to resell 7,606,501 7,285,280 — — — — 14,891,781 Loans and credit card operations 21,168,048 5,678,561 1,082,998 (1,800,466) (193,066) 518,241 27 (6,975) 26,447,368 Total on-balance exposures 73,200,175 19,093,545 1,082,998 (1,800,466) (193,066) 518,241 27 (6,975) 91,894,479 Off-balance exposures (credit card limits) 4,759,298 3,670,075 201,949 (495,087) (5,526) 193,171 17 — 8,323,897 Total exposures 77,959,473 22,763,620 1,284,947 (2,295,553) (198,592) 711,412 44 (6,975) 100,218,376 Stage 2 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 Write-Off Closing balance December 31, 2023 Financial assets amortized cost Loans and credit card operations 1,073,170 (111,875) 2,734 (518,241) (33,238) 1,800,466 117 (10,202) 2,202,931 Total on-balance exposures 1,073,170 (111,875) 2,734 (518,241) (33,238) 1,800,466 117 (10,202) 2,202,931 Off-balance exposures (credit card limits) 255,539 25,490 308 (193,171) (8) 495,087 25 — 583,270 Total exposures 1,328,709 (86,385) 3,042 (711,412) (33,246) 2,295,553 142 (10,202) 2,786,201 Stage 3 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 1 Transfer to stage 2 Transfer from stage 1 Transfer from stage 2 Write-Off Closing balance December 31, 2023 Financial assets amortized cost Loans and credit card operations 19,319 (11,003) 18,004 (27) (117) 193,066 33,238 (20,890) 231,590 Total on-balance exposures 19,319 (11,003) 18,004 (27) (117) 193,066 33,238 (20,890) 231,590 Off-balance exposures (credit card limits) — (31) 79 (17) (25) 5,526 8 — 5,540 Total exposures 19,319 (11,034) 18,083 (44) (142) 198,592 33,246 (20,890) 237,130 Consolidated Stages Balance at December 31, 2022 Purchases / (Settlements) Business Combination Write-Off Closing balance December 31, 2023 Financial assets at fair value through other comprehensive income Securities 35,150,599 8,543,238 — — 43,693,837 Financial assets amortized cost Securities 9,275,027 (2,413,534) — — 6,861,493 Securities purchased under agreements to resell 7,606,501 7,285,280 — — 14,891,781 Loans and credit card operations 22,260,537 5,555,684 1,103,736 (38,068) 28,881,889 Total on-balance exposures 74,292,664 18,970,668 1,103,736 (38,068) 94,329,000 Off-balance exposures (credit card limits) 5,014,837 3,695,534 202,336 — 8,912,707 Total exposures 79,307,501 22,666,202 1,306,072 (38,068) 103,241,707 Stage 1 Balance at December 31, 2021 Acquisition / (Settlements) Transfer to stage 2 Transfer to stage 3 Transfer from stage 2 Transfer from stage 3 Closing balance December 31, 2022 Financial assets at fair value through other comprehensive income Securities 32,339,904 2,810,695 — — — — 35,150,599 Financial assets amortized cost Securities 2,241,304 7,033,723 — — — — 9,275,027 Securities purchased under agreements to resell 8,897,100 (1,290,599) — — — — 7,606,501 Loans and credit card operations 12,153,549 9,522,224 (945,055) (12,373) 449,698 5 21,168,048 Total on-balance exposures 55,631,857 18,076,043 (945,055) (12,373) 449,698 5 73,200,175 Off-balance exposures (credit card limits) 1,307,986 3,639,893 (241,705) — 53,124 — 4,759,298 Total exposures 56,939,843 21,715,936 (1,186,760) (12,373) 502,822 5 77,959,473 Stage 2 Balance at December 31, 2021 Acquisition / (Settlements) Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 Closing balance December 31, 2022 Financial assets amortized cost Loans and credit card operations 686,994 (102,544) (449,698) (6,642) 945,055 5 1,073,170 Total on-balance exposures 686,994 (102,544) (449,698) (6,642) 945,055 5 1,073,170 Off-balance exposures (credit card limits) 59,408 7,548 (53,125) — 241,705 3 255,539 Total exposures 746,402 (94,996) (502,823) (6,642) 1,186,760 8 1,328,709 Stage 3 Balance at December 31, 2021 Acquisition / (Settlements) Transfer to stage 1 Transfer to stage 2 Transfer from stage 1 Transfer from stage 2 Closing balance December 31, 2022 Financial assets amortized cost Loans and credit card operations 3,494 (3,180) (5) (5) 12,373 6,642 19,319 Total on-balance exposures 3,494 (3,180) (5) (5) 12,373 6,642 19,319 Off-balance exposures (credit card limits) 5 (2) — (3) — — — Total exposures 3,499 (3,182) (5) (8) 12,373 6,642 19,319 Consolidated Stages Balance at December 31, 2021 Purchases / (Settlements) Closing balance December 31, 2022 Financial assets at fair value through other comprehensive income Securities 32,339,904 2,810,695 35,150,599 Financial assets amortized cost Securities 2,241,304 7,033,723 9,275,027 Securities purchased under agreements to resell 8,897,100 (1,290,599) 7,606,501 Loans and credit card operations 12,844,037 9,416,500 22,260,537 Total on-balance exposures 56,322,345 17,970,319 74,292,664 Off-balance exposures (credit card limits) 1,367,399 3,647,438 5,014,837 Total exposures 57,689,744 21,617,757 79,307,501 The following table presents the gross carrying amount of financial assets measured at amortized cost, which that have their ECLs measured using the simplified approach: Operations 2023 2022 Financial assets amortized cost Securities trading and intermediation 3,047,011 3,376,179 Accounts Receivable 745,097 632,673 Other financial assets (i) 4,263,947 3,568,298 Total 8,056,055 7,577,150 (i) During the year ended December 31, 2023, there was R$ 1,101 of other financial assets write-off. b) Expected credit loss The table below presents the changes in ECLs, measured according to the three stage model, for assets classified as Financial assets through other comprehensive income and Financial assets measured at amortized cost in the period ended December 31, 2023 and December 31, 2022, segregated by stages: Stage 1 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 2 Transfer to stage 3 Transfer from stage 2 Transfer from stage 3 Write-Off Closing balance December 31, 2023 Financial assets at fair value through other comprehensive income Securities 8,077 4,122 — — — — — — 12,199 Financial assets amortized cost Securities 2,924 3,148 — — — — — — 6,072 Securities purchased under agreements to resell 2,681 122 — — — — — — 2,803 Loans and credit card operations 21,312 223,234 27,499 (63,095) (148,305) 1,173 1 (6,975) 54,844 Total on-balance exposures 34,994 230,626 27,499 (63,095) (148,305) 1,173 1 (6,975) 75,918 Off-balance exposures (credit card limits) 4,800 8,064 4,303 (5,427) (3,765) 187 — — 8,162 Other off-balance exposures 15,214 — — — (15,214) — — — — Total exposures 55,008 238,690 31,802 (68,522) (167,284) 1,360 1 (6,975) 84,080 Stage 2 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 Write-Off Closing balance December 31, 2023 Financial assets amortized cost Loans and credit card operations 7,656 43,159 807 (1,173) (28,663) 63,095 17 (10,202) 74,696 Total on-balance exposures 7,656 43,159 807 (1,173) (28,663) 63,095 17 (10,202) 74,696 Off-balance exposures (credit card limits) 1,428 (467) 3 (187) (1) 5,427 — — 6,203 Total exposures 9,084 42,692 810 (1,360) (28,664) 68,522 17 (10,202) 80,899 Stage 3 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 Write-Off Closing balance December 31, 2023 Financial assets amortized cost Loans and credit card operations 14,181 (3,226) 15,268 (1) (17) 148,304 28,663 (20,891) 182,281 Total on-balance exposures 14,181 (3,226) 15,268 (1) (17) 148,304 28,663 (20,891) 182,281 Off-balance exposures (credit card limits) — (18) 18 — — 3,766 1 — 3,767 Other off-balance exposures — 38,891 — — — 15,214 — (54,105) — Total exposures 14,181 35,647 15,286 (1) (17) 167,284 28,664 (74,996) 186,048 Consolidated Stages Balance at December 31, 2022 Increase / (Reversal) Business Combination Write-Off Closing balance December 31, 2023 Financial assets at fair value through other comprehensive income Securities 8,077 4,122 — — 12,199 Financial assets amortized cost Securities 2,924 3,148 — — 6,072 Securities purchased under agreements to resell 2,681 122 — — 2,803 Loans and credit card operations 43,149 263,168 43,573 (38,068) 311,822 Total on-balance exposures 56,831 270,560 43,573 (38,068) 332,896 Off-balance exposures (credit card limits) 6,228 7,579 4,325 — 18,132 Other off-balance exposures 15,214 38,890 — (54,104) — Total exposures 78,273 317,029 47,898 (92,172) 351,028 Stage 1 ECL at December 31, 2021 Increase / (Reversal) Transfer to stage 2 Transfer to stage 3 Transfer from stage 2 Transfer from stage 3 ECL at December 31, 2022 Financial assets at fair value through other comprehensive income Securities 7,527 550 — — — — 8,077 Financial assets amortized cost Securities 2,497 427 — — — — 2,924 Securities purchased under agreements to resell 2,569 112 — — — — 2,681 Loans and credit card operations 13,957 21,827 (6,940) (8,624) 1,092 — 21,312 Total on-balance exposures 26,550 22,916 (6,940) (8,624) 1,092 — 34,994 Off-balance exposures (credit card limits) 726 5,413 (1,394) — 55 — 4,800 Other off-balance exposures — 15,214 — — — — 15,214 Total exposures 27,276 43,543 (8,334) (8,624) 1,147 — 55,008 Stage 2 ECL at December 31, 2021 Increase / (Reversal) Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 ECL at December 31, 2022 Financial assets amortized cost Loans and credit card operations 7,242 (127) (1,091) (5,308) 6,940 — 7,656 Total on-balance exposures 7,242 (127) (1,091) (5,308) 6,940 — 7,656 Off-balance exposures (credit card limits) 288 (198) (56) — 1,394 — 1,428 Total exposures 7,530 (325) (1,147) (5,308) 8,334 — 9,084 Stage 3 ECL at December 31, 2021 Increase / (Reversal) Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 ECL at December 31, 2022 Financial assets amortized cost Loans and credit card operations 2,197 (1,948) — — 8,624 5,308 14,181 Total on-balance exposures 2,197 (1,948) — — 8,624 5,308 14,181 Total exposures 2,197 (1,948) — — 8,624 5,308 14,181 Consolidated Stages ECL at December 31, 2021 Increase / (Reversal) ECL at December 31, 2022 Financial assets at fair value through other comprehensive income Securities 7,527 550 8,077 Financial assets amortized cost Securities 2,497 427 2,924 Securities purchased under agreements to resell 2,569 112 2,681 Loans and credit card operations 23,396 19,753 43,149 Total on-balance exposures 35,989 20,842 56,831 Off-balance exposures (credit card limits) 1,014 5,214 6,228 Other off-balance exposures — 15,214 15,214 Total exposures 37,003 41,270 78,273 The table below presents the ECLs for the financial assets measured according to simplified approach in the period ended December 31, 2023 and December 31, 2022: Expected Credit Losses 2023 2022 Financial assets amortized cost Securities trading and intermediation 114,692 105,179 Accounts Receivable 63,907 34,786 Other financial assets 55,204 51,109 Total 233,803 191,074 c) Expected credit losses segregated by products The table below presents the expected credit losses for 2023 and 2022, segregated by products: Expected Credit Losses 2023 2022 Financial assets at fair value through other comprehensive income 12,199 8,077 Securities 12,199 8,077 Financial assets amortized cost 554,501 239,828 Securities 6,072 2,924 Securities purchased under agreements to resell 2,803 2,681 Loans and credit card operations 311,823 43,149 Securities trading and intermediation 114,692 105,179 Accounts Receivable 63,907 34,786 Other financial assets 55,204 51,109 Total losses for exposures 566,700 247,905 Off-balance exposures (credit card limits) 18,131 6,228 Other off-balance exposures — 15,214 Total exposures 584,831 269,347

Investments in associates and j

Investments in associates and joint ventures	12 Months Ended
Investments in associates and joint ventures	Dec. 31, 2023
Disclosure of associates [abstract]
Investments in associates and joint ventures	Investments in associates and joint ventures Set out below the associates and joint ventures of the Group as of December 31, 2023 and 2022. Entity 2022 Equity (iv) Equity in earnings Other comprehensive income Goodwill (i) 2023 Equity-accounted method Associates (ii.a) 748,306 288,333 73,507 10,139 537,671 1,657,956 Measured at fair value Associates (iii) 1,523,425 (20,318) (52,403) — — 1,450,704 Total 2,271,731 268,015 21,104 10,139 537,671 3,108,660 Entity 2021 Equity Equity in earnings Other comprehensive income Goodwill (i) 2022 Equity-accounted method Associates (ii.a) 790,744 (24,257) (10,930) (7,251) — 748,306 Joint ventures (ii.b) 1,197 69 (1,235) (31) — — Measured at fair value Associates (iii) 1,221,424 356,302 (54,301) — — 1,523,425 Total 2,013,365 332,114 (66,466) (7,282) — 2,271,731 (i) Refers to acquisitions of associates and joint ventures. The goodwill recognized includes the amount of expected synergies arising from the investments and includes an element of contingent consideration. (ii) As of December 31, 2022 and December 31, 2021, includes the interests in the total and voting capital of the following companies: (a) Associates - Wealth High Governance Holding de Participações S.A. (49.9% of the total and voting capital on December 31 2023, and 2022); Primo Rico Mídia, Educacional e Participações Ltda. (21.83% of the total and voting capital on December 31, 2023 and 29.26% on December 31, 2022); Novus Capital Gestora de Recursos Ltda. (27.5% of the total and voting capital on December 31, 2023); NK112 Empreendimentos e Participações S.A. (49.9% of the total and voting capital on December 31, 2023 and 2022)); Ctrl+e Participações Ltda. (“Ável”) (35% of the total and voting capital on December 31, 2023); Monte Bravo Holding JV S.A. (45% of the total and voting capital on December 31, 2023); and Blue3 S.A. (42% of the total and voting capital on December 31, 2023);(b) Joint ventures - the Group’s stake in DuAgro was sold to the market during the last quarter of 2022. (iii) As mentioned in Note 2 (iii)(c), the Group values the investments held through some proprietary investment funds at fair value. The fair value of investments is presented in the statement of income as ‘Net income/(loss) from financial instruments at fair value through profit or loss’. Contingent consideration amounts related to the investments at fair value held through proprietary investment funds are presented in Note 20. (iv) On December 31, 2023, includes total or partial disposal of investments in Grimper Capital, BlueMacaw and OHM Research and the minority stake acquisitions in Monte Bravo, Blue3 and Ável (Note 5(ii)(c)(ii)).

Property, equipment, intangible

Property, equipment, intangible assets and leases	12 Months Ended
Property, equipment, intangible assets and leases	Dec. 31, 2023
Disclosure of detailed information about property, plant and equipment [abstract]
Property, equipment, intangible assets and leases	Property, equipment, intangible assets and leases (a) Property and equipment Data processing system Furniture and equipment Security systems Facilities Fixed assets in progress Other Total Balance as of January 1, 2021 33,882 22,616 1,003 44,921 101,610 — 204,032 Additions 37,469 93 229 4 63,250 34,399 135,444 Write-offs (298) (728) (170) (375) (729) — (2,300) Transfers 5 (15) 15 — — — 5 Foreign exchange (31) 245 (327) 3 — — (110) Depreciation in the year (13,096) (3,990) (60) (5,353) (35) (573) (23,107) Balance as of December 31, 2021 57,931 18,221 690 39,200 164,096 33,826 313,964 Cost 89,376 31,813 1,584 54,535 164,096 34,399 375,803 Accumulated depreciation (31,445) (13,592) (894) (15,335) — (573) (61,839) Balance as of January 1, 2022 57,931 18,221 690 39,200 164,096 33,826 313,964 Additions 10,775 152 1,542 245 31,849 — 44,563 Write-offs — — — — (1,179) — (1,179) Transfers 101 41 — 104 (15,264) — (15,018) Foreign exchange 21 (58) — (407) — — (444) Depreciation in the year (18,774) (3,649) (93) (5,019) (17) (3,440) (30,992) Balance as of December 31, 2022 50,054 14,707 2,139 34,123 179,485 30,386 310,894 Cost 101,101 31,291 2,557 54,553 179,485 34,399 403,386 Accumulated depreciation (51,047) (16,584) (418) (20,430) — (4,013) (92,492) Balance as of January 1, 2023 50,054 14,707 2,139 34,123 179,485 30,386 310,894 Additions 9,124 11,328 728 338 44,486 — 66,004 Business combination (Note 5(ii)) 35,945 1,881 94 797 816 — 39,533 Write-offs (1,059) (158) (8) (52) — — (1,277) Transfers — 1,501 624 18,041 (20,166) — — Foreign exchange 779 16 1 60 — — 856 Depreciation in the year (26,923) (4,740) (260) (7,285) — (3,440) (42,648) Balance as of December 31, 2023 67,920 24,535 3,318 46,022 204,621 26,946 373,362 Cost 178,361 46,815 4,490 90,191 204,621 34,399 558,877 Accumulated depreciation (110,441) (22,280) (1,172) (44,169) — (7,453) (185,515) (b) Intangible assets Software Goodwill Customer list Trademarks Other intangible assets Total Balance as of January 1, 2021 115,153 474,366 58,285 10,748 55,010 713,562 Additions 146,761 — 40,000 — 30,808 217,569 Business combination 1,734 68,379 — 485 — 70,598 Write-offs (13,536) — — (1,000) (2,675) (17,211) Transfers 51,994 — — 485 (52,484) (5) Foreign exchange (971) — — 341 204 (426) Amortization in the year (148,803) — (5,796) (8,492) (21) (163,112) Balance as of December 31, 2021 152,332 542,745 92,489 2,567 30,842 820,975 Cost 303,724 542,745 116,050 88,877 30,918 1,082,314 Accumulated amortization (151,392) — (23,561) (86,310) (76) (261,339) Balance as of January 1, 2022 152,332 542,745 92,489 2,567 30,842 820,975 Additions 13,655 — 13,000 — 55,757 82,412 Business combination (Note 5(ii)) — 60,037 — — — 60,037 Write-offs (7,337) (156) (12,133) — — (19,626) Transfers 10,125 (7,404) (21,189) 18,468 — — Foreign exchange (3,986) — — — (1) (3,987) Amortization in the year (76,450) — (10,663) (8,495) (21) (95,629) Balance as of December 31, 2022 88,339 595,222 61,504 12,540 86,577 844,182 Cost 276,195 595,222 141,252 25,000 86,674 1,124,343 Accumulated amortization (187,856) — (79,748) (12,460) (97) (280,161) Balance as of January 1, 2023 88,339 595,222 61,504 12,540 86,577 844,182 Additions 22,387 — 58,692 — 49,140 130,219 Business combination (Note 5(ii)) 46,916 1,257,605 355,730 29,909 — 1,690,160 Write-offs (4,945) (19,420) — (3,113) (2,722) (30,200) Transfers 77,964 — (7,876) 7,090 (77,178) — Foreign exchange — — — — 1,494 1,494 Amortization in the year (71,680) — (35,076) (11,468) (15,586) (133,810) Balance as of December 31, 2023 158,981 1,833,407 432,974 34,958 41,725 2,502,045 Cost 302,560 1,833,407 555,674 51,110 41,725 2,784,476 Accumulated amortization (143,579) — (122,700) (16,152) — (282,431) (c) Impairment test for goodwill Given the interdependency of cash flows and the merger of business practices, all Group’s entities are considered a single cash generating unit (“CGU”) and, therefore, a goodwill impairment test is performed at the single operating level. Therefore, the carrying amount considered for the impairment test represents the Company’s equity. The Group tests whether goodwill has suffered any impairment on an annual basis or more frequently if there is an impairment indicator. For the years ended December 31, 2023 and 2022, the recoverable amount of the single CGU was determined based on value-in-use calculations which require the use of assumptions. The calculations use cash flow projections based on financial budgets approved by management covering a four-year period. Cash flows beyond the four-year period are extrapolated using the estimated growth rates, which are consistent with forecasts included in industry reports specific to the industry in which the Group operates. The Group performed its annual impairment test as of December 31, 2023 and 2022 which did not result in the need to recognize impairment losses on the carrying value of goodwill. Key assumptions used in value-in-use calculations and sensitivity to changes in assumptions are: Assumption Approach used to determine values Sales Average annual growth rate over the four-year forecast period; based on management’s expectations of market development. Budgeted gross margin Based on management’s expectations for the future. Other operating costs Fixed costs, which do not vary significantly with sales volumes or prices. Management forecasts these costs based on the current structure of the business, adjusting for inflationary increases but not reflecting any future restructurings or cost saving measures. The amounts disclosed above are the average operating costs for the four-year forecast period. Annual capital expenditure Expected cash costs. This is based on the experience of management, and the planned refurbishment expenditure. No incremental revenue or cost savings are assumed in the value-in-use model as a result of this expenditure. Long-term growth rate This is the weighted average growth rate used to extrapolate cash flows beyond the budget period. The rates are consistent with forecasts included in industry reports. Pre-tax discount rates Reflect specific risks relating to the relevant segments and the countries in which they operate. The long-term growth rate utilized in the impairment test of goodwill is 3.50%. Discount rates represent the current market assessment of the risks specific to the Group, taking into consideration the time value of the money and risks of the underlying assets that have not been incorporated in the cash flow estimates. The discount rate calculation is based on the specific circumstances of the Group and is derived from its weighted average cost of capital (WACC). The WACC take into account both debt and equity. The cost of equity is derived from the expected return on investment by the Group’s investors. The cost of debt is based on the interest-bearing borrowings the Group has. Adjustments to the discount rate are made to factor in the specific amount and timing of the future tax flows in order to reflect a pre-tax discount rate. The average pre-tax discount rate applied to cash flow projections is 13.85% (December 31, 2022 – 13.83%). d) Leases Set out below are the carrying amounts of the Group’s right-of-use assets and lease liabilities and the movements during the period: Right-of-use assets Lease liabilities As of January 1, 2022 284,509 318,555 Additions (i) 49,764 49,853 Depreciation expense (79,256) — Interest expense — 22,794 Revaluation 8,929 (89) Effects of exchange rate (5,455) (5,820) Payment of lease liabilities — (99,655) As of December 31, 2022 258,491 285,638 Current — 69,722 Non-current 258,491 215,916 As of January 1, 2023 258,491 285,638 Additions (i) 90,851 116,774 Business combination (Note 5(ii)) 17,493 19,802 Depreciation expense (75,955) — Write-offs (114) (675) Interest expense (3,864) 22,927 Revaluation 1,187 — Effects of exchange rate (6,285) (6,967) Payment of lease liabilities — (132,737) As of December 31, 2023 281,804 304,762 Current — 123,978 Non-current 281,804 180,784 (i) Additions to right-of-use assets in the period include prepayments to lessors and accrued liabilities. The Group did not recognize rent expense from short-term leases and low-value assets in December 31, 2023 and 2022. The total rent expense of R$ 23,656 (R$14,491 – December 31, 2022), includes other expenses related to leased offices such as condominiums.

Financing instruments payable

Financing instruments payable	12 Months Ended
Financing instruments payable	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Financing instruments payable	Financing instruments payable 2023 2022 Market funding operations (a) 54,831,509 38,093,772 Deposits 27,493,655 20,261,532 Demands deposits 1,812,469 803,031 Time deposits 25,230,996 19,445,276 Interbank deposits 450,190 13,225 Financial bills 9,019,789 5,675,596 Structured notes 18,015,165 12,109,576 Others 302,900 47,068 Debt securities (b) 5,534,081 5,589,857 Debentures 2,212,441 2,028,681 Bond 3,321,640 3,561,176 Total 60,365,590 43,683,629 Current 22,946,160 19,794,572 Non-Current 37,419,430 23,889,057 (a) Market funding operations maturity Maturity - 2023 Class Within 30 days From From From From After 360 days Total Demand deposits 1,812,469 — — — — — 1,812,469 Time deposits 1,944,623 2,823,731 5,370,064 2,522,206 2,878,827 9,691,545 25,230,996 Interbank deposits — — — 1,006 276,113 173,071 450,190 Financial bills 30,954 43,635 94,499 680,490 2,103,902 6,066,309 9,019,789 Structured notes 23,345 32,730 1,756 69,879 712,046 17,175,409 18,015,165 Others 1,119 17,116 — 46,688 235,513 2,464 302,900 Total 3,812,510 2,917,212 5,466,319 3,320,269 6,206,401 33,108,798 54,831,509 Maturity - 2022 Class Within 30 days From From From From After 360 days Total Demand deposits 803,031 — — — — — 803,031 Time deposits 3,604,494 4,273,475 5,187,106 1,382,514 2,016,732 2,980,955 19,445,276 Interbank deposits — — — 3,092 — 10,133 13,225 Financial bills — — 2,390 1,637,547 405,901 3,629,758 5,675,596 Structured notes — — 5,720 35,773 261,019 11,807,064 12,109,576 Others — — 1,031 13,053 32,984 — 47,068 Total 4,407,525 4,273,475 5,196,247 3,071,979 2,716,636 18,427,910 38,093,772 (b) Debt securities maturity The total balance is comprised of the following issuances: 2023 2022 Up to 1 year 1-5 years Total Up to 1 year 1-5 years Total Bonds (i) Fixed rate 118,402 3,203,238 3,321,640 128,710 3,432,466 3,561,176 Debentures (ii) (iii) Floating rate 1,105,047 1,107,394 2,212,441 106,118 1,922,563 2,028,681 Total 1,223,449 4,310,632 5,534,081 234,828 5,355,029 5,589,857 Current 1,223,449 234,828 Non- Current 4,310,632 5,355,029 (i) XP Inc Bonds On July 1, 2021, XP Inc. concluded the issuance of a gross of US$750 million senior unsecured notes with net proceeds of US$739 million (R$3,697 million) with maturity on July 1, 2026 and bear interest at the rate of 3.250% per year and will be guaranteed by XP Investimentos S.A. The principal amount will be paid on the maturity and the interest is amortized every six months. (ii) XP Investimentos debentures On July 19, 2022, XP Investimentos issued non-convertible debentures in the amount of R$1,800,000 (R$900,000 of series 1 and R$900,000 of series 2). The debentures series, added together, has a maximum authorized issuance up to R$1,800,000. The principal amount, including the interest, will be paid on the maturity date as follow: (i) June 23, 2024 (series 1) and (ii) June 23, 2025 (series 2). The interest rates for series 1 and series 2 debentures are CDI+1.75% and CDI+1.90%, respectively. On December 31, 2023, the total amount is R$2,212,441. (iii) XP Energia debentures On December 8, 2021, XP Energia issued non-convertible Debentures in the amount of R$485,511. The objective was to fund the Group’s working capital and treasury investments related to wholesale electricity trade business. The interest rate was CDI+2.5% annually payable. According to the maturity date, the principal amount was paid on December 8, 2023.

Securities trading and intermed

Securities trading and intermediation	12 Months Ended
Securities trading and intermediation	Dec. 31, 2023
Summary of Securities, Trading and Intermediation Assets and Liabilities [Abstract]
Securities trading and intermediation	Securities trading and intermediation Represented by operations at B3 on behalf of and on account of third parties, with liquidation operating cycle between D+1 and D+3. 2023 2022 Cash and settlement records 1,277,579 1,394,451 Debtors pending settlement 1,768,735 1,980,341 Other 697 1,387 (-) Expected losses on Securities trading and intermediation (a) (114,692) (105,179) Total Assets 2,932,319 3,271,000 Cash and settlement records 166,625 171,659 Creditors pending settlement 1,957,045 2,401,828 Customer's cash on investment account 14,819,869 13,489,210 Total Liabilities 16,943,539 16,062,697 (a) The reconciliation of gross carrying amount and the expected loss, segregated by stage, according to IFRS 9 are included in Note 14.

Borrowings

Borrowings	12 Months Ended
Borrowings	Dec. 31, 2023
Disclosure of detailed information about borrowings [abstract]
Borrowings	Borrowings Annual Interest rate % Maturity December 31, 2023 December 31, 2022 Banco Nacional de México (i) 2.55% May 2023 — 1,586,052 International Finance Corporation (IFC) (ii) CDI () + 0.74% April 2023 — 279,828 Banco Nacional de México Term SOFR() + 0.40% August 2024 2,198,619 — Banco Daycoval 15.66% September 2024 803 — Total borrowings 2,199,422 1,865,880 Current 2,199,422 1,865,880 Non-current — — () Brazilian Interbank Offering Rate (CDI). (**) Secured Overnight Financing Rate (SOFR). (i) On May 5, 2023, according to the maturity date, the loan agreement was fully settled. (ii) On April 17, 2023, according to the maturity date, the loan agreement was fully settled. Some of the obligations above contain financial covenants, which have certain performance conditions. The Group complied with these covenants throughout the duration of the contracts (Note 36 (ii)).

Other financial assets and fina

Other financial assets and financial liabilities	12 Months Ended
Other financial assets and financial liabilities	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Other financial assets and financial liabilities	Other financial assets and financial liabilities (a) Other financial assets 2023 2022 Foreign exchange portfolio 1,022,083 2,145,174 Receivables from IFAs 165,640 172,884 Compulsory and other deposits at Central Bank 2,956,896 1,119,169 Other financial assets 119,328 131,071 (-) Expected losses on other financial assets (i) (55,204) (51,109) Total 4,208,743 3,517,189 Current 3,471,827 2,791,244 Non-current 736,916 725,945 (i) The reconciliation of gross carrying amount and the expected loss, according to IFRS 9, are presented in Note 14. (b) Other financial liabilities 2023 2022 Foreign exchange portfolio 1,361,882 2,405,429 Structured financing (i) 1,841,790 1,933,522 Credit cards operations 7,234,116 4,987,390 Contingent consideration (ii) 571,723 566,930 Commitments subject to possible redemption (iii) — 1,049,130 Lease liabilities 304,762 285,638 Others 917,103 326,174 Total 12,231,376 11,554,213 Current 11,974,989 11,014,262 Non-current 256,387 539,951 (i) Financing for maintenance of financial assets required to perform financial transactions. (ii) Contractual contingent considerations mostly associated with the investment acquisition. The maturity of the total contingent consideration payment is up to 5 years and the contractual maximum amount payable is R$833,000 (the minimum amount is zero). (iii) Related to the IPO transaction of XPAC Acquisition Corp. that occurred on August 3, 2021. The capital issued by XPAC Acquisition Corp. includes conditionally redeemable Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control. On July 27, 2023, the Group ceased to control XPAC Acquisition Corp., see note 5 (ii)(c)(i) for more information.

Social and statutory obligation

Social and statutory obligations	12 Months Ended
Social and statutory obligations	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Social and Statutory obligations	Social and statutory obligations 2023 2022 Obligations to non-controlling interest 75,196 40,646 Employee profit-sharing (a) 910,739 794,761 Salaries and other benefits payable 160,192 132,712 Total 1,146,127 968,119 (a) The Group has a bonus scheme for its employees based on a profit-sharing program as agreed under collective bargaining with the syndicate, which does not extend to the Board of Directors. The bonus is calculated at each half of the year and payments are made in February and August.

Tax and social security obligat

Tax and social security obligations	12 Months Ended
Tax and social security obligations	Dec. 31, 2023
Tax and Social Security Obligations [Abstract]
Tax and social security obligations	Tax and social security obligations 2023 2022 Income Tax (IRPJ and CSLL) (i) 225,677 143,133 Taxes on long term incentive plan (ii) 192,776 120,194 Contributions over revenue (PIS and COFINS) 63,819 11,475 Taxes on services (ISS) 23,096 20,042 Contributions for Social Security (INSS) 27,529 24,927 Others 26,750 45,648 Total 559,647 365,419 Current 559,647 365,419 Non-current — — (i) The Group income tax liability is presented net of tax assets which the entities are allowed to offset during the current year. The line includes current Corporate Income Tax (CIT) liability of R$313,167 (R$164,767 - 2022), taxes that XP is responsible to pay on behalf of its clients (i.e., withholding taxes over client’s investments) in the amount of R$166,755 (R$20,741 - 2022) and taxes assets of R$116,591 (R$42,375 - 2022). (ii) The amount classified as “Taxes on long term incentive plan” includes mostly contributions to Brazilian Social Security Programs FGTS and INSS.

Retirement plans liabilities

Retirement plans liabilities	12 Months Ended
Retirement plans liabilities	Dec. 31, 2023
Disclosure of defined benefit plans [abstract]
Retirement plans liabilities	Retirement plans and insurance liabilities As of December 31, 2023, active plans are principally accumulation of financial resources through products PGBL and VGBL structured in the form of variable contribution, for the purpose of granting participants with returns based on the accumulated capital in the form of monthly withdraws for a certain term or temporary monthly withdraws. In this respect, such financial products represent investment contracts that have the legal form of retirement plans, but which do not transfer insurance risk to the Group. Therefore, contributions received from participants are accounted for as liabilities and the balance consists of the participant’s balance in the linked Specially Constituted Investment Fund (“FIE”) on the reporting date (Note 7a (i)). Changes in the period 2023 2022 As of January, 1 45,733,815 31,921,400 Contributions received 3,333,361 3,007,321 Transfer with third party plans 5,562,491 10,580,681 Withdraws (3,847,214) (3,441,303) Claims paid (210) — Other provisions (Constitution/Reversion) 9,185 54,828 Monetary correction and interest income 5,617,647 3,610,888 As of December, 31 56,409,075 45,733,815

Income tax

Income tax	12 Months Ended
Income tax	Dec. 31, 2023
Major components of tax expense (income) [abstract]
Income tax	Income tax (a) Deferred income tax Deferred tax assets (DTA) and deferred tax liabilities (DTL) are comprised of the main following components: Balance Sheet Net change in the year 2023 2022 2023 2022 2021 Tax losses carryforwards 742,245 575,120 167,125 466,982 100,756 Goodwill on business combinations (i) 35,823 6,376 29,447 (6,053) (10,409) Provisions for IFAs’ commissions 90,075 71,986 18,089 (4,988) (17,570) Revaluations of financial assets at fair value (166,281) (214,456) 48,175 (388,197) 190,520 Expected credit losses (ii) 335,711 58,208 277,503 14,277 24,487 Profit sharing plan 278,983 269,949 9,034 9,084 96,057 Net gain on hedge instruments (22,704) (11,169) (11,535) (39,292) 7,137 Share-based compensation 627,730 566,721 61,009 181,127 269,618 Other provisions 96,189 178,104 (81,915) 23,764 86,845 Total 2,017,771 1,500,839 516,932 256,704 747,441 Deferred tax assets 2,104,128 1,611,882 Deferred tax liabilities (86,357) (111,043) (i) For Brazilian tax purposes, goodwill is amortized over 5 years on a straight-line basis when the entity acquired is sold or merged into the acquirer company. (ii) Include expected credit loss on accounts receivable, loan operations and other financial assets. The changes in the net deferred tax were recognized as follows: 2023 2022 2021 At January, 1 1,500,839 1,244,135 496,694 Foreign exchange variations (78,128) 5,786 (16,949) Business combination (Note 5(ii)) 401,521 — — Charges to statement of income 549,702 397,792 387,551 Tax relating to components of other comprehensive income (356,163) (146,874) 376,839 At December, 31 2,017,771 1,500,839 1,244,135 Unrecognized deferred taxes Deferred tax assets are recognized for tax losses to the extent that the realization of the related tax benefit against future taxable profits is probable. The Group did not recognize deferred tax assets of R$5,338 (2022 - R$12,705) mainly in respect of losses from subsidiaries overseas and that can be carried forward and used against future taxable income. (b) Income tax expense reconciliation The tax on the Group's pre-tax profit differs from the theoretical amount that would arise using the weighted average tax rate applicable to profits of the consolidated entities. The following is a reconciliation of income tax expense to profit (loss) for the year, calculated by applying the combined Brazilian statutory rates at 34% for the year ended December 31: 2023 2022 2021 Income before taxes 3,936,348 3,444,656 3,815,174 Combined tax rate in Brazil (a) 34.00 % 34.00 % 34.00 % Tax expense at the combined rate 1,338,359 1,171,183 1,297,159 Loss (income) from entities not subject to deferred taxation — 245 554 Effects from entities taxed at different rates (43,572) 62,596 146,377 Effects from entities taxed at different taxation regimes (b) (1,174,605) (1,343,757) (1,128,400) Intercompany transactions with different taxation regimes (68,673) (46,674) (79,055) Tax incentives (17,835) (5,346) (21,036) Non-deductible expenses (non-taxable income) (17,459) 3,758 25,216 Effect from Social Contribution on net equity rate increase — 985 — Others 20,742 21,455 (18,101) Total 36,957 (135,555) 222,714 Current 586,659 262,237 610,265 Deferred (549,702) (397,792) (387,551) Total expense / (credit) 36,957 (135,555) 222,714 (a) Considering that XP Inc. is domiciled in Cayman and there is no income tax in that jurisdiction, the combined tax rate of 34% demonstrated above is the current rate applied to XP Investimentos S.A. which is the holding company of all operating entities of XP Inc. in Brazil. (b) Certain eligible subsidiaries adopted the PPM tax regime and the effect of the presumed profit of subsidiaries represents the difference between the taxation based on this method and the amount that would be due based on the statutory rate applied to the taxable profit of the subsidiaries. Additionally, some entities and investment funds adopt different taxation regimes according to the applicable rules in their jurisdictions. Other comprehensive income The tax (charge)/credit relating to components of other comprehensive income is as follows: Before tax (Charge) / Credit After tax Foreign exchange variation of investees located abroad 20,977 — 20,977 Gains (losses) on net investment hedge (29,701) 10,942 (18,758) Changes in the fair value of financial assets at fair value (914,914) 365,897 (549,017) As of December 31, 2021 (923,637) 376,839 (546,798) Foreign exchange variation of investees located abroad (19,645) — (19,645) Gains (losses) on net investment hedge 26,154 (8,902) 17,252 Changes in the fair value of financial assets at fair value 356,078 (137,972) 218,106 As of December 31, 2022 362,587 (146,874) 215,713 Foreign exchange variation of investees located abroad (41,160) — (41,160) Gains (losses) on net investment hedge 41,477 (6,874) 34,603 Changes in the fair value of financial assets at fair value 905,670 (349,289) 556,381 As of December 31, 2023 905,987 (356,163) 549,824

Equity

Equity	12 Months Ended
Equity	Dec. 31, 2023
Disclosure of classes of share capital [abstract]
Equity	Equity (a) Issued capital The Company has an authorized share capital of US$35 thousand, corresponding to 3,500,000,000 authorized shares with a par value of US$0.00001 each of which: • 2,000,000,000 shares are designated as Class A common shares and issued; and • 1,000,000,000 shares are designated as Class B common shares and issued. The remaining 500,000,000 authorized but unissued shares are presently undesignated and may be issued by our board of directors as common shares of any class or as shares with preferred, deferred or other special rights or restrictions. Therefore, the Company is authorized to increase capital up to this limit, subject to approval of the Board of Directors. On January 10, 2022, XP Inc issued 445,328 Class A common shares (R$ 70,030) as part of our acquisition of a minority stake of Vista Capital (non-cash transaction). On July 1, 2023, XP Inc issued 18,717,771 Class A common shares (R$ 2,097,326) to acquire up to 100% of Banco Modal´s shares, in a non-cash equity exchange transaction. As of December 31, 2023, the Company had R$26 of issued capital which were represented by 436,776,080 Class A common shares and 112,717,094 Class B common shares. (b) Additional paid-in capital and capital reserve Our Class A and Class B common shares, have the following rights: • Each holder of a Class B common share is entitled, in respect of such share, to 10 votes per share, whereas the holder of a Class A common share is entitled, in respect of such share, to one vote per share. • Each holder of Class A common shares and Class B common shares vote together as a single class on all matters (including the election of directors) submitted to a vote of shareholders, except as provided below and as otherwise required by law. • Class consents from the holders of Class A common shares and Class B common shares, as applicable, shall be required for any modifications to the rights attached to their respective class of shares the rights conferred on holders of Class A common shares shall not be deemed to be varied by the creation or issue of further Class B common shares and vice versa; and • the rights attaching to the Class A common shares and the Class B common shares shall not be deemed to be varied by the creation or issue of shares with preferred or other rights, including, without limitation, shares with enhanced or weighted voting rights. The Articles of Association provide that at any time when there are Class A common shares in issue, Class B common shares may only be issued pursuant to: (a) a share split, subdivision of shares or similar transaction or where a dividend or other distribution is paid by the issue of shares or rights to acquire shares or following capitalization of profits; (b) a merger, consolidation, or other business combination involving the issuance of Class B common shares as full or partial consideration; or (c) an issuance of Class A common shares, whereby holders of the Class B common shares are entitled to purchase a number of Class B common shares that would allow them to maintain their proportional ownership and voting interests in XP Inc. Below is a summary of the issuances, cancellations and conversions of shares during 2023 and 2022: Class A (prior common shares) Class B (prior preferred shares) Total Shares As of December 31, 2021 424,153,735 135,394,989 559,548,724 Transfer of classes 22,677,895 (22,677,895) — Follow on offering 970,031 — 970,031 As of December 31, 2022 447,801,661 112,717,094 560,518,755 Transfer of classes (31,267,095) — (31,267,095) Issuance of shares 20,241,514 — 20,241,514 As of December 31, 2023 436,776,080 112,717,094 549,493,174 As mentioned in Note 32, the Board of Directors approved in December 2019 a share based long-term incentive plan, in which the maximum number of shares should not exceed 5% of the issued and outstanding shares. As of December 31, 2023, the outstanding number of shares reserved under the plans is 14,600,588 restricted share units (“RSUs”) (2022 - 13,684,424) and 1,588,818 performance restricted units (“PSUs”) (2022 - 2,527,242) to be issued at the vesting date. During the year ended December 31, 2023, XP Inc issued 1,523,743 Class A common shares (R$317,378) in connection with vestings occurred under the share based long-term incentive plan. The additional paid-in capital refers to the difference between the purchase price that the shareholders pay for the shares and their par value. Under Cayman Law, the amount in this type of account may be applied by the Company to pay distributions or dividends to members, pay up unissued shares to be issued as fully paid, for redemptions and repurchases of own shares, for writing off preliminary expenses, recognized expenses, commissions or for other reasons. All distributions are subject to the Cayman Solvency Test which addresses the Company’s ability to pay debts as they fall due in the natural course of business. (c) Treasury Shares The Group registered treasury shares in its Equity as a result of the following transactions: (i) the merger of XPart into XP Inc., which was settled through XP Inc.’s own shares; (ii) the share buy-back program, approved in May 2022, amended in November 2022 and ended in March 2023; (iii) the share purchase agreement with Itaú Unibanco, signed on June and November 2022. The treasury shares are registered as a deduction from equity until the shares are canceled or reissued. During the year ended December 31, 2023, the Company repurchased and held in treasury 13,120,268 Class A common shares (R$ 915,859). On April 5, 2023, the Company’s Board of Directors approved the cancellation of 31,267,095 Class A common shares (R$ 2,785,504) held by the Company in treasury. As of December 31, 2023, the Group held 1,056,308 shares in treasury (19,203,135 - December 31, 2022) with an amount of R$117,117 (R$1,986,762 - December 31, 2022). (d) Dividends distribution The Group has not adopted a dividend policy with respect to future distributions of dividends. The amount of any distributions will depend on many factors such as the Company's results of operations, financial condition, cash requirements, prospects and other factors deemed relevant by XP Inc. board of directors and, where applicable, the shareholders. For the years ended December 31, 2022 and 2021, XP Inc. did not declare and paid dividends to the shareholders. For the year ended December 31, 2023, XP Inc. declared and paid dividends to its shareholders in the total amount of US$ 720 million (R$ 3,542,298). The dividends were settled on September 25, 2023 (R$ 1,577,622) and December 22, 2023 (R$ 1,964,676). Non-controlling shareholders of some XP Inc’s subsidiaries received dividends in the year ended in December 31, 2023, 2022 and 2021. (e) Other comprehensive income Other comprehensive income consists of changes in the fair value of financial assets at fair value through other comprehensive income, while these financial assets are not realized. Also includes gains (losses) on net investment hedge and foreign exchange variation of investees located abroad.

Related party transactions

Related party transactions	12 Months Ended
Related party transactions	Dec. 31, 2023
Disclosure of transactions between related parties [abstract]
Related party transactions	Related party transactions Transactions and remuneration of services with related parties are carried out in the ordinary course of business and under arm’s length conditions, and including interest rates, terms and guarantees, and do not involve risks greater than normal collection or present other disadvantages. (a) Key-person management compensation Key management includes executive statutory directors, members of the Board of Directors and Executive Boards. The compensation paid or payable to key management for their services is shown below: 2023 2022 2021 Fixed compensation 17,445 7,837 8,801 Variable compensation 15,843 60,781 44,362 Total 33,288 68,618 53,163 (b) Transactions with related parties The main transactions carried with related parties for year-end balances arising from such transactions are as follows: Assets/(Liabilities) Revenue/(Expenses) Relation and transaction 2023 2022 2023 2022 2021 Shareholders with significant influence (i) — (3,562,079) 6,104 (160,835) (60,177) Securities — 238,088 17,403 24,770 4,270 Securities purchased under agreements to resell — — 5,101 9,370 19,098 Accounts receivable and Loans operations — 476 424 1,330 744 Securities sold under repurchase agreements — (3,800,643) (16,824) (196,305) (84,268) Borrowings — — — — (21) (i) These transactions are mainly related to Itaúsa S.A. Group. See note 1 (1.4). Transactions with related parties also includes transactions among the Company and its associates related to commissions and premiums paid in advance, as described in Note 13. Transactions with related parties also includes transactions among the Company and its subsidiaries in the course of normal operations, including services rendered such as: (i) education, consulting and business advisory; (ii) financial advisory and financial consulting in general; (iii) management of resources and portfolio management; (iv) information technology and data processing; and (v) insurance and (vi) loan operations. The effects of those transactions have been eliminated and do not have effects on the consolidated financial statements.

Provisions and contingent liabi

Provisions and contingent liabilities	12 Months Ended
Provisions and contingent liabilities	Dec. 31, 2023
Disclosure of other provisions [abstract]
Provisions and contingent liabilities	27. Provisions and contingent liabilities The Company and its subsidiaries are party to judicial and administrative litigations before various courts and government bodies, arising from the normal course of operations, involving tax, civil and labor matters and other issues. Periodically, Management evaluates the tax, civil and labor risks, based on legal, economic and tax supporting data, in order to classify the risks as probable, possible or remote, in accordance with the chances of them occurring and being settled, taking into consideration, case by case, the analyses prepared by external and internal legal advisors. 2023 2022 Tax contingencies 1,537 — Civil contingencies 37,921 20,419 Labor contingencies 57,965 7,908 Other provisions (i) 255 15,214 Total provision 97,678 43,541 Judicial deposits (ii) 22,108 12,077 (i) There are circumstances in which the Group is questioning the legitimacy of certain litigations or claims filed against it. As a result, either because of a judicial order or based on the strategy adopted by Management, the Group might be required to secure part or the whole amount in question by means of judicial deposits, without this being characterized as the settlement of the liability. These amounts are classified as “Other assets” on the consolidated balance sheets and referred above for information. Changes in the provision during the year 2023 2022 2021 Balance at January 1 43,541 29,308 19,711 Business combination (Note 5(ii)) 70,910 — — Monetary correction 25,954 4,449 6,837 Provision 65,731 23,844 8,457 Reversed (55,791) (11,539) (3,132) Payments (52,667) (2,521) (2,565) Balance at December 31 97,678 43,541 29,308 Nature of claims a) Civil Most of the civil and administrative claims involve matters that are normal and specific to the business and refer to demands for indemnity primarily due to: (i) financial losses in the stock market; (ii) portfolio management; and (iii) alleged losses generated from the liquidation of customers assets in portfolio due to margin cause and/or negative balance. As of December 31, 2023, there were 777 (December 31, 2022 - 181) civil and administrative claims for which the likelihood of loss has been classified as probable, in the amount of R$37,921 (December 31, 2022 - R$20,419). b) Labor Labor claims to which the Group is party primarily concern: (i) the existence (or otherwise) of a working relationship between the Group and IFAs; and (ii) severance payment of former employees. As of December 31, 2023, the Company and its subsidiaries are the defendants in 116 cases (December 31, 2022 - 28) involving labor matters for which the likelihood of loss has been classified as probable, in the amount of R$57,965 (December 31, 2022 - R$7,908). Contingent liabilities - probability of loss classified as possible In addition to the provisions mentioned above, the Company and its subsidiaries are party to several labor, civil and tax contingencies in progress, in which they are the defendants, and the likelihood of loss, based on the opinions of the internal and external legal advisors, is considered possible. The contingencies amount to approximately R$1,826,688 (December 31, 2022 - R$893,745). Below these claims are summarized by nature: 2023 2022 Tax (i) (ii) 653,714 543,463 Civil (iii) (iv) 883,485 335,644 Labor (v) 289,489 14,638 Total 1,826,688 893,745 (i) Employees Profit Sharing Plans: At the end of years 2015, 2019, 2021 and 2022 tax authorities issued assessments against the Group claiming mainly for allegedly unpaid social security contributions on amounts due and paid to employees as profit sharing plans related to calendar years of 2011, 2015, 2017 and 2018. According to the tax authorities, the Group profit sharing plans did not comply with the provisions of Law 10,101/00. The risk of loss for these claims is classified as possible by the external counsels. a. Tax assessment related to 2011: The first and the second administrative appeals were denied, and currently the Group awaits for the judgment of the special appeal by the Superior Court of the Administrative Council of Tax Appeals (“CARF”). The amount claimed is R$20,879. b. Tax assessment related to 2015: The first administrative appeal was denied, and currently the Group awaits for the judgment of the second appeal by the CARF. The amount claimed is R$54,220. c. Tax assessment related to 2017: In addition to the claim related to the employees’ profit sharing plan tax authorities are also challenging the deductibility for Corporate Income Tax (IRPJ) and Social Contribution of Net Profits (CSLL) purposes of the amounts paid under such plan to the members of the Board. Administrative appeals were filed against the assessment, which is awaiting judgment by the Federal Revenue Service of Brazil (“RFB”). The total amount claimed is R$118,395. d. Tax assessment related to 2018: An administrative appeal was filed against the assessment, which awaits for judgment by the RFB. The total amount claimed is R$142,447. e. In June 2022, the Group was notified by the Public Labor Ministry for allegedly unpaid FGTS (Fund for Severance Indemnity Payment) on the amounts paid to employees under profit sharing plans related to years 2015 to 2020. According to the tax authorities the Group profit sharing plans did not comply with the provisions of Law 10,101/00. The Group presented its administrative defense and awaits for the judgment. The total amount claimed is R$135,739. f. On February 14, 2024, the Group received a tax assessment related to the Employees’ Profit Sharing Plan paid in calendar year of 2019. The amount claimed is R$ 193,183. (ii) Amortization of goodwill: The Group also received four tax assessments in which the tax authorities challenge the deductibility for Corporate Income Tax (IRPJ) and Social Contribution of Net Profits (CSLL) purposes of the expenses deriving from the amortization of goodwill registered upon the acquisitions made by the Group between 2013 and 2016. According to the tax authorities, the respective goodwill was registered in violation of Laws 9.532/97 and 12.973/14, respectively. Currently, two of the proceedings are pending judgment by the RFB and the other two awaits for judgement by the CARF, considering that the administrative appeals were denied. Also, the Group have filed two lawsuits to prevent the issuance of new tax assessments and/or the application of the 150% penalty by the tax authorities in relation to expenses of such goodwill incurred in other periods. The risk of loss for these claims is classified as possible by the external counsels. The amount claimed is R$ 82,285. (iii) Banco Modal S.A. - Employees Profit Sharing Plan: In March 2016, tax authorities issued an assessment against Banco Modal claiming mainly for allegedly unpaid social security contributions on amounts due and paid to employees as profit sharing plan related to calendar year of 2012. The first administrative appeal was denied, and currently Banco Modal awaits for the judgment of the second appeal by the CARF. The risk of loss for this claim is classified as possible by the external counsels. The total amount claimed is R$ 6,637. (iv) The Group is defendant in 778 (December 31, 2022 – 586) civil and administrative claims by customers and investment agents, mainly related to portfolio management, risk rating, copyrights and contract termination. The total amount represents the collective maximum value to which the Group is exposed based on the claims’ amounts monetarily restated. (v) The Group is defendant in 116 (December 31, 2022 – 28) labor claims by former employees. The total amount represents the collective maximum value to which the Group is exposed based on the claims’ amounts monetarily restated.

Total revenue and income

Total revenue and income	12 Months Ended
Total revenue and income	Dec. 31, 2023
Analysis of income and expense [abstract]
Total revenue and income	Total revenue and income a) Net revenue from services rendered Revenue from contracts with customers derives mostly from services rendered and fees charged at daily transactions from customers, therefore mostly recognized at a point in time. Disaggregation of revenue by major service lines are as follows: 2023 2022 2021 Major service lines Brokerage commission 1,991,781 2,102,878 2,465,217 Securities placement 1,979,406 1,631,399 1,917,403 Management fees 1,628,373 1,580,770 1,489,736 Insurance brokerage fee 175,326 153,230 133,070 Commissions Fees 789,822 563,987 192,923 Other services 588,932 476,492 603,330 Gross revenue from services rendered 7,153,640 6,508,756 6,801,679 (-) Sales taxes and contributions on revenue (i) (621,635) (568,300) (605,214) Net revenue from services rendered 6,532,005 5,940,456 6,196,465 (i) Mostly related to taxes on services (ISS) and contributions on revenue (PIS and COFINS). b) Net income/(loss) from financial instruments 2023 2022 2021 Net income/(loss) from financial instruments at fair value through profit or loss 6,923,112 6,326,080 7,555,132 Net income/(loss) from financial instruments measured at amortized cost and at fair value through other comprehensive income 1,649,210 1,201,253 (1,558,060) Total income from financial instruments 8,572,322 7,527,333 5,997,072 (-) Taxes and contributions on financial income (244,231) (120,399) (116,425) Net income/(loss) from financial instruments 8,328,091 7,406,934 5,880,647 c) Disaggregation by geographic location Breakdown of total net revenue and income and selected assets by geographic location: 2023 2022 2021 Brazil 14,261,302 12,855,909 11,723,976 United States 531,997 449,447 332,046 Europe 66,797 42,034 21,090 Revenues 14,860,096 13,347,390 12,077,112 2023 2022 2021 Brazil 13,255,769 8,649,964 7,698,115 United States 508,544 488,158 106,736 Europe 88,395 49,496 1,746 Selected assets (i) 13,852,708 9,187,618 7,806,597 (i) Selected assets are total assets of the Group, less: cash, financial assets and deferred tax assets, which are presented by geographic location. None of the clients represented more than 10% of our revenues for the periods presented.

Operating costs

Operating costs	12 Months Ended
Operating costs	Dec. 31, 2023
Analysis of income and expense [abstract]
Operating costs	Operating costs 2023 2022 2021 Commission and incentive costs 3,070,875 2,813,308 2,719,611 Operating losses 136,014 139,734 93,664 Other costs 1,192,034 918,054 616,834 Clearing house fees 474,013 427,844 411,605 Third parties’ services 59,374 53,779 88,431 Credit card cashback 379,711 262,429 91,093 Other 278,936 174,002 25,705 Total 4,398,923 3,871,096 3,430,109

Operating expenses by nature

Operating expenses by nature	12 Months Ended
Operating expenses by nature	Dec. 31, 2023
Analysis of income and expense [abstract]
Operating expenses by nature	Operating expenses by nature 2023 2022 2021 Selling expenses 169,486 138,722 227,483 Advertising and publicity 169,486 138,722 227,483 Administrative expenses 5,461,147 5,641,233 4,692,698 Personnel expenses 3,728,123 3,943,284 3,427,220 Compensation 1,371,973 1,597,229 1,416,247 Employee profit-sharing and bonus 1,531,491 1,540,172 1,362,046 Executives profit-sharing 149,263 100,732 143,763 Benefits 223,694 195,763 130,187 Social charges 437,377 487,237 358,878 Other 14,325 22,151 16,099 Other taxes expenses 65,526 71,396 53,603 Depreciation of property and equipment and right-of-use assets 118,603 110,248 68,618 Amortization of intangible assets 133,810 95,629 163,112 Other administrative expenses 1,415,085 1,420,676 980,145 Data processing 739,804 685,946 450,796 Technical services 152,499 188,986 167,984 Third parties' services 307,952 397,585 249,514 Rent expenses 23,656 14,491 16,498 Communication 31,577 27,076 30,041 Travel 36,232 40,243 13,282 Legal and judicial 24,610 9,873 9,292 Other 98,755 56,476 42,738 Total 5,630,633 5,779,955 4,920,181

Other operating income_(expense

Other operating income/(expenses), net	12 Months Ended
Other operating income/(expenses), net	Dec. 31, 2023
Analysis of income and expense [abstract]
Other operating income, net	Other operating income/(expenses), net 2023 2022 2021 Other operating income 227,052 353,834 413,665 Revenue from incentives from Tesouro Direto, B3 and others (a) 23,834 284,661 366,163 Interest received on tax 17,224 15,436 7,604 Recovery of charges and expenses 6,072 5,945 4,473 Reversal of operating provisions 29,365 11,704 7,422 Other 150,557 36,088 28,003 Other operating expenses (216,414) (96,890) (89,311) Legal, administrative proceedings and agreement with customers (46,101) (8,563) (3,667) Losses on write-off and disposal of assets (77,886) (6,794) (4,377) Tax incentive expenses (10,034) (5,780) (10,788) Fines and penalties (9,624) (4,574) (1,378) Associations and regulatory fees (17,960) (15,118) (11,714) Charity (14,681) (34,005) (30,171) Other (40,128) (22,056) (27,216) Total 10,638 256,944 324,354 (a) Includes incentives received from third parties, mainly due to the joint development of retail products, and also the association of such entities with the XP ecosystem.

Share-based plan

Share-based plan	12 Months Ended
Share-based plan	Dec. 31, 2023
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share-based plan	Share-based plan a) Share-based Plan The establishment of the Plan was approved by the Board of Director’s meeting on December 6, 2019 and the first grant of Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”) was on December 10, 2019. Under the Plan, stocks are awarded at no cost to the recipient upon their grant date. Both RSUs and PSU, are usually granted in a annual basis, their vesting conditions are service-related and they vest at a rate determined in each granted date. The limit to vest is determined at the grant date of each new grant. After the vesting periods, common shares will be issued to the recipients. Under the PSUs, stocks are granted to eligible participants and their vesting period and conditions are determined at each new grant, also based on the total shareholder return (TSR), including share price growth, dividends and capital returns. If an eligible participant ceases its relationship with the Group, within the vesting period, the rights will be forfeited, except in limited circumstances that are approved by the board on a case-by-case basis. b) Fair value of shares granted Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model and underlying assumptions, which depends on the terms and conditions of the grant and the information available at the grant date. The Group uses certain methodologies to estimate fair value which include the following: • Estimation of fair value based on equity transactions with third parties close to the grant date; and • Other valuation techniques including share pricing models such as Monte Carlo. These estimates also require determination of the most appropriate inputs to the valuation models including assumptions regarding the expected life of a share-based payment or appreciation right, expected volatility of the price of the Group’s shares and expected dividend yield. c) Outstanding shares granted and valuation inputs The maximum number of shares available for issuance under the share-based plan shall not exceed 5% of the issued and outstanding shares. As of December 31, 2023, the outstanding number of Company reserved under the plans were 16,189,406 (December 31, 2022 - 16,211,666) including RSUs 14,600,588 (December 31, 2022 - 13,684,424) and 1,588,818 PSUs (December 31, 2022 - 2,527,242). Set out below are summaries of XP Inc's RSU and PSU activity for 2023 and 2022. RSUs PSUs Total (In thousands, except weighted-average data, and where otherwise stated) Number of units Number of units Number of units Outstanding, January 1, 2022 15,153,830 2,966,060 18,119,890 Granted 814,745 — 814,745 Forfeited (1,559,670) (438,818) (1,998,488) Vested (724,481) — (724,481) Outstanding, December 31, 2022 13,684,424 2,527,242 16,211,666 Outstanding, January 1, 2023 13,684,424 2,527,242 16,211,666 Granted 4,489,910 91,589 4,581,499 Forfeited (1,463,203) (1,030,013) (2,493,216) Vested (2,110,543) — (2,110,543) Outstanding, December 31, 2023 14,600,588 1,588,818 16,189,406 For the year ended December 31, 2023, total compensation expense of both plans was R$574,225 (2022 - R$793,249), including R$132,998 (2022 - R$189,295) of tax provisions, and does not include any tax benefits on total share-based compensation expense once this expense is not deductible for tax purposes. The tax benefits will be perceived when the shares are converted into common shares. The original weighted-average grant-date fair value of RSUs and PSUs shares were US$27 and US$34.56 respectively. In May 2020, the Company decided to update the measurement condition of its PSU shares, replacing the TSR measurement from US Dollars (US$) to Brazilian Reais (R$), being therefore subject to exchange variation. The weighted-average grant-date fair value of PSU shares for the updated plan was US$52.41. The incremental fair value will be recognized as an expense over the period from the modification date to the end of the vesting period. All other conditions of the PSU shares plan have not been modified. The average grant date fair value in the year ended December 31, 2023 was US$34.83.

Earnings per share (basic and d

Earnings per share (basic and diluted)	12 Months Ended
Earnings per share (basic and diluted)	Dec. 31, 2023
Earnings per share [abstract]
Earnings per share (basic and diluted)	Earnings per share (basic and diluted) Basic earnings per share is calculated by dividing net income for the period attributed to the owners of the parent by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is calculated by dividing net income attributable to owners of XP Inc by the weighted average number of shares outstanding during the year plus the weighted average number of shares that would be issued on conversion of all dilutive potential shares into shares into shares by applying the treasury stock method. The shares in the share-based plan are the only shares with potential dilutive effect. The following table presents the calculation of net income applicable to the owners of the parent and basic and diluted EPS for the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Net Income attributable to owners of the Parent 3,898,702 3,579,050 3,589,416 Basic weighted average number of outstanding shares (i) (iii) 539,835 555,429 559,004 Basic earnings per share - R$ 7.2220 6.4438 6.4211 Effect of dilution Shared-based plan (ii) (iii) 4,377 17,577 14,496 Diluted weighted average number of outstanding shares (iii) 544,212 573,006 573,499 Diluted earnings per share - R$ 7.1639 6.2461 6.2588 (i) See on note 25, the number of XP Inc.’s outstanding common shares during the year. (ii) See on note 32, the number of shares granted and forfeited during the year regarding XP Inc.’s share-based plan. (iii) Thousands of shares.

Determination of fair value

Determination of fair value	12 Months Ended
Determination of fair value	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Determination of fair value	Determination of fair value The Group measures financial instruments such as certain financial investments and derivatives at fair value at each balance sheet date. Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices at the end of the reporting period. The financial instruments included in the level 1 consist mainly in public financial instruments and financial instruments negotiated on active markets (i.e. stock exchanges). Level 2: The fair value of financial instruments that are not traded in active markets is determined using valuation techniques, which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value as an instrument are directly or indirectly observable, the instrument is included in level 2. The financial instruments classified as level 2 are composed mainly from private financial instruments and financial instruments negotiated in a secondary market. Level 3: If one or more of the significant inputs is unobservable, the instrument is included in level 3. This is the case for unlisted equity securities. Specific valuation techniques used to value financial instruments include: • Financial assets (other than derivatives) – The fair value of securities is determined by reference to their closing prices on the date of presentation of the consolidated financial statements. If there is no market price, fair value is estimated based on the present value of future cash flows discounted using the observable rates and market rates on the date of presentation. • Swap – These operations swap cash flow based on the comparison of profitability between two indexers. Thus, the agent assumes both positions – put in one indexer and call on another. • Forward – at the market quotation value, and the installments receivable or payable are fixed to a future date, adjusted to present value, based on market rates published at B3. • Futures – Foreign exchange rates, prices of shares and commodities are commitments to buy or sell a financial instrument at a future date, at a contracted price or yield and may be settled in cash or through delivery. Daily cash settlements of price movements are made for all instruments. • Options – option contracts give the purchaser the right to buy or sell the instrument at a fixed price negotiated at a future date. Those who acquire the right must pay a premium to the seller. This premium is not the price of the instrument, but only an amount paid to have the option (possibility) to buy or sell the instrument at a future date for a previously agreed price. • Others: Derivatives – the warrant liabilities issued by XPAC Corporation Corp. contain features that qualify as embedded derivatives. The fair value of Public Warrants issued in connection with the Initial Public Offering were measured based on the listed market price of such warrants. • Other financial assets and liabilities – Fair value, which is determined for disclosure purposes, is calculated based on the present value of the principal and future cash flows, discounted using the observable rates and market rates on the date the financial statements are presented. • Loans operations – Fair value is determined through the present value of expected future cash flows discounted using the observable rates and market rates on the date the financial statements are presented. • Contingent consideration – Fair value of the contingent consideration liability related to acquisitions is estimated by applying the income approach and discounting the expected future payments to selling shareholders under the terms of the purchase and sale agreements. Below are the Group financial assets and liabilities by level within the fair value hierarchy. The Group assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels: 2023 Level 1 Level 2 Level 3 Fair Value Book Value Financial Assets Financial assets at Fair value through profit or loss Securities 92,628,880 10,653,332 — 103,282,212 103,282,212 Derivative financial instruments 977,441 22,756,025 — 23,733,466 23,733,466 Investments in associates measured at fair value — — 1,450,704 1,450,704 1,450,704 Fair value through other comprehensive income Securities 44,062,950 — — 44,062,950 44,062,950 Evaluated at amortized cost Securities 3,773,404 3,082,017 — 6,855,421 6,855,421 Securities purchased under agreements to resell — 13,551,224 — 13,551,224 14,888,978 Securities trading and intermediation — 2,932,319 — 2,932,319 2,932,319 Accounts receivable — 681,190 — 681,190 681,190 Loan operations — 20,874,930 — 28,551,935 28,551,935 Other financial assets — 4,208,743 — 4,208,743 4,208,743 Financial liabilities Fair value through profit or loss Securities 19,949,021 474,053 — 20,423,074 20,423,074 Derivative financial instruments 662,084 24,123,332 — 24,785,416 24,785,416 Evaluated at amortized cost Securities sold under repurchase agreements — 44,589,653 — 44,589,653 33,340,511 Securities trading and intermediation — 16,943,539 — 16,943,539 16,943,539 Financing instruments payable — 61,098,677 — 61,098,677 60,365,590 Borrowings — 3,174,285 — 3,174,285 2,199,422 Accounts payables — 948,218 — 948,218 948,218 Other financial liabilities — 11,659,653 571,723 12,231,376 12,231,376 2022 Level 1 Level 2 Level 3 Fair Value Book Value Financial Assets Financial assets at Fair value through profit or loss Securities 73,022,643 14,490,361 — 87,513,004 87,513,004 Derivative financial instruments 296,249 8,920,906 — 9,217,155 9,217,155 Investments in associates measured at fair value — — 1,523,425 1,523,425 1,523,425 Fair value through other comprehensive income Securities 34,478,668 — — 34,478,668 34,478,668 Evaluated at amortized cost Securities 7,579,658 1,695,368 — 9,275,026 9,272,103 Securities purchased under agreements to resell — 7,172,777 — 7,172,777 7,603,820 Securities trading and intermediation — 3,271,000 — 3,271,000 3,271,000 Accounts receivable — 597,887 — 597,887 597,887 Loan operations — 20,874,930 — 20,874,930 22,211,161 Other financial assets — 3,517,189 — 3,517,189 3,517,189 Financial liabilities Fair value through profit or loss Securities 13,048,246 481,019 — 13,529,265 13,529,265 Derivative financial instruments 167,874 8,437,535 — 8,605,409 8,605,409 Evaluated at amortized cost Securities sold under repurchase agreements — 31,370,050 — 31,370,050 31,790,091 Securities trading and intermediation — 16,062,697 — 16,062,697 16,062,697 Financing instruments payable — 43,669,798 — 43,669,798 43,683,629 Borrowings — 1,814,714 — 1,814,714 1,865,880 Accounts payables — 617,394 — 617,394 617,394 Other financial liabilities — 10,987,283 566,930 11,554,213 11,554,213 As of December 31, 2023 and 2022 the total contingent consideration liability is reported at fair value and is dependent on the profitability of the acquired associate and businesses. The total contingent consideration is classified within Level 3 of the fair value hierarchy. The contingent consideration liability represents the maximum amount payable under the purchase and sale agreements discounted using an appropriate rate, which includes the Brazilian risk free rate. Changes in an average discount rate of 10.03% by 100 bps would increase/decrease the fair value of contingent consideration liability by R$3,915. The investments held through our investees which are considered to be venture capital investments are classified as Level 3 of the fair value hierarchy. The inputs used by the Group are derived for discounted rates for these investments using a capital asset model to calculate a pre-tax rate that reflects current market assessments of the time value of money and the risk specific to the asset. Change in the discount rate by 100 bps would increase/decrease the fair value by R$14,507. Transfers into and out of fair value hierarchy levels are analyzed at the end of each consolidated financial statement. As of December 31, 2023, the Group had no transfers between Level 2 and Level 3.

Management of financial risks a

Management of financial risks and financial instruments	12 Months Ended
Management of financial risks and financial instruments	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Management of financial risks and financial instruments	Management of financial risks and financial instruments (a) Overview The Group’s activities are exposed to a variety of financial risks: credit risk, liquidity risk, market risk (including currency risk, interest rate risk and price risk), and operational risk. The Group’s overall risk management structure focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group’s financial performance. The Group uses derivative financial instruments to mitigate certain risk exposures. It is the Group’s policy that no trading in derivatives for speculative purposes may be undertaken. (b) Risk management structure Management has overall responsibility for establishing and supervising the risk management structure of the Group. Risk Management is under a separated structure from business areas, reporting directly to senior management, to ensure exemption of conflict of interest, and segregation of functions appropriate to good corporate governance and market practices. The risk management policies of the Group are established to identify and analyze the risks faced, to set appropriate risk limits and controls, and to monitor risks and adherence to the limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and in the activities of the Group. The Group, through its training and management standards and procedures, developed a disciplined and constructive control environment within which all its employees are aware of their duties and obligations. Regarding the subsidiary XP CCTVM and the other subsidiaries components of XP Prudential Conglomerate (Brazilian Central Bank oversight definition), the organizational structure is based on the recommendations proposed by the Basel Accord, in which procedures, policies and methodology are formalized consistent with risk tolerance and with the business strategy and the various risks inherent to the operations and/or processes, including market, liquidity, credit and operating risks. The Group seeks to follow the same risk management practices as those applying to all companies. Such risk management processes are also related to going concern management procedures, mainly in terms of formulating impact analyses, business continuity plans, contingency plans, backup plans and crisis management. (c) Credit risk Credit risk is defined as the possibility of losses associated with the failure, by the borrower or counterparty, of their respective financial obligations under the agreed terms, the devaluation of the credit agreement resulting from the deterioration in the borrower's risk rating, the reduction gains or remuneration, the advantages granted in the negotiation and the costs of recovery. The risk management document establishes its credit policy based on the composition of the portfolio by security, by internal rating of issuer and/or the issue, by the current economic activity, by the duration of the portfolio, by the macroeconomic variables, among others. The credit analysis department is also actively involved in this process and it is responsible for assessing the credit risk of issues and issuers with which it maintains or intends to maintain credit relationships, also using an internal credit risk allocation methodology (rating) to classify the likelihood of loss of counterparties. For the loan operations XP Inc uses client’s investments as collaterals to reduce potential losses and protect against credit risk exposure by managing these collaterals so that they are always sufficient, legally enforceable (effective) and viable. XP Inc monitors the value of the collaterals and the credit risk management provides subsidies to define strategies as risk appetite, to establish limits, including exposure analysis and trends as well as the effectiveness of the credit policy. The loan operations have a high credit quality and the Group often uses risk mitigation measures, primarily through client’s investments as collaterals, which explains the low provision ratio. The Group's policies regarding obtaining collateral have not significantly changed during the reporting period and there has been no significant change in the overall quality of the collateral held by the Group since the prior period. Management undertakes credit quality analysis of assets that are not past due or reduced to recoverable value. As of December 31, 2023 and 2022 such assets were substantially represented by loan operations and securities purchased under resale agreements, of which the counterparties are Brazilian banks with low credit risk, securities issued by the Brazilian government, as well as derivative financial instruments transactions, which are mostly traded on the stock exchange (B3 S.A. – Brasil, Bolsa, Balcão) and which, therefore, have its guarantee. The carrying amount of the financial assets representing the maximum exposure to credit risk is shown in the table below: 2023 2022 Financial assets Securities purchased under agreements to resell 14,888,978 7,603,820 Securities 154,200,583 131,263,775 Public securities 75,289,433 63,895,371 Private securities 78,911,150 67,368,404 Derivative financial instruments 23,733,466 9,217,155 Securities trading and intermediation 2,932,319 3,271,000 Accounts receivable 681,190 597,887 Loan operations 28,551,935 22,211,161 Other financial assets 4,208,743 3,517,189 Off-balance exposures (credit card limits) 8,912,707 5,014,845 Total 238,109,921 182,696,832 (d) Liquidity risk Liquidity risk is the possibility that the institution will not be able to efficiently honor its expected, unexpected, current or future obligations. Liquidity management operates in line with the Group's strategy and business model, being compatible with the nature of operations, the complexity of its products and the relevance of risk exposure. This liquidity management policy establishes actions to be taken in cases of liquidity contingency, and these must be sufficient to generate a new meaning for cash within the required minimum limits. The group maintains an adequate level of liquidity at all times, always working with a minimum cash limit. This is done through management that is compatible and consistent with your ability obtaining resources in the market, with its budgetary targets for the evolution of the volume of its assets and is based on the management of cash flows, observing the minimum limits of daily cash balances and cash needs projections, in the management of stocks of highly liquid assets and simulations of adverse scenarios. Risk structure and management are the responsibility of the risk department, reporting to the Executive Board, thus avoiding any conflict of interest with departments that require liquidity. (d1) Maturities of financial liabilities The tables below summarizes the Group’s financial liabilities into groupings based on their contractual maturities: 2023 Liabilities Up to 1 month From 2 to 3 months From 3 to 12 months From 1 to 5 years Above 5 years Contractual cash flow Securities 19,949,021 — — — 474,053 20,423,074 Derivative financial instruments 5,580,573 2,719,744 6,773,980 7,873,062 1,838,057 24,785,416 Securities sold under repurchase agreements 32,796,941 543,570 — — — 33,340,511 Securities trading and intermediation 16,943,539 — — — — 16,943,539 Financing instruments payable 3,812,510 8,383,531 10,690,918 36,648,126 830,505 60,365,590 Borrowings — 10,796 2,188,626 — — 2,199,422 Accounts payables 948,218 — — — — 948,218 Other financial liabilities 5,815,141 756,864 4,588,231 1,056,580 14,560 12,231,376 Total 85,845,943 12,414,505 24,241,755 45,577,768 3,157,175 171,237,146 2022 Liabilities Up to 1 month From 2 to 3 months From 3 to 12 months From 1 to 5 years Above 5 years Contractual cash flow Securities 13,048,246 — — — 481,019 13,529,265 Derivative financial instruments 796,909 845,446 2,340,407 4,507,132 115,515 8,605,409 Securities sold under repurchase agreements 31,790,091 — — — — 31,790,091 Securities trading and intermediation 16,062,697 — — — — 16,062,697 Financing instruments payable 4,407,525 9,469,722 5,917,325 23,078,719 810,338 43,683,629 Borrowings — — 1,865,880 — 1,865,880 Accounts payables 617,394 — — — — 617,394 Other financial liabilities 5,959,212 534,835 4,432,215 627,951 — 11,554,213 Total 72,682,074 10,850,003 14,555,827 28,213,802 1,406,872 127,708,578 (e) Market risk Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises mainly three types of risk: foreign exchange variation, interest rates and share prices. The aim of market risk management is to control exposure to market risks, within acceptable parameters, while optimizing return. Market risk management for operations is carried out through policies, control procedures and prior identification of risks in new products and activities, with the purpose to maintain market risk exposure at levels considered acceptable by the Group and to meet the business strategy and limits defined by the Risk Committee. The main tool used to measure and control the exposure risk of the Group to the market, mainly in relation to their trading assets portfolio, is the Maps Luna program, which calculates the capital allocation based on the exposure risk factors in the regulations issued by Brazilian Central Bank (“BACEN”) for financial institutions, which are taken as a basis for the verification of the risk exposure of the assets of the Group. In order to comply with the provisions of the regulatory body, the financial institutions of the Group make daily control of the exposure by calculating the risk portions, recording the results in Document 2011 - Daily Statement of Capital Requirements (DDR) in BACEN Circular Letter No, 3,331/08, submitting it daily to this institution. With the formalized rules, the risk department has the objective of controlling, monitoring and ensuring compliance with the pre- established limits, and may refuse, in whole or in part, to receive and/or execute the requested transactions, upon immediate communication to customers, in addition to intervening in cases of non-compliance and reporting all atypical events to the Risk Committee. In addition to the control performed by the tool, the Group adopt guidelines to control the risk of the assets that mark the treasury operations so that the own portfolios of the participating companies are composed by assets that have low volatility and, consequently, less exposure to risk. In the case of non-compliance with the operational limits, the treasury manager shall take the necessary measures to reframe as quickly as possible. (e1) Currency risk The purpose of Group’s management of foreign exchange exposure is to mitigate the effects arising from variation in foreign exchange rates, which may present high volatility periods. The currency (or foreign exchange) risk arises from positions that are sensitive to oscillations in foreign exchange rates. These positions may be originated by financial instruments that are denominated in a currency other than the functional currency in which the balance sheet is measured or through positions in derivative instruments (for negotiation or hedge) and investments in subsidiaries abroad. The Group hold interest in XP Holding International LLC, XP Advisors Inc, and XP Holding UK Ltd, whose equity as of December 31, 2023 was US$83,991 thousand (US$74,150 thousand as of December 31, 2022), US$8,803 thousand (US$5,744 thousand as of December 31, 2022) and GBP 12,861 thousand (GBP 6,967 thousand as of December 31, 2022) respectively. The risk of the XP Holding International LLC and XP Advisors Inc is hedged with the objective of minimizing the volatility of the functional currency (BRL) against the US$ arising from foreign investment abroad (see Note 9). The foreign currency exposure risk of XP Holding UK Ltd is not hedged and is not material for the Group. (e2) Interest rate risk It arises from the possibility that the Group incurs in gains or losses arising from fluctuations in interest rates on its financial assets and liabilities. Below are presented the risk rates that the Group is exposed: • Selic/DI • IGPM • IPCA • PRE • Foreign exchange coupon (e3) Price risk Price risk is the risk arising from the change in the price of the investment fund portfolio and of shares listed on the stock exchange, held in the portfolio of the Group, which may affect its profit and loss. The price risk is controlled by the management of the Group, based on the diversification of its portfolio and/or through the use of derivatives contracts, such as options or futures. (e4) Sensitivity analysis According to the market information, the Group performed the sensitivity analysis by market risk factors considered relevant. The largest losses, by risk factor, in each of the scenarios were presented with an impact on the profit and loss, providing a view of the exposure by risk factor of the Group in exceptional scenarios. The following sensitivity analyzes do not consider the functioning dynamics of risk and treasury areas, since once these losses are detected, risk mitigation measures are quickly triggered, minimizing the possibility of significant losses. 2023 Trading portfolio Exposures Scenarios Risk factors Risk of variation in: I II III Fixed interest rate Fixed interest rate in Reais (258) 21,269 22,753 Exchange coupons Foreign currencies coupon rate (367) (18,174) (36,588) Foreign currencies Exchange rates 331 343,440 907,349 Price indexes Inflation coupon rates (103) (12,998) (24,579) Shares Shares prices (3,472) (251,572) (289,613) Seed Money (i) Seed Money (2,822) (70,566) (141,133) (6,691) 11,399 438,189 2022 Trading portfolio Exposures Scenarios Risk factors Risk of variation in: I II III Fixed interest rate Fixed interest rate in Reais (174) (231,438) (483,589) Exchange coupons Foreign currencies coupon rate (15) (5,407) (10,418) Foreign currencies Exchange rates (2,089) 22,825 (120,873) Price indexes Inflation coupon rates (118) (19,523) (40,147) Shares Shares prices (4,689) (46,927) (242,687) Seed Money (i) Seed Money (6,685) (167,106) (334,211) (13,770) (447,576) (1,231,925) (i) Related to seed money strategy, which includes several risk factors that are disclosed in aggregate. Scenario I: Increase of 1 basis point in the rates in the fixed interest rate yield, exchange coupons, inflation and 1 percentage point in the prices of shares, commodities and currencies; Scenario II: Project a variation of 25 percent in the rates of the fixed interest yield, exchange coupons, inflation, prices of shares, commodities and currencies, both rise and fall, being considered the largest losses resulting by risk factor; and Scenario III: Project a variation of 50 percent in the rates of the fixed interest yield, exchange coupons, inflation, prices of shares, commodities and currencies, both rise and fall, being considered the largest losses resulting from the risk factor. (f) Operating risk Operational risk is characterized by the possibility of losses resulting from external events or failure, deficiency or inadequacy of internal processes, people and systems, including legal risk. Operational risk events include the following categories: internal fraud; external fraud; labor demands and poor workplace safety; inappropriate practices relating to customers, products and services; damage to physical assets owned or used by XP; situations that cause the interruption of XP's activities; and failures in information technology systems, processes or infrastructure. The Group's main objective is to ensure the identification, classification and monitoring of situations that may generate financial losses, given the companies' reputation, as well as any regulatory assessment due to the occurrence of an operational risk event, XP adopts the model of 3 lines of defense, in which the main responsibility for the development and implementation of controls to deal with operational risks is attributed to the Management within each business unit, seeking to manage mainly: (i) Requirements of segregation of functions, including independent authorization for transactions; (ii) Requirements of reconciliation and monitoring of transactions; (iii) Compliance with legal and regulatory requirements; (iv) Documentation of controls and procedures; (v) Requirements of periodic assessment of the operating risks faced and the adequacy of the controls and procedures for dealing with the identified risks; (vi) Development of contingency plans; (vii) Professional training and development; and (viii) Ethical and business standards; In addition, the Group's financial institutions, in compliance with the provisions of Article 4, paragraph 2, of Resolution No, 3,380/06 of the National Monetary Council (“CMN”) of June 27, 2006, have a process that covers institutional policies, procedures, contingency and business continuity plans and systems for the occurrence of external events, in addition to formalizing the single structure required by the regulatory agency.

Capital management

Capital management	12 Months Ended
Capital management	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Capital management	Capital Management The Group’s objectives when managing capital are to safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders and maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The Group also monitors capital based on the net debt and the gearing ratio. Net debt is calculated as total debt (including borrowings, lease liabilities, structured financing and debentures as shown in the balance sheet) less cash and cash equivalent (including cash, securities purchased under resale agreements and certificate deposits as shown in the statement of cash flows). The gearing ratio corresponds to the net debt expressed as a percentage of total capital. The net debt and corresponding gearing ratios as of December 31, 2023 and 2022 were as follows: 2023 2022 Group debt (Note 37) (i) 8,512,319 8,175,437 Structured financing (Note 20 (b)) 1,841,790 1,933,522 Total debt 10,354,109 10,108,959 Cash (3,943,307) (3,553,126) Securities purchased under agreements to resell (Note 6 (a)) (2,760,296) (646,478) Certificate deposits (Securities) (Note 7 (a)) (67,985) (252,877) Deposits at Central Bank (Note 20 (a)) (2,438,896) (514,999) Net debt 1,143,625 5,141,479 Total equity attributable to owners of the parent company 19,449,352 17,035,735 Total capital 20,592,977 22,177,214 Gearing ratio % 5.55% 23.18% (i) Includes debentures and bonds designated as fair value through profit or loss. See Note 7(e) and 17, respectively. (i) Minimum capital requirements Although capital is managed considering the consolidated position, certain subsidiaries are subject to minimum capital requirement from local regulators. The subsidiary XP CCTVM, leader of the Prudential Conglomerate (which includes Banco XP and XP DTVM), under BACEN regulation regime, is required to maintain a minimum capital and follow aspects from the Basel Accord. The subsidiary XP Vida e Previdência operates in retirement plans business and is oversight by the SUSEP, being required to present Adjusted Shareholders' Equity (PLA) equal to or greater than the Minimum Required Capital (“CMR”), CMR is equivalent to the highest value between base capital and Venture Capital Liquidity (“CR”). On December 31, 2023 the subsidiaries XP CCTVM and XP Vida e Previdência were in compliance with all capital requirements. There is no requirement for compliance with a minimum capital for the other Group companies. (ii) Financial covenants In relation to the long-term debt contracts, including multilateral instruments, recorded within “Borrowings” (Note 19), the Group was required to comply with certain performance conditions, such as profitability and efficiency indexes. On December 31, 2023, there are no contracts under financial covenants (December 31, 2022 – R$279,828). The Group complied with these covenants throughout the duration of the contracts.

Cash flow information

Cash flow information	12 Months Ended
Cash flow information	Dec. 31, 2023
Disclosure of reconciliation of liabilities arising from financing activities [abstract]
Cash flow information	Cash flow information (i) Debt reconciliation Debt securities (i) Borrowings Lease liabilities Debentures and Notes Bonds Total Total debt as of January 1, 2021 284,087 208,448 335,250 — 827,785 Acquisitions/Issuance 1,570,639 116,248 500,018 3,691,262 5,878,167 Payments/repurchase (21,022) (55,349) (177,826) — (254,197) Revaluation — 24,234 — — 24,234 Net foreign exchange differences 73,426 7,486 — 431,250 512,162 Interest accrued 21,689 17,488 60,919 74,798 174,894 Interest paid (37) — (12,386) (69,004) (81,427) Total debt as of December 31, 2021 1,928,782 318,555 705,975 4,128,306 7,081,618 Total debt as of January 1, 2022 1,928,782 318,555 705,975 4,128,306 7,081,618 Acquisitions/Issuance — 49,853 1,890,500 — 1,940,353 Payments/repurchase (2,061) (99,655) (175,999) — (277,715) Revaluation — (89) — — (89) Net foreign exchange differences (87,158) (5,820) — (218,607) (311,585) Interest accrued 69,593 22,794 203,275 129,113 424,775 Interest paid (43,276) — (27,232) (127,429) (197,937) Total debt as of December 31, 2022 1,865,880 285,638 2,596,519 3,911,383 8,659,420 Total debt as of January 1, 2023 1,865,880 285,638 2,596,519 3,911,383 8,659,420 Acquisitions/Issuance 2,252,550 116,774 373,481 — 2,742,805 Business combination (Note 5(ii)) 978 19,802 — — 20,780 Payments/repurchase (1,833,937) (132,737) (527,687) (62,342) (2,556,703) Write-offs — (675) — — (675) Net foreign exchange differences (147,802) (6,967) — (319,952) (474,721) Interest accrued 61,753 22,927 392,857 134,148 611,685 Interest paid — — (28,396) (116,670) (145,066) Total debt as of December 31, 2023 2,199,422 304,762 2,806,774 3,546,567 8,857,525 Debt securities includes Debentures measured at FVPL presented in Note 7(e) and does not include fair value adjustments of (i) Debentures - R$120,280 (R$86,819 - 2022) and (ii) Bonds - R$224,927 (R$350,207 - 2022). (ii) Non-cash investing and financing activities Non-cash investing and financing activities disclosed in other notes are: (i) related to business combination with Banco Modal through an equity exchange transaction – R$2,097,326 (see Note 5 (ii)) and (ii) related to minority stake acquisitions in associates (see Note 5(ii)(c)(ii)) through accounts payable (R$739,743 – of which R$ 669,743 was paid in January 2024, R$ 35,000 will be paid in January 2025 and R$ 35,000 will be paid in January 2026), and through contingent consideration (R$50,000).

Subsequent events

Subsequent events	12 Months Ended
Subsequent events	Dec. 31, 2023
Disclosure of events after reporting period [Abstract]
Subsequent events	Subsequent events On February 20, 2024, the Board of Directors has approved a new share repurchase program, which aims to neutralize future shareholder dilution due to the vesting of Restricted Stock Units (RSUs) from the Company’s long-term incentive plan. The Company proposes to undertake a share repurchase program pursuant to which the Board can annually, in each calendar year, approve the repurchase by the Company of a number of Class A Common Shares equal to the number of RSUs that have vested or will vest during the current calendar year. Under the approved repurchase program for 2024, XP may repurchase up to 2,500,000 Class A Common Shares within the period commencing on February 28, 2024, and ending on December 27, 2024.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
Summary of significant accounting policies (Policies)	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Basis of preparation	Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”), currently described as "IFRS Accounting Standards” by the IFRS Foundation. The consolidated financial statements have been prepared on a historical cost basis, except for financial instruments that have been measured at fair value. The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group's accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 4. The consolidated financial statements are presented in Brazilian reais (“R$”),our functional currency, and all amounts disclosed in the financial statements and notes have been rounded off to the nearest thousand currency units unless otherwise stated. The balance sheet is presented in order of liquidity of assets and liabilities. The timing of their realization or settlement is dependent not just on their liquidity, but also on management’s judgements on expected movements in market prices and other relevant aspects. Certain reclassifications of prior period amounts have been made to conform to the current period presentation.
Segment reporting	Segment reporting In reviewing the operational performance of the Group and allocating resources, the Chief Operating Decision Maker of the Group (“CODM”), who is the Group’s Chief Executive Officer (“CEO”) and the Board of Directors (“BoD”), represented by statutory directors holders of ordinary shares of the immediate parent of the Company, reviews selected items of the statement of income and of comprehensive income. The CODM considers the whole Group as a single operating and reportable segment, monitoring operations, making decisions on fund allocation and evaluating performance based on a single operating segment. The CODM reviews relevant financial data on a combined basis for all subsidiaries. Disaggregated information is only reviewed at the revenue level (Note 28), with no corresponding detail at any margin or profitability levels. The Group’s revenue, results and assets for this one reportable segment can be determined by reference to the consolidated statement of income and of comprehensive income and consolidated balance sheet. See Note 28 (c) for a breakdown of revenues and income and selected assets by geographic location.
Foreign currency translation	Foreign currency translation (a) Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in Brazilian Reais (“R$”), which is the Group functional and presentation currency. The functional currency for all the Company’s subsidiaries in Brazil is also the Brazilian reais. Certain subsidiaries outside Brazil have different functional currencies, including US Dollar ("USD") and Pound Sterling (“GBP”). (b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized in the statement of income. They are deferred in equity if they relate to qualifying cash flow hedges and qualifying net investment hedges or are attributable to part of the net investment in a foreign operation. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in the statement of income as part of the fair value gain or loss. (c) Group companies The results and financial position of foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; • income and expenses for each statement of income and statement of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); and • all resulting exchange differences are recognized in other comprehensive income. On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognized in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit and loss, as part of the gain or loss on sale.
Business combinations	Business combinations The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the: • fair values of the assets transferred; • liabilities incurred to the former owners of the acquired business; • equity interests issued by the Group; • fair value of any asset or liability resulting from a contingent consideration arrangement; and • fair value of any pre-existing equity interest in the subsidiary. Identifiable assets acquired, and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expensed as incurred. The excess of the consideration transferred, amount of any non-controlling interest in the acquired entity and acquisition-date fair value of any previous equity interest in the acquired entity, over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognized directly in the statement of income as a bargain purchase. Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Contingent consideration, when applicable, is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in the statement of income. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquirer is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in the statement of income.
Financial instruments	Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. 1) Financial assets Initial recognition and measurement On initial recognition, financial assets are classified as instruments measured at amortized cost, fair value through other comprehensive income (“FVOCI”) or fair value through profit and loss (“FVPL”). The classification of financial assets at initial recognition is based on either (i) the Group’s business model for managing the financial assets and (ii) the instruments’ contractual cash flows characteristics. For a financial asset to be classified and measured at amortized cost or FVOCI, it needs to give rise to cash flows that are 'Solely Payments of Principal and Interest' (the "SPPI" criterion) on the principal amount outstanding. This assessment is referred to as the SPPI Test and is performed at an instrument level. The Group's business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model considers whether the group’s objective is to receive cash flows from holding the financial assets, from selling the assets or a combination of both. Purchases or sales of financial assets that require delivery of assets within a time frame set by regulation or market practice (regular way trades) are recognized on the trade date (i.e., the date that the Group commits to purchase or sell the asset). Classification and subsequent measurement (i) Financial assets at FVPL Financial assets at FVPL include Securities, financial assets designated upon initial recognition at FVPL, or financial assets mandatorily required to be measured at fair value. This category includes Securities and Derivative financial instruments, including equity instruments which the Group had not irrevocably elected to classify at FVOCI. Financial assets are classified as fair value through profit and loss if they either fail the contractual cash flow test or in the Group’s business model are acquired for the purpose of selling or repurchasing in the near term. Financial assets may be designated at FVPL on initial recognition if doing so eliminates, or significantly reduces, an accounting mismatch. Derivative financial instruments, including separated embedded derivatives, are also classified as fair value through profit and loss unless they are designated as effective hedging instruments. The fair value determination for over-the-counter ("OTC") derivatives include components which reflect the counterparty's credit risk (CVA - Credit Valuation Adjustment) and the funding cost above the risk-free rate (FVA - Funding Valuation Adjustment). Financial assets with cash flows that do not meet the SPPI criteria are classified and measured at FVPL, irrespective of the business model. Financial assets at FVPL are carried in the statement of financial position at fair value with net changes in fair value recognized in the statement of income. The net gain or loss recognized in the statement of income includes any dividend or interest earned on the financial asset. A derivative embedded in a hybrid contract, with a financial liability or non-financial host, is separated from the host and accounted for as a separate derivative if: (i) the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; (ii) and the hybrid contract is not measured at FVPL. Embedded derivatives are measured at fair value with changes in fair value recognized in the statement of income. Reassessment only occurs if there is either a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the FVPL category. A derivative embedded within a hybrid contract containing a financial asset host is not accounted for separately. The financial asset host together with the embedded derivative is required to be classified in its entirety as a financial asset at fair value through profit or loss. Investments held in trust account During the prior period presented in these consolidated financial statements, the Group had a certain class of securities owned by one of our subsidiaries, which qualify as financial instruments, primarily due to their short-term nature. These securities are classified as FVPL. The Group’s investments held in the trust account were comprised of money market funds and are recognized at fair value with the changes in fair value recognized in the consolidated statements of income. The estimated fair value of the investments held in the trust account was determined using available market information. (ii) Financial assets at FVOCI The Group measures financial assets at FVOCI if both of the following conditions are met: • The financial asset is held within a business model with the objective of both holding to collect contractual cash flows and to sell. • The contractual terms of the financial asset give rise on specified dates to cash flows that meet the SPPI criteria. For financial assets at FVOCI, interest income, foreign exchange revaluation and impairment losses or reversals are recognized in the statement of income. The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to profit and loss. The Group's financial assets at FVOCI includes certain debt instruments. Upon initial recognition, the Group can elect to classify irrevocably equity investments at FVOCI when they meet the definition of equity under IAS 32 - "Financial Instruments: Presentation" and are not financial assets at FVPL. The classification is determined on an instrument-by-instrument basis. Dividends are recognized as income in the profit and loss when the right of payment has been established, except when the Group benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at FVOCI are not subject to impairment assessment. The Group has no equity instruments that have been irrevocably classified under this category. (iii) Financial assets at amortized cost A financial asset is measured at amortized cost if both of the following conditions are met: • The financial asset is held within a business model with the objective to hold the financial asset in order to collect contractual cash flows. • The contractual terms of the financial asset give rise on specified dates to cash flows that meet the SPPI criteria. Financial assets at amortized cost are subsequently measured using the Effective Interest Rate ("EIR") method and are subject to impairment. Gains and losses are recognized in the statement of income when the asset is derecognized, modified or impaired. The Group's financial assets at amortized cost mainly includes ‘Securities’, 'Securities purchased under agreements to resell', 'Securities trading and intermediation', ‘Loan operations’, 'Accounts receivable' and 'Other financial assets’. The Group reclassifies financial assets only when its business approach for managing those assets changes. Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized when: • The contractual rights to receive cash flows from the asset have expired. • The Group has transferred its contractual rights to receive cash flows from the asset or has assumed a contractual obligation to pay the received cash flows in full without material delay to a third party under a "pass-through" arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset; or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Group has transferred its contractual rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay. Expected credit loss on financial assets The Group recognizes expected credit losses ("ECLs") for all financial assets not held at FVPL. ECLs are based on internal statistical models that are monitored and reviewed by the credit risk area. Due to the features of the credit and credit card portfolio, the internal statistic models are modeled by the credit risk area using specific parameters from historical data of those products were the ECL are measured by inputs of PD (Probability of Default), LGS (Loss Given Default) and EAD (Exposure at Default). For the credit and credit card portfolio, the Group classifies assets in three stages to measure the expected credit loss, in which the financial assets migrate from one stage to another in accordance with the changes in credit risk. Stage 1: all financial assets are initially recognized in this stage. It is understood that a financial asset in this stage does not present a significant increase in risk since initial recognition. The provision for this asset represents the expected loss resulting from possible noncompliance in the next 12 months. Stage 2: increase of the change in the risk of a default occurring based on internal models since initial recognition or overdue 30 days. If a significant increase in the risk is identified from the initial recognition, and no deterioration is realized, the financial asset falls within this stage. In this case, the amount related to the provision for expected loss reflects the estimated loss of the financial asset's remaining life (lifetime). Stage 3: overdue 90 days. The Group considers a financial asset in default when contractual payments are 90 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before considering any credit enhancements held by the Group. When a financial asset that migrated to stages 2 and 3 shows an improvement in credit risk, that financial asset can return to stage 1 as long as it meets the minimum cure period established by the credit risk area evaluating internal product data. Financial assets are written off when there is no reasonable expectation of recovery, such as a debtor failing to engage in a repayment plan with the company. The Group categorizes a loan or receivable for write-off when a debtor fails to make contractual payments more than 360 days past due. Where loans or receivables have been written off, the Group continues to engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognized in profit or loss. For accounts receivables, and other financial contract assets, the Group applies a simplified approach to calculating ECLs. Therefore, the Group does not track changes in credit risk but instead recognizes a loss allowance based on lifetime ECLs. The Group has established a provision that is based on its historical credit loss. For debt instruments at FVOCI, the Group applies the low credit risk simplification at every reporting date, the Group evaluates whether the debt instrument is considered to have low credit risk using all reasonable and supportable information that is available without undue cost or effort. In making that evaluation, the Group reassesses the internal credit rating of the debt instrument. In addition, the Group considers that there has been a significant increase in credit risk when contractual payments are more than 30 days past due. The Group, through its risk management area, applies policies, methods and procedures to mitigate its exposure to credit risk arising from insolvency attributable to counterparties. These policies, methods and procedures are applied in the grant and re-evaluated on a monthly basis using variables that held identify risk. The procedures applied to identify, measure, control and reduce exposure to credit risk are based on the individual level or grouped by similarity. Risk management for structured credit operations customers is carried out through analysis complemented by decision-making support tools based on internal risk assessment models. Standardized customers risk management, that is, which does not qualify as structured operations, is based on automated decision-making and internal risk assessment models, complemented, when the model is not comprehensive or precise enough, by teams of analysts specialized in this type of risk. Credits related to standardized customers are normally considered non-recoverable when they have a historical experience of losses and delays of more than 90 days. 2) Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at FVPL, amortized cost or as Derivative financial instruments designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of amortized cost, net of directly attributable transaction costs. The Group's financial liabilities include 'Securities’, 'Derivative financial instruments', 'Securities purchased under agreements to resell', 'Securities trading and intermediation', long-term debts such as 'Borrowings’ and ‘Financing Instruments payable – Debt securities', 'Accounts payables' and 'Other financial liabilities’. Classification and subsequent measurement (i) Financial liabilities at FVPL Financial liabilities at FVPL include securities loaned and derivatives financial instruments designated upon initial recognition as at FVPL. Financial liabilities are classified as securities loaned if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as fair value through profit and loss unless they are designated as effective hedging instruments. Gains or losses on liabilities at fair value through profit and loss are recognized in the statement of income. Financial liabilities designated upon initial recognition at FVPL are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. Securities loaned, and derivative financial instruments are classified as fair value through profit and loss and recognized at fair value. (ii) Financial liabilities designated at FVPL Classification and subsequent measurement The Group applied the fair value option as an alternative measurement for selected financial liabilities. Financial liabilities can be irrevocably designated as measured at FVPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases, or a group of financial instruments is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy. The amount of change in the fair value of the financial liabilities designated at FVPL that is attributable to changes in the credit risk of that liabilities shall be presented in other comprehensive income. See more information in Note 7(e). (iii) Amortized cost After initial recognition, these financial liabilities are subsequently measured at amortized cost using the Effective Interest Method (“EIR”) method. Gains and losses are recognized in profit and loss when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the EIR. This category generally applies to Securities sold under repurchase agreements, ‘Securities trading and intermediation’, 'Borrowings', 'Financing Instruments Payable', 'Accounts payables', ‘Lease liabilities’ and 'Other financial liabilities'. (iv) Commitments subject to possible redemption XPAC Acquisition Corp. redeemable shares The Group accounted for the common stock subject to redemption in cash held by the non-controlling interest holders of XPAC Acquisition Corp. as a financial liability measured at amortized cost. The instrument is initially recognized at fair value, net of derivative warrant liabilities component and the corresponding eligible transaction costs. The warrant component issued to the non-controlling interest holders of XPAC Acquisition Corp. were separately accounted as derivatives and measured at fair value with the changes in fair value recorded in the statement of income. On July 27, 2023, XPAC Acquisition Corp. was deconsolidated from XP Inc's Financial Statements due to the Purchase and Sponsor Handover Agreement (see note 5(ii)(c)(i)) and the redeemable shares were derecognized from the Group’s financial statements. Derecognition A financial liability is derecognized when the obligation under the liability is discharged, canceled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of income. 3) Fair value of financial instruments The fair value of financial instruments actively traded in organized financial markets is determined based on purchase prices quoted in the market at the close of business at the reporting date, without deducting transaction costs. The fair value of financial instruments for which there is no active market is determined by using measurement techniques. These techniques may include the use of recent market transactions (on an arm's length basis); reference to the current fair value of another similar instrument; analysis of discounted cash flows or other measurement models (see note 34). 4) Derivative financial instruments and hedging activities - IFRS 9 Derivative financial instruments are financial contracts, the value of which is derived from the value of the underlying assets, interest rates, indexes or currency exchange rates. Derivatives are initially recognized at fair value on the date a derivative contract is entered into, and they are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument and, if so, the nature of the item being hedged. The group designates certain derivatives as either: • hedges of the fair value of recognized assets or liabilities or a firm commitment (fair value hedges), or • hedges of a net investment in a foreign operation (net investment hedges). • hedges of expected cash flows to be paid on recognized liabilities (cash flow hedges). At inception of the hedge relationship, the group documents the economic relationship between hedging instruments and hedged items, including whether changes in the cash flows of the hedging instruments are expected to offset changes in the cash flows of hedged items. The group documents its risk management objective and strategy for undertaking its hedge transactions. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to profit and loss over the remaining period until maturity, using a recalculated effective interest rate. a) Hedge ineffectiveness Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. To evaluate the effectiveness and to measure the ineffectiveness of such strategies, The Group uses the Dollar Offset Method. The Dollar Offset Method is a quantitative method that consists of comparing the change in fair value or cash flows of the hedging instrument with the change in fair value or cash flows of the hedged item attributable to the hedged risk. b) Derivative warrant liabilities The Group evaluates if the warrants issued in connection with the Initial Public Offering (the “Public Warrants”) and the Private Placement Warrants issued by XPAC Acquisition Corp. are derivatives or contain features that qualify as embedded derivatives in accordance with IFRS 9 – Financial Instruments. The Group’s derivatives instruments are recorded at financial instruments measured at fair value through profit or loss. Accordingly, the Group recognizes the warrants as financial liabilities at fair value and remeasures the warrants at fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Group’s consolidated statements of income. The fair value has been measured based on the listed market price of such warrants. On July 27, 2023, XPAC Acquisition Corp. was deconsolidated from XP Inc's Financial Statements due to the Purchase and Sponsor Handover Agreement (see note 5(ii)(c)(i)) and the warrant liabilities expired.
Cash and cash equivalents	Cash and cash equivalents Cash is not subject to a significant risk of change in value and are held for the purpose of meeting short-term cash commitments and not for investments or other purposes. Transactions are considered short-term when they have maturities in three months or less from the date of acquisition. For purposes of consolidated statement of cash flows, cash equivalents refer to collateral held securities purchased under agreements to resell, bank deposit certificates measured at fair value through profit and loss and other deposits that are readily convertible into a known cash amount and for which are no subject to a significant risk of change in value.
Securities purchased under agreements to resell and obligations related to securities sold under repurchase agreements	Securities purchased under agreements to resell and obligations related to securities sold under repurchase agreements The Group has purchased securities with resale agreement (resale agreements) and sold securities with repurchase agreement (repurchase agreement) of financial assets. Resale and repurchase agreements are accounted for under Securities purchased under agreements to resell and Securities sold under repurchase agreements, respectively. The difference between the sale and repurchase prices is treated as interest and recognized over the life of the agreements using the effective interest rate method. The financial assets accepted as collateral in our resale agreements can be used by us, if provided for in the agreements, as collateral for our repurchase agreements or can be sold.
Securities trading and intermediation (receivable and payable)	Securities trading and intermediation (receivable and payable) Refers to transactions at B3 S.A. – Brasil, Bolsa, Balcão (“B3”) on behalf of and on account of third parties. Brokerages on these transactions are classified as revenues and service provision expenses are recognized at the time of the transactions. These balances are offset, and the net amount shown in the balance sheet when, and only when, there is a legal and enforceable right to offset and the intention to liquidate them on a net basis, or to realize the assets and settle the liabilities simultaneously. Amounts due from and to customers represent receivables for securities sold and payables for securities purchased that have been contracted for but not yet settled or delivered on the balance sheet date respectively. The due from customers balance is held for collection. These amounts are subdivided into the following items: • Cash and settlement records - Represented by the registration of transactions carried out on the stock exchanges on its own behalf and for customers, which includes any asset liquidity event; and • Debtors/Creditors pending settlement account - debtor or creditor balances of customers, in connection with transactions with fixed income securities, shares, commodities and financial assets, pending settlement as of the statement of reporting date. Sales transactions are offset and, in the event, the final amount is a credit, it will be recorded in liabilities, on the other hand if this amount is debt, it will be recorded in assets, provided that the offset balances refer to the same counterparty. • Customer’s cash on investment account - represents customer’s cash balances that are held in XP CCTVM. These amounts are recognized initially at fair value and subsequently measured at amortized cost. At each reporting date, the Group shall measure the loss allowance on amounts due from customers at an amount equal to the lifetime expected credit losses if the credit risk has increased significantly since initial recognition. If, at the reporting date, the credit risk has not increased significantly since initial recognition, the Group shall measure the loss allowance at an amount equal to 12-month expected credit losses. Significant financial difficulties of the customer, probability that the customer will enter bankruptcy or financial reorganization, and default in payments are all considered indicators that a loss allowance may be required. If the credit risk increases to the point that it is considered to be credit impaired, interest income will be calculated based on the gross carrying amount adjusted for the loss allowance. A significant increase in credit risk is defined by management as any contractual payment which is more than 30 days past due. Any contractual payment which is more than 90 days past due is considered credit impaired. The estimated credit losses for brokerage clients and related activity were immaterial for all periods presented.
Loan operations	Loan operations Loan operations consist in arrangements under which clients can borrow stipulated amounts under defined terms and conditions. They are initially measured at its fair value plus transaction costs that are directly attributable to the acquisition and subsequently measured at amortized cost using the effective interest method, less expected credit loss. See note 10 for further information about the Group’s accounting for loan operations and note 3(ii) for a description of the Group’s expected losses on financial assets. Interest income from these financial assets is included in net income from financial instruments at amortized cost using the effective interest rate method. Any gain or loss arising on derecognition of the loan operations is recognized directly in the statement of income and presented in Note 14. Expected credit losses are presented as a separate line item in the statement of income.
Prepaid expenses	Prepaid expenses Prepaid expenses are recognized as an asset in the balance sheet. These expenditures include mainly incentives to IFAs, prepaid software licenses, certain professional services and insurance premiums. Prepaid expenses are amortized in profit and loss in the period in which the benefits of such items are realized.
Leases	Leases Right-of-use assets The Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Group is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. Right-of-use assets are subject to impairment. Lease liabilities At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating a lease, if the lease term reflects the Group exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expenses in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Short-term leases and leases of low-value assets The Group applies the short-term lease recognition exemption to its short-term leases of properties (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered of low value. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease term. Significant judgement in determining the lease term of contracts with renewal options The Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised. The Group has the option, under some of its leases to lease the assets for additional terms. The Group applies judgement in evaluating whether it is reasonably certain to exercise the option to renew. That is, it considers all relevant factors that create an economic incentive for it to exercise the renewal. After the commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise (or not to exercise) the option to renew (e.g., a change in business strategy).
Property and equipment	Property and equipment All property and equipment are stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditures that are directly attributable to the acquisition of the items and, if applicable, net of tax credits. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item is material and can be measured reliably. All other repairs and maintenance expenditures are charged to profit and loss during the period in which they are incurred. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Annual Rate (%) Data Processing Systems 20 % Furniture and equipment 10 % Security systems 10 % Facilities 10 % Vehicle 10 % Assets’ residual values, useful lives and methods of depreciation are reviewed at each reporting date and adjusted prospectively, if appropriate. An asset’s carrying amount is written down immediately to its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use, if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals or derecognition are determined by comparing the disposal proceeds (if any) with the carrying amount and are recognized in the statement of income.
Intangible assets	Intangible assets i) Goodwill Goodwill arises on the acquisition of subsidiaries and represents the excess of (i) the consideration transferred; the amount of any non-controlling interest in the acquiree; and the acquisition-date fair value of any previous equity interest in the acquiree over (ii) the fair value of the identifiable net assets acquired. If the total of the consideration transferred, non-controlling interest recognized and previously held interest measured at fair value is less than the fair value of the net assets of the subsidiary acquired, which is the case of a bargain purchase, the difference is recognized directly in the statement of income. Goodwill impairment reviews are undertaken annually or more frequently if events or changes in circumstances indicate a potential impairment. ii) Software and development costs Certain direct development costs associated with internally developed software and software enhancements of the Group’s technology platform is capitalized. Capitalized costs, which occur post determination by management of technical feasibility, include external services and internal payroll costs. These costs are recorded as intangible assets when development is complete, and the asset is ready for use, and are amortized on a straight-line basis, during the period which is expected economic benefits generation to the Group. Research and pre-feasibility development costs, as well as maintenance and training costs, are expensed as incurred. In certain circumstances, management may determine that previously developed software and its related expense no longer meets management’s definition of feasible, which could then result in the impairment of such assets. iii) Other intangible assets Separately acquired intangible assets are measured at cost on initial recognition. The cost of intangible assets acquired in a business combination corresponds to their fair value at the acquisition date. After initial recognition, intangible assets are stated at cost, less any accumulated amortization and accumulated impairment losses. Internally generated intangible assets other than software are not capitalized and the related expenditure is reflected in the statement of income in the period in which the expenditure is incurred. The useful life of intangible assets is assessed as finite or indefinite. As of December 31, 2023 and 2022, the Group does not hold indefinite life intangible assets, except for goodwill. Intangible assets with finite useful lives are amortized over their estimated useful lives and tested for impairment whenever there is an indication that their carrying amount may not be recoverable. The period and method of amortization for intangible assets with finite lives are reviewed at least at the end of each fiscal year or when there are indicators of impairment. Changes in estimated useful lives or expected consumption of future economic benefits embodied in the assets are considered to modify the amortization period or method, as appropriate, and treated as changes in accounting estimates. The amortization of intangible assets with definite lives is recognized in the statement of income in the expense category consistent with the use of intangible assets. The useful lives of the intangible assets are shown below: Estimate useful life (years) (*) Software 3-5 Internally developed intangible 3-7 Customer list 2-8 Trademarks 10-20 Gains and losses recognized in profit and loss resulting from the disposal or derecognition of intangible assets are measured as the difference between the net disposal proceeds (if any) and their carrying amount.
Impairment of non-financial assets	Impairment of non-financial assets Assets that have an indefinite useful life, for example goodwill, are not subject to amortization and are tested annually for impairment. Goodwill impairment reviews are undertaken annually or more frequently if events or changes in circumstances indicate a potential impairment. Assets that are subject to depreciation or amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized when the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and its value in use. For the purpose of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (Cash-generating units (CGU's)). For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the CGUs (or groups of CGUs) that is expected to benefit from the synergies of the combination, which are identified at the operating segment level. Non-financial assets other than goodwill that were adjusted due to impairment are subsequently reviewed for possible reversal of the impairment at the balance sheet date. The impairment of goodwill recognized in the statement of income is not reversible.
Taxes	Taxes i) Current income and social contribution taxes Each of Group’s entities pay Federal Income Tax (IRPJ) and Social Contribution on Net Income (CSLL) under one of two different methods: • Actual Profit Method (“APM”), where the taxpayer calculates both taxes based on its actual taxable income, after computing all income, gains and tax-deductible expenses, including net operating losses of prior years. Taxes calculated under the APM method are due quarterly or annually depending on entity’s adoption through the first collection document of each calendar year. APM annual method requires taxpayers to make monthly prepayments of IRPJ and CSLL during the calendar-year. • Presumed Profit Method (“PPM”), where the taxpayer calculates IRPJ and CSLL applying a presumed profit margin over the operating revenues. It is important to emphasize that the profit margin is defined by the Brazilian Revenue Service (“RFB”) according to the type of services rendered and/or goods sold. Under the PPM method, both taxes are due on a quarterly basis and no prepayment is required during the quarters. This method can be adopted only by entities with gross revenue up to an annually revised threshold determined by tax authorities. The tax rates applicable to APM or PPM are also defined according to entities’ main activity: • Federal Income Tax (IRPJ) – tax rate of 15% calculated on taxable income and a surcharge of 10% calculated on the taxable income amount that exceeds R$20 per month (or R$240 annually). • Social Contribution on Net Income (CSLL) – tax rate of 9% calculated on taxable income. However, banks (i.e., Banco XP and Banco Modal) are subject to a higher CSLL rate of 20%, while all other companies treated as financial entities for tax purposes (i.e., XP CCTVM, Modal DTVM, XP DTVM and XP Vida e Previdência) are subject to a CSLL rate of 15%. As of July 2021, the rate of CSLL was increased by 5% for all Brazilian financial entities until December 2021. Therefore, Brazilian banks were subject to a CSLL rate of 25% and all other financial entities, including insurance companies, were subject to a rate of 20% by means of federal Law 13.148/2021. As of January 2022, the tax rate returned to the regular percentage of 20% for banks and 15% for all other financial entities, including insurance companies. As of August 2022, by means of federal Law 14.446 the CSLL rate was increased in 1% for all Brazilian Financial entities until December 2022. Therefore, during that period between August and December 2022, Brazilian banks were subject to a CSLL rate of 21% and all other financial entities, including insurance companies, were subject to a rate of 16%. With the ending of Law 14.446/2022 enforceability, the rates of CSLL applied for banks returned to the regular level of 20%, and 15% for all other financial entities. ii) Deferred income tax and social contribution Deferred income tax and social contribution are recognized, using the liability method, on temporary differences between the tax bases of assets and liabilities and their carrying amounts in the financial statements. However, deferred taxes are not accounted for if they arise from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit and loss. Deferred tax assets are recognized only to the extent it is probable that future taxable profit will be available against which the temporary differences and/or tax losses can be utilized. In accordance with the Brazilian tax legislation, loss carryforwards can be used to offset up to 30% of taxable profit for the year and do not expire. Deferred tax is provided on temporary differences arising on investments in subsidiaries, except for a deferred tax liability where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets and liabilities are presented net in the statement of financial position when there is a legally enforceable right and the intention is to offset them upon the calculation of current taxes, generally when related to the same legal entity and the same jurisdiction. Accordingly, deferred tax assets and liabilities in different entities or in different countries are generally presented separately, and not on a net basis. iii) Sales and other taxes Revenues, expenses and assets are recognized net of sales tax, except: • When the sales taxes incurred on the purchase of goods or services are not recoverable from tax authorities, in which case the sales tax is recognized as part of the cost of acquiring the asset or expense item, as applicable. • When the amounts receivable or payable are stated with the amount of sales taxes included. The net amount of sales taxes, recoverable or payable to the tax authority, is included as part of receivables or payables in the balance sheet, and net of corresponding revenue or cost/expense, in the statement of income. Sales revenues in Brazil are subject to taxes and contributions, at the following statutory rates: • PIS and COFINS are contributions levied by the Brazilian Federal government on gross revenues. These amounts are invoiced to and collected from the Group’s customers and recognized as deductions to gross revenue (Note 28) against tax liabilities, as we are acting as tax withholding agents on behalf of the tax authorities. PIS and COFINS paid on certain purchases may be claimed back as tax credits to offset PIS and COFINS payable. These amounts are recognized as Recoverable taxes (Note 12) and are offset monthly against Taxes payable and presented net, as the amounts are due to the same tax authority. PIS and COFINS are contributions calculated on two different regimes according to Brazilian tax legislation: cumulative method and non-cumulative method. The non-cumulative method is mandatory to companies that calculate income tax under the Actual Profit Method (APM). The applicable rates of PIS and COFINS are 1.65% and 7.60%, respectively. Otherwise, the cumulative method should be adopted by entities under the Presumed Profit Method (PPM) and is also mandatory to Financial and Insurance Companies. The rates applicable to companies under PPM are PIS 0.65% and COFINS 3.00%. Financial entities (i.e., XP CCTVM, Modal DTVM, Banco Modal, Banco XP and XP DTVM) and insurance companies (i.e., XP Vida e Previdência) have a different percentage of COFINS with the surcharge of 1.00%, totaling 4.00%. • The tax on services (“ISS”) is a tax levied by municipalities on revenues from the provision of services. ISS tax is added to amounts invoiced to the Group’s customers for the services the Group renders. These are recognized as deductions to gross revenue (Note 28) against tax liabilities, as the Group acts as agent collecting these taxes on behalf of municipal governments. The rates may vary from 2.00% to 5.00%. Currently, majority of XP Group’s entities are based in the cities of São Paulo and Rio de Janeiro then, revenues perceived by those companies are subject to rates defined by those cities’ Laws.
Equity security loans	Equity security loans Represent liabilities to return cash proceeds from security lending transactions. Securities lending transactions are used primarily to earn spread income which relates mainly to equity securities received with a fixed term payable, based on the fair value of the securities plus pro rata interest over the period of the equity security loan. Equity securities borrowed are recognized as unrestricted assets on the statement of financial position and may be sold to third parties. The equity security loans are recorded as a trading liability and measured at fair value with any gains or losses included in the income statement under net fair value gains/(losses) on financial instruments (Note 28 b).
Debt securities and Borrowings	Debt securities and Borrowings Debt securities classified as Debentures, Bonds, Promissory Notes and Borrowings are initially recognized at fair value, net of transaction costs incurred, and subsequently carried at amortized cost. Any differences between the proceeds (net of transaction costs) and the total amount payable is recognized in the statement of income over the period of the borrowings using the effective interest rate method.
Accounts payables	Accounts payables Accounts payables are obligations to pay for goods or services that have been acquired in the ordinary course of business. Accounts payables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest rate method.
Private pension liabilities	Retirement plans liabilities Retirement plans, relates to accumulation of financial resources, called PGBL (Plan Generator of Benefits), a plan that aims at accumulating funds for participant’s retirement in life, and VGBL (Redeemable Life Insurance), a financial product structured as a pension plan. In both products, the contribution received from the participant is applied to a Specially Constituted Investment Fund (“FIE”) and accrues interest based on FIE investments. The retirement plans offered by the Group do not contain significant insurance risk where the Group accepts significant insurance risk from participants by agreeing to compensate them if a specified uncertain future event adversely affects them. These products also do not contain any discretionary participation features. Therefore, the contracts are accounted for under the scope of IFRS 9 - Financial Instruments (“IFRS 9”).
Provisions	Provisions Provisions for legal claims (labor, civil and tax) and other risks are recognized when: (i) the Group has a present legal or constructive obligation as a result of past events; (ii) it is probable that an outflow of resources will be required to settle the obligation; and (iii) the amount can be reliably estimated. Provisions do not include future operating losses. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to the time elapsed is recognized as interest expense.
Employee benefits	Employee benefits i) Short-term obligations Liabilities in connection with short-term employee benefits are measured on a non-discounted basis and are expensed as the related service is provided. The liability is recognized for the expected amount to be paid under the plans of cash bonus or short-term profit sharing if the Group has a legal or constructive obligation of paying this amount due to past service provided by employees and the obligation may be reliably estimated. ii) Share-based plan The establishment of the shared-based plan was approved by the board of Director’s meeting on December 6, 2019. The Group launched two share-based plans, the Restricted Stock Unit “RSU” and the Performance Share Unit (“PSU”). The shared-based plans are designed to provide long-term incentives to certain employees, directors, and other eligible service providers in exchange for their services. For both plans, management commits to grant shares of XP Inc to the defined participants. The cost of share-based compensation is measured using the fair value at the grant date. The cost is expensed together with a corresponding increase in equity over the service period or on the grant date when the grant relates to past services. The total amount to be expensed is determined by reference to the fair value of the tranche shares granted at the grant date, which is also based on: • Including any market performance conditions; • Including the impact of any non-market performance vesting conditions (i.e. remaining an employee of the entity over a specified time), and; • Including the impact of any non-vesting conditions (i.e. the requirement for participants to save or hold shares for a specific period of time). The total expense is recognized over the vesting period, which is the period over which all of the specified vesting conditions have to be satisfied. At the end of each period, the entity revises its estimates of the number of shares that are expected to vest based on the non-market vesting conditions. The Company recognizes the impact of the revision to original estimates, if any, in the statement of income, with a corresponding adjustment to equity. When the shares are vested, the Company transfers the correspondent number of shares to the participant. The shares received by the participants, net of any directly attributable transaction costs (including withholding taxes) are credited directly to equity. The significant judgments, estimates and assumptions regarding share-based payments and activity relating to share-based payments are discussed further in note 32. iii) Profit-sharing and bonus plans The Group recognizes a liability and an expense for bonuses and profit-sharing based on a formula that takes into consideration the profit attributable to the owners of the Company after certain adjustments, and distributed based on individual and collective performance, including qualitative and quantitative indicators. Employee profit-sharing terms are broadly established by means of annual collective bargaining with workers’ unions. The Group recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation.
Share capital	Share capital Common shares are classified in equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Treasury shares	Treasury shares Own equity instruments that are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in the statement of income on the purchase, sale, issue or cancellation of the Group’s own equity instruments. The difference between the sale price and the average price of the treasury shares is recorded as a reduction or increase in capital reserves. The cancellation of treasury shares is recorded as a reduction in treasury shares against capital reserves, at the average price of treasury shares at the cancellation date.
Earnings per share	Earnings per share Basic earnings per share is calculated by dividing the profit attributable to owners of the Company, excluding any costs of servicing equity other than ordinary and preferred shares by the weighted average number of ordinary and preferred shares outstanding during the year, adjusted for bonus elements in ordinary and preferred shares issued during the year and excluding treasury shares (note 33). Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after-income tax effect of interest and other financing costs associated with dilutive potential common and preferred shares, and the weighted average number of additional common and preferred shares that would have been outstanding assuming the conversion of all dilutive potential common and preferred shares (Note 33).
Revenue and income	Revenue and income 1) Revenue from contracts with customers Revenue is recognized when the Group has transferred control of the services to the customers, in an amount that reflects the consideration the Group expects to collect in exchange for those services. The Group applies the following five steps: i) identification of the contract with a customer; ii) identification of the performance obligations in the contract; iii) determination of the transaction price; iv) allocation of the transaction price to the performance obligations in the contract; and v) recognition of revenue when or as the entity satisfies a performance obligation. Revenue is recognized net of taxes collected from customers, which are subsequently remitted to governmental authorities. The Group has discretion to involve and contract a third-party provider in providing services to the customer on its behalf. The Group presents the revenues and associated costs to such third-party providers on a gross basis where it is deemed to be the principal and on a net basis where it is deemed to be the agent. Generally, the Group is deemed to be the principal in these arrangements because the Group controls the promised services before they are transferred to customers, and accordingly presents the revenue gross of related costs. The Group main types of revenues contracts are: i) Brokerage commission Brokerage commission revenue consists of revenue generated through commission-based brokerage services on each transaction carried out on, for example, the stock exchanges for customers, recognized at a point in time (trade date) as the performance obligation is satisfied. ii) Securities placement Securities placement revenue refers to fees and commissions earned on the placement of a wide range of securities on behalf of issuers and other capital raising activities, such as mergers and acquisitions, including related finance advisory services. The act of placing the securities is the sole performance obligation and revenue is recognized at the point in time when the underlying transaction is complete under the engagement terms and it is probable that a significant revenue reversal will not occur. iii) Management fees Management fees relate substantially to (i) services as investments advisor from funds, investment clubs and wealth management; and (ii) distributions of quotas from investments funds managed by others. Revenue is recognized over the period of time when this performance obligation is delivered, and generally based on an agreed-upon fixed percentage of the net asset value of each fund on a monthly basis. A part of management fees are performance-based (performance fees), which are recognized for the delivery of asset management services and calculated based on appreciation of the net asset value of the funds, subject to certain thresholds, such as internal rates of returns or hurdle rates in accordance with the terms of the fund’s constitution. Performance fees, which includes variable consideration, are only recognized after an assessment of the facts and circumstances and when it is highly probable that significant reversal of the amount of cumulative revenue recognized will not occur when the uncertainty is resolved. iv) Insurance brokerage fee Refers to insurance brokerage, capitalization, retirement plans and health insurance through the intermediation of the sale of insurance services. Revenues are recognized after the provision of brokerage services to insurers. Products that were sold through XP Corretora de Seguros are inspected monthly, and amounts received from commission are recognized as revenue at a point in time as the performance obligation is satisfied. v) Educational services Educational revenue relates to advising and consulting on finance, financial planning, business management and the development of courses and business training programs in the national territory through the development and management of courses. vi) Commissions fees Commissions fees are recognized when XP provides or offers services to customers, in an amount that reflects the consideration XP expects to collect in exchange for those services. A five-step model is applied to account for revenues: i) identification of the contract with a customer; ii) identification of the performance obligations in the contract; iii) determination of the transaction price; iv) allocation of the transaction price to the performance obligations in the contract; and v) revenue recognition, when performance obligations agreed upon in agreements with clients are met. Incremental costs and costs to fulfill agreements with clients are recognized as an expense as incurred. vii) Interchange Fee Interchange fees revenue represents fees for authorizing and providing settlement on credit and debit card transactions processed through the Visa networks and is determined as a variable percentage - depending on the type of establishment in which the customer buys - of the total payment processed when the Group’s customers use XP’s cards. The fees are recognized on completion of the transaction and once the Group has completed its performance obligations under the contract. viii) Other services Other services refer to revenue related to finance advisory services, advertisements on the Group’s website and sponsorship on events held by the Group. 2) Net income from financial instruments Net income from financial instruments include realized gains and losses on the sales of investments, unrealized gains and losses resulting from our investments measured at fair value and interest earned on both cash balances and investments in connection with our trading activities. These gains and losses are outside the scope of IFRS 15 but in scope of IFRS 9 – Financial Instruments, and the related accounting policies are disclosed in Note 3.
Derivative financial instruments	The Group trades derivative financial instruments with various counterparties to manage its overall exposures (interest rate, foreign currency and fair value of financial instruments) and to assist its customers in managing their own exposures. The fair value of derivative financial instruments, comprised of futures, forward, options, and swaps operations, is determined in accordance with the following criteria: • Swap – These operations swap cash flow based on the comparison of profitability between two indexers, thus, the agent assumes both positions – put in one indexer and call on another. • Forward - at the market quotation value, and the installments receivable or payable are fixed to a future date, adjusted to present value, based on market rates published at B3. • Futures – Foreign exchange rates, prices of shares and commodities are commitments to buy or sell a financial instrument at a future date, at a contracted price or yield and may be settled in cash or through delivery. Daily cash settlements of price movements are made for all instruments. • Options - option contracts give the purchaser the right to buy or sell the instrument at a fixed price negotiated at a future date. Those who acquire the right must pay a premium to the seller of the right. This premium is not the price of the instrument, but only an amount paid to have the option (possibility) to buy or sell the instrument at a future date for a previously agreed price.
Impairment test for goodwill	Given the interdependency of cash flows and the merger of business practices, all Group’s entities are considered a single cash generating unit (“CGU”) and, therefore, a goodwill impairment test is performed at the single operating level. Therefore, the carrying amount considered for the impairment test represents the Company’s equity. The Group tests whether goodwill has suffered any impairment on an annual basis or more frequently if there is an impairment indicator. For the years ended December 31, 2023 and 2022, the recoverable amount of the single CGU was determined based on value-in-use calculations which require the use of assumptions. The calculations use cash flow projections based on financial budgets approved by management covering a four-year period. Cash flows beyond the four-year period are extrapolated using the estimated growth rates, which are consistent with forecasts included in industry reports specific to the industry in which the Group operates. The Group performed its annual impairment test as of December 31, 2023 and 2022 which did not result in the need to recognize impairment losses on the carrying value of goodwill. Key assumptions used in value-in-use calculations and sensitivity to changes in assumptions are: Assumption Approach used to determine values Sales Average annual growth rate over the four-year forecast period; based on management’s expectations of market development. Budgeted gross margin Based on management’s expectations for the future. Other operating costs Fixed costs, which do not vary significantly with sales volumes or prices. Management forecasts these costs based on the current structure of the business, adjusting for inflationary increases but not reflecting any future restructurings or cost saving measures. The amounts disclosed above are the average operating costs for the four-year forecast period. Annual capital expenditure Expected cash costs. This is based on the experience of management, and the planned refurbishment expenditure. No incremental revenue or cost savings are assumed in the value-in-use model as a result of this expenditure. Long-term growth rate This is the weighted average growth rate used to extrapolate cash flows beyond the budget period. The rates are consistent with forecasts included in industry reports. Pre-tax discount rates Reflect specific risks relating to the relevant segments and the countries in which they operate. The long-term growth rate utilized in the impairment test of goodwill is 3.50%.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
Summary of significant accounting policies (Tables)	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Disclosure Of Detailed Information About Depreciation Rates Of Property Plant And Equipment	Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Annual Rate (%) Data Processing Systems 20 % Furniture and equipment 10 % Security systems 10 % Facilities 10 % Vehicle 10 %
Disclosure Of Detailed Information About Useful Life Of Intangible Assets	The useful lives of the intangible assets are shown below: Estimate useful life (years) (*) Software 3-5 Internally developed intangible 3-7 Customer list 2-8 Trademarks 10-20

Group structure (Tables)

Group structure (Tables)	12 Months Ended
Group structure (Tables)	Dec. 31, 2023
Disclosure of subsidiaries [abstract]
Summary of direct and indirect interests of company in its subsidiaries	The following are the direct and indirect interests of Company in its subsidiaries for the purposes of these consolidated financial statements: % of Group’s interest (i) Entity name Country of incorporation Principal activities 2023 2022 2021 Directly controlled XP Investimentos S.A. Brazil Holding 100.00 % 100.00 % 100.00 % XPAC Sponsor LLC Cayman Special Purpose Acquisition (SPAC) Sponsor 100.00 % 100.00 % 100.00 % XProject LTD Cayman Holding 100.00 % 100.00 % 100.00 % XP Holding International LLC USA International financial holding 100.00 % 100.00 % 100.00 % XP Advisory US USA Investment advisor 100.00 % 100.00 % 100.00 % XP Holding UK Ltd UK International financial holding 100.00 % 100.00 % 100.00 % XP Controle 6 Participações S.A. (iv) Brazil Holding 100.00 % — — Indirectly controlled XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A. Brazil Broker-dealer 100.00 % 100.00 % 100.00 % XP Vida e Previdência S.A. (iii) Brazil Retirement plans and insurance 100.00 % 100.00 % 100.00 % Banco XP S.A. Brazil Multipurpose bank 100.00 % 100.00 % 100.00 % XP Controle 3 Participações S.A. Brazil Financial Holding 100.00 % 100.00 % 100.00 % XPE Infomoney Educação Assessoria Empresarial e Participações Ltda. Brazil Digital content services 100.00 % 100.00 % 100.00 % Tecfinance Informática e Projetos de Sistemas Ltda. Brazil Rendering of IT services 99.70 % 99.73 % 99.73 % XP Corretora de Seguros Ltda. Brazil Insurance broker 99.99 % 99.99 % 99.99 % XP Gestão de Recursos Ltda. Brazil Asset management 95.50 % 95.60 % 94.90 % XP Finanças Assessoria Financeira Ltda. Brazil Investment consulting service 99.99 % 99.99 % 99.99 % Infostocks Informações e Sistemas Ltda. Brazil Mediation of information systems 100.00 % 99.99 % 99.99 % XP Advisory Gestão Recursos Ltda. Brazil Asset management 99.53 % 99.55 % 99.54 % XP Vista Asset Management Ltda. Brazil Asset management 99.99 % 99.99 % 99.50 % XP Controle 4 Participações S.A. Brazil Insurance holding 100.00 % 100.00 % 100.00 % XP Investments UK LLP UK Inter-dealer broker and Organized Trading Facility (OTF) 100.00 % 100.00 % 100.00 % XP Holding UK Ltd UK International financial holding 100.00 % 100.00 % 100.00 % XP Investments US, LLC USA Broker-dealer 100.00 % 100.00 % 100.00 % XP PE Gestão de Recursos Ltda. Brazil Asset management 98.10 % 98.70 % 98.70 % Antecipa S.A. Brazil Receivables financing market 100.00 % 100.00 % 100.00 % XP Allocation Asset Management Ltda. Brazil Asset management 99.97 % 99.99 % 99.99 % XP Eventos Ltda. Brazil Media and events 100.00 % 100.00 % 99.90 % DM10 Corretora de Seguros Ltda. Brazil Insurance broker 100.00 % 100.00 % 100.00 % XP Comercializadora de Energia Ltda. Brazil Energy trading 100.00 % 100.00 % 100.00 % XPAC Acquisition Corp. (vi) Cayman Special Purpose Acquisition (SPAC) — 20.00 % 20.00 % XP Distribuidora de Títulos e Valores Mobiliários Brazil Securities dealer 100.00 % 100.00 % 100.00 % Instituto de Gestão e Tecnologia da Informação Ltda. Brazil Educational content services 100.00 % 100.00 % 100.00 % Xtage Intermediação S.A. Brazil Digital assets 100.00 % 100.00 % 100.00 % XP Administradora de Benefícios Ltda. Brazil Individual health plan intermediation 100.00 % 100.00 % — BTR Administração e Corretagem de Seguros S.A. (ii) Brazil Retirement plans and insurance 100.00 % 100.00 % — XP Representação Seguros Ltda. (iv) Brazil Insurance broker 100.00 % — — Banco Modal S.A. (ii) Brazil Multipurpose bank 100.00 % — — Modal Assessoria Financeira Ltda. (ii) Brazil Investment consulting services 100.00 % — — % of Group’s interest (i) Entity name Country of incorporation Principal activities 2023 2022 2021 Modal Distribuidora de Títulos e Valores Mobiliários Ltda. (ii) Brazil Securities dealer 100.00 % — — Modalmais Treinamento e Desenvolvimento Ltda. (ii) Brazil Professional training services 100.00 % — — Modal Corretora de Seguros Ltda. (ii) Brazil Insurance broker 100.00 % — — Eleven Serviços de Consultoria e Análise S.A. (ii) Brazil Investment consulting services 100.00 % — — Banking and Trading Desenvolvimento de Sistemas Ltda. (“Carteira Global”) (ii) Brazil Softwares development services 100.00 % — — Refinaria de Dados – Análise de Dados Ltda. (ii) Brazil Digital content services 100.00 % — — Hum Bilhão Educação Financeira Ltda. (ii) Brazil Digital content services 100.00 % — — Vaivoa Educação Financeira Ltda. (ii) Brazil Digital content services 100.00 % — — Modal As a Service S.A. (ii) Brazil Financial services 100.00 % — — Galapos Consultoria e Participações Ltda. (ii) Brazil Consulting services 100.00 % — — W2D Tecnologia e Soluções Ltda. (ii) Brazil Rendering of IT services 100.00 % — — XP Controle 5 Participações Ltda. Brazil Holding 100.00 % 96.00 % 92.00 % XP Sports Asset Management Ltda. (ii) Brazil Asset management 100.00 % — — Carteira Online Controle de Investimentos Ltda. – ME (v) Brazil Investment consolidation platform — 100.00 % 99.99 % Track Índices Consultoria Ltda. Brazil Index provider — — 100.00 % Habitat Capital Partners (v) Brazil Asset management — 99.99 % — Consolidated investments funds Aetos Energia Fundo de Investimento em Direitos Creditórios Brazil Investment fund 100.00 % — — Consignado Público XP Fundo de Investimento em Direitos Creditórios Brazil Investment fund 100.00 % — — Falx Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Gladius Fundo de Investimento Multimercado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Scorpio Debentures Incentivadas Fundo de Investimento Multimercado Crédito Privado Brazil Investment fund 100.00 % 100.00 % 100.00 % SMF Fundo de Investimento Multimercado Crédito Privado Brazil Investment fund 100.00 % — — Javelin Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % Frade Fundo de Investimento em Cotas de Fundos de Investimento em Direitos Creditórios NP Brazil Investment fund 100.00 % 100.00 % 100.00 % Frade III Fundo de Investimento em Cotas de Fundo de Investimento Multimercado Crédito Privado Brazil Investment fund 100.00 % 100.00 % 100.00 % Coliseu Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % NIMROD Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % XP High Yield Fund SP Cayman Investment fund 100.00 % 100.00 % 100.00 % XP International Fund SPC Cayman Investment fund 100.00 % 100.00 % 100.00 % XP Managers Fundo de Investimento em Participações Multiestratégia Brazil Investment fund 100.00 % 100.00 % 100.00 % XP Alesia Fund SP CL Shares - Brazil Internacional Fund SPC. Cayman Investment fund 100.00 % 100.00 % 100.00 % Newave Fundo de Investimento em Participações Multiestratégia (v) Brazil Investment fund — 100.00 % 100.00 % Endor Fundo de Investimento em Participações Multiestratégia Investimento no Exterior Brazil Investment fund 100.00 % 100.00 % 100.00 % XP Phalanx CT Fund Cayman Investment fund 100.00 % 100.00 % — MM Macadâmia FIM CP IE (ii) Brazil Investment fund 100.00 % — — MM Hedge Icon (ii) Nassau Investment fund 99.37 % — — Suécia I Fundo de Investimento Multimercado (ii) Brazil Investment fund 100.00 % — — Suécia II Fundo de Investimento Multimercado (ii) Brazil Investment fund 100.00 % — — (i) The percentage of participation represents the Group’s interest in total capital and voting capital of its subsidiaries. (ii) New subsidiaries acquired in 2023 and 2022. See further details in Note 5 (ii) Business combinations, below. (iii) Subsidiary incorporated in 2018 for operating in the retirement plans and life insurance business, which is regulated by the Superintendency of Private Insurance (SUSEP) in Brazil. (iv) New subsidiaries and investment funds incorporated in the year. (v) Subsidiaries and investment funds closed or consolidated by other funds/companies during the year. (vi) Subsidiaries which the Group holds or has held the operational control. The operational control refers to relevant rights the Company have over the subsidiary, that includes, among other topics, the right to nominate the directors and propose the target entity for merger.
Summary of fair value of the identifiable assets acquired and liabilities	Identified assets at the acquisition date Amount Method Expected useful life Retail client portfolio 169,828 Multi-Period Excess Earnings 6 years, 11 months Institutional client portfolio 51,629 Multi-Period Excess Earnings 4 years, 6 months Core deposits 134,273 With and Without 9 years, 6 months Trademarks 29,909 Relief-from-Royalty 5 years Softwares 4,311 Cost Approach 5 years Total 389,950 For the period from July 1, 2023 to December 31, 2023, Banco Modal contributed R$ 93,611 to XP Inc's net income and R$ 343,258 to XP Inc's net revenues. If the acquisition date was on the beginning of the reporting period, XP Inc's combined unaudited net income and revenue for the year ended December 31, 2023, would be R$ 3,595,461 and R$ 14,896,966, respectively. The table below shows the fair value of the net assets acquired and the preliminary allocation of the purchase price consideration (including goodwill arising on the acquisition), as well as the impacts on the Group's cash flows: Fair value of net assets acquired July 1, 2023 Assets Cash and cash equivalents 770,887 Financial assets 4,295,122 Investments in associates and joint ventures 765 Property and equipment 39,532 Intangible assets 67,663 Other assets 751,682 Total assets 5,925,651 Liabilities Financial liabilities 4,667,146 Other liabilities 783,675 Total liabilities 5,450,821 Net assets at fair value 474,829 Identified assets Client portfolios 221,457 Core deposits 134,273 Trademarks 29,909 Software 4,311 Total identified assets 864,779 Goodwill determination Purchase consideration transferred 2,097,326 (Less) fair value of identified assets (864,779) Goodwill 1,232,547 Analysis of cash flow on acquisition Net cash acquired with the subsidiary 770,887 Issuance of shares – XP Inc (non-cash) — Net of cash flow on acquisition (investing activities) 770,887
Summary of fair value of the identifiable assets acquired and liabilities1 [Table Text Block]	Habitat Assets Cash 275 Accounts receivable 4,977 Securities 240 Property and equipment 251 Other assets 1,063 6,806 Liabilities Tax and social security obligations (1,424) Other liabilities (66) Total identifiable net assets at fair value 5,316 Goodwill arising on acquisition 60,037 Purchase consideration transferred 65,353

Securities purchased (sold) u_2

Securities purchased (sold) under resale (repurchase) agreements (Tables)	12 Months Ended
	Dec. 31, 2023
Securities purchased sold under resale repurchase agreements [Abstract]
Summary of securities purchased under agreements to resell	Securities purchased under resale agreements 2023 2022 Collateral held 3,891,759 834,975 National Treasury Notes (NTNs) (i) 2,013,366 645,188 National Treasury Bills (LTNs) (i) 820,487 — Financial Treasury Bills (LFTs) (i) 799,417 — Debentures (ii) 89,234 84,065 Real Estate Receivable Certificates (CRIs) (ii) 80,565 82,633 Other 88,690 23,089 Collateral repledge 11,000,022 6,771,526 National Treasury Bills (LTNs) (i) 2,416,143 227,713 Financial Treasury Bills (LFTs) (i) 900,245 — National Treasury Notes (NTNs) (i) 116,583 2,842,159 Debentures (ii) 4,258,213 929,346 Real Estate Receivable Certificates (CRIs) (ii) 2,436,462 2,019,639 Agribusiness Receivables Certificates (CRAs) (ii) 459,896 101,091 Agribusiness Credit Bill (LCAs) (ii) — 171,730 Interbank Deposits Certificates (CDIs) (ii) 304,572 — Other 107,908 479,848 Expected Credit Loss (iii) (2,803) (2,681) Total 14,888,978 7,603,820 (i) Investments in purchase and sale commitments collateral-backed by sovereign debt securities refer to transactions involving the purchase of sovereign debt securities with a commitment to sale originated mainly in the subsidiaries XP CCTVM, Banco XP and in exclusive funds. (ii) Refers to corporate debt assets, which are low-risk investments collateral-backed. (iii) The reconciliation of gross carrying amount and the expected credit loss segregated by stages are presented in the Note 14.
Summary of securities sold under repurchase agreements	Securities sold under repurchase agreements 2023 2022 National Treasury Bills (LTNs) 3,274,568 8,569,145 National Treasury Notes (NTNs) 8,456,861 12,347,218 Financial Treasury Bills (LFTs) 1,867,365 533,509 Debentures 8,776,735 1,831,846 Real Estate Receivable Certificates (CRIs) 9,201,853 6,471,410 Financial credit bills (LFs) 954,447 1,111,890 Agribusiness Receivables Certificates (CRAs) 808,682 925,073 Total 33,340,511 31,790,091

Securities (Tables)

Securities (Tables)	12 Months Ended
Securities (Tables)	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of Securities classified at fair value through profit and loss [Table Text Block]	2023 2022 Gross carrying amount Fair value Group portfolio Retirement plan assets (i) Gross carrying amount Fair value Group portfolio Retirement plan assets (i) Financial assets At fair value through profit or loss Available portfolio 102,381,532 103,282,212 46,930,511 56,351,701 86,273,732 86,336,920 40,648,295 45,688,625 Brazilian onshore sovereign bonds 29,587,276 30,172,040 28,000,854 2,171,186 25,262,407 25,127,998 22,799,302 2,328,696 Investment funds 55,922,364 55,922,364 3,022,360 52,900,004 42,274,069 42,274,069 2,389,131 39,884,938 Stocks issued by public-held company 3,981,237 3,981,237 3,642,365 338,872 5,494,957 5,494,957 5,155,761 339,196 Debentures 4,642,827 4,575,326 4,133,285 442,041 5,013,524 4,990,882 2,768,843 2,222,039 Structured notes 90,876 113,816 113,816 — 243,790 285,560 285,560 — Bank deposit certificates (ii) 756,066 765,741 663,985 101,756 525,778 541,294 523,859 17,435 Agribusiness receivables certificates 1,132,479 1,200,254 1,183,214 17,040 1,998,287 1,984,686 1,964,977 19,709 Real estate receivable certificates 1,843,651 1,924,269 1,921,927 2,342 1,799,625 1,803,111 1,800,671 2,440 Financial credit bills 435,425 469,943 153,994 315,949 663,589 738,028 16,981 721,047 Real estate credit bill 29,126 29,157 29,157 — 2,299,236 2,302,124 2,302,124 — Agribusiness credit bills 101,796 103,541 103,541 — 254,300 256,129 256,129 — Commercial notes 803,256 892,569 886,149 6,420 64,568 65,837 10,517 55,320 Others (iv) 3,055,153 3,131,955 3,075,864 56,091 379,602 472,245 374,440 97,805 Investments held in trust accounts — — — — 1,176,084 1,176,084 1,176,084 — US government bonds (iii) — — — — 1,176,084 1,176,084 1,176,084 — Total 102,381,532 103,282,212 46,930,511 56,351,701 87,449,816 87,513,004 41,824,379 45,688,625 (i) Those financial products represent investment contracts that have the legal form of retirement plans, which do not transfer substantial insurance risk to the Group. Therefore, contributions received from participants are accounted for as liabilities and an asset of the participant in the linked Specially Constituted Investment Fund (“FIE”). Besides assets which are presented segregated above, as retirement plan assets, the Group has proprietary assets to guarantee the solvency of our insurance and pension plan operations, under the terms of CNSP Resolution No. 432/2021, presented as Group portfolio, within the investment funds line. As of December 31, 2023, those assets represent R$ 202,678 (December 31, 2022 - R$183,732). (ii) Bank deposit certificates include R$67,985 (December 31, 2022 – R$252,877) presented as cash equivalents in the statements of cash flows. (iii) Related to investments received through IPO transactions derived by XPAC Acquisition Corp. These funds are restricted for use and may only be used for purposes of completing an initial business combination or redemption of public shares as set forth in XPAC Acquisition Corp. trust agreement. See note 5(ii)(c)(i). (iv) Mainly related to bonds issued and traded overseas and other securities.
Summary of Securities Classified At Fair Value Through Profit And Loss And At Fair Value Through Other Comprehensive Income	2023 2022 Gross carrying amount Fair value Gross carrying amount Fair value Financial assets At fair value through other comprehensive income Brazilian onshore sovereign bonds 41,023,844 41,343,987 33,532,740 32,931,403 Brazilian offshore sovereign bonds — — 1,379,129 1,321,258 Foreign sovereign bonds 2,669,993 2,718,963 — — Corporate bonds — — 238,730 226,007 Total 43,693,837 44,062,950 35,150,599 34,478,668
Summary of Financial Assets At Amortized Cost Securities	c) Securities evaluated at amortized cost are presented in the following table: 2023 2022 Gross carrying amount Book value Gross carrying amount Book value Financial assets At amortized cost (i) Brazilian onshore sovereign bonds 3,773,404 3,772,534 5,835,971 5,834,628 Foreign sovereign bonds — — 1,743,688 1,742,311 Rural product note 616,083 615,576 507,131 506,927 Commercial notes 2,472,006 2,467,311 1,188,237 1,188,237 Total 6,861,493 6,855,421 9,275,027 9,272,103 (i) Includes expected credit loss in the amount of R$ 6,072 (December 31, 2022 – R$2,924). The reconciliation of gross carrying amount and the expected credit losses segregated by stages are presented in the Note 14.
Summary of Securities on the Financial Liabilities Classified at Fair Value through Profit or Loss	d) Securities on the financial liabilities classified at fair value through profit or loss are presented in the following table: 2023 2022 Gross carrying amount Fair value Gross carrying amount Fair value Financial liabilities At fair value through profit or loss Securities loaned 19,949,021 19,949,021 13,048,246 13,048,246 2023 2022 Gross carrying amount Fair value Gross carrying amount Fair value Financial liabilities At fair value through profit or loss Debentures 594,332 474,053 567,838 481,019
Summary of Fair Value and Remaining Contractual Principal Balance Outstanding	The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of December 31, 2023 for instruments for which the fair value option has been elected. 2023 Contractual principal outstanding Fair value Fair value/(under) contractual principal outstanding Long-term debt Debentures 594,332 474,053 (120,279)
Summary of Securities classified by maturity	Assets Liabilities 2023 2022 2023 2022 Financial assets At fair value through PL and at OCI Current 74,520,326 73,569,049 19,949,021 13,048,246 Non-stated maturity 47,996,237 49,001,359 19,949,021 13,048,246 Up to 3 months 18,207,233 18,739,708 — — From 4 to 12 months 8,316,856 5,827,982 — — Non-current 72,824,836 48,422,623 474,053 481,019 After one year 72,824,836 48,422,623 474,053 481,019 Evaluated at amortized cost Current 4,560,263 7,952,328 — — Up to 3 months 2,015,126 3,327,313 — — From 4 to 12 months 2,545,137 4,625,015 — — Non-current 2,295,158 1,319,775 — — After one year 2,295,158 1,319,775 — — Total 154,200,583 131,263,775 20,423,074 13,529,265

Derivative financial instrume_2

Derivative financial instruments (Tables)	12 Months Ended
Derivative financial instruments (Tables)	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of derivative financial instruments by maturity	2023 Notional Fair Value % Up to 3 months From 4 to 12 months Above 12 months Assets Options 3,053,641,595 15,982,949 85 6,240,115 6,455,786 3,287,048 Swap contracts 392,133,687 3,883,112 11 381,744 531,023 2,970,345 Forward contracts 125,343,466 2,889,964 3 2,508,142 250,756 131,066 Future contracts 8,005,705 977,441 1 833,172 104,758 39,511 Total 3,579,124,453 23,733,466 100 9,963,173 7,342,323 6,427,970 Liabilities Options 2,308,283,883 17,970,099 74 5,996,813 5,601,569 6,371,717 Swap contracts 403,391,373 3,448,067 13 56,590 842,922 2,548,555 Forward contracts 82,074,317 2,705,166 3 2,216,996 250,030 238,140 Future contracts 311,303,078 662,084 10 29,918 79,459 552,707 Total 3,105,052,651 24,785,416 100 8,300,317 6,773,980 9,711,119 2022 Notional Fair Value % Up to 3 months From 4 to 12 months Above 12 months Assets Options 1,253,758,408 5,542,340 94 1,209,290 1,931,618 2,401,432 Swap contracts 32,705,136 2,828,613 2 62,729 350,012 2,415,872 Forward contracts 16,058,162 549,953 1 352,796 132,119 65,038 Future contracts 34,679,065 296,249 3 73,621 222,628 — Total 1,337,200,771 9,217,155 100 1,698,436 2,636,377 4,882,342 Liabilities Options 852,098,826 7,086,946 84 1,387,988 1,781,457 3,917,501 Swap contracts 13,755,838 839,421 1 44,526 261,669 533,226 Forward contracts 13,548,954 511,167 1 150,119 224,932 136,116 Future contracts 140,039,765 161,574 14 53,421 72,349 35,804 Others (i) 84,184 6,301 — 6,301 — — Total 1,019,527,567 8,605,409 100 1,642,355 2,340,407 4,622,647 (i) Related to Public Warrants liabilities issued by XPAC Acquisition Corp.
Summary of derivative financial instruments by index	Derivatives financial instruments by index: 2023 2022 Notional Fair value Notional Fair value Swap Contracts Asset Position Interest 367,589,959 1,863,359 20,616,960 739,698 Foreign exchange 6,446,652 611,709 1,647,089 15,906 Share 17,870,871 1,363,195 10,302,018 2,054,430 Commodities 226,205 44,849 139,069 18,579 Liability Position Interest 403,391,373 (3,448,067) 13,106,906 (630,539) Foreign exchange — — 648,932 (208,882) Forward Contracts Asset Position Foreign exchange 100,765,753 341,835 15,516,883 213,311 Share — — 305,614 306,516 Interest 24,577,713 2,548,129 233,977 30,126 Commodities — — 1,688 — Liability Position Foreign exchange 60,387,358 (759,693) 13,548,954 (511,167) Interest 21,686,959 (1,945,473) — — Future Contracts Purchase commitments Foreign exchange 387,663 908 6,041,572 1,182 Interest 4,887,109 972,355 26,020,396 291,057 Share 3,520 — 180,720 — Commodities 2,727,413 4,178 2,436,377 4,010 Commitments to sell Interest 35,365,170 (560,676) 111,237,614 (111,009) Foreign exchange 43,572 (131) 25,134,918 (20,290) Share 274,874,389 (99,779) 3,006,462 (23,268) Commodities 1,019,947 (1,498) 660,771 (7,007) Options Purchase commitments Foreign exchange 14,346,184 520 237,680,984 1,352,521 Share 18,780,035 385,921 462,926,358 2,394,104 Interest 3,019,606,208 15,593,786 544,855,750 1,681,487 Commodities 909,168 2,722 8,295,316 114,228 Commitments to sell Foreign exchange 9,308,549 (123,346) 234,719,499 (1,504,068) Share 20,296,428 (4,026,023) 26,017,420 (4,245,924) Interest 2,278,678,906 (13,820,730) 590,924,462 (1,223,999) Commodities — — 437,445 (112,956) Others Liability Position Share — — 84,184 (6,301) Assets 23,733,466 9,217,155 Liabilities (24,785,416) (8,605,409) Net (1,051,950) 611,746

Hedge accounting (Tables)

Hedge accounting (Tables)	12 Months Ended
Hedge accounting (Tables)	Dec. 31, 2023
Disclosure of detailed information about hedged items [abstract]
Summary of detailed information about hedging instruments	The Group undertakes risk management through the economic relationship between hedge instruments and hedged items, in which it is expected that these instruments will move in opposite directions, in the same proportions, with the aim of neutralizing the risk factors. Hedged item Hedge instrument Book Value Variation in value recognized in Other comprehensive income Notional value Variation in the amounts used to calculate hedge ineffectiveness Assets Liabilities Strategies 2023 Foreign exchange risk Hedge of net investment in foreign operations 450,853 — (34,603) 446,442 41,235 Total 450,853 — (34,603) 446,442 41,235 2022 Foreign exchange risk Hedge of net investment in foreign operations 395,594 — (17,281) 414,043 18,480 Total 395,594 — (17,281) 414,043 18,480 2021 Foreign exchange risk Hedge of net investment in foreign operations 310,069 — 19,474 440,022 (18,758) Total 310,069 — 19,474 440,022 (18,758)
Effects of hedge accounting	The effects of hedge accounting on the financial position and performance of the Group are presented below: Hedged item Hedge instrument Book Value Variation in value recognized in income Notional value Variation in the amounts used to calculate hedge ineffectiveness Assets Liabilities Strategies 2023 Interest rate and foreign exchange risk Structured notes — 16,593,439 (816,142) 16,702,984 849,160 Issued bonds — 3,542,258 131,181 3,379,798 (189,189) Total — 20,135,697 (684,961) 20,082,782 659,971 Hedged item Hedge instrument Book Value Variation in value recognized in income Notional value Variation in the amounts used to calculate hedge ineffectiveness Assets Liabilities Strategies 2022 Interest rate and foreign exchange risk Structured notes — 10,648,559 726,798 10,663,672 (734,656) Issued bonds — 3,889,699 323,881 3,646,613 (362,994) Fixed income bonds 3,589,909 — (163,541) 3,577,084 165,164 Total 3,589,909 14,538,258 887,138 17,887,369 (932,486) The effects of hedge accounting on the financial position and performance of the Group are presented below: Hedged item Hedge instrument Book Value Variation in value recognized in Other comprehensive income Notional value Variation in the amounts used to calculate hedge ineffectiveness Assets Liabilities Strategies 2023 Market price risk Long term incentive plan taxes — 414,315 (59,517) 438,765 70,906 Total — 414,315 (59,517) 438,765 70,906 Hedged item Hedge instrument Book Value Variation in value recognized in Other comprehensive income Notional value Variation in the amounts used to calculate hedge ineffectiveness Assets Liabilities Strategies 2022 Market price risk Long term incentive plan taxes — 262,756 346,900 261,818 (348,248) Total — 262,756 346,900 261,818 (348,248) The table below presents, for each risk factor and hedging instruments categories, the nominal value and the adjustments to the fair value of the hedging instruments and the book value of the hedged object: 2023 Notional amount Book value Variation in fair value used to calculate hedge ineffectiveness Hedge ineffectiveness recognized in income Hedge Instruments Assets Liabilities Interest rate risk Futures 19,859,217 — 19,896,226 675,035 (19,807) Foreign exchange risk Futures 670,007 450,853 239,472 26,171 1,449 Market price risk Swaps 438,765 — 414,315 70,906 11,389 2022 Notional amount Book value (i) Variation in fair value used to calculate hedge ineffectiveness Hedge ineffectiveness recognized in income Hedge Instruments Assets Liabilities Interest rate risk Futures 17,604,185 3,589,909 14,218,543 (890,103) (41,295) Foreign exchange risk Futures 697,227 395,594 319,715 (23,903) (2,825) Market price risk Swaps 261,818 — 262,756 (348,248) (1,348) The table below presents, for each strategy, the notional amount and the fair value adjustments of hedging instruments and the book value of the hedged item: December 31, 2023 December 31, 2022 December 31, 2021 Hedge instruments Hedge item Hedge instruments Hedge item Hedge instruments Hedge item Strategies Notional amount Fair value adjustments Book value Notional amount Fair value adjustments Book value Notional amount Fair value adjustments Book value Hedge of fair value 20,082,782 659,971 (684,961) 17,887,369 (932,486) 887,138 9,297,999 (495,191) 506,190 Hedge of net investment in foreign operations 446,442 41,235 (34,603) 414,043 18,480 (17,252) 440,022 (18,758) 19,474 Hedge of cash flow 438,765 70,906 (59,517) 261,818 (348,248) 346,900 — — — Total 20,967,989 772,112 (779,081) 18,563,230 (1,262,254) 1,216,786 9,738,021 (513,949) 525,664
Information about how designated risk component relates to hedged item in its entirety [text block]	The table below shows the breakdown notional value by maturity of the hedging strategies: 2023 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of fair value 696,906 1,653,677 6,001,602 6,920,470 2,888,836 1,921,291 20,082,782 Hedge of net investment in foreign operations 400,918 45,524 — — — — 446,442 Hedge of cash flow 438,765 — — — — — 438,765 Total 1,536,589 1,699,201 6,001,602 6,920,470 2,888,836 1,921,291 20,967,989 2022 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of fair value 229,368 707,421 2,773,333 5,913,477 5,930,291 2,333,479 17,887,369 Hedge of net investment in foreign operations 381,958 — 32,085 — — — 414,043 Hedge of cash flow 261,818 — — — — — 261,818 Total 873,144 707,421 2,805,418 5,913,477 5,930,291 2,333,479 18,563,230 2021 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Total Hedge of fair value 136,636 276,219 478,745 972,199 4,510,125 2,924,075 9,297,999 Hedge of net investment in foreign operations 384,217 — — 55,805 — — 440,022 Total 520,853 276,219 478,745 1,028,004 4,510,125 2,924,075 9,738,021

Loan operations (Tables)

Loan operations (Tables)	12 Months Ended
Loan operations (Tables)	Dec. 31, 2023
Disclosure of financial assets [abstract]
Loan operations by class, sector of debtor, maturity and concentration	Following are the breakdown of the carrying amount of loan operations by class, sector of debtor, maturity and concentration: Loans by type 2023 2022 Pledged asset loan 24,845,243 20,198,764 Retail 12,366,330 10,932,086 Companies 7,054,507 5,311,675 Credit card 5,424,406 3,955,003 Non-pledged loan 4,036,646 2,061,774 Retail 764,712 309,468 Companies 959,898 546,678 Credit card 2,312,036 1,205,628 Total loans operations 28,881,889 22,260,538 Expected Credit Loss (Note 14) (329,954) (49,377) Total loans operations, net of Expected Loss 28,551,935 22,211,161 By maturity 2023 2022 Overdue by 1 day or more 329,707 — Due in 3 months or less 6,739,145 2,496,982 Due after 3 months through 12 months 5,056,321 7,211,321 Due after 12 months 16,756,716 12,552,235 Total Loans operations 28,881,889 22,260,538 By concentration 2023 2022 Largest debtor 855,607 814,284 10 largest debtors 2,921,734 2,458,714 20 largest debtors 4,058,250 3,241,494 50 largest debtors 5,579,073 4,484,877 100 largest debtors 6,949,906 5,615,708

Accounts receivable (Tables)

Accounts receivable (Tables)	12 Months Ended
Accounts receivable (Tables)	Dec. 31, 2023
Trade and other receivables [abstract]
Summary of accounts receivable	2023 2022 Customers (a) 579,498 522,117 Dividends and interest receivable on equity capital - Funds 31,779 82,545 Other (b) 133,820 28,011 (-) Expected credit losses on accounts receivable (Note 14(b)) (63,907) (34,786) Total 681,190 597,887 (a) Refers to receivables from management fees arising from the distribution of funds and amounts receivable related to service provision, which have an average term of 30 days. There is no concentration on the balances receivable as of December 31, 2023 and 2022. (b) Mainly related to accounts receivable from B3.

Recoverable taxes (Tables)

Recoverable taxes (Tables)	12 Months Ended
Recoverable taxes (Tables)	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of recoverable taxes	2023 2022 Prepayments of income taxes (IRPJ and CSLL) 192,570 142,708 Contributions over revenue (PIS and COFINS) 45,688 19,453 Taxes on services (ISS) 1,859 1,087 Others 5,097 — Total 245,214 163,248 Current 245,214 163,248 Non-current — —

Prepaid expenses (Tables)

Prepaid expenses (Tables)	12 Months Ended
Prepaid expenses (Tables)	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of prepaid expenses	2023 2022 Commissions and premiums paid in advance (a)(b) 4,081,456 3,863,986 Marketing expenses 10,687 16,893 Services paid in advance 42,331 48,775 Other expenses paid in advance 283,789 310,453 Total 4,418,263 4,240,107 Current 826,107 789,609 Non-current 3,592,156 3,450,498 (a) Mostly comprised by long term investment programs implemented by XP CCTVM through its network of IFAs. These commissions and premiums paid are recognized at the signing date of each contract and are amortized in the Group’s income statement, linearly, according to the investment term period. (b) Include balances with related parties, in connection with the transactions disclosed on Note 5(ii)(c)(ii).

Expected credit losses on fin_2

Expected credit losses on financial assets and reconciliation of carrying amount (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of fair value measurement of assets [abstract]
Expected Credit Losses on Financial Assets and Reconciliation of carrying amount	It is presented below the reconciliation of gross carrying amount of financial assets through other comprehensive income and financial assets measured at amortized cost – that have their ECLs (Expected Credit Losses) measured using the three-stage model and the low credit risk simplification. Stage 1 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 2 Transfer to stage 3 Transfer from stage 2 Transfer from stage 3 Write-Off Closing balance December 31, 2023 Financial assets at fair value through other comprehensive income Securities 35,150,599 8,543,238 — — — — 43,693,837 Financial assets amortized cost Securities 9,275,027 (2,413,534) — — — — 6,861,493 Securities purchased under agreements to resell 7,606,501 7,285,280 — — — — 14,891,781 Loans and credit card operations 21,168,048 5,678,561 1,082,998 (1,800,466) (193,066) 518,241 27 (6,975) 26,447,368 Total on-balance exposures 73,200,175 19,093,545 1,082,998 (1,800,466) (193,066) 518,241 27 (6,975) 91,894,479 Off-balance exposures (credit card limits) 4,759,298 3,670,075 201,949 (495,087) (5,526) 193,171 17 — 8,323,897 Total exposures 77,959,473 22,763,620 1,284,947 (2,295,553) (198,592) 711,412 44 (6,975) 100,218,376 Stage 2 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 Write-Off Closing balance December 31, 2023 Financial assets amortized cost Loans and credit card operations 1,073,170 (111,875) 2,734 (518,241) (33,238) 1,800,466 117 (10,202) 2,202,931 Total on-balance exposures 1,073,170 (111,875) 2,734 (518,241) (33,238) 1,800,466 117 (10,202) 2,202,931 Off-balance exposures (credit card limits) 255,539 25,490 308 (193,171) (8) 495,087 25 — 583,270 Total exposures 1,328,709 (86,385) 3,042 (711,412) (33,246) 2,295,553 142 (10,202) 2,786,201 Stage 3 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 1 Transfer to stage 2 Transfer from stage 1 Transfer from stage 2 Write-Off Closing balance December 31, 2023 Financial assets amortized cost Loans and credit card operations 19,319 (11,003) 18,004 (27) (117) 193,066 33,238 (20,890) 231,590 Total on-balance exposures 19,319 (11,003) 18,004 (27) (117) 193,066 33,238 (20,890) 231,590 Off-balance exposures (credit card limits) — (31) 79 (17) (25) 5,526 8 — 5,540 Total exposures 19,319 (11,034) 18,083 (44) (142) 198,592 33,246 (20,890) 237,130 Consolidated Stages Balance at December 31, 2022 Purchases / (Settlements) Business Combination Write-Off Closing balance December 31, 2023 Financial assets at fair value through other comprehensive income Securities 35,150,599 8,543,238 — — 43,693,837 Financial assets amortized cost Securities 9,275,027 (2,413,534) — — 6,861,493 Securities purchased under agreements to resell 7,606,501 7,285,280 — — 14,891,781 Loans and credit card operations 22,260,537 5,555,684 1,103,736 (38,068) 28,881,889 Total on-balance exposures 74,292,664 18,970,668 1,103,736 (38,068) 94,329,000 Off-balance exposures (credit card limits) 5,014,837 3,695,534 202,336 — 8,912,707 Total exposures 79,307,501 22,666,202 1,306,072 (38,068) 103,241,707 Stage 1 Balance at December 31, 2021 Acquisition / (Settlements) Transfer to stage 2 Transfer to stage 3 Transfer from stage 2 Transfer from stage 3 Closing balance December 31, 2022 Financial assets at fair value through other comprehensive income Securities 32,339,904 2,810,695 — — — — 35,150,599 Financial assets amortized cost Securities 2,241,304 7,033,723 — — — — 9,275,027 Securities purchased under agreements to resell 8,897,100 (1,290,599) — — — — 7,606,501 Loans and credit card operations 12,153,549 9,522,224 (945,055) (12,373) 449,698 5 21,168,048 Total on-balance exposures 55,631,857 18,076,043 (945,055) (12,373) 449,698 5 73,200,175 Off-balance exposures (credit card limits) 1,307,986 3,639,893 (241,705) — 53,124 — 4,759,298 Total exposures 56,939,843 21,715,936 (1,186,760) (12,373) 502,822 5 77,959,473 Stage 2 Balance at December 31, 2021 Acquisition / (Settlements) Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 Closing balance December 31, 2022 Financial assets amortized cost Loans and credit card operations 686,994 (102,544) (449,698) (6,642) 945,055 5 1,073,170 Total on-balance exposures 686,994 (102,544) (449,698) (6,642) 945,055 5 1,073,170 Off-balance exposures (credit card limits) 59,408 7,548 (53,125) — 241,705 3 255,539 Total exposures 746,402 (94,996) (502,823) (6,642) 1,186,760 8 1,328,709 Stage 3 Balance at December 31, 2021 Acquisition / (Settlements) Transfer to stage 1 Transfer to stage 2 Transfer from stage 1 Transfer from stage 2 Closing balance December 31, 2022 Financial assets amortized cost Loans and credit card operations 3,494 (3,180) (5) (5) 12,373 6,642 19,319 Total on-balance exposures 3,494 (3,180) (5) (5) 12,373 6,642 19,319 Off-balance exposures (credit card limits) 5 (2) — (3) — — — Total exposures 3,499 (3,182) (5) (8) 12,373 6,642 19,319 Consolidated Stages Balance at December 31, 2021 Purchases / (Settlements) Closing balance December 31, 2022 Financial assets at fair value through other comprehensive income Securities 32,339,904 2,810,695 35,150,599 Financial assets amortized cost Securities 2,241,304 7,033,723 9,275,027 Securities purchased under agreements to resell 8,897,100 (1,290,599) 7,606,501 Loans and credit card operations 12,844,037 9,416,500 22,260,537 Total on-balance exposures 56,322,345 17,970,319 74,292,664 Off-balance exposures (credit card limits) 1,367,399 3,647,438 5,014,837 Total exposures 57,689,744 21,617,757 79,307,501 The following table presents the gross carrying amount of financial assets measured at amortized cost, which that have their ECLs measured using the simplified approach: Operations 2023 2022 Financial assets amortized cost Securities trading and intermediation 3,047,011 3,376,179 Accounts Receivable 745,097 632,673 Other financial assets (i) 4,263,947 3,568,298 Total 8,056,055 7,577,150 (i) During the year ended December 31, 2023, there was R$ 1,101 of other financial assets write-off. b) Expected credit loss The table below presents the changes in ECLs, measured according to the three stage model, for assets classified as Financial assets through other comprehensive income and Financial assets measured at amortized cost in the period ended December 31, 2023 and December 31, 2022, segregated by stages: Stage 1 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 2 Transfer to stage 3 Transfer from stage 2 Transfer from stage 3 Write-Off Closing balance December 31, 2023 Financial assets at fair value through other comprehensive income Securities 8,077 4,122 — — — — — — 12,199 Financial assets amortized cost Securities 2,924 3,148 — — — — — — 6,072 Securities purchased under agreements to resell 2,681 122 — — — — — — 2,803 Loans and credit card operations 21,312 223,234 27,499 (63,095) (148,305) 1,173 1 (6,975) 54,844 Total on-balance exposures 34,994 230,626 27,499 (63,095) (148,305) 1,173 1 (6,975) 75,918 Off-balance exposures (credit card limits) 4,800 8,064 4,303 (5,427) (3,765) 187 — — 8,162 Other off-balance exposures 15,214 — — — (15,214) — — — — Total exposures 55,008 238,690 31,802 (68,522) (167,284) 1,360 1 (6,975) 84,080 Stage 2 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 Write-Off Closing balance December 31, 2023 Financial assets amortized cost Loans and credit card operations 7,656 43,159 807 (1,173) (28,663) 63,095 17 (10,202) 74,696 Total on-balance exposures 7,656 43,159 807 (1,173) (28,663) 63,095 17 (10,202) 74,696 Off-balance exposures (credit card limits) 1,428 (467) 3 (187) (1) 5,427 — — 6,203 Total exposures 9,084 42,692 810 (1,360) (28,664) 68,522 17 (10,202) 80,899 Stage 3 Balance at December 31, 2022 Acquisition / (Settlements) Business Combination Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 Write-Off Closing balance December 31, 2023 Financial assets amortized cost Loans and credit card operations 14,181 (3,226) 15,268 (1) (17) 148,304 28,663 (20,891) 182,281 Total on-balance exposures 14,181 (3,226) 15,268 (1) (17) 148,304 28,663 (20,891) 182,281 Off-balance exposures (credit card limits) — (18) 18 — — 3,766 1 — 3,767 Other off-balance exposures — 38,891 — — — 15,214 — (54,105) — Total exposures 14,181 35,647 15,286 (1) (17) 167,284 28,664 (74,996) 186,048 Consolidated Stages Balance at December 31, 2022 Increase / (Reversal) Business Combination Write-Off Closing balance December 31, 2023 Financial assets at fair value through other comprehensive income Securities 8,077 4,122 — — 12,199 Financial assets amortized cost Securities 2,924 3,148 — — 6,072 Securities purchased under agreements to resell 2,681 122 — — 2,803 Loans and credit card operations 43,149 263,168 43,573 (38,068) 311,822 Total on-balance exposures 56,831 270,560 43,573 (38,068) 332,896 Off-balance exposures (credit card limits) 6,228 7,579 4,325 — 18,132 Other off-balance exposures 15,214 38,890 — (54,104) — Total exposures 78,273 317,029 47,898 (92,172) 351,028 Stage 1 ECL at December 31, 2021 Increase / (Reversal) Transfer to stage 2 Transfer to stage 3 Transfer from stage 2 Transfer from stage 3 ECL at December 31, 2022 Financial assets at fair value through other comprehensive income Securities 7,527 550 — — — — 8,077 Financial assets amortized cost Securities 2,497 427 — — — — 2,924 Securities purchased under agreements to resell 2,569 112 — — — — 2,681 Loans and credit card operations 13,957 21,827 (6,940) (8,624) 1,092 — 21,312 Total on-balance exposures 26,550 22,916 (6,940) (8,624) 1,092 — 34,994 Off-balance exposures (credit card limits) 726 5,413 (1,394) — 55 — 4,800 Other off-balance exposures — 15,214 — — — — 15,214 Total exposures 27,276 43,543 (8,334) (8,624) 1,147 — 55,008 Stage 2 ECL at December 31, 2021 Increase / (Reversal) Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 ECL at December 31, 2022 Financial assets amortized cost Loans and credit card operations 7,242 (127) (1,091) (5,308) 6,940 — 7,656 Total on-balance exposures 7,242 (127) (1,091) (5,308) 6,940 — 7,656 Off-balance exposures (credit card limits) 288 (198) (56) — 1,394 — 1,428 Total exposures 7,530 (325) (1,147) (5,308) 8,334 — 9,084 Stage 3 ECL at December 31, 2021 Increase / (Reversal) Transfer to stage 1 Transfer to stage 3 Transfer from stage 1 Transfer from stage 3 ECL at December 31, 2022 Financial assets amortized cost Loans and credit card operations 2,197 (1,948) — — 8,624 5,308 14,181 Total on-balance exposures 2,197 (1,948) — — 8,624 5,308 14,181 Total exposures 2,197 (1,948) — — 8,624 5,308 14,181 Consolidated Stages ECL at December 31, 2021 Increase / (Reversal) ECL at December 31, 2022 Financial assets at fair value through other comprehensive income Securities 7,527 550 8,077 Financial assets amortized cost Securities 2,497 427 2,924 Securities purchased under agreements to resell 2,569 112 2,681 Loans and credit card operations 23,396 19,753 43,149 Total on-balance exposures 35,989 20,842 56,831 Off-balance exposures (credit card limits) 1,014 5,214 6,228 Other off-balance exposures — 15,214 15,214 Total exposures 37,003 41,270 78,273 The table below presents the ECLs for the financial assets measured according to simplified approach in the period ended December 31, 2023 and December 31, 2022: Expected Credit Losses 2023 2022 Financial assets amortized cost Securities trading and intermediation 114,692 105,179 Accounts Receivable 63,907 34,786 Other financial assets 55,204 51,109 Total 233,803 191,074 c) Expected credit losses segregated by products The table below presents the expected credit losses for 2023 and 2022, segregated by products: Expected Credit Losses 2023 2022 Financial assets at fair value through other comprehensive income 12,199 8,077 Securities 12,199 8,077 Financial assets amortized cost 554,501 239,828 Securities 6,072 2,924 Securities purchased under agreements to resell 2,803 2,681 Loans and credit card operations 311,823 43,149 Securities trading and intermediation 114,692 105,179 Accounts Receivable 63,907 34,786 Other financial assets 55,204 51,109 Total losses for exposures 566,700 247,905 Off-balance exposures (credit card limits) 18,131 6,228 Other off-balance exposures — 15,214 Total exposures 584,831 269,347

Investments in associates and_2

Investments in associates and joint ventures (Tables)	12 Months Ended
Investments in associates and joint ventures (Tables)	Dec. 31, 2023
Disclosure of associates [abstract]
Investments in associates and joint ventures	Set out below the associates and joint ventures of the Group as of December 31, 2023 and 2022. Entity 2022 Equity (iv) Equity in earnings Other comprehensive income Goodwill (i) 2023 Equity-accounted method Associates (ii.a) 748,306 288,333 73,507 10,139 537,671 1,657,956 Measured at fair value Associates (iii) 1,523,425 (20,318) (52,403) — — 1,450,704 Total 2,271,731 268,015 21,104 10,139 537,671 3,108,660 Entity 2021 Equity Equity in earnings Other comprehensive income Goodwill (i) 2022 Equity-accounted method Associates (ii.a) 790,744 (24,257) (10,930) (7,251) — 748,306 Joint ventures (ii.b) 1,197 69 (1,235) (31) — — Measured at fair value Associates (iii) 1,221,424 356,302 (54,301) — — 1,523,425 Total 2,013,365 332,114 (66,466) (7,282) — 2,271,731 (i) Refers to acquisitions of associates and joint ventures. The goodwill recognized includes the amount of expected synergies arising from the investments and includes an element of contingent consideration. (ii) As of December 31, 2022 and December 31, 2021, includes the interests in the total and voting capital of the following companies: (a) Associates - Wealth High Governance Holding de Participações S.A. (49.9% of the total and voting capital on December 31 2023, and 2022); Primo Rico Mídia, Educacional e Participações Ltda. (21.83% of the total and voting capital on December 31, 2023 and 29.26% on December 31, 2022); Novus Capital Gestora de Recursos Ltda. (27.5% of the total and voting capital on December 31, 2023); NK112 Empreendimentos e Participações S.A. (49.9% of the total and voting capital on December 31, 2023 and 2022)); Ctrl+e Participações Ltda. (“Ável”) (35% of the total and voting capital on December 31, 2023); Monte Bravo Holding JV S.A. (45% of the total and voting capital on December 31, 2023); and Blue3 S.A. (42% of the total and voting capital on December 31, 2023);(b) Joint ventures - the Group’s stake in DuAgro was sold to the market during the last quarter of 2022. (iii) As mentioned in Note 2 (iii)(c), the Group values the investments held through some proprietary investment funds at fair value. The fair value of investments is presented in the statement of income as ‘Net income/(loss) from financial instruments at fair value through profit or loss’. Contingent consideration amounts related to the investments at fair value held through proprietary investment funds are presented in Note 20. (iv) On December 31, 2023, includes total or partial disposal of investments in Grimper Capital, BlueMacaw and OHM Research and the minority stake acquisitions in Monte Bravo, Blue3 and Ável (Note 5(ii)(c)(ii)).

Property, equipment, intangib_2

Property, equipment, intangible assets and leases (Tables)	12 Months Ended
Property, equipment, intangible assets and leases (Tables)	Dec. 31, 2023
Disclosure of detailed information about property, plant and equipment [abstract]
Summary of property and equipment	(a) Property and equipment Data processing system Furniture and equipment Security systems Facilities Fixed assets in progress Other Total Balance as of January 1, 2021 33,882 22,616 1,003 44,921 101,610 — 204,032 Additions 37,469 93 229 4 63,250 34,399 135,444 Write-offs (298) (728) (170) (375) (729) — (2,300) Transfers 5 (15) 15 — — — 5 Foreign exchange (31) 245 (327) 3 — — (110) Depreciation in the year (13,096) (3,990) (60) (5,353) (35) (573) (23,107) Balance as of December 31, 2021 57,931 18,221 690 39,200 164,096 33,826 313,964 Cost 89,376 31,813 1,584 54,535 164,096 34,399 375,803 Accumulated depreciation (31,445) (13,592) (894) (15,335) — (573) (61,839) Balance as of January 1, 2022 57,931 18,221 690 39,200 164,096 33,826 313,964 Additions 10,775 152 1,542 245 31,849 — 44,563 Write-offs — — — — (1,179) — (1,179) Transfers 101 41 — 104 (15,264) — (15,018) Foreign exchange 21 (58) — (407) — — (444) Depreciation in the year (18,774) (3,649) (93) (5,019) (17) (3,440) (30,992) Balance as of December 31, 2022 50,054 14,707 2,139 34,123 179,485 30,386 310,894 Cost 101,101 31,291 2,557 54,553 179,485 34,399 403,386 Accumulated depreciation (51,047) (16,584) (418) (20,430) — (4,013) (92,492) Balance as of January 1, 2023 50,054 14,707 2,139 34,123 179,485 30,386 310,894 Additions 9,124 11,328 728 338 44,486 — 66,004 Business combination (Note 5(ii)) 35,945 1,881 94 797 816 — 39,533 Write-offs (1,059) (158) (8) (52) — — (1,277) Transfers — 1,501 624 18,041 (20,166) — — Foreign exchange 779 16 1 60 — — 856 Depreciation in the year (26,923) (4,740) (260) (7,285) — (3,440) (42,648) Balance as of December 31, 2023 67,920 24,535 3,318 46,022 204,621 26,946 373,362 Cost 178,361 46,815 4,490 90,191 204,621 34,399 558,877 Accumulated depreciation (110,441) (22,280) (1,172) (44,169) — (7,453) (185,515)
Summary of intangible assets	(b) Intangible assets Software Goodwill Customer list Trademarks Other intangible assets Total Balance as of January 1, 2021 115,153 474,366 58,285 10,748 55,010 713,562 Additions 146,761 — 40,000 — 30,808 217,569 Business combination 1,734 68,379 — 485 — 70,598 Write-offs (13,536) — — (1,000) (2,675) (17,211) Transfers 51,994 — — 485 (52,484) (5) Foreign exchange (971) — — 341 204 (426) Amortization in the year (148,803) — (5,796) (8,492) (21) (163,112) Balance as of December 31, 2021 152,332 542,745 92,489 2,567 30,842 820,975 Cost 303,724 542,745 116,050 88,877 30,918 1,082,314 Accumulated amortization (151,392) — (23,561) (86,310) (76) (261,339) Balance as of January 1, 2022 152,332 542,745 92,489 2,567 30,842 820,975 Additions 13,655 — 13,000 — 55,757 82,412 Business combination (Note 5(ii)) — 60,037 — — — 60,037 Write-offs (7,337) (156) (12,133) — — (19,626) Transfers 10,125 (7,404) (21,189) 18,468 — — Foreign exchange (3,986) — — — (1) (3,987) Amortization in the year (76,450) — (10,663) (8,495) (21) (95,629) Balance as of December 31, 2022 88,339 595,222 61,504 12,540 86,577 844,182 Cost 276,195 595,222 141,252 25,000 86,674 1,124,343 Accumulated amortization (187,856) — (79,748) (12,460) (97) (280,161) Balance as of January 1, 2023 88,339 595,222 61,504 12,540 86,577 844,182 Additions 22,387 — 58,692 — 49,140 130,219 Business combination (Note 5(ii)) 46,916 1,257,605 355,730 29,909 — 1,690,160 Write-offs (4,945) (19,420) — (3,113) (2,722) (30,200) Transfers 77,964 — (7,876) 7,090 (77,178) — Foreign exchange — — — — 1,494 1,494 Amortization in the year (71,680) — (35,076) (11,468) (15,586) (133,810) Balance as of December 31, 2023 158,981 1,833,407 432,974 34,958 41,725 2,502,045 Cost 302,560 1,833,407 555,674 51,110 41,725 2,784,476 Accumulated amortization (143,579) — (122,700) (16,152) — (282,431)
Disclosure of quantitative information about right-of-use assets [text block]	d) Leases Set out below are the carrying amounts of the Group’s right-of-use assets and lease liabilities and the movements during the period: Right-of-use assets Lease liabilities As of January 1, 2022 284,509 318,555 Additions (i) 49,764 49,853 Depreciation expense (79,256) — Interest expense — 22,794 Revaluation 8,929 (89) Effects of exchange rate (5,455) (5,820) Payment of lease liabilities — (99,655) As of December 31, 2022 258,491 285,638 Current — 69,722 Non-current 258,491 215,916 As of January 1, 2023 258,491 285,638 Additions (i) 90,851 116,774 Business combination (Note 5(ii)) 17,493 19,802 Depreciation expense (75,955) — Write-offs (114) (675) Interest expense (3,864) 22,927 Revaluation 1,187 — Effects of exchange rate (6,285) (6,967) Payment of lease liabilities — (132,737) As of December 31, 2023 281,804 304,762 Current — 123,978 Non-current 281,804 180,784 (i) Additions to right-of-use assets in the period include prepayments to lessors and accrued liabilities.

Financing instruments payable (

Financing instruments payable (Tables)	12 Months Ended
Financing instruments payable (Tables)	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Schedule of financing instruments payable	2023 2022 Market funding operations (a) 54,831,509 38,093,772 Deposits 27,493,655 20,261,532 Demands deposits 1,812,469 803,031 Time deposits 25,230,996 19,445,276 Interbank deposits 450,190 13,225 Financial bills 9,019,789 5,675,596 Structured notes 18,015,165 12,109,576 Others 302,900 47,068 Debt securities (b) 5,534,081 5,589,857 Debentures 2,212,441 2,028,681 Bond 3,321,640 3,561,176 Total 60,365,590 43,683,629 Current 22,946,160 19,794,572 Non-Current 37,419,430 23,889,057
Maturity schedule	Market funding operations maturity Maturity - 2023 Class Within 30 days From From From From After 360 days Total Demand deposits 1,812,469 — — — — — 1,812,469 Time deposits 1,944,623 2,823,731 5,370,064 2,522,206 2,878,827 9,691,545 25,230,996 Interbank deposits — — — 1,006 276,113 173,071 450,190 Financial bills 30,954 43,635 94,499 680,490 2,103,902 6,066,309 9,019,789 Structured notes 23,345 32,730 1,756 69,879 712,046 17,175,409 18,015,165 Others 1,119 17,116 — 46,688 235,513 2,464 302,900 Total 3,812,510 2,917,212 5,466,319 3,320,269 6,206,401 33,108,798 54,831,509 Maturity - 2022 Class Within 30 days From From From From After 360 days Total Demand deposits 803,031 — — — — — 803,031 Time deposits 3,604,494 4,273,475 5,187,106 1,382,514 2,016,732 2,980,955 19,445,276 Interbank deposits — — — 3,092 — 10,133 13,225 Financial bills — — 2,390 1,637,547 405,901 3,629,758 5,675,596 Structured notes — — 5,720 35,773 261,019 11,807,064 12,109,576 Others — — 1,031 13,053 32,984 — 47,068 Total 4,407,525 4,273,475 5,196,247 3,071,979 2,716,636 18,427,910 38,093,772
Disclosure of debt instruments [text block]	The total balance is comprised of the following issuances: 2023 2022 Up to 1 year 1-5 years Total Up to 1 year 1-5 years Total Bonds (i) Fixed rate 118,402 3,203,238 3,321,640 128,710 3,432,466 3,561,176 Debentures (ii) (iii) Floating rate 1,105,047 1,107,394 2,212,441 106,118 1,922,563 2,028,681 Total 1,223,449 4,310,632 5,534,081 234,828 5,355,029 5,589,857 Current 1,223,449 234,828 Non- Current 4,310,632 5,355,029

Securities trading and interm_2

Securities trading and intermediation (Tables)	12 Months Ended
Securities trading and intermediation (Tables)	Dec. 31, 2023
Summary of Securities, Trading and Intermediation Assets and Liabilities [Abstract]
Summary of securities trading and intermediation assets and liabilities	Represented by operations at B3 on behalf of and on account of third parties, with liquidation operating cycle between D+1 and D+3. 2023 2022 Cash and settlement records 1,277,579 1,394,451 Debtors pending settlement 1,768,735 1,980,341 Other 697 1,387 (-) Expected losses on Securities trading and intermediation (a) (114,692) (105,179) Total Assets 2,932,319 3,271,000 Cash and settlement records 166,625 171,659 Creditors pending settlement 1,957,045 2,401,828 Customer's cash on investment account 14,819,869 13,489,210 Total Liabilities 16,943,539 16,062,697 (a) The reconciliation of gross carrying amount and the expected loss, segregated by stage, according to IFRS 9 are included in Note 14.

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
Borrowings (Tables)	Dec. 31, 2023
Disclosure of detailed information about borrowings [abstract]
Summary of borrowings	Annual Interest rate % Maturity December 31, 2023 December 31, 2022 Banco Nacional de México (i) 2.55% May 2023 — 1,586,052 International Finance Corporation (IFC) (ii) CDI () + 0.74% April 2023 — 279,828 Banco Nacional de México Term SOFR() + 0.40% August 2024 2,198,619 — Banco Daycoval 15.66% September 2024 803 — Total borrowings 2,199,422 1,865,880 Current 2,199,422 1,865,880 Non-current — — () Brazilian Interbank Offering Rate (CDI). (**) Secured Overnight Financing Rate (SOFR). (i) On May 5, 2023, according to the maturity date, the loan agreement was fully settled. (ii) On April 17, 2023, according to the maturity date, the loan agreement was fully settled.

Other financial assets and fi_2

Other financial assets and financial liabilities (Tables)	12 Months Ended
Other financial assets and financial liabilities (Tables)	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of other financial assets	Other financial assets 2023 2022 Foreign exchange portfolio 1,022,083 2,145,174 Receivables from IFAs 165,640 172,884 Compulsory and other deposits at Central Bank 2,956,896 1,119,169 Other financial assets 119,328 131,071 (-) Expected losses on other financial assets (i) (55,204) (51,109) Total 4,208,743 3,517,189 Current 3,471,827 2,791,244 Non-current 736,916 725,945 (i) The reconciliation of gross carrying amount and the expected loss, according to IFRS 9, are presented in Note 14.
Summary of other financial liabilities	Other financial liabilities 2023 2022 Foreign exchange portfolio 1,361,882 2,405,429 Structured financing (i) 1,841,790 1,933,522 Credit cards operations 7,234,116 4,987,390 Contingent consideration (ii) 571,723 566,930 Commitments subject to possible redemption (iii) — 1,049,130 Lease liabilities 304,762 285,638 Others 917,103 326,174 Total 12,231,376 11,554,213 Current 11,974,989 11,014,262 Non-current 256,387 539,951 (i) Financing for maintenance of financial assets required to perform financial transactions. (ii) Contractual contingent considerations mostly associated with the investment acquisition. The maturity of the total contingent consideration payment is up to 5 years and the contractual maximum amount payable is R$833,000 (the minimum amount is zero). (iii)

Social and statutory obligati_2

Social and statutory obligations (Tables)	12 Months Ended
Social and statutory obligations (Tables)	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Schedule of social and statutory obligations	2023 2022 Obligations to non-controlling interest 75,196 40,646 Employee profit-sharing (a) 910,739 794,761 Salaries and other benefits payable 160,192 132,712 Total 1,146,127 968,119 (a) The Group has a bonus scheme for its employees based on a profit-sharing program as agreed under collective bargaining with the syndicate, which does not extend to the Board of Directors. The bonus is calculated at each half of the year and payments are made in February and August.

Tax and social security oblig_2

Tax and social security obligations (Tables)	12 Months Ended
Tax and social security obligations (Tables)	Dec. 31, 2023
Tax and Social Security Obligations [Abstract]
Summary of tax and social security obligations	2023 2022 Income Tax (IRPJ and CSLL) (i) 225,677 143,133 Taxes on long term incentive plan (ii) 192,776 120,194 Contributions over revenue (PIS and COFINS) 63,819 11,475 Taxes on services (ISS) 23,096 20,042 Contributions for Social Security (INSS) 27,529 24,927 Others 26,750 45,648 Total 559,647 365,419 Current 559,647 365,419 Non-current — — (i) The Group income tax liability is presented net of tax assets which the entities are allowed to offset during the current year. The line includes current Corporate Income Tax (CIT) liability of R$313,167 (R$164,767 - 2022), taxes that XP is responsible to pay on behalf of its clients (i.e., withholding taxes over client’s investments) in the amount of R$166,755 (R$20,741 - 2022) and taxes assets of R$116,591 (R$42,375 - 2022). (ii) The amount classified as “Taxes on long term incentive plan” includes mostly contributions to Brazilian Social Security Programs FGTS and INSS.

Retirement plans liabilities (T

Retirement plans liabilities (Tables)	12 Months Ended
Retirement plans liabilities (Tables)	Dec. 31, 2023
Disclosure of defined benefit plans [abstract]
Summary of net defined benefit liability (asset)	Changes in the period 2023 2022 As of January, 1 45,733,815 31,921,400 Contributions received 3,333,361 3,007,321 Transfer with third party plans 5,562,491 10,580,681 Withdraws (3,847,214) (3,441,303) Claims paid (210) — Other provisions (Constitution/Reversion) 9,185 54,828 Monetary correction and interest income 5,617,647 3,610,888 As of December, 31 56,409,075 45,733,815

Income tax (Tables)

Income tax (Tables)	12 Months Ended
Income tax (Tables)	Dec. 31, 2023
Major components of tax expense (income) [abstract]
Summary of components of deferred tax assets and deferred tax liabilities	Deferred tax assets (DTA) and deferred tax liabilities (DTL) are comprised of the main following components: Balance Sheet Net change in the year 2023 2022 2023 2022 2021 Tax losses carryforwards 742,245 575,120 167,125 466,982 100,756 Goodwill on business combinations (i) 35,823 6,376 29,447 (6,053) (10,409) Provisions for IFAs’ commissions 90,075 71,986 18,089 (4,988) (17,570) Revaluations of financial assets at fair value (166,281) (214,456) 48,175 (388,197) 190,520 Expected credit losses (ii) 335,711 58,208 277,503 14,277 24,487 Profit sharing plan 278,983 269,949 9,034 9,084 96,057 Net gain on hedge instruments (22,704) (11,169) (11,535) (39,292) 7,137 Share-based compensation 627,730 566,721 61,009 181,127 269,618 Other provisions 96,189 178,104 (81,915) 23,764 86,845 Total 2,017,771 1,500,839 516,932 256,704 747,441 Deferred tax assets 2,104,128 1,611,882 Deferred tax liabilities (86,357) (111,043) (i) For Brazilian tax purposes, goodwill is amortized over 5 years on a straight-line basis when the entity acquired is sold or merged into the acquirer company. (ii) Include expected credit loss on accounts receivable, loan operations and other financial assets.
Summary of reconciliation of changes in net deferred tax	The changes in the net deferred tax were recognized as follows: 2023 2022 2021 At January, 1 1,500,839 1,244,135 496,694 Foreign exchange variations (78,128) 5,786 (16,949) Business combination (Note 5(ii)) 401,521 — — Charges to statement of income 549,702 397,792 387,551 Tax relating to components of other comprehensive income (356,163) (146,874) 376,839 At December, 31 2,017,771 1,500,839 1,244,135
Summary of income tax calculation	The following is a reconciliation of income tax expense to profit (loss) for the year, calculated by applying the combined Brazilian statutory rates at 34% for the year ended December 31: 2023 2022 2021 Income before taxes 3,936,348 3,444,656 3,815,174 Combined tax rate in Brazil (a) 34.00 % 34.00 % 34.00 % Tax expense at the combined rate 1,338,359 1,171,183 1,297,159 Loss (income) from entities not subject to deferred taxation — 245 554 Effects from entities taxed at different rates (43,572) 62,596 146,377 Effects from entities taxed at different taxation regimes (b) (1,174,605) (1,343,757) (1,128,400) Intercompany transactions with different taxation regimes (68,673) (46,674) (79,055) Tax incentives (17,835) (5,346) (21,036) Non-deductible expenses (non-taxable income) (17,459) 3,758 25,216 Effect from Social Contribution on net equity rate increase — 985 — Others 20,742 21,455 (18,101) Total 36,957 (135,555) 222,714 Current 586,659 262,237 610,265 Deferred (549,702) (397,792) (387,551) Total expense / (credit) 36,957 (135,555) 222,714 (a) Considering that XP Inc. is domiciled in Cayman and there is no income tax in that jurisdiction, the combined tax rate of 34% demonstrated above is the current rate applied to XP Investimentos S.A. which is the holding company of all operating entities of XP Inc. in Brazil. (b) Certain eligible subsidiaries adopted the PPM tax regime and the effect of the presumed profit of subsidiaries represents the difference between the taxation based on this method and the amount that would be due based on the statutory rate applied to the taxable profit of the subsidiaries. Additionally, some entities and investment funds adopt different taxation regimes according to the applicable rules in their jurisdictions.
Summary of analysis of other comprehensive income by item	The tax (charge)/credit relating to components of other comprehensive income is as follows: Before tax (Charge) / Credit After tax Foreign exchange variation of investees located abroad 20,977 — 20,977 Gains (losses) on net investment hedge (29,701) 10,942 (18,758) Changes in the fair value of financial assets at fair value (914,914) 365,897 (549,017) As of December 31, 2021 (923,637) 376,839 (546,798) Foreign exchange variation of investees located abroad (19,645) — (19,645) Gains (losses) on net investment hedge 26,154 (8,902) 17,252 Changes in the fair value of financial assets at fair value 356,078 (137,972) 218,106 As of December 31, 2022 362,587 (146,874) 215,713 Foreign exchange variation of investees located abroad (41,160) — (41,160) Gains (losses) on net investment hedge 41,477 (6,874) 34,603 Changes in the fair value of financial assets at fair value 905,670 (349,289) 556,381 As of December 31, 2023 905,987 (356,163) 549,824

Equity (Tables)

Equity (Tables)	12 Months Ended
Equity (Tables)	Dec. 31, 2023
Disclosure of classes of share capital [abstract]
Summary of issuances and conversations of shares	Below is a summary of the issuances, cancellations and conversions of shares during 2023 and 2022: Class A (prior common shares) Class B (prior preferred shares) Total Shares As of December 31, 2021 424,153,735 135,394,989 559,548,724 Transfer of classes 22,677,895 (22,677,895) — Follow on offering 970,031 — 970,031 As of December 31, 2022 447,801,661 112,717,094 560,518,755 Transfer of classes (31,267,095) — (31,267,095) Issuance of shares 20,241,514 — 20,241,514 As of December 31, 2023 436,776,080 112,717,094 549,493,174

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
Related party transactions (Tables)	Dec. 31, 2023
Disclosure of transactions between related parties [abstract]
Summary of key management personnel compensation expense	Key management includes executive statutory directors, members of the Board of Directors and Executive Boards. The compensation paid or payable to key management for their services is shown below: 2023 2022 2021 Fixed compensation 17,445 7,837 8,801 Variable compensation 15,843 60,781 44,362 Total 33,288 68,618 53,163
Summary of transactions between related parties explanatory	The main transactions carried with related parties for year-end balances arising from such transactions are as follows: Assets/(Liabilities) Revenue/(Expenses) Relation and transaction 2023 2022 2023 2022 2021 Shareholders with significant influence (i) — (3,562,079) 6,104 (160,835) (60,177) Securities — 238,088 17,403 24,770 4,270 Securities purchased under agreements to resell — — 5,101 9,370 19,098 Accounts receivable and Loans operations — 476 424 1,330 744 Securities sold under repurchase agreements — (3,800,643) (16,824) (196,305) (84,268) Borrowings — — — — (21) (i) These transactions are mainly related to Itaúsa S.A. Group. See note 1 (1.4).

Provisions and contingent lia_2

Provisions and contingent liabilities (Tables)	12 Months Ended
Provisions and contingent liabilities (Tables)	Dec. 31, 2023
Disclosure of other provisions [abstract]
Summary of other provisions	2023 2022 Tax contingencies 1,537 — Civil contingencies 37,921 20,419 Labor contingencies 57,965 7,908 Other provisions (i) 255 15,214 Total provision 97,678 43,541 Judicial deposits (ii) 22,108 12,077 (i) There are circumstances in which the Group is questioning the legitimacy of certain litigations or claims filed against it. As a result, either because of a judicial order or based on the strategy adopted by Management, the Group might be required to secure part or the whole amount in question by means of judicial deposits, without this being characterized as the settlement of the liability. These amounts are classified as “Other assets” on the consolidated balance sheets and referred above for information.
Summary of changes in other provisions	Changes in the provision during the year 2023 2022 2021 Balance at January 1 43,541 29,308 19,711 Business combination (Note 5(ii)) 70,910 — — Monetary correction 25,954 4,449 6,837 Provision 65,731 23,844 8,457 Reversed (55,791) (11,539) (3,132) Payments (52,667) (2,521) (2,565) Balance at December 31 97,678 43,541 29,308
Summary of contingent liabilities	2023 2022 Tax (i) (ii) 653,714 543,463 Civil (iii) (iv) 883,485 335,644 Labor (v) 289,489 14,638 Total 1,826,688 893,745 (i) Employees Profit Sharing Plans: At the end of years 2015, 2019, 2021 and 2022 tax authorities issued assessments against the Group claiming mainly for allegedly unpaid social security contributions on amounts due and paid to employees as profit sharing plans related to calendar years of 2011, 2015, 2017 and 2018. According to the tax authorities, the Group profit sharing plans did not comply with the provisions of Law 10,101/00. The risk of loss for these claims is classified as possible by the external counsels. a. Tax assessment related to 2011: The first and the second administrative appeals were denied, and currently the Group awaits for the judgment of the special appeal by the Superior Court of the Administrative Council of Tax Appeals (“CARF”). The amount claimed is R$20,879. b. Tax assessment related to 2015: The first administrative appeal was denied, and currently the Group awaits for the judgment of the second appeal by the CARF. The amount claimed is R$54,220. c. Tax assessment related to 2017: In addition to the claim related to the employees’ profit sharing plan tax authorities are also challenging the deductibility for Corporate Income Tax (IRPJ) and Social Contribution of Net Profits (CSLL) purposes of the amounts paid under such plan to the members of the Board. Administrative appeals were filed against the assessment, which is awaiting judgment by the Federal Revenue Service of Brazil (“RFB”). The total amount claimed is R$118,395. d. Tax assessment related to 2018: An administrative appeal was filed against the assessment, which awaits for judgment by the RFB. The total amount claimed is R$142,447. e. In June 2022, the Group was notified by the Public Labor Ministry for allegedly unpaid FGTS (Fund for Severance Indemnity Payment) on the amounts paid to employees under profit sharing plans related to years 2015 to 2020. According to the tax authorities the Group profit sharing plans did not comply with the provisions of Law 10,101/00. The Group presented its administrative defense and awaits for the judgment. The total amount claimed is R$135,739. f. On February 14, 2024, the Group received a tax assessment related to the Employees’ Profit Sharing Plan paid in calendar year of 2019. The amount claimed is R$ 193,183. (ii) Amortization of goodwill: The Group also received four tax assessments in which the tax authorities challenge the deductibility for Corporate Income Tax (IRPJ) and Social Contribution of Net Profits (CSLL) purposes of the expenses deriving from the amortization of goodwill registered upon the acquisitions made by the Group between 2013 and 2016. According to the tax authorities, the respective goodwill was registered in violation of Laws 9.532/97 and 12.973/14, respectively. Currently, two of the proceedings are pending judgment by the RFB and the other two awaits for judgement by the CARF, considering that the administrative appeals were denied. Also, the Group have filed two lawsuits to prevent the issuance of new tax assessments and/or the application of the 150% penalty by the tax authorities in relation to expenses of such goodwill incurred in other periods. The risk of loss for these claims is classified as possible by the external counsels. The amount claimed is R$ 82,285. (iii) Banco Modal S.A. - Employees Profit Sharing Plan: In March 2016, tax authorities issued an assessment against Banco Modal claiming mainly for allegedly unpaid social security contributions on amounts due and paid to employees as profit sharing plan related to calendar year of 2012. The first administrative appeal was denied, and currently Banco Modal awaits for the judgment of the second appeal by the CARF. The risk of loss for this claim is classified as possible by the external counsels. The total amount claimed is R$ 6,637. (iv) The Group is defendant in 778 (December 31, 2022 – 586) civil and administrative claims by customers and investment agents, mainly related to portfolio management, risk rating, copyrights and contract termination. The total amount represents the collective maximum value to which the Group is exposed based on the claims’ amounts monetarily restated. (v) The Group is defendant in 116 (December 31, 2022 – 28) labor claims by former employees. The total amount represents the collective maximum value to which the Group is exposed based on the claims’ amounts monetarily restated.

Total revenue and income (Table

Total revenue and income (Tables)	12 Months Ended
Total revenue and income (Tables)	Dec. 31, 2023
Analysis of income and expense [abstract]
Disaggregation of revenue by major service lines	Revenue from contracts with customers derives mostly from services rendered and fees charged at daily transactions from customers, therefore mostly recognized at a point in time. Disaggregation of revenue by major service lines are as follows: 2023 2022 2021 Major service lines Brokerage commission 1,991,781 2,102,878 2,465,217 Securities placement 1,979,406 1,631,399 1,917,403 Management fees 1,628,373 1,580,770 1,489,736 Insurance brokerage fee 175,326 153,230 133,070 Commissions Fees 789,822 563,987 192,923 Other services 588,932 476,492 603,330 Gross revenue from services rendered 7,153,640 6,508,756 6,801,679 (-) Sales taxes and contributions on revenue (i) (621,635) (568,300) (605,214) Net revenue from services rendered 6,532,005 5,940,456 6,196,465 (i) Mostly related to taxes on services (ISS) and contributions on revenue (PIS and COFINS).
Summary of net income from financial instruments	2023 2022 2021 Net income/(loss) from financial instruments at fair value through profit or loss 6,923,112 6,326,080 7,555,132 Net income/(loss) from financial instruments measured at amortized cost and at fair value through other comprehensive income 1,649,210 1,201,253 (1,558,060) Total income from financial instruments 8,572,322 7,527,333 5,997,072 (-) Taxes and contributions on financial income (244,231) (120,399) (116,425) Net income/(loss) from financial instruments 8,328,091 7,406,934 5,880,647
Summary of disaggregation by geographic location	Breakdown of total net revenue and income and selected assets by geographic location: 2023 2022 2021 Brazil 14,261,302 12,855,909 11,723,976 United States 531,997 449,447 332,046 Europe 66,797 42,034 21,090 Revenues 14,860,096 13,347,390 12,077,112 2023 2022 2021 Brazil 13,255,769 8,649,964 7,698,115 United States 508,544 488,158 106,736 Europe 88,395 49,496 1,746 Selected assets (i) 13,852,708 9,187,618 7,806,597 (i) Selected assets are total assets of the Group, less: cash, financial assets and deferred tax assets, which are presented by geographic location.

Operating costs (Tables)

Operating costs (Tables)	12 Months Ended
Operating costs (Tables)	Dec. 31, 2023
Analysis of income and expense [abstract]
Summary of operating costs	2023 2022 2021 Commission and incentive costs 3,070,875 2,813,308 2,719,611 Operating losses 136,014 139,734 93,664 Other costs 1,192,034 918,054 616,834 Clearing house fees 474,013 427,844 411,605 Third parties’ services 59,374 53,779 88,431 Credit card cashback 379,711 262,429 91,093 Other 278,936 174,002 25,705 Total 4,398,923 3,871,096 3,430,109

Operating expenses by nature (T

Operating expenses by nature (Tables)	12 Months Ended
Operating expenses by nature (Tables)	Dec. 31, 2023
Analysis of income and expense [abstract]
Summary of operating expenses by nature	2023 2022 2021 Selling expenses 169,486 138,722 227,483 Advertising and publicity 169,486 138,722 227,483 Administrative expenses 5,461,147 5,641,233 4,692,698 Personnel expenses 3,728,123 3,943,284 3,427,220 Compensation 1,371,973 1,597,229 1,416,247 Employee profit-sharing and bonus 1,531,491 1,540,172 1,362,046 Executives profit-sharing 149,263 100,732 143,763 Benefits 223,694 195,763 130,187 Social charges 437,377 487,237 358,878 Other 14,325 22,151 16,099 Other taxes expenses 65,526 71,396 53,603 Depreciation of property and equipment and right-of-use assets 118,603 110,248 68,618 Amortization of intangible assets 133,810 95,629 163,112 Other administrative expenses 1,415,085 1,420,676 980,145 Data processing 739,804 685,946 450,796 Technical services 152,499 188,986 167,984 Third parties' services 307,952 397,585 249,514 Rent expenses 23,656 14,491 16,498 Communication 31,577 27,076 30,041 Travel 36,232 40,243 13,282 Legal and judicial 24,610 9,873 9,292 Other 98,755 56,476 42,738 Total 5,630,633 5,779,955 4,920,181

Other operating income_(expen_2

Other operating income/(expenses), net (Tables)	12 Months Ended
Other operating income/(expenses), net (Tables)	Dec. 31, 2023
Analysis of income and expense [abstract]
Summary of other operating income, net	2023 2022 2021 Other operating income 227,052 353,834 413,665 Revenue from incentives from Tesouro Direto, B3 and others (a) 23,834 284,661 366,163 Interest received on tax 17,224 15,436 7,604 Recovery of charges and expenses 6,072 5,945 4,473 Reversal of operating provisions 29,365 11,704 7,422 Other 150,557 36,088 28,003 Other operating expenses (216,414) (96,890) (89,311) Legal, administrative proceedings and agreement with customers (46,101) (8,563) (3,667) Losses on write-off and disposal of assets (77,886) (6,794) (4,377) Tax incentive expenses (10,034) (5,780) (10,788) Fines and penalties (9,624) (4,574) (1,378) Associations and regulatory fees (17,960) (15,118) (11,714) Charity (14,681) (34,005) (30,171) Other (40,128) (22,056) (27,216) Total 10,638 256,944 324,354 (a) Includes incentives received from third parties, mainly due to the joint development of retail products, and also the association of such entities with the XP ecosystem.

Share-based plan (Tables)

Share-based plan (Tables)	12 Months Ended
Share-based plan (Tables)	Dec. 31, 2023
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Summary of RSU and PSU activity	Set out below are summaries of XP Inc's RSU and PSU activity for 2023 and 2022. RSUs PSUs Total (In thousands, except weighted-average data, and where otherwise stated) Number of units Number of units Number of units Outstanding, January 1, 2022 15,153,830 2,966,060 18,119,890 Granted 814,745 — 814,745 Forfeited (1,559,670) (438,818) (1,998,488) Vested (724,481) — (724,481) Outstanding, December 31, 2022 13,684,424 2,527,242 16,211,666 Outstanding, January 1, 2023 13,684,424 2,527,242 16,211,666 Granted 4,489,910 91,589 4,581,499 Forfeited (1,463,203) (1,030,013) (2,493,216) Vested (2,110,543) — (2,110,543) Outstanding, December 31, 2023 14,600,588 1,588,818 16,189,406

Earnings per share (basic and_2

Earnings per share (basic and diluted) (Tables)	12 Months Ended
Earnings per share (basic and diluted) (Tables)	Dec. 31, 2023
Earnings per share [abstract]
Summary of earnings per share	The following table presents the calculation of net income applicable to the owners of the parent and basic and diluted EPS for the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Net Income attributable to owners of the Parent 3,898,702 3,579,050 3,589,416 Basic weighted average number of outstanding shares (i) (iii) 539,835 555,429 559,004 Basic earnings per share - R$ 7.2220 6.4438 6.4211 Effect of dilution Shared-based plan (ii) (iii) 4,377 17,577 14,496 Diluted weighted average number of outstanding shares (iii) 544,212 573,006 573,499 Diluted earnings per share - R$ 7.1639 6.2461 6.2588 (i) See on note 25, the number of XP Inc.’s outstanding common shares during the year. (ii) See on note 32, the number of shares granted and forfeited during the year regarding XP Inc.’s share-based plan. (iii) Thousands of shares.

Determination of fair value (Ta

Determination of fair value (Tables)	12 Months Ended
Determination of fair value (Tables)	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of fair value measurement of assets and liabilities	Below are the Group financial assets and liabilities by level within the fair value hierarchy. The Group assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels: 2023 Level 1 Level 2 Level 3 Fair Value Book Value Financial Assets Financial assets at Fair value through profit or loss Securities 92,628,880 10,653,332 — 103,282,212 103,282,212 Derivative financial instruments 977,441 22,756,025 — 23,733,466 23,733,466 Investments in associates measured at fair value — — 1,450,704 1,450,704 1,450,704 Fair value through other comprehensive income Securities 44,062,950 — — 44,062,950 44,062,950 Evaluated at amortized cost Securities 3,773,404 3,082,017 — 6,855,421 6,855,421 Securities purchased under agreements to resell — 13,551,224 — 13,551,224 14,888,978 Securities trading and intermediation — 2,932,319 — 2,932,319 2,932,319 Accounts receivable — 681,190 — 681,190 681,190 Loan operations — 20,874,930 — 28,551,935 28,551,935 Other financial assets — 4,208,743 — 4,208,743 4,208,743 Financial liabilities Fair value through profit or loss Securities 19,949,021 474,053 — 20,423,074 20,423,074 Derivative financial instruments 662,084 24,123,332 — 24,785,416 24,785,416 Evaluated at amortized cost Securities sold under repurchase agreements — 44,589,653 — 44,589,653 33,340,511 Securities trading and intermediation — 16,943,539 — 16,943,539 16,943,539 Financing instruments payable — 61,098,677 — 61,098,677 60,365,590 Borrowings — 3,174,285 — 3,174,285 2,199,422 Accounts payables — 948,218 — 948,218 948,218 Other financial liabilities — 11,659,653 571,723 12,231,376 12,231,376 2022 Level 1 Level 2 Level 3 Fair Value Book Value Financial Assets Financial assets at Fair value through profit or loss Securities 73,022,643 14,490,361 — 87,513,004 87,513,004 Derivative financial instruments 296,249 8,920,906 — 9,217,155 9,217,155 Investments in associates measured at fair value — — 1,523,425 1,523,425 1,523,425 Fair value through other comprehensive income Securities 34,478,668 — — 34,478,668 34,478,668 Evaluated at amortized cost Securities 7,579,658 1,695,368 — 9,275,026 9,272,103 Securities purchased under agreements to resell — 7,172,777 — 7,172,777 7,603,820 Securities trading and intermediation — 3,271,000 — 3,271,000 3,271,000 Accounts receivable — 597,887 — 597,887 597,887 Loan operations — 20,874,930 — 20,874,930 22,211,161 Other financial assets — 3,517,189 — 3,517,189 3,517,189 Financial liabilities Fair value through profit or loss Securities 13,048,246 481,019 — 13,529,265 13,529,265 Derivative financial instruments 167,874 8,437,535 — 8,605,409 8,605,409 Evaluated at amortized cost Securities sold under repurchase agreements — 31,370,050 — 31,370,050 31,790,091 Securities trading and intermediation — 16,062,697 — 16,062,697 16,062,697 Financing instruments payable — 43,669,798 — 43,669,798 43,683,629 Borrowings — 1,814,714 — 1,814,714 1,865,880 Accounts payables — 617,394 — 617,394 617,394 Other financial liabilities — 10,987,283 566,930 11,554,213 11,554,213

Management of financial risks_2

Management of financial risks and financial instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of financial assets representing the maximum exposure to credit risk	The carrying amount of the financial assets representing the maximum exposure to credit risk is shown in the table below: 2023 2022 Financial assets Securities purchased under agreements to resell 14,888,978 7,603,820 Securities 154,200,583 131,263,775 Public securities 75,289,433 63,895,371 Private securities 78,911,150 67,368,404 Derivative financial instruments 23,733,466 9,217,155 Securities trading and intermediation 2,932,319 3,271,000 Accounts receivable 681,190 597,887 Loan operations 28,551,935 22,211,161 Other financial assets 4,208,743 3,517,189 Off-balance exposures (credit card limits) 8,912,707 5,014,845 Total 238,109,921 182,696,832
Summary of financial liabilities into groupings based on their contractual maturities	The tables below summarizes the Group’s financial liabilities into groupings based on their contractual maturities: 2023 Liabilities Up to 1 month From 2 to 3 months From 3 to 12 months From 1 to 5 years Above 5 years Contractual cash flow Securities 19,949,021 — — — 474,053 20,423,074 Derivative financial instruments 5,580,573 2,719,744 6,773,980 7,873,062 1,838,057 24,785,416 Securities sold under repurchase agreements 32,796,941 543,570 — — — 33,340,511 Securities trading and intermediation 16,943,539 — — — — 16,943,539 Financing instruments payable 3,812,510 8,383,531 10,690,918 36,648,126 830,505 60,365,590 Borrowings — 10,796 2,188,626 — — 2,199,422 Accounts payables 948,218 — — — — 948,218 Other financial liabilities 5,815,141 756,864 4,588,231 1,056,580 14,560 12,231,376 Total 85,845,943 12,414,505 24,241,755 45,577,768 3,157,175 171,237,146 2022 Liabilities Up to 1 month From 2 to 3 months From 3 to 12 months From 1 to 5 years Above 5 years Contractual cash flow Securities 13,048,246 — — — 481,019 13,529,265 Derivative financial instruments 796,909 845,446 2,340,407 4,507,132 115,515 8,605,409 Securities sold under repurchase agreements 31,790,091 — — — — 31,790,091 Securities trading and intermediation 16,062,697 — — — — 16,062,697 Financing instruments payable 4,407,525 9,469,722 5,917,325 23,078,719 810,338 43,683,629 Borrowings — — 1,865,880 — 1,865,880 Accounts payables 617,394 — — — — 617,394 Other financial liabilities 5,959,212 534,835 4,432,215 627,951 — 11,554,213 Total 72,682,074 10,850,003 14,555,827 28,213,802 1,406,872 127,708,578
Summary of sensitivity analysis	2023 Trading portfolio Exposures Scenarios Risk factors Risk of variation in: I II III Fixed interest rate Fixed interest rate in Reais (258) 21,269 22,753 Exchange coupons Foreign currencies coupon rate (367) (18,174) (36,588) Foreign currencies Exchange rates 331 343,440 907,349 Price indexes Inflation coupon rates (103) (12,998) (24,579) Shares Shares prices (3,472) (251,572) (289,613) Seed Money (i) Seed Money (2,822) (70,566) (141,133) (6,691) 11,399 438,189 2022 Trading portfolio Exposures Scenarios Risk factors Risk of variation in: I II III Fixed interest rate Fixed interest rate in Reais (174) (231,438) (483,589) Exchange coupons Foreign currencies coupon rate (15) (5,407) (10,418) Foreign currencies Exchange rates (2,089) 22,825 (120,873) Price indexes Inflation coupon rates (118) (19,523) (40,147) Shares Shares prices (4,689) (46,927) (242,687) Seed Money (i) Seed Money (6,685) (167,106) (334,211) (13,770) (447,576) (1,231,925) (i) Related to seed money strategy, which includes several risk factors that are disclosed in aggregate. Scenario I: Increase of 1 basis point in the rates in the fixed interest rate yield, exchange coupons, inflation and 1 percentage point in the prices of shares, commodities and currencies; Scenario II: Project a variation of 25 percent in the rates of the fixed interest yield, exchange coupons, inflation, prices of shares, commodities and currencies, both rise and fall, being considered the largest losses resulting by risk factor; and Scenario III: Project a variation of 50 percent in the rates of the fixed interest yield, exchange coupons, inflation, prices of shares, commodities and currencies, both rise and fall, being considered the largest losses resulting from the risk factor.

Capital management (Tables)

Capital management (Tables)	12 Months Ended
Capital management (Tables)	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of net debt and corresponding gearing ratios	The net debt and corresponding gearing ratios as of December 31, 2023 and 2022 were as follows: 2023 2022 Group debt (Note 37) (i) 8,512,319 8,175,437 Structured financing (Note 20 (b)) 1,841,790 1,933,522 Total debt 10,354,109 10,108,959 Cash (3,943,307) (3,553,126) Securities purchased under agreements to resell (Note 6 (a)) (2,760,296) (646,478) Certificate deposits (Securities) (Note 7 (a)) (67,985) (252,877) Deposits at Central Bank (Note 20 (a)) (2,438,896) (514,999) Net debt 1,143,625 5,141,479 Total equity attributable to owners of the parent company 19,449,352 17,035,735 Total capital 20,592,977 22,177,214 Gearing ratio % 5.55% 23.18% (i) Includes debentures and bonds designated as fair value through profit or loss. See Note 7(e) and 17, respectively.

Cash flow information (Tables)

Cash flow information (Tables)	12 Months Ended
Cash flow information (Tables)	Dec. 31, 2023
Disclosure of reconciliation of liabilities arising from financing activities [abstract]
Summary of debt reconciliation	(i) Debt reconciliation Debt securities (i) Borrowings Lease liabilities Debentures and Notes Bonds Total Total debt as of January 1, 2021 284,087 208,448 335,250 — 827,785 Acquisitions/Issuance 1,570,639 116,248 500,018 3,691,262 5,878,167 Payments/repurchase (21,022) (55,349) (177,826) — (254,197) Revaluation — 24,234 — — 24,234 Net foreign exchange differences 73,426 7,486 — 431,250 512,162 Interest accrued 21,689 17,488 60,919 74,798 174,894 Interest paid (37) — (12,386) (69,004) (81,427) Total debt as of December 31, 2021 1,928,782 318,555 705,975 4,128,306 7,081,618 Total debt as of January 1, 2022 1,928,782 318,555 705,975 4,128,306 7,081,618 Acquisitions/Issuance — 49,853 1,890,500 — 1,940,353 Payments/repurchase (2,061) (99,655) (175,999) — (277,715) Revaluation — (89) — — (89) Net foreign exchange differences (87,158) (5,820) — (218,607) (311,585) Interest accrued 69,593 22,794 203,275 129,113 424,775 Interest paid (43,276) — (27,232) (127,429) (197,937) Total debt as of December 31, 2022 1,865,880 285,638 2,596,519 3,911,383 8,659,420 Total debt as of January 1, 2023 1,865,880 285,638 2,596,519 3,911,383 8,659,420 Acquisitions/Issuance 2,252,550 116,774 373,481 — 2,742,805 Business combination (Note 5(ii)) 978 19,802 — — 20,780 Payments/repurchase (1,833,937) (132,737) (527,687) (62,342) (2,556,703) Write-offs — (675) — — (675) Net foreign exchange differences (147,802) (6,967) — (319,952) (474,721) Interest accrued 61,753 22,927 392,857 134,148 611,685 Interest paid — — (28,396) (116,670) (145,066) Total debt as of December 31, 2023 2,199,422 304,762 2,806,774 3,546,567 8,857,525 Debt securities includes Debentures measured at FVPL presented in Note 7(e) and does not include fair value adjustments of (i) Debentures - R$120,280 (R$86,819 - 2022) and (ii) Bonds - R$224,927 (R$350,207 - 2022).

Operations - Additional informa

Operations - Additional information (Details)

Apr. 05, 2023 BRL (R$) shares

Dec. 31, 2023 BRL (R$) shares

Dec. 31, 2023 USD ($) shares

Jul. 01, 2023 BRL (R$)

Mar. 31, 2023 shares

Nov. 10, 2022 BRL (R$) shares

Nov. 10, 2022 USD ($) shares

Nov. 04, 2022 BRL (R$)

Jun. 08, 2022 BRL (R$) shares

Jun. 08, 2022 USD ($) shares

Jun. 07, 2022 shares

May 12, 2022 BRL (R$)

Percentage of Ownership held by holding company

66.50%

Share repurchase limit

2,000,000,000

Banco Modal S.A.

Purchase consideration transferred of subsidiaries | R$

R$ 2097326000

Habitat Capital Partners

Purchase consideration transferred of subsidiaries | R$

R$ 65353000

Class A Common Share

Repurchase of outstanding class A common shares | R$

R$ 2000000000.0

R$ 1000000000.0

Number of repurchased shares

25,037,192

Repurchased shares

R$ 2059000000

$ 394,000,000

Price of repurchased shares (per share) | R$

15.76

Number of Cancel Treasury Shares

31,267,095

Cancellation of treasury shares | R$

R$ 2785504000

Percentage of outstanding shares cancelled

5.60%

Number of total shares Outstanding Before Cancellation

560,534,012

Number of total shares Outstanding After Cancellation

529,266,917

Class A Common Share | Top of range

Price of repurchased shares (per share) | R$

24.85

Class A Common Share | Bottom of range

Price of repurchased shares (per share) | R$

R$ 10.69

Itau Class B Common Share [Member]

Number of repurchased shares

1,056,308

Repurchased shares

R$ 117000000

$ 24,000,000

Price of repurchased shares (per share) | $

$ 22.65

Itaú Unibanco class A shares [Member]

Number of repurchased shares

6,783,939

Itausa class A shares [Member]

Number of repurchased shares

5,500,000

Repurchased shares

R$ 562000000

$ 105,000,000

Price of repurchased shares (per share)

R$ 102.14

$ 19.1

Basis of preparation of the f_2

Basis of preparation of the financial statements and changes to the Group’s accounting policies (Details)	12 Months Ended
	Dec. 31, 2023 segement
Disclosure Of Basis Of Preparation Of Financial Statements Abstract [Abstract]
Number of operating segment	1

Summary of significant accoun_4

Summary of significant accounting policies - Additional information (Details) - BRL (R$)	1 Months Ended				12 Months Ended
	Aug. 31, 2022	Jan. 31, 2022	Jul. 31, 2021	Mar. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies [Line Items]
Increased credit risk when contractual payments are past due					30 days
Combined tax rate in Brazil					34%	34%	34%
Applicable surcharge tax rate					10%
Monthly minimum income for surcharge					R$ 20000
Annual minimum income for surcharge					R$ 240000
Social contribution tax on net income		20%		20%	9%
Loss carryforwards used to offset taxable profit					30%
PIS tax rate					1.65%
COFINS tax rate					7.60%
Rate applicable to companies under PPM PIS					0.65%
Rate applicable to companies under PPM COFINS					3%
CSLL applied for banks regular level					2,000%
CSLL regular level applied for all other financials entities					1,500%
360 days
Summary of Significant Accounting Policies [Line Items]
Period for write-off of Loans and Receivables					360 days
Stage 1
Summary of Significant Accounting Policies [Line Items]
Provision of Expected credit loss on financial assets					12 months
Stage 2
Summary of Significant Accounting Policies [Line Items]
Provision of Expected credit loss on financial assets					30 days
Stage 3
Summary of Significant Accounting Policies [Line Items]
Provision of Expected credit loss on financial assets					90 days
Bottom of range
Summary of Significant Accounting Policies [Line Items]
Percentage of taxes reducing gross revenues					2%
Top of range
Summary of Significant Accounting Policies [Line Items]
Percentage of taxes reducing gross revenues					5%
Financial Institutions and Insurance Companies
Summary of Significant Accounting Policies [Line Items]
Social contribution tax on net income		15%			15%
Rate applicable to companies under PPM PIS					1%
Rate applicable to companies under PPM COFINS					4%
Financial Institutions
Summary of Significant Accounting Policies [Line Items]
Social contribution tax on net income	21%		25%
Social contribution tax on net income temporary increase	1%		5%
Insurance Companies
Summary of Significant Accounting Policies [Line Items]
Social contribution tax on net income	16%		20%
Federal Income Tax
Summary of Significant Accounting Policies [Line Items]
Combined tax rate in Brazil					15%

Summary of significant accoun_5

Summary of significant accounting policies - Summary of depreciation of property and equipment (Details)	12 Months Ended
	Dec. 31, 2023
Data processing system
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation annual rate	20%
Furniture and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation annual rate	10%
Security systems
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation annual rate	10%
Facilities
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation annual rate	10%
Vehicle
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation annual rate	10%

Summary of significant accoun_6

Summary of significant accounting policies - Summary of useful lives of intangible assets (Details)	12 Months Ended
	Dec. 31, 2023
Bottom of range \| Software
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	3 years
Bottom of range \| Internally developed intangible
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	3 years
Bottom of range \| Customer list
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	2 years
Bottom of range \| Trademarks
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	10 years
Top of range \| Software
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	5 years
Top of range \| Internally developed intangible
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	7 years
Top of range \| Customer list
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	8 years
Top of range \| Trademarks
Disclosure of detailed information about intangible assets [line items]
Estimate useful life (years)	20 years

Group structure - Summary of di

Group structure - Summary of direct and indirect interests of company in its subsidiaries (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
XP Investimentos S.A.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Investimentos S.A.
Country of incorporation	Brazil
Principal activities	Holding
Percent of group's interest	100%	100%	100%
XPAC Sponsor LLC
Disclosure of subsidiaries [line items]
Name of subsidiary	XPAC Sponsor LLC
Country of incorporation	Cayman
Principal activities	Special Purpose Acquisition (SPAC) Sponsor
Percent of group's interest	100%	100%	100%
XProject LTD
Disclosure of subsidiaries [line items]
Name of subsidiary	XProject LTD
Country of incorporation	Cayman
Principal activities	Holding
Percent of group's interest	100%	100%	100%
XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A.
Country of incorporation	Brazil
Principal activities	Broker-dealer
Percent of group's interest	100%	100%	100%
XP Vida e Previdencia S.A.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Vida e Previdência S.A. (iii)
Country of incorporation	Brazil
Principal activities	Retirement plans and insurance
Percent of group's interest	100%	100%	100%
Banco XP S.A.
Disclosure of subsidiaries [line items]
Name of subsidiary	Banco XP S.A.
Country of incorporation	Brazil
Principal activities	Multipurpose bank
Percent of group's interest	100%	100%	100%
XP Controle 3 Participações S.A.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Controle 3 Participações S.A.
Country of incorporation	Brazil
Principal activities	Financial Holding
Percent of group's interest	100%	100%	100%
XPE Infomoney Educação Assessoria Empresarial e Participações Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	XPE Infomoney Educação Assessoria Empresarial e Participações Ltda.
Country of incorporation	Brazil
Principal activities	Digital content services
Percent of group's interest	100%	100%	100%
Tecfinance Informática e Projetos de Sistemas Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	Tecfinance Informática e Projetos de Sistemas Ltda.
Country of incorporation	Brazil
Principal activities	Rendering of IT services
Percent of group's interest	99.70%	99.73%	99.73%
XP Corretora de Seguros Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Corretora de Seguros Ltda.
Country of incorporation	Brazil
Principal activities	Insurance broker
Percent of group's interest	99.99%	99.99%	99.99%
XP Gestão de Recursos Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Gestão de Recursos Ltda.
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	95.50%	95.60%	94.90%
XP Finanças Assessoria Financeira Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Finanças Assessoria Financeira Ltda.
Country of incorporation	Brazil
Principal activities	Investment consulting service
Percent of group's interest	99.99%	99.99%	99.99%
Infostocks Informações e Sistemas Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	Infostocks Informações e Sistemas Ltda.
Country of incorporation	Brazil
Principal activities	Mediation of information systems
Percent of group's interest	100%	99.99%	99.99%
XP Advisory Gestão Recursos Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Advisory Gestão Recursos Ltda.
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	99.53%	99.55%	99.54%
XP Vista Asset Management Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Vista Asset Management Ltda.
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	99.99%	99.99%	99.50%
XP Controle 4 Participações S.A.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Controle 4 Participações S.A.
Country of incorporation	Brazil
Principal activities	Insurance holding
Percent of group's interest	100%	100%	100%
XP Investments UK LLP
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Investments UK LLP
Country of incorporation	UK
Principal activities	Inter-dealer broker and Organized Trading Facility (OTF)
Percent of group's interest	100%	100%	100%
XP Holding UK Ltd
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Holding UK Ltd
Country of incorporation	UK
Principal activities	International financial holding
Percent of group's interest	100%	100%	100%
XP Investments US, LLC
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Investments US, LLC
Country of incorporation	USA
Principal activities	Broker-dealer
Percent of group's interest	100%	100%	100%
XP Holding International LLC
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Holding International LLC
Country of incorporation	USA
Principal activities	International financial holding
Percent of group's interest	100%	100%	100%
XP Advisory US
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Advisory US
Country of incorporation	USA
Principal activities	Investment advisor
Percent of group's interest	100%	100%	100%
XP PE Gestão de Recursos Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP PE Gestão de Recursos Ltda.
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	98.10%	98.70%	98.70%
Carteira Online Controle de Investimentos Ltda. - ME
Disclosure of subsidiaries [line items]
Name of subsidiary	Carteira Online Controle de Investimentos Ltda. – ME (v)
Country of incorporation	Brazil
Principal activities	Investment consolidation platform
Percent of group's interest		100%	99.99%
Antecipa S.A.
Disclosure of subsidiaries [line items]
Name of subsidiary	Antecipa S.A.
Country of incorporation	Brazil
Principal activities	Receivables financing market
Percent of group's interest	100%	100%	100%
XP Allocation Asset Management Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Allocation Asset Management Ltda.
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	99.97%	99.99%	99.99%
Track Índices Consultoria Ltda. (v)
Disclosure of subsidiaries [line items]
Name of subsidiary	Track Índices Consultoria Ltda.
Country of incorporation	Brazil
Principal activities	Index provider
Percent of group's interest			100%
XP Eventos Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Eventos Ltda.
Country of incorporation	Brazil
Principal activities	Media and events
Percent of group's interest	100%	100%	99.90%
DM10 Corretora de Seguros Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	DM10 Corretora de Seguros Ltda.
Country of incorporation	Brazil
Principal activities	Insurance broker
Percent of group's interest	100%	100%	100%
XP Comercializadora de Energia Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Comercializadora de Energia Ltda.
Country of incorporation	Brazil
Principal activities	Energy trading
Percent of group's interest	100%	100%	100%
XPAC Acquisition Corp.
Disclosure of subsidiaries [line items]
Name of subsidiary	XPAC Acquisition Corp. (vi)
Country of incorporation	Cayman
Principal activities	Special Purpose Acquisition (SPAC)
Percent of group's interest	0%	20%	20%
XP Distribuidora de Títulos e Valores Mobiliários
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Distribuidora de Títulos e Valores Mobiliários
Country of incorporation	Brazil
Principal activities	Securities dealer
Percent of group's interest	100%	100%	100%
Instituto de Gestao a Tecnologia de Informacao Ltda.
Disclosure of subsidiaries [line items]
Name of subsidiary	Instituto de Gestão e Tecnologia da Informação Ltda.
Country of incorporation	Brazil
Principal activities	Educational content services
Percent of group's interest	100%	100%	100%
Xtage Intermediação S.A.
Disclosure of subsidiaries [line items]
Name of subsidiary	Xtage Intermediação S.A.
Country of incorporation	Brazil
Principal activities	Digital assets
Percent of group's interest	100%	100%	100%
Habitat Capital Partners
Disclosure of subsidiaries [line items]
Name of subsidiary	Habitat Capital Partners (v)
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest		99.99%
XP Administradora de Benefícios Ltda
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Administradora de Benefícios Ltda.
Country of incorporation	Brazil
Principal activities	Individual health plan intermediation
Percent of group's interest	100%	100%	0%
BTR Administração e Corretagem de Seguros S.A.
Disclosure of subsidiaries [line items]
Name of subsidiary	BTR Administração e Corretagem de Seguros S.A. (ii)
Country of incorporation	Brazil
Principal activities	Retirement plans and insurance
Percent of group's interest	100%	100%	0%
Falx Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Disclosure of subsidiaries [line items]
Name of subsidiary	Falx Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
Gladius Fundo de Investimento Multimercado Investimento no Exterior
Disclosure of subsidiaries [line items]
Name of subsidiary	Gladius Fundo de Investimento Multimercado Investimento no Exterior
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
Scorpio Debentures Incentivadas Fundo de Investimento Multimercado Crédito Privado
Disclosure of subsidiaries [line items]
Name of subsidiary	Scorpio Debentures Incentivadas Fundo de Investimento Multimercado Crédito Privado
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
Javelin Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Disclosure of subsidiaries [line items]
Name of subsidiary	Javelin Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
Frade Fundo de Investimento em Cotas de Fundos de Investimento em Direitos Creditórios NP
Disclosure of subsidiaries [line items]
Name of subsidiary	Frade Fundo de Investimento em Cotas de Fundos de Investimento em Direitos Creditórios NP
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
Frade III Fundo de Investimento em Cotas de Fundo de Investimento Multimercado Crédito Privado
Disclosure of subsidiaries [line items]
Name of subsidiary	Frade III Fundo de Investimento em Cotas de Fundo de Investimento Multimercado Crédito Privado
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
Coliseu Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Disclosure of subsidiaries [line items]
Name of subsidiary	Coliseu Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
NIMROD Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Disclosure of subsidiaries [line items]
Name of subsidiary	NIMROD Fundo de Investimento Multimercado Crédito Privado Investimento no Exterior
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
XP High Yield Fund SP
Disclosure of subsidiaries [line items]
Name of subsidiary	XP High Yield Fund SP
Country of incorporation	Cayman
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
XP International Fund SPC
Disclosure of subsidiaries [line items]
Name of subsidiary	XP International Fund SPC
Country of incorporation	Cayman
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
XP Managers Fundo de Investimento em Participações Multiestratégia
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Managers Fundo de Investimento em Participações Multiestratégia
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
XP Alesia Fund SP CL Shares - Brazil Internacional Fund SPC.
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Alesia Fund SP CL Shares - Brazil Internacional Fund SPC.
Country of incorporation	Cayman
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
Newave Fundo de Investimento em Participações Multiestratégia (v)
Disclosure of subsidiaries [line items]
Name of subsidiary	Newave Fundo de Investimento em Participações Multiestratégia (v)
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	0%	100%	100%
Endor Fundo de Investimento em Participações Multiestratégia Investimento no Exterior
Disclosure of subsidiaries [line items]
Name of subsidiary	Endor Fundo de Investimento em Participações Multiestratégia Investimento no Exterior
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	100%	100%
XP Phalanx CT Fund
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Phalanx CT Fund
Country of incorporation	Cayman
Principal activities	Investment fund
Percent of group's interest	100%	100%	0%
XP Controle 6 Participacoes S.A [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Controle 6 Participações S.A. (iv)
Country of incorporation	Brazil
Principal activities	Holding
Percent of group's interest	100%	0%	0%
XP Representação Seguros Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Representação Seguros Ltda. (iv)
Country of incorporation	Brazil
Principal activities	Insurance broker
Percent of group's interest	100%	0%	0%
Banco Modal S.A.
Disclosure of subsidiaries [line items]
Name of subsidiary	Banco Modal S.A. (ii)
Country of incorporation	Brazil
Principal activities	Multipurpose bank
Percent of group's interest	100%	0%	0%
Modal Assessoria Financeira Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Modal Assessoria Financeira Ltda. (ii)
Country of incorporation	Brazil
Principal activities	Investment consulting services
Percent of group's interest	100%	0%	0%
Modal Distribuidora de Títulos e Valores Mobiliários Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Modal Distribuidora de Títulos e Valores Mobiliários Ltda. (ii)
Country of incorporation	Brazil
Principal activities	Securities dealer
Percent of group's interest	100%	0%	0%
Modalmais Treinamento e Desenvolvimento Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Modalmais Treinamento e Desenvolvimento Ltda. (ii)
Country of incorporation	Brazil
Principal activities	Professional training services
Percent of group's interest	100%	0%	0%
Modal Corretora de Seguros Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Modal Corretora de Seguros Ltda. (ii)
Country of incorporation	Brazil
Principal activities	Insurance broker
Percent of group's interest	100%	0%	0%
Eleven Serviços de Consultoria e Análise S.A. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Eleven Serviços de Consultoria e Análise S.A. (ii)
Country of incorporation	Brazil
Principal activities	Investment consulting services
Percent of group's interest	100%	0%	0%
Banking and Trading Desenvolvimento de Sistemas Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Banking and Trading Desenvolvimento de Sistemas Ltda. (“Carteira Global”) (ii)
Country of incorporation	Brazil
Principal activities	Softwares development services
Percent of group's interest	100%	0%	0%
Refinaria de Dados Análise de Dados Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Refinaria de Dados – Análise de Dados Ltda. (ii)
Country of incorporation	Brazil
Principal activities	Digital content services
Percent of group's interest	100%	0%	0%
Hum Bilhão Educação Financeira Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Hum Bilhão Educação Financeira Ltda. (ii)
Country of incorporation	Brazil
Principal activities	Digital content services
Percent of group's interest	100%	0%	0%
Vaivoa Educação Financeira Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Vaivoa Educação Financeira Ltda. (ii)
Country of incorporation	Brazil
Principal activities	Digital content services
Percent of group's interest	100%	0%	0%
Modal As a Service S.A. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Modal As a Service S.A. (ii)
Country of incorporation	Brazil
Principal activities	Financial services
Percent of group's interest	100%	0%	0%
Galapos Consultoria e Participações Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Galapos Consultoria e Participações Ltda. (ii)
Country of incorporation	Brazil
Principal activities	Consulting services
Percent of group's interest	100%	0%	0%
W2D Tecnologia e Soluções Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	W2D Tecnologia e Soluções Ltda. (ii)
Country of incorporation	Brazil
Principal activities	Rendering of IT services
Percent of group's interest	100%	0%	0%
XP Controle 5 Participações Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Controle 5 Participações Ltda.
Country of incorporation	Brazil
Principal activities	Holding
Percent of group's interest	100%	96%	92%
XP Sports Asset Management Ltda. [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	XP Sports Asset Management Ltda. (ii)
Country of incorporation	Brazil
Principal activities	Asset management
Percent of group's interest	100%
Aetos Energia Fundo de Investimento em Direitos Creditórios [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Aetos Energia Fundo de Investimento em Direitos Creditórios
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%
Consignado Público XP Fundo de Investimento em Direitos Creditórios [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Consignado Público XP Fundo de Investimento em Direitos Creditórios
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%
SMF Fundo de Investimento Multimercado Crédito Privado [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	SMF Fundo de Investimento Multimercado Crédito Privado
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%
MM Macadâmia FIM CP IE [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	MM Macadâmia FIM CP IE (ii)
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	0%	0%
MM Hedge Icon [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	MM Hedge Icon (ii)
Country of incorporation	Nassau
Principal activities	Investment fund
Percent of group's interest	99.37%	0%	0%
Suécia I Fundo de Investimento Multimercado [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Suécia I Fundo de Investimento Multimercado (ii)
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	0%	0%
Suécia II Fundo de Investimento Multimercado [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Suécia II Fundo de Investimento Multimercado (ii)
Country of incorporation	Brazil
Principal activities	Investment fund
Percent of group's interest	100%	0%	0%

Group structure - Summary of in

Group structure - Summary of intangible assets acquired (Details) - Banco Modal S.A. - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Jul. 01, 2023
Disclosure of subsidiaries [line items]
Identifiable intangible assets recognised as of acquisition date	R$ 389950	R$ 67663
Retail client portfolio
Disclosure of subsidiaries [line items]
Identifiable intangible assets recognised as of acquisition date	R$ 169828
Intangible Assets Acquired Valuation Method	Multi-Period Excess Earnings
Intangible Assets Acquired Amortization Period	6 years 11 months
Institutional Client portfolio
Disclosure of subsidiaries [line items]
Identifiable intangible assets recognised as of acquisition date	R$ 51629
Intangible Assets Acquired Valuation Method	Multi-Period Excess Earnings
Intangible Assets Acquired Amortization Period	4 years 6 months
Core Deposits
Disclosure of subsidiaries [line items]
Identifiable intangible assets recognised as of acquisition date	R$ 134273	134,273
Intangible Assets Acquired Valuation Method	With and Without
Intangible Assets Acquired Amortization Period	9 years 6 months
Trademarks
Disclosure of subsidiaries [line items]
Identifiable intangible assets recognised as of acquisition date	R$ 29909	29,909
Intangible Assets Acquired Valuation Method	Relief-from-Royalty
Intangible Assets Acquired Amortization Period	5 years
Software
Disclosure of subsidiaries [line items]
Identifiable intangible assets recognised as of acquisition date	R$ 4311	R$ 4311
Intangible Assets Acquired Valuation Method	Cost Approach
Intangible Assets Acquired Amortization Period	5 years

Group structure - Summary of fa

Group structure - Summary of fair value of the identifiable assets acquired and liabilities (Details)		6 Months Ended	12 Months Ended
	Jul. 01, 2023 BRL (R$)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2022 BRL (R$)	Dec. 31, 2021 BRL (R$)	Jul. 10, 2023 $ / shares	Oct. 03, 2022 BRL (R$)	Aug. 15, 2022	Feb. 25, 2022	Jan. 06, 2022 BRL (R$) R$ / shares shares
Disclosure of subsidiaries [line items]
Proceeds from SPAC issuance of shares			R$ 0	R$ 0	R$ 1134797000
Equity (iv)			268,015,000
Habitat Capital Partners
Disclosure of subsidiaries [line items]
Cash on subsidiaries		R$ 275000	275,000
Financial Assets At Amortized Cost Accounts Receivable On Subsidiaries		4,977,000	4,977,000
Securities on Subsidiaries		240,000	240,000
Property and equipment on subsidiaries		251,000	251,000
Other assets on subsidiaries		1,063,000	1,063,000
Total assets on subsidiaries		6,806,000	6,806,000
Taxes and social security obligations on subsidiaries		(1,424,000)	(1,424,000)
Other liabilities on subsidiaries		(66,000)	(66,000)
Total identifiable net assets at fair value on subsidiaries		5,316,000	5,316,000
Goodwill arising on acquisition of subsidiaries	R$ 60037000
Contingent consideration of subsidiaries	12,937,000
Purchase consideration transferred of subsidiaries		65,353,000	65,353,000
Subsidiary acquisition percentage									100%
Amount paid for the acquision of the subsidiary to date	52,416,000
BTR Administração e Corretagem de Seguros S.A.
Disclosure of subsidiaries [line items]
Subsidiary acquisition percentage								100%
Purchase consideration transferred							R$ 1254000
XPAC Acquisition Corp.
Disclosure of subsidiaries [line items]
Business Acquisition per share price \| $ / shares						$ 250
XPAC Acquisition Corp. \| Class B Common Shares
Disclosure of subsidiaries [line items]
Equity interests of issuer (in shares)						4,400,283
XPAC Acquisition Corp. \| Private placement warrants
Disclosure of subsidiaries [line items]
Equity interests of issuer (in shares)						4,261,485,000
XPAC Acquisition Corp. \| Class A ordinary Shares
Disclosure of subsidiaries [line items]
Equity interests of issuer (in shares)						4,261,485,000
Banco Modal S.A.
Disclosure of subsidiaries [line items]
Cash on subsidiaries	770,887,000
Financial Assets At Amortized Cost Accounts Receivable On Subsidiaries	4,295,122,000
Securities on Subsidiaries	765,000
Property and equipment on subsidiaries	39,532,000
Total identified assets	864,779,000
Identifiable intangible assets recognised as of acquisition date	67,663,000	389,950,000	389,950,000
Other assets on subsidiaries	751,682,000
Total assets on subsidiaries	5,925,651,000
Financial liabilities recognised as of acquisition date	4,667,146,000
Other liabilities on subsidiaries	(783,675,000)
Total Financial liabilities recognized as of acquisition date	5,450,821,000
Total identifiable net assets at fair value on subsidiaries	474,829,000
Goodwill arising on acquisition of subsidiaries	1,232,547,000									R$ 1232547000
Purchase consideration transferred of subsidiaries	2,097,326,000
Fair value of Identified assets	(864,779,000)
Cash Acquired From Acquisition	770,887,000
Acquisition of subsidiaries, net cash acquired on subsidiaries	770,887,000
Additional amount paid for the installment referring to the acquired subsidiary										82,052,000
Purchase consideration transferred										R$ 2097326000
Percentage of voting equity interests acquired										100%
Number of Issued shares acquired \| shares										704,200,000
Equity interests of issuer (in shares)										18,717,771
Business Acquisition per share price \| R$ / shares										R$ 112.05
Equity interests of acquirer										R$ 19500000
Revenue of acquiree since acquisition date		343,258,000
Profit (loss) of acquiree since acquisition date		93,611,000
Revenue of combined entity as if combination occurred at beginning of period			14,896,966,000
Profit (loss) of combined entity as if combination occurred at beginning of period			3,595,461,000
Banco Modal S.A. \| Client Portfolios [Member]
Disclosure of subsidiaries [line items]
Identifiable intangible assets recognised as of acquisition date	221,457,000
Banco Modal S.A. \| Core Deposits
Disclosure of subsidiaries [line items]
Identifiable intangible assets recognised as of acquisition date	134,273,000	134,273,000	134,273,000
Banco Modal S.A. \| Trademarks
Disclosure of subsidiaries [line items]
Identifiable intangible assets recognised as of acquisition date	29,909,000	29,909,000	29,909,000
Banco Modal S.A. \| Software
Disclosure of subsidiaries [line items]
Identifiable intangible assets recognised as of acquisition date	R$ 4311000	4,311,000	4,311,000
Monte Bravo Holding JV S.A. And Blue3 S.A.And Ctrl+e Participações Ltda. [Member]
Disclosure of subsidiaries [line items]
Goodwill arising on acquisition of subsidiaries		537,671,000	537,671,000
Purchase consideration transferred of subsidiaries		834,743,000	834,743,000
Amount paid for the acquision of the subsidiary to date		R$ 45000000	R$ 45000000

Securities purchased (sold) u_3

Securities purchased (sold) under resale (repurchase) agreements - Summary of securities purchased under agreements to resell (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Expected credit loss	R$ 2803	R$ 2681
Securities purchased under agreements to resell	R$ 14888978	R$ 7603820
Investments in purchase and sale commitments, interest rate	1,185%	13.65%
Available portfolio
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	R$ 3891759	R$ 834975
Securities purchased under agreements to resell	2,760,296	646,478
Available portfolio \| National Treasury Notes
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	2,013,366	645,188
Available portfolio \| National Treasury Bills
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	820,487	0
Available portfolio \| Debentures
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	89,234	84,065
Available portfolio \| Real Estate Receivable Certificates
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	80,565	82,633
Available portfolio \| Financial credit bills
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	88,690	23,089
Available portfolio \| Financial Treasury Bills
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	799,417	0
Collateral held
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	11,000,022	6,771,526
Collateral held \| National Treasury Notes
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	116,583	2,842,159
Collateral held \| National Treasury Bills
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	2,416,143	227,713
Collateral held \| Debentures
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	4,258,213	929,346
Collateral held \| Real Estate Receivable Certificates
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	2,436,462	2,019,639
Collateral held \| Agribusiness Receivables Certificates (CRAs) (ii)
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	459,896	101,091
Collateral held \| Agribusiness Credit Bill (LCAs) (ii)
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	0	171,730
Collateral held \| Other
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	107,908	479,848
Collateral held \| Financial Treasury Bills
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	900,245	0
Collateral held \| Interbank Deposits Certificates [Member]
Summary of Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	R$ 304572	R$ 0

Securities purchased (sold) u_4

Securities purchased (sold) under resale (repurchase) agreements - Additional information (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Securities purchased sold under resale repurchase agreements [Abstract]
Securities purchased under agreements to resell presented as cash equivalents	R$ 2760296	R$ 646478	R$ 1071328
Securities sold under repurchase agreements, interest rate	1,091%	13.65%

Securities purchased (sold) u_5

Securities purchased (sold) under resale (repurchase) agreements - Securities sold under repurchase agreements (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	R$ 33340511	R$ 31790091
Securities purchased under agreements to resell	14,888,978	7,603,820
Available portfolio
Securities Purchased Under Agreements to Resell [Line Items]
Securities purchased under agreements to resell	2,760,296	646,478
National Treasury Bills
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	3,274,568	8,569,145
National Treasury Notes
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	8,456,861	12,347,218
Financial Treasury Bills
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	1,867,365	533,509
Debentures
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	8,776,735	1,831,846
Real Estate Receivable Certificates
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	9,201,853	6,471,410
Financial credit bills
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	954,447	1,111,890
Agribusiness Receivables Certificates (CRAs) (ii)
Securities Purchased Under Agreements to Resell [Line Items]
Securities sold under repurchase agreements	R$ 808682	R$ 925073

Securities - Summary of Securit

Securities - Summary of Securities Classified at Fair Value Through Profit or Loss (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of financial assets [line items]
Securities	R$ 103282212	R$ 87513004
Interbank certificate deposits	67,985	252,877	R$ 194892
Investment contracts with legal form of retirement plans	202,678	183,732
Bank deposit certificates
Disclosure of financial assets [line items]
Interbank certificate deposits	252,877	67,985
Gross carrying amount
Disclosure of financial assets [line items]
Securities	102,381,532	87,449,816
Gross carrying amount \| Available portfolio
Disclosure of financial assets [line items]
Securities	102,381,532	86,273,732
Gross carrying amount \| Brazilian onshore sovereign bonds
Disclosure of financial assets [line items]
Securities	29,587,276	25,262,407
Gross carrying amount \| Investment funds
Disclosure of financial assets [line items]
Securities	55,922,364	42,274,069
Gross carrying amount \| Stocks issued by public-held company
Disclosure of financial assets [line items]
Securities	3,981,237	5,494,957
Gross carrying amount \| Debentures
Disclosure of financial assets [line items]
Securities	4,642,827	5,013,524
Gross carrying amount \| Structured notes
Disclosure of financial assets [line items]
Securities	90,876	243,790
Gross carrying amount \| Bank deposit certificates
Disclosure of financial assets [line items]
Securities	756,066	525,778
Gross carrying amount \| Agribusiness receivables certificates
Disclosure of financial assets [line items]
Securities	1,132,479	1,998,287
Gross carrying amount \| Real estate receivable certificates
Disclosure of financial assets [line items]
Securities	1,843,651	1,799,625
Gross carrying amount \| Financial credit bills
Disclosure of financial assets [line items]
Securities	435,425	663,589
Gross carrying amount \| Real estate credit bill
Disclosure of financial assets [line items]
Securities	29,126	2,299,236
Gross carrying amount \| Agribusiness credit bills [Member]
Disclosure of financial assets [line items]
Securities	101,796	254,300
Gross carrying amount \| Commercial notes
Disclosure of financial assets [line items]
Securities	803,256	64,568
Gross carrying amount \| Others
Disclosure of financial assets [line items]
Securities	3,055,153	379,602
Gross carrying amount \| Investments held in trust accounts
Disclosure of financial assets [line items]
Securities	0	1,176,084
Gross carrying amount \| Us government bonds
Disclosure of financial assets [line items]
Securities	0	1,176,084
Fair value
Disclosure of financial assets [line items]
Securities	103,282,212	87,513,004
Fair value \| Available portfolio
Disclosure of financial assets [line items]
Securities	103,282,212	86,336,920
Fair value \| Brazilian onshore sovereign bonds
Disclosure of financial assets [line items]
Securities	30,172,040	25,127,998
Fair value \| Investment funds
Disclosure of financial assets [line items]
Securities	55,922,364	42,274,069
Fair value \| Stocks issued by public-held company
Disclosure of financial assets [line items]
Securities	3,981,237	5,494,957
Fair value \| Debentures
Disclosure of financial assets [line items]
Securities	4,575,326	4,990,882
Fair value \| Structured notes
Disclosure of financial assets [line items]
Securities	113,816	285,560
Fair value \| Bank deposit certificates
Disclosure of financial assets [line items]
Securities	765,741	541,294
Fair value \| Agribusiness receivables certificates
Disclosure of financial assets [line items]
Securities	1,200,254	1,984,686
Fair value \| Real estate receivable certificates
Disclosure of financial assets [line items]
Securities	1,924,269	1,803,111
Fair value \| Financial credit bills
Disclosure of financial assets [line items]
Securities	469,943	738,028
Fair value \| Real estate credit bill
Disclosure of financial assets [line items]
Securities	29,157	2,302,124
Fair value \| Agribusiness credit bills [Member]
Disclosure of financial assets [line items]
Securities	103,541	256,129
Fair value \| Commercial notes
Disclosure of financial assets [line items]
Securities	892,569	65,837
Fair value \| Others
Disclosure of financial assets [line items]
Securities	3,131,955	472,245
Fair value \| Investments held in trust accounts
Disclosure of financial assets [line items]
Securities	0	1,176,084
Fair value \| Us government bonds
Disclosure of financial assets [line items]
Securities	0	1,176,084
Group portfolio
Disclosure of financial assets [line items]
Securities	46,930,511	41,824,379
Group portfolio \| Available portfolio
Disclosure of financial assets [line items]
Securities	46,930,511	40,648,295
Group portfolio \| Brazilian onshore sovereign bonds
Disclosure of financial assets [line items]
Securities	28,000,854	22,799,302
Group portfolio \| Investment funds
Disclosure of financial assets [line items]
Securities	3,022,360	2,389,131
Group portfolio \| Stocks issued by public-held company
Disclosure of financial assets [line items]
Securities	3,642,365	5,155,761
Group portfolio \| Debentures
Disclosure of financial assets [line items]
Securities	4,133,285	2,768,843
Group portfolio \| Structured notes
Disclosure of financial assets [line items]
Securities	113,816	285,560
Group portfolio \| Bank deposit certificates
Disclosure of financial assets [line items]
Securities	663,985	523,859
Group portfolio \| Agribusiness receivables certificates
Disclosure of financial assets [line items]
Securities	1,183,214	1,964,977
Group portfolio \| Real estate receivable certificates
Disclosure of financial assets [line items]
Securities	1,921,927	1,800,671
Group portfolio \| Financial credit bills
Disclosure of financial assets [line items]
Securities	153,994	16,981
Group portfolio \| Real estate credit bill
Disclosure of financial assets [line items]
Securities	29,157	2,302,124
Group portfolio \| Agribusiness credit bills [Member]
Disclosure of financial assets [line items]
Securities	103,541	256,129
Group portfolio \| Commercial notes
Disclosure of financial assets [line items]
Securities	886,149	10,517
Group portfolio \| Others
Disclosure of financial assets [line items]
Securities	3,075,864	374,440
Group portfolio \| Investments held in trust accounts
Disclosure of financial assets [line items]
Securities	0	1,176,084
Group portfolio \| Us government bonds
Disclosure of financial assets [line items]
Securities	0	1,176,084
Retirement plan assets (i)
Disclosure of financial assets [line items]
Securities	56,351,701	45,688,625
Retirement plan assets (i) \| Available portfolio
Disclosure of financial assets [line items]
Securities	56,351,701	45,688,625
Retirement plan assets (i) \| Brazilian onshore sovereign bonds
Disclosure of financial assets [line items]
Securities	2,171,186	2,328,696
Retirement plan assets (i) \| Investment funds
Disclosure of financial assets [line items]
Securities	52,900,004	39,884,938
Retirement plan assets (i) \| Stocks issued by public-held company
Disclosure of financial assets [line items]
Securities	338,872	339,196
Retirement plan assets (i) \| Debentures
Disclosure of financial assets [line items]
Securities	442,041	2,222,039
Retirement plan assets (i) \| Structured notes
Disclosure of financial assets [line items]
Securities	0	0
Retirement plan assets (i) \| Bank deposit certificates
Disclosure of financial assets [line items]
Securities	101,756	17,435
Retirement plan assets (i) \| Agribusiness receivables certificates
Disclosure of financial assets [line items]
Securities	17,040	19,709
Retirement plan assets (i) \| Real estate receivable certificates
Disclosure of financial assets [line items]
Securities	2,342	2,440
Retirement plan assets (i) \| Financial credit bills
Disclosure of financial assets [line items]
Securities	315,949	721,047
Retirement plan assets (i) \| Real estate credit bill
Disclosure of financial assets [line items]
Securities	0	0
Retirement plan assets (i) \| Agribusiness credit bills [Member]
Disclosure of financial assets [line items]
Securities	0	0
Retirement plan assets (i) \| Commercial notes
Disclosure of financial assets [line items]
Securities	6,420	55,320
Retirement plan assets (i) \| Others
Disclosure of financial assets [line items]
Securities	56,091	97,805
Retirement plan assets (i) \| Investments held in trust accounts
Disclosure of financial assets [line items]
Securities	0	0
Retirement plan assets (i) \| Us government bonds
Disclosure of financial assets [line items]
Securities	R$ 0	R$ 0

Securities - Summary of Secur_2

Securities - Summary of Securities at Fair Value Through Other Comprehensive Income (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets [line items]
Fair value through other comprehensive income	R$ 44062950	R$ 34478668
Gross carrying amount
Disclosure of financial assets [line items]
Fair value through other comprehensive income	43,693,837	35,150,599
Fair value
Disclosure of financial assets [line items]
Fair value through other comprehensive income	44,062,950	34,478,668
National Treasury Bills \| Gross carrying amount
Disclosure of financial assets [line items]
Fair value through other comprehensive income	41,023,844	33,532,740
National Treasury Bills \| Fair value
Disclosure of financial assets [line items]
Fair value through other comprehensive income	41,343,987	32,931,403
Bonds \| Gross carrying amount
Disclosure of financial assets [line items]
Fair value through other comprehensive income	0	1,379,129
Bonds \| Fair value
Disclosure of financial assets [line items]
Fair value through other comprehensive income	0	1,321,258
Foreign sovereign bonds \| Gross carrying amount
Disclosure of financial assets [line items]
Fair value through other comprehensive income	2,669,993	0
Foreign sovereign bonds \| Fair value
Disclosure of financial assets [line items]
Fair value through other comprehensive income	2,718,963	0
Corporate bonds \| Gross carrying amount
Disclosure of financial assets [line items]
Fair value through other comprehensive income	0	238,730
Corporate bonds \| Fair value
Disclosure of financial assets [line items]
Fair value through other comprehensive income	R$ 0	R$ 226007

Securities - Summary of Secur_3

Securities - Summary of Securities Evaluated at Amortized Cost (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of financial assets [line items]
Financial assets at amortized cost	R$ 6855421	R$ 9272103
Expected credit losses	360,859	94,159	R$ 92560
Bonds
Disclosure of financial assets [line items]
Expected credit losses	6,072	2,924
Gross carrying amount
Disclosure of financial assets [line items]
Financial assets at amortized cost	6,861,493	9,275,027
Gross carrying amount \| Brazilian onshore sovereign bonds
Disclosure of financial assets [line items]
Financial assets at amortized cost	3,773,404	5,835,971
Gross carrying amount \| Bonds
Disclosure of financial assets [line items]
Financial assets at amortized cost	0	1,743,688
Gross carrying amount \| Rural product note
Disclosure of financial assets [line items]
Financial assets at amortized cost	616,083	507,131
Gross carrying amount \| Commercial notes
Disclosure of financial assets [line items]
Financial assets at amortized cost	2,472,006	1,188,237
Book value [Member]
Disclosure of financial assets [line items]
Financial assets at amortized cost	6,855,421	9,272,103
Book value [Member] \| Brazilian onshore sovereign bonds
Disclosure of financial assets [line items]
Financial assets at amortized cost	3,772,534	5,834,628
Book value [Member] \| Bonds
Disclosure of financial assets [line items]
Financial assets at amortized cost	0	1,742,311
Book value [Member] \| Rural product note
Disclosure of financial assets [line items]
Financial assets at amortized cost	615,576	506,927
Book value [Member] \| Commercial notes
Disclosure of financial assets [line items]
Financial assets at amortized cost	R$ 2467311	R$ 1188237

Securities - Summary of Secur_4

Securities - Summary of Securities on the Financial Liabilities Classified at Fair Value Through Profit or Loss (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	May 06, 2021
Disclosure of financial assets [line items]
Financial liabilities	R$ 171237146	R$ 127708578
Debentures issued	2,212,441	2,028,681
XP Investimentos Non-Convertible Debentures \| Debentures
Disclosure of financial assets [line items]
Debentures issued			R$ 500018
Interest rate			500%
Gross carrying amount \| Debentures
Disclosure of financial assets [line items]
Financial liabilities, at fair value	594,332
Gross carrying amount \| Financial liabilities at fair value through profit or loss \| Securities loaned
Disclosure of financial assets [line items]
Financial liabilities	19,949,021	13,048,246
Gross carrying amount \| Financial liabilities at fair value through profit or loss \| Debentures
Disclosure of financial assets [line items]
Financial liabilities	594,332	567,838
Fair value \| Debentures
Disclosure of financial assets [line items]
Financial liabilities, at fair value	474,053
Fair value \| Financial liabilities at fair value through profit or loss \| Securities loaned
Disclosure of financial assets [line items]
Financial liabilities, at fair value	19,949,021	13,048,246
Fair value \| Financial liabilities at fair value through profit or loss \| Debentures
Disclosure of financial assets [line items]
Financial liabilities, at fair value	474,053	R$ 481019
Fair value/(under) contractual principal outstanding \| Debentures
Disclosure of financial assets [line items]
Financial liabilities, at fair value	R$ 120279

Securities - Summary of Secur_5

Securities - Summary of Securities Classified by Maturity (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Financial assets	R$ 229197214	R$ 177681987
Financial liabilities	171,237,146	127,708,578
At fair value through PL and at OCI \| Liabilities
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	19,949,021	13,048,246
Non-current financial liabilities	474,053	481,019
Evaluated at amortized cost \| Liabilities
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	0	0
Non-current financial liabilities	0	0
Non-stated maturity \| At fair value through PL and at OCI \| Liabilities
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	19,949,021	13,048,246
Up to 3 months \| At fair value through PL and at OCI \| Liabilities
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	0	0
Up to 3 months \| Evaluated at amortized cost \| Liabilities
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	0	0
From 4 to 12 months
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	24,241,755	14,555,827
From 4 to 12 months \| At fair value through PL and at OCI \| Liabilities
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	0	0
From 4 to 12 months \| Evaluated at amortized cost \| Liabilities
Disclosure of detailed information about financial instruments [line items]
Current financial liabilities	0	0
After one year \| At fair value through PL and at OCI \| Liabilities
Disclosure of detailed information about financial instruments [line items]
Non-current financial liabilities	474,053	481,019
After one year \| Evaluated at amortized cost \| Liabilities
Disclosure of detailed information about financial instruments [line items]
Non-current financial liabilities	0	0
At fair value through PL and at OCI \| Assets
Disclosure of detailed information about financial instruments [line items]
Current financial assets	74,520,326	73,569,049
Non-current financial assets	72,824,836	48,422,623
At fair value through PL and at OCI \| Non-stated maturity \| Assets
Disclosure of detailed information about financial instruments [line items]
Current financial assets	47,996,237	49,001,359
At fair value through PL and at OCI \| Up to 3 months \| Assets
Disclosure of detailed information about financial instruments [line items]
Current financial assets	18,207,233	18,739,708
At fair value through PL and at OCI \| From 4 to 12 months \| Assets
Disclosure of detailed information about financial instruments [line items]
Current financial assets	8,316,856	5,827,982
At fair value through PL and at OCI \| After one year \| Assets
Disclosure of detailed information about financial instruments [line items]
Non-current financial assets	72,824,836	48,422,623
Evaluated at amortized cost \| Assets
Disclosure of detailed information about financial instruments [line items]
Current financial assets	4,560,263	7,952,328
Non-current financial assets	2,295,158	1,319,775
Evaluated at amortized cost \| Up to 3 months \| Assets
Disclosure of detailed information about financial instruments [line items]
Current financial assets	2,015,126	3,327,313
Evaluated at amortized cost \| From 4 to 12 months \| Assets
Disclosure of detailed information about financial instruments [line items]
Current financial assets	2,545,137	4,625,015
Evaluated at amortized cost \| After one year \| Assets
Disclosure of detailed information about financial instruments [line items]
Non-current financial assets	2,295,158	1,319,775
Fair value \| Assets
Disclosure of detailed information about financial instruments [line items]
Financial assets	154,200,583	131,263,775
Fair value \| Liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	R$ 20423074	R$ 13529265

Derivative financial instrume_3

Derivative financial instruments - Summary of derivative financial instruments portfolio (assets and liabilities) by type of instrument (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	R$ 3579124453	R$ 1337200771
Assets, fair value	R$ 23733466	R$ 9217155
Percentage of derivative financial assets	10,000%	10,000%
Liabilities, notional amount	R$ 3105052651	R$ 1019527567
Liabilities, fair value	R$ 24785416	R$ 8605409
Percentage of derivative financial liabilities	10,000%	10,000%
Options
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	R$ 2308283883	R$ 852098826
Liabilities, fair value	R$ 17970099	R$ 7086946
Percentage of derivative financial liabilities	7,400%	8,400%
Swap contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	R$ 403391373	R$ 140039765
Liabilities, fair value	R$ 3448067	R$ 161574
Percentage of derivative financial liabilities	1,300%	1,400%
Forward contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	R$ 82074317	R$ 13755838
Liabilities, fair value	R$ 2705166	R$ 839421
Percentage of derivative financial liabilities	300%	100%
Future contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	R$ 311303078	R$ 13548954
Liabilities, fair value	R$ 662084	R$ 511167
Percentage of derivative financial liabilities	1,000%	100%
Others
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount		R$ 84184
Liabilities, fair value		R$ 6301
Percentage of derivative financial liabilities		0%
Options
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	R$ 3053641595	R$ 34679065
Assets, fair value	R$ 15982949	R$ 296249
Percentage of derivative financial assets	8,500%	300%
Swap contracts
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	R$ 392133687	R$ 1253758408
Assets, fair value	R$ 3883112	R$ 5542340
Percentage of derivative financial assets	1,100%	9,400%
Forward contracts
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	R$ 125343466	R$ 32705136
Assets, fair value	R$ 2889964	R$ 2828613
Percentage of derivative financial assets	300%	200%
Future contracts
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	R$ 8005705	R$ 16058162
Assets, fair value	R$ 977441	R$ 549953
Percentage of derivative financial assets	100%	100%
Up to 3 months
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	R$ 9963173	R$ 1698436
Liabilities, fair value	8,300,317	1,642,355
Up to 3 months \| Options
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	5,996,813	1,387,988
Up to 3 months \| Swap contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	56,590	53,421
Up to 3 months \| Forward contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	2,216,996	44,526
Up to 3 months \| Future contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	29,918	150,119
Up to 3 months \| Others
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value		6,301
Up to 3 months \| Options
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	6,240,115	73,621
Up to 3 months \| Swap contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	381,744	1,209,290
Up to 3 months \| Forward contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	2,508,142	62,729
Up to 3 months \| Future contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	833,172	352,796
From 4 to 12 months
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	7,342,323	2,636,377
Liabilities, fair value	6,773,980	2,340,407
From 4 to 12 months \| Options
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	5,601,569	1,781,457
From 4 to 12 months \| Swap contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	842,922	72,349
From 4 to 12 months \| Forward contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	250,030	261,669
From 4 to 12 months \| Future contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	79,459	224,932
From 4 to 12 months \| Others
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value		0
From 4 to 12 months \| Options
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	6,455,786	222,628
From 4 to 12 months \| Swap contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	531,023	1,931,618
From 4 to 12 months \| Forward contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	250,756	350,012
From 4 to 12 months \| Future contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	104,758	132,119
Above 12 months
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	6,427,970	4,882,342
Liabilities, fair value	9,711,119	4,622,647
Above 12 months \| Options
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	6,371,717	3,917,501
Above 12 months \| Swap contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	2,548,555	35,804
Above 12 months \| Forward contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	238,140	533,226
Above 12 months \| Future contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value	552,707	136,116
Above 12 months \| Others
Disclosure of detailed information about financial instruments [line items]
Liabilities, fair value		0
Above 12 months \| Options
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	3,287,048	0
Above 12 months \| Swap contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	2,970,345	2,401,432
Above 12 months \| Forward contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	131,066	2,415,872
Above 12 months \| Future contracts
Disclosure of detailed information about financial instruments [line items]
Assets, fair value	R$ 39511	R$ 65038

Derivative financial instrume_4

Derivative financial instruments - Summary of derivative financial instruments by index (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	R$ 3579124453	R$ 1337200771
Assets, fair value	23,733,466	9,217,155
Liabilities, notional amount	3,105,052,651	1,019,527,567
Liabilities, fair value	(24,785,416)	(8,605,409)
Net, fair value	(1,051,950)	611,746
Swap Contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	403,391,373	140,039,765
Liabilities, fair value	(3,448,067)	(161,574)
Swap Contracts \| Interest
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	403,391,373	13,106,906
Liabilities, fair value	(3,448,067)	(630,539)
Swap Contracts \| Foreign exchange
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	0	648,932
Liabilities, fair value	0	(208,882)
Forward Contracts
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	82,074,317	13,755,838
Liabilities, fair value	(2,705,166)	(839,421)
Forward Contracts \| Interest
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	21,686,959	0
Liabilities, fair value	(1,945,473)	0
Forward Contracts \| Foreign exchange
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	60,387,358	13,548,954
Liabilities, fair value	(759,693)	(511,167)
Others \| Interest
Disclosure of detailed information about financial instruments [line items]
Liabilities, notional amount	0	84,184
Liabilities, fair value	0	(6,301)
Swap Contracts
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	392,133,687	1,253,758,408
Assets, fair value	3,883,112	5,542,340
Swap Contracts \| Interest
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	367,589,959	20,616,960
Assets, fair value	1,863,359	739,698
Swap Contracts \| Foreign exchange
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	6,446,652	1,647,089
Assets, fair value	611,709	15,906
Swap Contracts \| Share
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	17,870,871	10,302,018
Assets, fair value	1,363,195	2,054,430
Swap Contracts \| Commodities
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	226,205	139,069
Assets, fair value	44,849	18,579
Forward Contracts
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	125,343,466	32,705,136
Assets, fair value	2,889,964	2,828,613
Forward Contracts \| Interest
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	24,577,713	233,977
Assets, fair value	2,548,129	30,126
Forward Contracts \| Foreign exchange
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	100,765,753	15,516,883
Assets, fair value	341,835	213,311
Forward Contracts \| Share
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	0	305,614
Assets, fair value	0	306,516
Forward Contracts \| Commodities
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	0	1,688
Assets, fair value	0	0
Future Contracts
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	8,005,705	16,058,162
Assets, fair value	977,441	549,953
Future Contracts \| Interest \| Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	4,887,109	26,020,396
Assets, fair value	972,355	291,057
Future Contracts \| Interest \| Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	35,365,170	111,237,614
Assets, fair value	(560,676)	(111,009)
Future Contracts \| Foreign exchange \| Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	387,663	6,041,572
Assets, fair value	908	1,182
Future Contracts \| Foreign exchange \| Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	43,572	25,134,918
Assets, fair value	(131)	(20,290)
Future Contracts \| Share \| Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	3,520	180,720
Assets, fair value	0	0
Future Contracts \| Share \| Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	274,874,389	3,006,462
Assets, fair value	(99,779)	(23,268)
Future Contracts \| Commodities \| Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	2,727,413	2,436,377
Assets, fair value	4,178	4,010
Future Contracts \| Commodities \| Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	1,019,947	660,771
Assets, fair value	(1,498)	(7,007)
Options
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	3,053,641,595	34,679,065
Assets, fair value	15,982,949	296,249
Options \| Interest \| Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	3,019,606,208	544,855,750
Assets, fair value	15,593,786	1,681,487
Options \| Interest \| Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	2,278,678,906	590,924,462
Assets, fair value	(13,820,730)	(1,223,999)
Options \| Foreign exchange \| Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	14,346,184	237,680,984
Assets, fair value	520	1,352,521
Options \| Foreign exchange \| Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	9,308,549	234,719,499
Assets, fair value	(123,346)	(1,504,068)
Options \| Share \| Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	18,780,035	462,926,358
Assets, fair value	385,921	2,394,104
Options \| Share \| Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	20,296,428	26,017,420
Assets, fair value	(4,026,023)	(4,245,924)
Options \| Commodities \| Purchase commitments
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	909,168	8,295,316
Assets, fair value	2,722	114,228
Options \| Commodities \| Commitments to sell
Disclosure of detailed information about financial instruments [line items]
Assets, notional amount	0	437,445
Assets, fair value	R$ 0	R$ 112956

Hedge accounting - Summary of d

Hedge accounting - Summary of detailed information about hedging instruments (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about hedged items [line items]
Notional value	R$ 20967989	R$ 18563230	R$ 9738021
Variation in the amounts used to calculate hedge ineffectiveness	34,603	17,252	(18,758)
Hedge of net investment in foreign operations
Disclosure of detailed information about hedged items [line items]
Assets	450,853	395,594	310,069
Liabilities	0	0	0
Variation in value recognized in Other comprehensive income	(34,603)	(17,281)	19,474
Notional value	446,442	414,043	440,022
Variation in the amounts used to calculate hedge ineffectiveness	41,235	18,480	(18,758)
Fair value hedge
Disclosure of detailed information about hedged items [line items]
Notional value	20,082,782	17,887,369	9,297,999
Cash flow hedges
Disclosure of detailed information about hedged items [line items]
Notional value	438,765	261,818	0
Foreign exchange risk \| Hedge of net investment in foreign operations
Disclosure of detailed information about hedged items [line items]
Assets	450,853	395,594	310,069
Liabilities	0	0	0
Variation in value recognized in Other comprehensive income	(34,603)	(17,281)	19,474
Notional value	446,442	414,043	440,022
Variation in the amounts used to calculate hedge ineffectiveness	41,235	18,480	R$ 18758
Foreign exchange risk \| Fair value hedge \| Futures contract [member]
Disclosure of detailed information about hedged items [line items]
Assets	450,853	395,594
Liabilities	239,472	319,715
Notional value	670,007	697,227
Variation in the amounts used to calculate hedge ineffectiveness	26,171	(23,903)
Hedge ineffectiveness recognized in income	1,449	(2,825)
Interest rate and foreign exchange risk \| Fair value hedge
Disclosure of detailed information about hedged items [line items]
Assets	0	3,589,909
Liabilities	20,135,697	14,538,258
Notional value	20,082,782	17,887,369
Variation in value recognized in income	(684,961)	887,138
Variation in the amounts used to calculate hedge ineffectiveness	659,971	(932,486)
Interest rate and foreign exchange risk \| Fair value hedge \| Structured notes
Disclosure of detailed information about hedged items [line items]
Assets	0	0
Liabilities	16,593,439	10,648,559
Notional value	16,702,984	10,663,672
Variation in value recognized in income	(816,142)	726,798
Variation in the amounts used to calculate hedge ineffectiveness	849,160	(734,656)
Interest rate and foreign exchange risk \| Fair value hedge \| Issued bonds
Disclosure of detailed information about hedged items [line items]
Assets	0	0
Liabilities	3,542,258	3,889,699
Notional value	3,379,798	3,646,613
Variation in value recognized in income	131,181	323,881
Variation in the amounts used to calculate hedge ineffectiveness	(189,189)	(362,994)
Interest rate and foreign exchange risk \| Fair value hedge \| Fixed income bonds
Disclosure of detailed information about hedged items [line items]
Assets		3,589,909
Liabilities		0
Notional value		3,577,084
Variation in value recognized in income		(163,541)
Variation in the amounts used to calculate hedge ineffectiveness		165,164
Market price risk \| Cash flow hedges
Disclosure of detailed information about hedged items [line items]
Assets	0	0
Liabilities	414,315	262,756
Variation in value recognized in Other comprehensive income	(59,517)	346,900
Notional value	438,765	261,818
Variation in the amounts used to calculate hedge ineffectiveness	70,906	(348,248)
Market price risk \| Cash flow hedges \| Long term incentive plan taxes [Member]
Disclosure of detailed information about hedged items [line items]
Assets	0	0
Liabilities	414,315	262,756
Variation in value recognized in Other comprehensive income	(59,517)	346,900
Notional value	438,765	261,818
Variation in the amounts used to calculate hedge ineffectiveness	70,906	(348,248)
Market price risk \| Cash flow hedges \| Swap contract [member]
Disclosure of detailed information about hedged items [line items]
Assets	0	0
Liabilities	414,315	262,756
Notional value	438,765	261,818
Variation in the amounts used to calculate hedge ineffectiveness	70,906	(348,248)
Hedge ineffectiveness recognized in income	11,389	(1,348)
Interest rate risk \| Fair value hedge \| Futures contract [member]
Disclosure of detailed information about hedged items [line items]
Assets	0	3,589,909
Liabilities	19,896,226	14,218,543
Notional value	19,859,217	17,604,185
Variation in the amounts used to calculate hedge ineffectiveness	675,035	(890,103)
Hedge ineffectiveness recognized in income	R$ 19807	R$ 41295

Hedge accounting - Hedged item

Hedge accounting - Hedged item information (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about hedged items [line items]
Notional amount	R$ 20967989	R$ 18563230	R$ 9738021
Fair value adjustments	772,112	(1,262,254)	(513,949)
Book value	(779,081)	1,216,786	525,664
Hedge of fair value
Disclosure of detailed information about hedged items [line items]
Notional amount	20,082,782	17,887,369	9,297,999
Fair value adjustments	659,971	(932,486)	(495,191)
Book value	(684,961)	887,138	506,190
Hedge of net investment in foreign operations
Disclosure of detailed information about hedged items [line items]
Notional amount	446,442	414,043	440,022
Fair value adjustments	41,235	18,480	(18,758)
Book value	(34,603)	(17,252)	19,474
Hedge of cash flow
Disclosure of detailed information about hedged items [line items]
Notional amount	438,765	261,818	0
Fair value adjustments	70,906	(348,248)	0
Book value	R$ 59517	R$ 346900	R$ 0

Hedge accounting - Hedged ite_2

Hedge accounting - Hedged item maturity (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about hedged items [line items]
Notional value	R$ 20967989	R$ 18563230	R$ 9738021
0-1 year
Disclosure of detailed information about hedged items [line items]
Notional value	1,536,589	873,144	520,853
1-2 years
Disclosure of detailed information about hedged items [line items]
Notional value	1,699,201	707,421	276,219
2-3 years
Disclosure of detailed information about hedged items [line items]
Notional value	6,001,602	2,805,418	478,745
3-4 years
Disclosure of detailed information about hedged items [line items]
Notional value	6,920,470	5,913,477	1,028,004
4-5 years
Disclosure of detailed information about hedged items [line items]
Notional value	2,888,836	5,930,291	4,510,125
5-10 years
Disclosure of detailed information about hedged items [line items]
Notional value	1,921,291	2,333,479	2,924,075
Hedge of fair value
Disclosure of detailed information about hedged items [line items]
Notional value	20,082,782	17,887,369	9,297,999
Hedge of fair value \| 0-1 year
Disclosure of detailed information about hedged items [line items]
Notional value	696,906	229,368	136,636
Hedge of fair value \| 1-2 years
Disclosure of detailed information about hedged items [line items]
Notional value	1,653,677	707,421	276,219
Hedge of fair value \| 2-3 years
Disclosure of detailed information about hedged items [line items]
Notional value	6,001,602	2,773,333	478,745
Hedge of fair value \| 3-4 years
Disclosure of detailed information about hedged items [line items]
Notional value	6,920,470	5,913,477	972,199
Hedge of fair value \| 4-5 years
Disclosure of detailed information about hedged items [line items]
Notional value	2,888,836	5,930,291	4,510,125
Hedge of fair value \| 5-10 years
Disclosure of detailed information about hedged items [line items]
Notional value	1,921,291	2,333,479	2,924,075
Hedge of net investment in foreign operations
Disclosure of detailed information about hedged items [line items]
Notional value	446,442	414,043	440,022
Hedge of net investment in foreign operations \| 0-1 year
Disclosure of detailed information about hedged items [line items]
Notional value	400,918	381,958	384,217
Hedge of net investment in foreign operations \| 1-2 years
Disclosure of detailed information about hedged items [line items]
Notional value	45,524	0	0
Hedge of net investment in foreign operations \| 2-3 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	32,085	0
Hedge of net investment in foreign operations \| 3-4 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	0	55,805
Hedge of net investment in foreign operations \| 4-5 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	0	0
Hedge of net investment in foreign operations \| 5-10 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	0	0
Hedge of cash flow
Disclosure of detailed information about hedged items [line items]
Notional value	438,765	261,818	R$ 0
Hedge of cash flow \| 0-1 year
Disclosure of detailed information about hedged items [line items]
Notional value	438,765	261,818
Hedge of cash flow \| 1-2 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	0
Hedge of cash flow \| 2-3 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	0
Hedge of cash flow \| 3-4 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	0
Hedge of cash flow \| 4-5 years
Disclosure of detailed information about hedged items [line items]
Notional value	0	0
Hedge of cash flow \| 5-10 years
Disclosure of detailed information about hedged items [line items]
Notional value	R$ 0	R$ 0

Loan operations - Loan operatio

Loan operations - Loan operations by type (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets [line items]
Financial assets	R$ 229197214	R$ 177681987
Expected Credit Loss	(584,831)	(269,347)
Total loans operations, net of Expected Loss	28,551,935	22,211,161
Loans operations
Disclosure of financial assets [line items]
Financial assets	28,881,889	22,260,538
Expected Credit Loss	(329,954)	(49,377)
Pledged asset loan
Disclosure of financial assets [line items]
Financial assets	24,845,243	20,198,764
Pledged asset loan \| Retail
Disclosure of financial assets [line items]
Financial assets	12,366,330	10,932,086
Pledged asset loan \| Companies
Disclosure of financial assets [line items]
Financial assets	7,054,507	5,311,675
Pledged asset loan \| Credit card
Disclosure of financial assets [line items]
Financial assets	5,424,406	3,955,003
Non-pledged loan
Disclosure of financial assets [line items]
Financial assets	4,036,646	2,061,774
Non-pledged loan \| Retail
Disclosure of financial assets [line items]
Financial assets	764,712	309,468
Non-pledged loan \| Companies
Disclosure of financial assets [line items]
Financial assets	959,898	546,678
Non-pledged loan \| Credit card
Disclosure of financial assets [line items]
Financial assets	R$ 2312036	R$ 1205628

Loan operations - Loan operat_2

Loan operations - Loan operations by maturity (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets [line items]
Financial assets	R$ 229197214	R$ 177681987
Loans operations
Disclosure of financial assets [line items]
Financial assets	28,881,889	22,260,538
Loans operations \| Not LaterThan 1 Day Or More [Member]
Disclosure of financial assets [line items]
Financial assets	329,707	0
Loans operations \| Due in 3 months or less
Disclosure of financial assets [line items]
Financial assets	6,739,145	2,496,982
Loans operations \| Due after 3 months through 12 months
Disclosure of financial assets [line items]
Financial assets	5,056,321	7,211,321
Loans operations \| Due after 12 months
Disclosure of financial assets [line items]
Financial assets	R$ 16756716	R$ 12552235

Loan operations - Loan operat_3

Loan operations - Loan operations by concentration (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets [line items]
Financial assets	R$ 229197214	R$ 177681987
Loans operations
Disclosure of financial assets [line items]
Financial assets	28,881,889	22,260,538
Loans operations \| Largest debtor \| Credit risk
Disclosure of financial assets [line items]
Financial assets	855,607	814,284
Loans operations \| 10 largest debtors \| Credit risk
Disclosure of financial assets [line items]
Financial assets	2,921,734	2,458,714
Loans operations \| 20 largest debtors \| Credit risk
Disclosure of financial assets [line items]
Financial assets	4,058,250	3,241,494
Loans operations \| 50 largest debtors \| Credit risk
Disclosure of financial assets [line items]
Financial assets	5,579,073	4,484,877
Loans operations \| 100 largest debtors \| Credit risk
Disclosure of financial assets [line items]
Financial assets	R$ 6949906	R$ 5615708

Accounts receivable (Details)

Accounts receivable (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Trade and other receivables [abstract]
Customers	R$ 579498	R$ 522117
Dividends and interest receivable on equity capital - Funds	31,779	82,545
Other	133,820	28,011
Expected credit losses on accounts receivable (Note 14)	(63,907)	(34,786)
Total	R$ 681190	R$ 597887

Recoverable taxes (Details)

Recoverable taxes (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	R$ 245214	R$ 163248
Current	245,214	163,248
Non-current	0	0
Prepayments of income taxes (IRPJ and CSLL)
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	192,570	142,708
Contributions over revenue (PIS and COFINS)
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	45,688	19,453
Taxes on service
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	1,859	1,087
Other recoverable taxes
Subclassifications of assets, liabilities and equities [Line Items]
Recoverable taxes	R$ 5097	R$ 0

Prepaid expenses (Details)

Prepaid expenses (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Summary of Prepaid Expenses [Line Items]
Prepaid expenses	R$ 4418263	R$ 4240107
Current	826,107	789,609
Non-current	3,592,156	3,450,498
Commissions and premiums paid in advance
Summary of Prepaid Expenses [Line Items]
Prepaid expenses	4,081,456	3,863,986
Marketing expenses
Summary of Prepaid Expenses [Line Items]
Prepaid expenses	10,687	16,893
Services paid in advance
Summary of Prepaid Expenses [Line Items]
Prepaid expenses	42,331	48,775
Other expenses paid in advance
Summary of Prepaid Expenses [Line Items]
Prepaid expenses	R$ 283789	R$ 310453

Expected Credit Losses on Fin_3

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	R$ 177681987
Financial assets at end of period	229,197,214	R$ 177681987
Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	77,959,473	56,939,843
Acquisition / (Settlements)	22,763,620	21,715,936
Business Combination	1,284,947
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	(2,295,553)	(1,186,760)
Stage 1 to Stage 3	(198,592)	(12,373)
Stage 2 to Stage 1	711,412	502,822
Stage 3 To Stage 1	44	5
Decrease through write-off, financial assets	(6,975)
Financial assets at end of period	100,218,376	77,959,473
Stage 2
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	1,328,709	746,402
Acquisition / (Settlements)	(86,385)	(94,996)
Business Combination	3,042
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	2,295,553	1,186,760
Stage 2 to Stage 1	(711,412)	(502,823)
Stage 2 to Stage 3	(33,246)	(6,642)
Stage 3 to Stage 2	142	8
Decrease through write-off, financial assets	(10,202)
Financial assets at end of period	2,786,201	1,328,709
Stage 3
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	19,319	3,499
Acquisition / (Settlements)	(11,034)	(3,182)
Business Combination	18,083
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets		12,373
Stage 1 to Stage 3	198,592
Stage 2 to Stage 1		(5)
Stage 2 to Stage 3	33,246	(8)
Stage 3 To Stage 1	(44)
Stage 3 to Stage 2	(142)	6,642
Decrease through write-off, financial assets	(20,890)
Financial assets at end of period	237,130	19,319
Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	79,307,501	57,689,744
Acquisition / (Settlements)	22,666,202	21,617,757
Business Combination	1,306,072
Decrease through write-off, financial assets	38,068
Financial assets at end of period	103,241,707	79,307,501
Total on-balance exposures \| Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	73,200,175	55,631,857
Acquisition / (Settlements)	19,093,545	18,076,043
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	(1,800,466)	(945,055)
Stage 1 to Stage 3	(193,066)	(12,373)
Stage 2 to Stage 1	518,241	449,698
Stage 3 To Stage 1	27	5
Decrease through write-off, financial assets	6,975
Financial assets at end of period	91,894,479	73,200,175
Total on-balance exposures \| Stage 2
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	1,073,170	686,994
Acquisition / (Settlements)	(111,875)	(102,544)
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	1,800,466	945,055
Stage 2 to Stage 1	(518,241)	(449,698)
Stage 2 to Stage 3	(33,238)	(6,642)
Stage 3 to Stage 2	117	5
Decrease through write-off, financial assets	10,202
Financial assets at end of period	2,202,931	1,073,170
Total on-balance exposures \| Stage 3
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	19,319	3,494
Acquisition / (Settlements)	(11,003)	(3,180)
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets		12,373
Stage 1 to Stage 3	193,066
Stage 2 to Stage 1		(5)
Stage 2 to Stage 3	33,238	(5)
Stage 3 To Stage 1	(27)
Stage 3 to Stage 2	(117)	6,642
Decrease through write-off, financial assets	20,890
Financial assets at end of period	231,590	19,319
Total on-balance exposures \| Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	74,292,664	56,322,345
Acquisition / (Settlements)	18,970,668	17,970,319
Business Combination	1,103,736
Decrease through write-off, financial assets	38,068
Financial assets at end of period	94,329,000	74,292,664
Total on-balance exposures \| Loans and credit card operations \| Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Business Combination	1,082,998
Total on-balance exposures \| Loans and credit card operations \| Stage 2
Disclosure of financial assets that are either past due or impaired [line items]
Business Combination	2,734
Total on-balance exposures \| Loans and credit card operations \| Stage 3
Disclosure of financial assets that are either past due or impaired [line items]
Business Combination	18,004
Financial assets at fair value through other comprehensive income \| Securities \| Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	35,150,599	32,339,904
Acquisition / (Settlements)	8,543,238	2,810,695
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 To Stage 1	0	0
Financial assets at end of period	43,693,837	35,150,599
Financial assets at fair value through other comprehensive income \| Securities \| Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	35,150,599	32,339,904
Acquisition / (Settlements)	8,543,238	2,810,695
Business Combination	0
Decrease through write-off, financial assets	0
Financial assets at end of period	43,693,837	35,150,599
Financial assets amortized cost \| Securities \| Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	9,275,027	2,241,304
Acquisition / (Settlements)	(2,413,534)	7,033,723
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 To Stage 1	0	0
Financial assets at end of period	6,861,493	9,275,027
Financial assets amortized cost \| Securities \| Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	9,275,027	2,241,304
Acquisition / (Settlements)	(2,413,534)	7,033,723
Business Combination	0
Decrease through write-off, financial assets	0
Financial assets at end of period	6,861,493	9,275,027
Financial assets amortized cost \| Securities purchased under agreements to resell \| Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	7,606,501	8,897,100
Acquisition / (Settlements)	7,285,280	(1,290,599)
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 To Stage 1	0	0
Financial assets at end of period	14,891,781	7,606,501
Financial assets amortized cost \| Securities purchased under agreements to resell \| Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	7,606,501	8,897,100
Acquisition / (Settlements)	7,285,280	(1,290,599)
Business Combination	0
Decrease through write-off, financial assets	0
Financial assets at end of period	14,891,781	7,606,501
Financial assets amortized cost \| Loans and credit card operations \| Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	21,168,048	12,153,549
Acquisition / (Settlements)	5,678,561	9,522,224
Business Combination	1,082,998
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	(1,800,466)	(945,055)
Stage 1 to Stage 3	(193,066)	(12,373)
Stage 2 to Stage 1	518,241	449,698
Stage 3 To Stage 1	27	5
Decrease through write-off, financial assets	6,975
Financial assets at end of period	26,447,368	21,168,048
Financial assets amortized cost \| Loans and credit card operations \| Stage 2
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	1,073,170	686,994
Acquisition / (Settlements)	(111,875)	(102,544)
Business Combination	2,734
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	1,800,466	945,055
Stage 2 to Stage 1	(518,241)	(449,698)
Stage 2 to Stage 3	(33,238)	(6,642)
Stage 3 to Stage 2	117	5
Decrease through write-off, financial assets	10,202
Financial assets at end of period	2,202,931	1,073,170
Financial assets amortized cost \| Loans and credit card operations \| Stage 3
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	19,319	3,494
Acquisition / (Settlements)	(11,003)	(3,180)
Business Combination	18,004
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets		12,373
Stage 1 to Stage 3	193,066
Stage 2 to Stage 1		(5)
Stage 2 to Stage 3	33,238	(5)
Stage 3 To Stage 1	(27)
Stage 3 to Stage 2	(117)	6,642
Decrease through write-off, financial assets	20,890
Financial assets at end of period	231,590	19,319
Financial assets amortized cost \| Loans and credit card operations \| Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	22,260,537	12,844,037
Acquisition / (Settlements)	5,555,684	9,416,500
Business Combination	1,103,736
Decrease through write-off, financial assets	38,068
Financial assets at end of period	28,881,889	22,260,537
Off-balance exposures (credit card limits) \| Stage 1
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	4,759,298	1,307,986
Acquisition / (Settlements)	3,670,075	3,639,893
Business Combination	201,949
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	(495,087)	(241,705)
Stage 1 to Stage 3	(5,526)	0
Stage 2 to Stage 1	193,171	53,124
Stage 2 to Stage 3		0
Stage 3 To Stage 1	17
Decrease through write-off, financial assets	0
Financial assets at end of period	8,323,897	4,759,298
Off-balance exposures (credit card limits) \| Stage 2
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	255,539	59,408
Acquisition / (Settlements)	25,490	7,548
Business Combination	308
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets	495,087	241,705
Stage 2 to Stage 1	(193,171)	(53,125)
Stage 2 to Stage 3	(8)	0
Stage 3 to Stage 2	25	3
Decrease through write-off, financial assets	0
Financial assets at end of period	583,270	255,539
Off-balance exposures (credit card limits) \| Stage 3
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	0	5
Acquisition / (Settlements)	(31)	(2)
Business Combination	79
Increase (Decrease) Through Transfers From Stage 1 To Stage 2 Financial Assets		0
Stage 1 to Stage 3	5,526
Stage 2 to Stage 1		0
Stage 2 to Stage 3	8	(3)
Stage 3 To Stage 1	(17)
Stage 3 to Stage 2	(25)	0
Decrease through write-off, financial assets	0
Financial assets at end of period	5,540	0
Off-balance exposures (credit card limits) \| Consolidated Stages
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets at beginning of period	5,014,837	1,367,399
Acquisition / (Settlements)	3,695,534	3,647,438
Business Combination	202,336
Decrease through write-off, financial assets	0
Financial assets at end of period	R$ 8912707	R$ 5014837

Expected Credit Losses on Fin_4

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount - ECLs measured using simplified approach (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	R$ 229197214	R$ 177681987
Evaluated at amortized cost \| Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	8,056,055	7,577,150
Evaluated at amortized cost \| Securities trading and intermediation \| Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	3,047,011	3,376,179
Evaluated at amortized cost \| Accounts Receivable \| Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	745,097	632,673
Evaluated at amortized cost \| Others \| Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	R$ 4263947	R$ 3568298

Expected Credit Losses on Fin_5

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount - Expected credit losses (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	R$ 269347
Expected credit loss, ending balance	584,831	R$ 269347
Expected Credit Loss	584,831	269,347
Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	55,008	27,276
Acquisition / (Settlements)	238,690	43,543
Business Combination	31,802
Stage 1 to Stage 2	(68,522)	(8,334)
Stage 1 to Stage 3	(167,284)	(8,624)
Stage 2 to Stage 1	1,360	1,147
Stage 3 to Stage 1	1	0
Write-Off	(6,975)
Expected credit loss, ending balance	84,080	55,008
Expected Credit Loss	84,080	55,008
Stage 2
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	9,084	7,530
Acquisition / (Settlements)	42,692	(325)
Business Combination	810
Stage 1 to Stage 2	68,522	8,334
Stage 2 to Stage 1	(1,360)	(1,147)
Stage 2 to Stage 3	(28,664)	(5,308)
Stage 3 to Stage 2	17	0
Write-Off	(10,202)
Expected credit loss, ending balance	80,899	9,084
Expected Credit Loss	80,899	9,084
Stage 3
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	14,181
Acquisition / (Settlements)	35,647
Business Combination	15,286
Stage 1 to Stage 3	167,284
Stage 2 to Stage 3	28,664
Stage 3 to Stage 1	(1)
Stage 3 to Stage 2	(17)
Write-Off	(74,996)
Expected credit loss, ending balance	186,048	14,181
Expected Credit Loss	186,048	14,181
Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	78,273	37,003
Acquisition / (Settlements)	317,029	41,270
Business Combination	47,898
Write-Off	(92,172)
Expected credit loss, ending balance	351,028	78,273
Expected Credit Loss	351,028	78,273
Total on-balance exposures
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	247,905
Expected credit loss, ending balance	566,700	247,905
Expected Credit Loss	566,700	247,905
Total on-balance exposures \| Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	34,994	26,550
Acquisition / (Settlements)	230,626	22,916
Business Combination	27,499
Stage 1 to Stage 2	(63,095)	(6,940)
Stage 1 to Stage 3	(148,305)	(8,624)
Stage 2 to Stage 1	1,173	1,092
Stage 3 to Stage 1	1	0
Write-Off	(6,975)
Expected credit loss, ending balance	75,918	34,994
Expected Credit Loss	75,918	34,994
Total on-balance exposures \| Stage 2
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	7,656	7,242
Acquisition / (Settlements)	43,159	(127)
Business Combination	807
Stage 1 to Stage 2	63,095	6,940
Stage 2 to Stage 1	(1,173)	(1,091)
Stage 2 to Stage 3	(28,663)	(5,308)
Stage 3 to Stage 2	17	0
Write-Off	(10,202)
Expected credit loss, ending balance	74,696	7,656
Expected Credit Loss	74,696	7,656
Total on-balance exposures \| Stage 3
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	14,181	2,197
Acquisition / (Settlements)	(3,226)	(1,948)
Business Combination	15,268
Stage 1 to Stage 2		8,624
Stage 1 to Stage 3	148,304
Stage 2 to Stage 1		0
Stage 2 to Stage 3	28,663	0
Stage 3 to Stage 1	(1)
Stage 3 to Stage 2	(17)	5,308
Write-Off	(20,891)
Expected credit loss, ending balance	182,281	14,181
Expected Credit Loss	182,281	14,181
Total on-balance exposures \| Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	56,831	35,989
Acquisition / (Settlements)	270,560	20,842
Business Combination	43,573
Write-Off	(38,068)
Expected credit loss, ending balance	332,896	56,831
Expected Credit Loss	332,896	56,831
Financial assets at fair value through other comprehensive income
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	8,077
Expected credit loss, ending balance	12,199	8,077
Expected Credit Loss	12,199	8,077
Financial assets at fair value through other comprehensive income \| Securities
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	8,077
Expected credit loss, ending balance	12,199	8,077
Expected Credit Loss	12,199	8,077
Financial assets at fair value through other comprehensive income \| Securities \| Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	8,077	7,527
Acquisition / (Settlements)	4,122	550
Stage 1 to Stage 2	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 to Stage 1	0	0
Expected credit loss, ending balance	12,199	8,077
Expected Credit Loss	12,199	8,077
Financial assets at fair value through other comprehensive income \| Securities \| Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	8,077	7,527
Acquisition / (Settlements)	4,122	550
Business Combination	0
Write-Off	0
Expected credit loss, ending balance	12,199	8,077
Expected Credit Loss	12,199	8,077
Financial assets amortized cost
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	239,828
Expected credit loss, ending balance	554,501	239,828
Expected Credit Loss	554,501	239,828
Financial assets amortized cost \| Stage 3
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	14,181	2,197
Acquisition / (Settlements)		(1,948)
Stage 1 to Stage 2		8,624
Stage 2 to Stage 1		0
Stage 2 to Stage 3		0
Stage 3 to Stage 2		5,308
Expected credit loss, ending balance		14,181
Expected Credit Loss		14,181
Financial assets amortized cost \| Securities
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	2,924
Expected credit loss, ending balance	6,072	2,924
Expected Credit Loss	6,072	2,924
Financial assets amortized cost \| Securities \| Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	2,924	2,497
Acquisition / (Settlements)	3,148	427
Stage 1 to Stage 2	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 to Stage 1	0	0
Expected credit loss, ending balance	6,072	2,924
Expected Credit Loss	6,072	2,924
Financial assets amortized cost \| Securities \| Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	2,924	2,497
Acquisition / (Settlements)	3,148	427
Business Combination	0
Write-Off	0
Expected credit loss, ending balance	6,072	2,924
Expected Credit Loss	6,072	2,924
Financial assets amortized cost \| Securities purchased under agreements to resell
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	2,681
Expected credit loss, ending balance	2,803	2,681
Expected Credit Loss	2,803	2,681
Financial assets amortized cost \| Securities purchased under agreements to resell \| Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	2,681	2,569
Acquisition / (Settlements)	122	112
Stage 1 to Stage 2	0	0
Stage 1 to Stage 3	0	0
Stage 2 to Stage 1	0	0
Stage 3 to Stage 1	0	0
Expected credit loss, ending balance	2,803	2,681
Expected Credit Loss	2,803	2,681
Financial assets amortized cost \| Securities purchased under agreements to resell \| Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	2,681	2,569
Acquisition / (Settlements)	122	112
Business Combination	0
Write-Off	0
Expected credit loss, ending balance	2,803	2,681
Expected Credit Loss	2,803	2,681
Financial assets amortized cost \| Loans and credit card operations
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	43,149
Expected credit loss, ending balance	311,823	43,149
Expected Credit Loss	311,823	43,149
Financial assets amortized cost \| Loans and credit card operations \| Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	21,312	13,957
Acquisition / (Settlements)	223,234	21,827
Business Combination	27,499
Stage 1 to Stage 2	(63,095)	(6,940)
Stage 1 to Stage 3	(148,305)	(8,624)
Stage 2 to Stage 1	1,173	1,092
Stage 3 to Stage 1	1	0
Write-Off	(6,975)
Expected credit loss, ending balance	54,844	21,312
Expected Credit Loss	54,844	21,312
Financial assets amortized cost \| Loans and credit card operations \| Stage 2
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	7,656	7,242
Acquisition / (Settlements)	43,159	(127)
Business Combination	807
Stage 1 to Stage 2	63,095	6,940
Stage 2 to Stage 1	(1,173)	(1,091)
Stage 2 to Stage 3	(28,663)	(5,308)
Stage 3 to Stage 2	17	0
Write-Off	(10,202)
Expected credit loss, ending balance	74,696	7,656
Expected Credit Loss	74,696	7,656
Financial assets amortized cost \| Loans and credit card operations \| Stage 3
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	14,181	2,197
Acquisition / (Settlements)	(3,226)	(1,948)
Business Combination	15,268
Stage 1 to Stage 2		8,624
Stage 1 to Stage 3	148,304
Stage 2 to Stage 1		0
Stage 2 to Stage 3	28,663	0
Stage 3 to Stage 1	(1)
Stage 3 to Stage 2	(17)	5,308
Write-Off	(20,891)
Expected credit loss, ending balance	182,281	14,181
Expected Credit Loss	182,281	14,181
Financial assets amortized cost \| Loans and credit card operations \| Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	43,149	23,396
Acquisition / (Settlements)	263,168	19,753
Business Combination	43,573
Write-Off	(38,068)
Expected credit loss, ending balance	311,822	43,149
Expected Credit Loss	311,822	43,149
Off-balance exposures (credit card limits)
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	6,228
Expected credit loss, ending balance	18,131	6,228
Expected Credit Loss	18,131	6,228
Off-balance exposures (credit card limits) \| Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	4,800	726
Acquisition / (Settlements)	8,064	5,413
Business Combination	4,303
Stage 1 to Stage 2	(5,427)	(1,394)
Stage 1 to Stage 3	(3,765)	0
Stage 2 to Stage 1	187	55
Stage 3 to Stage 1	0	0
Write-Off	0
Expected credit loss, ending balance	8,162	4,800
Expected Credit Loss	8,162	4,800
Off-balance exposures (credit card limits) \| Stage 2
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	1,428	288
Acquisition / (Settlements)	(467)	(198)
Business Combination	3
Stage 1 to Stage 2	5,427	1,394
Stage 2 to Stage 1	(187)	(56)
Stage 2 to Stage 3	(1)	0
Stage 3 to Stage 2	0	0
Write-Off	0
Expected credit loss, ending balance	6,203	1,428
Expected Credit Loss	6,203	1,428
Off-balance exposures (credit card limits) \| Stage 3
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	0
Acquisition / (Settlements)	(18)
Business Combination	18
Stage 1 to Stage 3	3,766
Stage 2 to Stage 3	1
Stage 3 to Stage 1	0
Stage 3 to Stage 2	0
Write-Off	0
Expected credit loss, ending balance	3,767	0
Expected Credit Loss	3,767	0
Off-balance exposures (credit card limits) \| Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	6,228	1,014
Acquisition / (Settlements)	7,579	5,214
Business Combination	4,325
Write-Off	0
Expected credit loss, ending balance	18,132	6,228
Expected Credit Loss	18,132	6,228
Other off-balance exposures
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	15,214
Expected credit loss, ending balance	0	15,214
Expected Credit Loss	0	15,214
Other off-balance exposures \| Stage 1
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	15,214	0
Acquisition / (Settlements)		15,214
Stage 1 to Stage 2		0
Stage 1 to Stage 3	(15,214)	0
Stage 2 to Stage 1		0
Stage 3 to Stage 1		0
Expected credit loss, ending balance	0	15,214
Expected Credit Loss	0	15,214
Other off-balance exposures \| Stage 3
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	0
Acquisition / (Settlements)	38,891
Business Combination	0
Stage 1 to Stage 3	15,214
Stage 2 to Stage 3	0
Stage 3 to Stage 1	0
Stage 3 to Stage 2	0
Write-Off	(54,105)
Expected credit loss, ending balance	0	0
Expected Credit Loss	0	0
Other off-balance exposures \| Consolidated Stages
Changes in allowance account for credit losses of financial assets [abstract]
Expected credit loss, beginning balance	15,214	0
Acquisition / (Settlements)	38,890	15,214
Business Combination	0
Write-Off	(54,104)
Expected credit loss, ending balance	0	15,214
Expected Credit Loss	R$ 0	R$ 15214

Expected Credit Losses on Fin_6

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount - Expected credit loss using simplified method (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	R$ 584831	R$ 269347
Evaluated at amortized cost
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	554,501	239,828
Evaluated at amortized cost \| Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	233,803	191,074
Evaluated at amortized cost \| Securities trading and intermediation
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	114,692	105,179
Evaluated at amortized cost \| Securities trading and intermediation \| Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	114,692	105,179
Evaluated at amortized cost \| Accounts Receivable
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	63,907	34,786
Evaluated at amortized cost \| Accounts Receivable \| Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	63,907	34,786
Evaluated at amortized cost \| Others
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	55,204	51,109
Evaluated at amortized cost \| Others \| Measured Using Simplified Approach
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	R$ 55204	R$ 51109

Expected Credit Losses on Fin_7

Expected Credit Losses on Financial Assets and Reconciliation of carrying amount - Expected credit loss segregated by product (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	R$ 584831	R$ 269347
Financial assets at fair value through other comprehensive income
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	12,199	8,077
Financial assets at fair value through other comprehensive income \| Securities
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	12,199	8,077
Evaluated at amortized cost
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	554,501	239,828
Evaluated at amortized cost \| Securities
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	6,072	2,924
Evaluated at amortized cost \| Securities purchased under agreements to resell
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	2,803	2,681
Evaluated at amortized cost \| Loans and credit card operations
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	311,823	43,149
Evaluated at amortized cost \| Securities trading and intermediation
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	114,692	105,179
Evaluated at amortized cost \| Accounts Receivable
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	63,907	34,786
Evaluated at amortized cost \| Others
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	55,204	51,109
Total on-balance exposures
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	566,700	247,905
Off-balance exposures (credit card limits)
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	18,131	6,228
Other off-balance exposures
Disclosure of financial assets that are either past due or impaired [line items]
Expected Credit Loss	R$ 0	R$ 15214

Investments in associates and_3

Investments in associates and joint ventures (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity-accounted method
Balance at beginning of period	R$ 2271731	R$ 2013365
Equity (iv)		332,114
Equity in earnings	21,104	(66,466)
Other comprehensive income		(7,282)
Goodwill		0
Balance at end of period	3,108,660	2,271,731	R$ 2013365
Measured at fair value
Balance at beginning of period	2,271,731	2,013,365
Balance at end of period	3,108,660	2,271,731	2,013,365
Balance at beginning of period	2,271,731	2,013,365
Equity (iv)	268,015
Equity in earnings	21,104	(66,466)
Other comprehensive income	10,139
Goodwill	537,671
Balance at end of period	3,108,660	2,271,731	2,013,365
Share of profit or (loss) in joint ventures and associates	73,507	(12,165)	(7,710)
Du Agro Holdings S.A.
Equity-accounted method
Balance at beginning of period	0	1,197
Equity (iv)		69
Other comprehensive income		(31)
Goodwill		0
Balance at end of period		0	1,197
Measured at fair value
Balance at beginning of period	0	1,197
Balance at end of period		0	1,197
Balance at beginning of period	0	1,197
Balance at end of period		0	1,197
Share of profit or (loss) in joint ventures and associates		(1,235)
Wealth High Governance Holding De Participações S.A., O Primo Rico Mídia, Educacional e Participações Ltda. and NK112 Empreendimentos e Participações S.A.
Equity-accounted method
Balance at beginning of period	748,306	790,744
Equity (iv)	288,333	(24,257)
Other comprehensive income	10,139	(7,251)
Goodwill	537,671	0
Balance at end of period	1,657,956	748,306	790,744
Measured at fair value
Balance at beginning of period	748,306	790,744
Balance at end of period	1,657,956	748,306	790,744
Balance at beginning of period	748,306	790,744
Balance at end of period	1,657,956	748,306	790,744
Share of profit or (loss) in joint ventures and associates	R$ 73507	R$ 10930
Wealth High Governance Holding de Participações S.A.
Disclosure of associates [line items]
Proportion of ownership interest in associate	49.90%	49.90%
O Primo Rico Mídia, Educacional e Participações Ltda.
Disclosure of associates [line items]
Proportion of ownership interest in associate	21.83%	2,926%
NK112 Empreendimentos e Participações S.A.
Disclosure of associates [line items]
Proportion of ownership interest in associate	49.90%
Novus Capital Gestora de Recursos Ltda
Disclosure of associates [line items]
Proportion of ownership interest in associate	2,750%
Ctrl+e Participações Ltda
Disclosure of associates [line items]
Proportion of ownership interest in associate	3,500%
Monte Bravo Holding JV S.A
Disclosure of associates [line items]
Proportion of ownership interest in associate	4,500%
Blue3 S.A.
Disclosure of associates [line items]
Proportion of ownership interest in associate	4,200%
XP FIP Managers
Equity-accounted method
Balance at beginning of period	R$ 1523425	R$ 1221424
Balance at end of period	1,450,704	1,523,425	1,221,424
Measured at fair value
Balance at beginning of period	1,523,425	1,221,424
Equity (iv)	(20,318)	356,302
Equity in earnings	(52,403)	(54,301)
Other comprehensive income	0	0
Goodwill	0	0
Balance at end of period	1,450,704	1,523,425	1,221,424
Balance at beginning of period	1,523,425	1,221,424
Balance at end of period	R$ 1450704	R$ 1523425	R$ 1221424

Property, equipment, intangib_3

Property, equipment, intangible assets and leases - Summary of property and equipment (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	R$ 310894	R$ 313964	R$ 204032
Additions	66,004	44,563	135,444
Business combinations	39,533
Write-offs	(1,277)	(1,179)	(2,300)
Transfers	0	(15,018)	5
Foreign exchange	(856)	444	(110)
Depreciation in the year	(42,648)	(30,992)	(23,107)
Ending balance	373,362	310,894	313,964
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	403,386	375,803
Ending balance	558,877	403,386	375,803
Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(92,492)	(61,839)
Ending balance	(185,515)	(92,492)	(61,839)
Data processing system
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	50,054	57,931	33,882
Additions	9,124	10,775	37,469
Business combinations	35,945
Write-offs	(1,059)	0	(298)
Transfers	0	101	5
Foreign exchange	(779)	(21)	(31)
Depreciation in the year	(26,923)	(18,774)	(13,096)
Ending balance	67,920	50,054	57,931
Data processing system \| Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	101,101	89,376
Ending balance	178,361	101,101	89,376
Data processing system \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(51,047)	(31,445)
Ending balance	(110,441)	(51,047)	(31,445)
Furniture and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	14,707	18,221	22,616
Additions	11,328	152	93
Business combinations	1,881
Write-offs	(158)	0	(728)
Transfers	1,501	41	(15)
Foreign exchange	(16)	58	245
Depreciation in the year	(4,740)	(3,649)	(3,990)
Ending balance	24,535	14,707	18,221
Furniture and equipment \| Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	31,291	31,813
Ending balance	46,815	31,291	31,813
Furniture and equipment \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(16,584)	(13,592)
Ending balance	(22,280)	(16,584)	(13,592)
Security systems
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,139	690	1,003
Additions	728	1,542	229
Business combinations	94
Write-offs	(8)	0	(170)
Transfers	624	0	15
Foreign exchange	(1)	0	(327)
Depreciation in the year	(260)	(93)	(60)
Ending balance	3,318	2,139	690
Security systems \| Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,557	1,584
Ending balance	4,490	2,557	1,584
Security systems \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(418)	(894)
Ending balance	(1,172)	(418)	(894)
Facilities
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	34,123	39,200	44,921
Additions	338	245	4
Business combinations	797
Write-offs	(52)	0	(375)
Transfers	18,041	104	0
Foreign exchange	(60)	407	3
Depreciation in the year	(7,285)	(5,019)	(5,353)
Ending balance	46,022	34,123	39,200
Facilities \| Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	54,553	54,535
Ending balance	90,191	54,553	54,535
Facilities \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(20,430)	(15,335)
Ending balance	(44,169)	(20,430)	(15,335)
Fixed assets in progress
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	179,485	164,096	101,610
Additions	44,486	31,849	63,250
Business combinations	816
Write-offs	0	(1,179)	(729)
Transfers	(20,166)	(15,264)	0
Foreign exchange	0	0	0
Depreciation in the year	0	(17)	(35)
Ending balance	204,621	179,485	164,096
Fixed assets in progress \| Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	179,485	164,096
Ending balance	204,621	179,485	164,096
Fixed assets in progress \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0
Ending balance	0	0	0
Vehicle
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	30,386	33,826	0
Additions	0	0	34,399
Business combinations	0
Write-offs	0	0	0
Transfers	0	0	0
Foreign exchange	0	0	0
Depreciation in the year	(3,440)	(3,440)	(573)
Ending balance	26,946	30,386	33,826
Vehicle \| Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	34,399	34,399
Ending balance	34,399	34,399	34,399
Vehicle \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(4,013)	(573)
Ending balance	R$ 7453	R$ 4013	R$ 573

Property, equipment, intangib_4

Property, equipment, intangible assets and leases - Summary of intangible assets (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	R$ 844182	R$ 820975	R$ 713562
Additions	130,219	82,412	217,569
Business combinations	1,690,160	60,037	70,598
Write-offs	(30,200)	(19,626)	(17,211)
Transfers	0	0	(5)
Foreign exchange	1,494	(3,987)	(426)
Amortization in the year	(133,810)	(95,629)	(163,112)
Ending balance	2,502,045	844,182	820,975
Software
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	88,339	152,332	115,153
Additions	22,387	13,655	146,761
Business combinations	46,916	0	1,734
Write-offs	(4,945)	(7,337)	(13,536)
Transfers	77,964	10,125	51,994
Foreign exchange	0	(3,986)	(971)
Amortization in the year	(71,680)	(76,450)	(148,803)
Ending balance	158,981	88,339	152,332
Goodwill
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	595,222	542,745	474,366
Additions	0	0	0
Business combinations	1,257,605	60,037	68,379
Write-offs	(19,420)	(156)	0
Transfers	0	(7,404)	0
Foreign exchange	0	0	0
Amortization in the year	0	0	0
Ending balance	1,833,407	595,222	542,745
Customer list
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	61,504	92,489	58,285
Additions	58,692	13,000	40,000
Business combinations	355,730	0	0
Write-offs	0	(12,133)	0
Transfers	(7,876)	(21,189)	0
Foreign exchange	0	0	0
Amortization in the year	(35,076)	(10,663)	(5,796)
Ending balance	432,974	61,504	92,489
Trademarks
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	12,540	2,567	10,748
Additions	0	0	0
Business combinations	29,909	0	485
Write-offs	(3,113)	0	(1,000)
Transfers	7,090	18,468	485
Foreign exchange	0	0	341
Amortization in the year	(11,468)	(8,495)	(8,492)
Ending balance	34,958	12,540	2,567
Other intangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	86,577	30,842	55,010
Additions	49,140	55,757	30,808
Business combinations	0	0	0
Write-offs	(2,722)	0	(2,675)
Transfers	(77,178)	0	(52,484)
Foreign exchange	1,494	(1)	204
Amortization in the year	(15,586)	(21)	(21)
Ending balance	41,725	86,577	30,842
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,124,343	1,082,314
Ending balance	2,784,476	1,124,343	1,082,314
Cost \| Software
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	276,195	303,724
Ending balance	302,560	276,195	303,724
Cost \| Goodwill
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	595,222	542,745
Ending balance	1,833,407	595,222	542,745
Cost \| Customer list
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	141,252	116,050
Ending balance	555,674	141,252	116,050
Cost \| Trademarks
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	25,000	88,877
Ending balance	51,110	25,000	88,877
Cost \| Other intangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	86,674	30,918
Ending balance	41,725	86,674	30,918
Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(280,161)	(261,339)
Ending balance	(282,431)	(280,161)	(261,339)
Accumulated amortization \| Software
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(187,856)	(151,392)
Ending balance	(143,579)	(187,856)	(151,392)
Accumulated amortization \| Goodwill
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0
Ending balance	0	0	0
Accumulated amortization \| Customer list
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(79,748)	(23,561)
Ending balance	(122,700)	(79,748)	(23,561)
Accumulated amortization \| Trademarks
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(12,460)	(86,310)
Ending balance	(16,152)	(12,460)	(86,310)
Accumulated amortization \| Other intangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(97)	(76)
Ending balance	R$ 0	R$ 97	R$ 76

Property, equipment, intangib_5

Property, equipment, intangible assets and leases - Additional details (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [abstract]
Long-term growth rate utilized in the impairment test of goodwill	3.50%
Average pre-tax discount rate applied to cash flow projections	13.85%	13.83%
Rent expense on lease liabilities	R$ 14491

Property, equipment, intangib_6

Property, equipment, intangible assets and leases - Summary of right-of-use assets and lease liabilities (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Right-of-use assets
Beginning balance	R$ 258491	R$ 284509
Current	0	0
Non-current	281,804	258,491
Additions	90,851	49,764
Business combination	17,493
Depreciation expense	(75,955)	(79,256)
Decrease Through Write-Off, Right-Of-Use Assets	114
Revaluation	1,187	8,929
Effects of exchange rate	(6,285)	(5,455)
Ending balance	281,804	258,491
Lease liabilities
Beginning balance	285,638	318,555
Current	123,978	69,722
Non-current	180,784	215,916
Additions	116,774	49,853
Business combination	19,802
Write off	(675)
Interest expense on Right-use assets	(3,864)
Interest expense on lease liabilities	22,927	22,794
Revaluation	0	(89)
Payment of lease liabilities	(6,967)	(5,820)
As of December 31, 2022	(132,737)	(99,655)
Ending balance	R$ 304762	R$ 285638

Financing instruments payable -

Financing instruments payable - Schedule (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of Assets, Liabilities, and Equity [Line Items]
Market funding operations	R$ 54831509	R$ 38093772
Deposits	27,493,655	20,261,532
Demand deposits	1,812,469	803,031
Time deposits	25,230,996	19,445,276
Interbank deposits	450,190	13,225
Financial bills	9,019,789	5,675,596
Financial Liabilities At Amortized Cost, Structured Operations Certificates	18,015,165	12,109,576
Other financing instruments payables	302,900	47,068
Total	5,534,081	5,589,857
Debentures	2,212,441	2,028,681
Bond	3,321,640	3,561,176
Total	60,365,590	43,683,629
Current	22,946,160	19,794,572
Non-Current	R$ 37419430	R$ 23889057

Financing instruments payable_2

Financing instruments payable - Maturity (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	R$ 1812469	R$ 803031
Other financing instruments payables	302,900	47,068
Time deposits	25,230,996	19,445,276
Interbank deposits	450,190	13,225
Financial bills	9,019,789	5,675,596
Financial Liabilities At Amortized Cost, Structured Operations Certificates	18,015,165	12,109,576
Market funding operations	54,831,509	38,093,772
Within 30 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	1,812,469	803,031
Other financing instruments payables	1,119	0
Time deposits	1,944,623	3,604,494
Interbank deposits	0	0
Financial bills	30,954	0
Financial Liabilities At Amortized Cost, Structured Operations Certificates	23,345	0
Market funding operations	3,812,510	4,407,525
From 31 to 60 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	0	0
Other financing instruments payables	17,116	0
Time deposits	2,823,731	4,273,475
Interbank deposits	0	0
Financial bills	43,635	0
Financial Liabilities At Amortized Cost, Structured Operations Certificates	32,730	0
Market funding operations	2,917,212	4,273,475
From 61 to 90 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	0	0
Other financing instruments payables	0	1,031
Time deposits	5,370,064	5,187,106
Interbank deposits	0	0
Financial bills	94,499	2,390
Financial Liabilities At Amortized Cost, Structured Operations Certificates	1,756	5,720
Market funding operations	5,466,319	5,196,247
From 91 to 180 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	0	0
Other financing instruments payables	46,688	13,053
Time deposits	2,522,206	1,382,514
Interbank deposits	1,006	3,092
Financial bills	680,490	1,637,547
Financial Liabilities At Amortized Cost, Structured Operations Certificates	69,879	35,773
Market funding operations	3,320,269	3,071,979
From 181 to 360 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	0	0
Other financing instruments payables	235,513	32,984
Time deposits	2,878,827	2,016,732
Interbank deposits	276,113	0
Financial bills	2,103,902	405,901
Financial Liabilities At Amortized Cost, Structured Operations Certificates	712,046	261,019
Market funding operations	6,206,401	2,716,636
After 360 days
Subclassifications of assets, liabilities and equities [Line Items]
Demand deposits	0	0
Other financing instruments payables	2,464	0
Time deposits	9,691,545	2,980,955
Interbank deposits	173,071	10,133
Financial bills	6,066,309	3,629,758
Financial Liabilities At Amortized Cost, Structured Operations Certificates	17,175,409	11,807,064
Market funding operations	R$ 33108798	R$ 18427910

Financing instruments payable_3

Financing instruments payable - Debt securities (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of Assets, Liabilities, and Equity [Line Items]
Bond	R$ 3321640	R$ 3561176
Debentures	2,212,441	2,028,681
Total	5,534,081	5,589,857
Current	1,223,449	234,828
Non- Current	4,310,632	5,355,029
0-1 year
Subclassifications of Assets, Liabilities, and Equity [Line Items]
Bond	118,402	128,710
Debentures	1,105,047	106,118
Total	1,223,449	234,828
From 1 to 5 years
Subclassifications of Assets, Liabilities, and Equity [Line Items]
Bond	3,203,238	3,432,466
Debentures	1,107,394	1,922,563
Total	R$ 4310632	R$ 5355029

Financing instruments payable_4

Financing instruments payable - Debt securities, additional information (Details) R$ in Thousands, $ in Millions			12 Months Ended
	Jul. 01, 2021 BRL (R$)	Jul. 01, 2021 USD ($)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2022 BRL (R$)	Dec. 31, 2021 BRL (R$)	Jul. 19, 2022 BRL (R$)	Dec. 08, 2021 BRL (R$)
Disclosure of detailed information about borrowings [line items]
Notional value			R$ 20967989	R$ 18563230	R$ 9738021
Proceeds from borrowings			2,252,550	0	R$ 1570639
Debentures			2,212,441	R$ 2028681
Senior Unsecured Notes Due on July 1, 2026
Disclosure of detailed information about borrowings [line items]
Notional value \| $		$ 750
Proceeds from borrowings	R$ 3697000	$ 739
Interest rate		3.25%
Non-Convertible Debentures \| XP Energia
Disclosure of detailed information about borrowings [line items]
Debentures			R$ 2212441			R$ 1800000	R$ 485511
Non-Convertible Debentures \| XP Energia \| CDI Rate
Disclosure of detailed information about borrowings [line items]
Interest rate, adjustment to basis							2.50%
Non-Convertible Debentures \| XP Energia \| Series 1 [Member]
Disclosure of detailed information about borrowings [line items]
Debentures						900,000
Non-Convertible Debentures \| XP Energia \| Series 1 [Member] \| CDI Rate
Disclosure of detailed information about borrowings [line items]
Interest rate, adjustment to basis			1.75%
Non-Convertible Debentures \| XP Energia \| Series 2 [Member]
Disclosure of detailed information about borrowings [line items]
Debentures						R$ 900000
Non-Convertible Debentures \| XP Energia \| Series 2 [Member] \| CDI Rate
Disclosure of detailed information about borrowings [line items]
Interest rate, adjustment to basis			1.90%

Securities trading and interm_3

Securities trading and intermediation (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Summary of Securities, Trading and Intermediation Assets and Liabilities [Abstract]
Cash and settlement records	R$ 1277579	R$ 1394451
Debtors pending settlement	1,768,735	1,980,341
(-) Expected losses on Securities trading and intermediation (a)	(114,692)	(105,179)
Other	697	1,387
Total Assets	2,932,319	3,271,000
Cash and settlement records	166,625	171,659
Creditors pending settlement	1,957,045	2,401,828
Customer's cash on investment account	14,819,869	13,489,210
Total Liabilities	R$ 16943539	R$ 16062697

Borrowings (Details)

Borrowings (Details) - BRL (R$) R$ in Thousands	12 Months Ended
Borrowings (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Current	R$ 2199422	R$ 1865880
Non-current	0	0
Third Parties
Disclosure of detailed information about borrowings [line items]
Current	R$ 2199422	1,865,880
Banco Nacional de México \| Financial Institution
Disclosure of detailed information about borrowings [line items]
Interest rate	2.55%
Maturity	May 2023
Current	R$ 0	1,586,052
International Finance Corporation \| Financial Institution
Disclosure of detailed information about borrowings [line items]
Maturity	April 2023
Current	R$ 0	279,828
International Finance Corporation \| Financial Institution \| CDI Rate
Disclosure of detailed information about borrowings [line items]
Interest rate	0.74%
Banco Nacional de México \| Financial Institution
Disclosure of detailed information about borrowings [line items]
Maturity	August 2024
Current	R$ 2198619	0
Banco Nacional de México \| Financial Institution \| SOFR rate [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate	0.40%
Banco Daycoval \| Financial Institution
Disclosure of detailed information about borrowings [line items]
Interest rate	15.66%
Maturity	September 2024
Current	R$ 803	R$ 0

Other financial assets and fi_3

Other financial assets and financial liabilities - Other financial assets (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Foreign exchange portfolio	R$ 1022083	R$ 2145174
Receivables from IFAs	165,640	172,884
Compulsory and other deposits at Central Bank	2,956,896	1,119,169
Other financial assets	119,328	131,071
(-) Expected losses on other financial assets	(55,204)	(51,109)
Total	4,208,743	3,517,189
Current	3,471,827	2,791,244
Non-current	R$ 736916	R$ 725945

Other financial assets and fi_4

Other financial assets and financial liabilities - Other financial liabilities (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Foreign exchange portfolio	R$ 1361882	R$ 2405429
Structured financing	1,841,790	1,933,522
Credit cards operations	7,234,116	4,987,390
Contingent consideration	571,723	566,930
Commitments subject to possible redemption	0	1,049,130
Lease liabilities	304,762	285,638	R$ 318555
Others	917,103	326,174
Total	12,231,376	11,554,213
Current	11,974,989	11,014,262
Non-current	R$ 256387	R$ 539951
Maturity period for the total contingent consideration payment	5 years
Disclosure of contingent liabilities [line items]
Contractual maximum amount payable	R$ 833000
Bottom of range
Disclosure of contingent liabilities [line items]
Contractual amount payable for contingent consideration	R$ 0

Social and statutory obligati_3

Social and statutory obligations - Additional information (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Social and statutory obligations	R$ 1146127	R$ 968119

Social and statutory obligati_4

Social and statutory obligations - Summary of social and statutory obligations (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Obligations to non-controlling interest	R$ 75196	R$ 40646
Employee profit-sharing liabilities	910,739	794,761
Salaries and other benefits payable	160,192	132,712
Social and statutory obligations	R$ 1146127	R$ 968119

Tax and social security oblig_3

Tax and social security obligations - Summary of Tax and Social Security Obligations (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Tax and Social Security Obligations [Abstract]
Income Tax (IRPJ and CSLL) (i)	R$ 225677	R$ 143133
Taxes on long term incentive plan	192,776	120,194
Contributions over revenue (PIS and COFINS)	63,819	11,475
Taxes on services (ISS)	23,096	20,042
Contributions for Social Security (INSS)	27,529	24,927
Others	26,750	45,648
Total	559,647	365,419
Current	559,647	365,419
Non-current	R$ 0	R$ 0

Tax and social security oblig_4

Tax and social security obligations - Additional Information (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Tax and Social Security Obligations [Abstract]
Corporate income tax liability	R$ 313167	R$ 164767
Corporate income tax prepaid	166,755	20,741
Withholding taxes payable	R$ 116591	R$ 42375

Retirement plans liabilities (D

Retirement plans liabilities (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of defined benefit plans [abstract]
Beginning balance	R$ 45733815	R$ 31921400
Contributions received	3,333,361	3,007,321
Transfer with third party plans	5,562,491	10,580,681
Claims paid	(210)	0
Withdraws	(3,847,214)	(3,441,303)
Other provisions (Constitution/Reversion)	(9,185)	(54,828)
Monetary correction and interest income	(5,617,647)	(3,610,888)
Ending balance	R$ 56409075	R$ 45733815

Income tax - Summary of compone

Income tax - Summary of components of deferred tax assets and deferred tax liabilities (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	R$ 2017771	R$ 1500839	R$ 1244135	R$ 496694
Deferred tax expense (income)	516,932	256,704	747,441
Deferred tax assets	2,104,128	1,611,882
Deferred tax liabilities	(86,357)	(111,043)
Tax losses carryforwards
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	742,245	575,120
Deferred tax expense (income)	167,125	466,982	100,756
Goodwill on business combinations
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	35,823	6,376
Deferred tax expense (income)	29,447	(6,053)	(10,409)
Provisions for IFAs’ commissions
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	90,075	71,986
Deferred tax expense (income)	18,089	(4,988)	(17,570)
Revaluations of financial assets at fair value
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	(166,281)	(214,456)
Deferred tax expense (income)	48,175	(388,197)	190,520
Expected credit losses (ii)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	335,711	58,208
Deferred tax expense (income)	277,503	14,277	24,487
Profit sharing plan
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	278,983	269,949
Deferred tax expense (income)	9,034	9,084	96,057
Net gain on hedge instruments
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	(22,704)	(11,169)
Deferred tax expense (income)	(11,535)	(39,292)	7,137
Share-based compensation
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	627,730	566,721
Deferred tax expense (income)	61,009	181,127	269,618
Other provisions [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability (asset)	96,189	178,104
Deferred tax expense (income)	R$ 81915	R$ 23764	R$ 86845

Income tax - Summary of reconci

Income tax - Summary of reconciliation of changes in deferred tax liability asset (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Major components of tax expense (income) [abstract]
Beginning balance	R$ 1500839	R$ 1244135	R$ 496694
Foreign exchange variations	(78,128)	5,786	(16,949)
Business combination	401,521	0	0
Charges to statement of income	549,702	397,792	387,551
Tax relating to components of other comprehensive income	(356,163)	(146,874)	376,839
Ending balance	R$ 2017771	R$ 1500839	R$ 1244135

Income tax - Additional informa

Income tax - Additional information (Details) - BRL (R$)	12 Months Ended
Income tax - Additional information (Details) - BRL (R$)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Major components of tax expense (income) [abstract]
Unused tax losses for which no deferred tax asset recognised	R$ 5338	R$ 12705
Applicable tax rate	34%	34%	34%

Income tax - Summary of income

Income tax - Summary of income tax calculation (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Income before income tax	R$ 3936348	R$ 3444656	R$ 3815174
Combined tax rate in Brazil	34%	34%	34%
Tax expense at the combined rate	R$ 1338359	R$ 1171183	R$ 1297159
Loss (income) from entities not subject to deferred taxation	0	245	554
Effects from entities taxed at different rates	(43,572)	62,596	146,377
Effects from entities taxed at different taxation regimes	(1,174,605)	(1,343,757)	(1,128,400)
Intercompany transactions with different taxation regimes	(68,673)	(46,674)	(79,055)
Tax incentives	(17,835)	(5,346)	(21,036)
Non-deductible expenses (non-taxable income)	(17,459)	(3,758)	(25,216)
Effect from Social Contribution on net equity rate increase	0	985	0
Others	20,742	21,455	(18,101)
Income tax credit / (expense)	36,957	(135,555)	222,714
Current	586,659	262,237	610,265
Deferred	R$ 549702	R$ 397792	R$ 387551

Income tax - Summary of analysi

Income tax - Summary of analysis of other comprehensive income by item (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Foreign exchange variation of investees located abroad
Before tax	R$ 41160	R$ 19645	R$ 20977
(Charge) / Credit	0	0	0
Foreign exchange variation of investees located abroad	(41,160)	(19,645)	20,977
Gains (losses) on net investment hedge
Before tax	41,477	26,154	(29,701)
(Charge) / Credit	(6,874)	(8,902)	10,942
Gains (losses) on net investment hedge	34,603	17,252	(18,758)
Changes in the fair value of financial assets at fair value
Before tax	905,670	356,078	(914,914)
(Charge) / Credit	(349,289)	(137,972)	365,897
Changes in the fair value of financial assets at fair value through other comprehensive income	556,381	218,106	(549,017)
Balance
Before tax	905,987	362,587	(923,637)
Tax relating to components of other comprehensive income	(356,163)	(146,874)	376,839
Other comprehensive income (loss) for the period, net of tax	R$ 549824	R$ 215713	R$ 546798

Equity - Additional information

Equity - Additional information (Details) $ / shares in Units, R$ in Thousands, $ in Thousands			1 Months Ended		12 Months Ended
	Jul. 01, 2023 USD ($) shares	Jan. 10, 2022 USD ($) shares	Sep. 25, 2023 BRL (R$)	Sep. 22, 2023 BRL (R$)	Dec. 31, 2023 BRL (R$) unit shares	Dec. 31, 2022 BRL (R$) shares	Dec. 31, 2021 BRL (R$) shares	Dec. 31, 2023 USD ($) $ / shares shares	Apr. 05, 2023 BRL (R$) shares
Disclosure of classes of share capital [line items]
Authorized share capital \| $								$ 35
Number of shares authorised					3,500,000,000			3,500,000,000
Par value per share \| $ / shares								$ 0.00001
Authorized shares but unissued					500,000,000			500,000,000
Issued capital					R$ 26	R$ 24		$ 26
Number of shares outstanding					549,493,174	560,518,755	559,548,724	549,493,174
Number of votes per share \| unit					10
Issue of equity \| R$					R$ 2097326	R$ 70031	R$ 112642
Number of shares reserved for issue under options and contracts for sale of shares					16,189,406	16,211,666		16,189,406
Number of shares held in treasury					1,056,308	19,203,135		1,056,308
Treasury shares \| R$					R$ 117117	R$ 1986762
Dividend declared					R$ 3542298			$ 720,000
Dividend paid \| R$			R$ 1577622	R$ 1964676
Class A Common Shares
Disclosure of classes of share capital [line items]
Number of shares issued					2,000,000,000			2,000,000,000
Issuance of shares					1,523,743
Issue of equity \| R$					R$ 317378
Number of shares issued during the period	18,717,771,000	445,328
Value of shares issued during the period \| $	$ 2,097,326	$ 70,030
Number of shares repurchased and held in treasury					13,120,268,000
Shares repurchased and held in treasury \| R$					R$ 915859
Number of shares cancellation approved									31,267,095,000
Shares cancellation approved \| R$									R$ 2785504
Class B Common Shares
Disclosure of classes of share capital [line items]
Number of shares issued					1,000,000,000			1,000,000,000
Number of shares outstanding					112,717,094	112,717,094	135,394,989	112,717,094
RSUs
Disclosure of classes of share capital [line items]
Number of shares reserved for issue under options and contracts for sale of shares					14,600,588,000	13,684,424		14,600,588,000
Maximum Percentage Of Shares					5%
PSUs
Disclosure of classes of share capital [line items]
Number of shares reserved for issue under options and contracts for sale of shares					1,588,818	2,527,242		1,588,818

Equity - Summary of issuances a

Equity - Summary of issuances and conversations of shares (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of classes of share capital [line items]
Beginning balance	560,518,755	559,548,724
Transfer of classes	(31,267,095)	0
Follow on offering		970,031
Issuance of shares	20,241,514
Ending balance	549,493,174	560,518,755
Class A Common Share
Disclosure of classes of share capital [line items]
Beginning balance	447,801,661	424,153,735
Transfer of classes	(31,267,095)	22,677,895
Follow on offering		970,031
Issuance of shares	20,241,514
Ending balance	436,776,080	447,801,661
Class B Common Shares
Disclosure of classes of share capital [line items]
Beginning balance	112,717,094	135,394,989
Transfer of classes	0	(22,677,895)
Follow on offering		0
Issuance of shares	0
Ending balance	112,717,094	112,717,094

Related party transactions - Su

Related party transactions - Summary of key management personnel compensation expense (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of transactions between related parties [abstract]
Fixed compensation	R$ 17445	R$ 7837	R$ 8801
Variable compensation	15,843	60,781	44,362
Total	R$ 33288	R$ 68618	R$ 53163

Related party transactions - _2

Related party transactions - Summary of transactions between related parties explanatory (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	R$ 0	R$ 3562079
Revenue/(Expenses)	6,104	(160,835)	R$ 60177
Securities
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	0	238,088
Revenue/(Expenses)	17,403	24,770	4,270
Securities purchased under agreements to resell
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	0	0
Revenue/(Expenses)	5,101	9,370	19,098
Accounts receivable and Loans operations
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	0	476
Revenue/(Expenses)	424	1,330	744
Securities sold under repurchase agreements
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	0	(3,800,643)
Revenue/(Expenses)	(16,824)	(196,305)	(84,268)
Borrowings
Disclosure of transactions between related parties [line items]
Assets/(Liabilities)	0	0
Revenue/(Expenses)	R$ 0	R$ 0	R$ 21

Provisions and contingent lia_3

Provisions and contingent liabilities - Summary of other provisions (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of other provisions [line items]
Other provisions	R$ 97678	R$ 43541	R$ 29308	R$ 19711
Judicial deposits	22,108	12,077
Tax contingencies
Disclosure of other provisions [line items]
Other provisions	1,537	0
Civil contingencies
Disclosure of other provisions [line items]
Other provisions	37,921	20,419
Labor contingencies
Disclosure of other provisions [line items]
Other provisions	57,965	7,908
Other provisions (i)
Disclosure of other provisions [line items]
Other provisions	R$ 255	R$ 15214

Provisions and contingent lia_4

Provisions and contingent liabilities - Summary of changes in other provisions (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of other provisions [abstract]
Beginning of period	R$ 43541	R$ 29308	R$ 19711
Business combination	70,910	0	0
Monetary correction	25,954	4,449	6,837
Provision	65,731	23,844	8,457
Reversed	(55,791)	(11,539)	(3,132)
Payments	(52,667)	(2,521)	(2,565)
End of period	R$ 97678	R$ 43541	R$ 29308

Provisions and contingent lia_5

Provisions and contingent liabilities - Additional information (Details) R$ in Thousands	Dec. 31, 2023 BRL (R$) claim	Dec. 31, 2022 BRL (R$)	Dec. 31, 2021 BRL (R$)	Dec. 31, 2020 BRL (R$)
Disclosure of contingent liabilities [line items]
Other provisions	R$ 97678	R$ 43541	R$ 29308	R$ 19711
Civil
Disclosure of contingent liabilities [line items]
Other provisions	R$ 37921	20,419
Number of civil and administrative claims for which the likelihood of loss has been classified as probable \| claim	777
Labor (v)
Disclosure of contingent liabilities [line items]
Other provisions	R$ 57965	R$ 7908

Provisions and contingent lia_6

Provisions and contingent liabilities - Summary of contingent liabilities (Details) - BRL (R$) R$ in Thousands	Feb. 14, 2024	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	Dec. 31, 2012
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities		R$ 1826688	R$ 893745
Banco Modal SA Employees Profit Sharing Plan
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities		6,637
Tax
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities		653,714	543,463
Tax \| Federal Revenue of Brazil v. Company re. Brazilian Law 10,101/00
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities				R$ 135739	R$ 142447	R$ 118395	R$ 54220	R$ 20879
Tax \| Employees Profit Sharing Plan
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities	R$ 193183
Tax \| Amortization of Goodwill
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities		82,285
Civil
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities		883,485	335,644
Labor (v)
Disclosure of contingent liabilities [line items]
Estimated financial effect of contingent liabilities		R$ 289489	R$ 14638

Total revenue and income - Disa

Total revenue and income - Disaggregation of revenue by major service lines (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Brokerage commission	R$ 1991781	R$ 2102878	R$ 2465217
Securities placement	1,979,406	1,631,399	1,917,403
Management fees	1,628,373	1,580,770	1,489,736
Insurance brokerage fee	175,326	153,230	133,070
Commissions Fees	789,822	563,987	192,923
Other services	588,932	476,492	603,330
Revenue before sales taxes and contributions on revenue	7,153,640	6,508,756	6,801,679
Sales taxes and contributions on revenue	(621,635)	(568,300)	(605,214)
Net revenue from services rendered	R$ 6532005	R$ 5940456	R$ 6196465

Total revenue and income - Summ

Total revenue and income - Summary of net income from financial instruments (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Net income/(loss) from financial instruments at fair value through profit or loss	R$ 6923112	R$ 6326080	R$ 7555132
Net income (loss) from financial instruments at amortized cost and at fair value through other comprehensive income	1,649,210	1,201,253	(1,558,060)
Total Income from financial instruments	8,572,322	7,527,333	5,997,072
Taxes and contributions on financial income	(244,231)	(120,399)	(116,425)
Net income from financial instruments	R$ 8328091	R$ 7406934	R$ 5880647

Total revenue and income - Su_2

Total revenue and income - Summary of disaggregation by geographic location (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of disaggregation by geographic location [Line Items]
Total revenue and income	R$ 14860096	R$ 13347390	R$ 12077112
Selected assets	13,852,708	9,187,618	7,806,597
Brazil
Disclosure of disaggregation by geographic location [Line Items]
Total revenue and income	14,261,302	12,855,909	11,723,976
Selected assets	13,255,769	8,649,964	7,698,115
United States
Disclosure of disaggregation by geographic location [Line Items]
Total revenue and income	531,997	449,447	332,046
Selected assets	508,544	488,158	106,736
Europe
Disclosure of disaggregation by geographic location [Line Items]
Total revenue and income	66,797	42,034	21,090
Selected assets	R$ 88395	R$ 49496	R$ 1746

Operating costs (Details)

Operating costs (Details) - BRL (R$) R$ in Thousands	12 Months Ended
Operating costs (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Commission and incentive costs	R$ 3070875	R$ 2813308	R$ 2719611
Operating losses	136,014	139,734	93,664
Other costs	1,192,034	918,054	616,834
Clearing house fees	474,013	427,844	411,605
Third parties’ services	59,374	53,779	88,431
Credit card cashback	379,711	262,429	91,093
Other	278,936	174,002	25,705
Total	R$ 4398923	R$ 3871096	R$ 3430109

Operating expenses by nature (D

Operating expenses by nature (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Selling expenses	R$ 169486	R$ 138722	R$ 227483
Advertising and publicity	169,486	138,722	227,483
Administrative expenses	5,461,147	5,641,233	4,692,698
Personnel expenses	3,728,123	3,943,284	3,427,220
Compensation	1,371,973	1,597,229	1,416,247
Employee profit-sharing and bonus	1,531,491	1,540,172	1,362,046
Executives profit-sharing	149,263	100,732	143,763
Benefits	223,694	195,763	130,187
Social charges	437,377	487,237	358,878
Other	14,325	22,151	16,099
Other taxes expenses	65,526	71,396	53,603
Depreciation of property and equipment and right-of-use assets	118,603	110,248	68,618
Amortization of intangible assets	133,810	95,629	163,112
Other administrative expenses	1,415,085	1,420,676	980,145
Data processing	739,804	685,946	450,796
Technical services	152,499	188,986	167,984
Third parties' services	307,952	397,585	249,514
Rent expenses	23,656	14,491	16,498
Communication	31,577	27,076	30,041
Travel	36,232	40,243	13,282
Legal and judicial	24,610	9,873	9,292
Other	98,755	56,476	42,738
Total	R$ 5630633	R$ 5779955	R$ 4920181

Other operating income_(expen_3

Other operating income/(expenses), net (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Other operating income	R$ 227052	R$ 353834	R$ 413665
Revenue from incentives from Tesouro Direto, B3 and others	23,834	284,661	366,163
Interest received on tax	17,224	15,436	7,604
Recovery of charges and expenses	6,072	5,945	4,473
Reversal of operating provisions	29,365	11,704	7,422
Other	150,557	36,088	28,003
Other operating expenses	(216,414)	(96,890)	(89,311)
Legal, administrative proceedings and agreement with customers	(46,101)	(8,563)	(3,667)
Losses on write-off and disposal of assets	(77,886)	(6,794)	(4,377)
Tax incentive expenses	(10,034)	(5,780)	(10,788)
Fines and penalties	(9,624)	(4,574)	(1,378)
Associations and regulatory fees	(17,960)	(15,118)	(11,714)
Charity	(14,681)	(34,005)	(30,171)
Other	(40,128)	(22,056)	(27,216)
Total	R$ 10638	R$ 256944	R$ 324354

Share-based plan - Additional i

Share-based plan - Additional information (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2023 BRL (R$)	Dec. 31, 2022 BRL (R$) shares	Dec. 31, 2023 USD ($) shares	May 31, 2020 USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Maximum number of shares available for issuance under the share-based plan			5%
Number of shares reserved for issue under options and contracts for sale of shares \| shares		16,211,666	16,189,406
Expense from share-based payment transactions with employees \| R$	R$ 574225	R$ 793249
Tax provisions and does not include any tax benefits on total share based compensation expense \| R$	R$ 132998	R$ 189295
Weighted average fair value at measurement date, other equity instruments granted \| $			$ 34.83
RSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares reserved for issue under options and contracts for sale of shares \| shares		13,684,424	14,600,588
Weighted average fair value at measurement date, other equity instruments granted \| $			$ 27
PSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares reserved for issue under options and contracts for sale of shares \| shares		2,527,242	1,588,818
Weighted average fair value at measurement date, other equity instruments granted \| $			$ 34.56	$ 52.41

Share-based plan - Activity of

Share-based plan - Activity of RSUs and PSUs (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of units
Outstanding (shares)	16,211,666	18,119,890
Granted (shares)	4,581,499	814,745
Forfeited (shares)	(2,493,216)	(1,998,488)
Vested (shares)	(2,110,543)	(724,481)
Outstanding (shares)	16,189,406	16,211,666
RSUs
Number of units
Outstanding (shares)	13,684,424	15,153,830
Granted (shares)	4,489,910	814,745
Forfeited (shares)	(1,463,203)	(1,559,670)
Vested (shares)	(2,110,543)	(724,481)
Outstanding (shares)	14,600,588	13,684,424
PSUs
Number of units
Outstanding (shares)	2,527,242	2,966,060
Granted (shares)	91,589	0
Forfeited (shares)	(1,030,013)	(438,818)
Vested (shares)	0	0
Outstanding (shares)	1,588,818	2,527,242

Earnings per share (basic and_3

Earnings per share (basic and diluted) (Details) - BRL (R$) R$ / shares in Units, shares in Thousands, R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per share [abstract]
Net Income attributable to owners of the Parent	R$ 3898702	R$ 3579050	R$ 3589416
Basic weighted average number of outstanding shares (in shares)	539,835	555,429	559,004
Basic earnings per share (in R$ per share)	R$ 7.2220	R$ 6.4438	R$ 6.4211
Share-based plan and treasury shares (in shares)	4,377	17,577	14,496
Diluted weighted average number of outstanding shares (in shares)	544,212	573,006	573,499
Diluted earnings per share (in R$ per share)	R$ 7.1639	R$ 6.2461	R$ 6.2588

Determination of fair value (De

Determination of fair value (Details) R$ in Thousands	12 Months Ended
Determination of fair value (Details) R$ in Thousands	Dec. 31, 2023 BRL (R$)	Dec. 31, 2022 BRL (R$)
Financial assets at Fair value through profit or loss
Securities	R$ 103282212	R$ 87513004
Financial Assets at Fair Value Through Profit or Loss, Derivative Financial Instruments	23,733,466	9,217,155
Fair value through other comprehensive income
Securities	44,062,950	34,478,668
Evaluated at amortized cost
Securities	6,855,421	9,272,103
Securities purchased under agreements to resell	14,888,978	7,603,820
Securities trading and intermediation	2,932,319	3,271,000
Financial Assets At Amortized Cost Accounts Receivable	681,190	597,887
Loan operations	28,551,935	22,211,161
Financial Assets At Amortized Cost Other Financial Assets	4,208,743	3,517,189
Fair value through profit or loss
Securities	20,423,074	13,529,265
Derivative financial instruments	24,785,416	8,605,409
Evaluated at amortized cost
Securities sold under repurchase agreements	33,340,511	31,790,091
Securities trading and intermediation	16,943,539	16,062,697
Financing instruments payable	60,365,590	43,683,629
Financial Liabilities At Amortized Cost Borrowings	2,199,422	1,865,880
Financial Liabilities At Amortized Cost Accounts Payables	948,218	617,394
Financial Liabilities At Amortized Cost Other Financial Liabilities	R$ 12231376	11,554,213
Reasonably possible increase (decrease) in variable, percent	1%
Increase (decrease) in fair value due to change in discount rate, liability	R$ 3915
Increase (decrease) in fair value due to change in discount rate by 100 bps, asset	R$ 14507
Discount rate
Evaluated at amortized cost
Weighted average discount rate	0.1003
Fair value
Financial assets at Fair value through profit or loss
Securities	R$ 103282212	87,513,004
Financial Assets at Fair Value Through Profit or Loss, Derivative Financial Instruments	23,733,466	9,217,155
Investments in associates measured at fair value	1,450,704	1,523,425
Fair value through other comprehensive income
Securities	44,062,950	34,478,668
Evaluated at amortized cost
Securities	6,855,421	9,275,026
Securities purchased under agreements to resell	13,551,224	7,172,777
Securities trading and intermediation	2,932,319	3,271,000
Financial Assets At Amortized Cost Accounts Receivable	681,190	597,887
Loan operations	28,551,935	20,874,930
Financial Assets At Amortized Cost Other Financial Assets	4,208,743	3,517,189
Fair value through profit or loss
Securities	20,423,074	13,529,265
Derivative financial instruments	24,785,416	8,605,409
Evaluated at amortized cost
Securities sold under repurchase agreements	44,589,653	31,370,050
Securities trading and intermediation	16,943,539	16,062,697
Financing instruments payable	61,098,677	43,669,798
Financial Liabilities At Amortized Cost Borrowings	3,174,285	1,814,714
Financial Liabilities At Amortized Cost Accounts Payables	948,218	617,394
Financial Liabilities At Amortized Cost Other Financial Liabilities	12,231,376	11,554,213
Level 1 \| Fair value
Financial assets at Fair value through profit or loss
Securities	92,628,880	73,022,643
Financial Assets at Fair Value Through Profit or Loss, Derivative Financial Instruments	977,441	296,249
Investments in associates measured at fair value	0	0
Fair value through other comprehensive income
Securities	44,062,950	34,478,668
Evaluated at amortized cost
Securities	3,773,404	7,579,658
Securities purchased under agreements to resell	0	0
Securities trading and intermediation	0	0
Financial Assets At Amortized Cost Accounts Receivable	0	0
Loan operations	0	0
Financial Assets At Amortized Cost Other Financial Assets	0	0
Fair value through profit or loss
Securities	19,949,021	13,048,246
Derivative financial instruments	662,084	167,874
Evaluated at amortized cost
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	0	0
Financial Liabilities At Amortized Cost Borrowings	0	0
Financial Liabilities At Amortized Cost Accounts Payables	0	0
Financial Liabilities At Amortized Cost Other Financial Liabilities	0	0
Level 2 \| Fair value
Financial assets at Fair value through profit or loss
Securities	10,653,332	14,490,361
Financial Assets at Fair Value Through Profit or Loss, Derivative Financial Instruments	22,756,025	8,920,906
Investments in associates measured at fair value	0	0
Fair value through other comprehensive income
Securities	0	0
Evaluated at amortized cost
Securities	3,082,017	1,695,368
Securities purchased under agreements to resell	13,551,224	7,172,777
Securities trading and intermediation	2,932,319	3,271,000
Financial Assets At Amortized Cost Accounts Receivable	681,190	597,887
Loan operations	20,874,930	20,874,930
Financial Assets At Amortized Cost Other Financial Assets	4,208,743	3,517,189
Fair value through profit or loss
Securities	474,053	481,019
Derivative financial instruments	24,123,332	8,437,535
Evaluated at amortized cost
Securities sold under repurchase agreements	44,589,653	31,370,050
Securities trading and intermediation	16,943,539	16,062,697
Financing instruments payable	61,098,677	43,669,798
Financial Liabilities At Amortized Cost Borrowings	3,174,285	1,814,714
Financial Liabilities At Amortized Cost Accounts Payables	948,218	617,394
Financial Liabilities At Amortized Cost Other Financial Liabilities	11,659,653	10,987,283
Level 3 \| Fair value
Financial assets at Fair value through profit or loss
Securities	0	0
Financial Assets at Fair Value Through Profit or Loss, Derivative Financial Instruments	0	0
Investments in associates measured at fair value	1,450,704	1,523,425
Fair value through other comprehensive income
Securities	0	0
Evaluated at amortized cost
Securities	0	0
Securities purchased under agreements to resell	0	0
Securities trading and intermediation	0	0
Financial Assets At Amortized Cost Accounts Receivable	0	0
Loan operations	0	0
Financial Assets At Amortized Cost Other Financial Assets	0	0
Fair value through profit or loss
Securities	0	0
Derivative financial instruments	0	0
Evaluated at amortized cost
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	0	0
Financial Liabilities At Amortized Cost Borrowings	0	0
Financial Liabilities At Amortized Cost Accounts Payables	0	0
Financial Liabilities At Amortized Cost Other Financial Liabilities	R$ 571723	R$ 566930

Management of financial risks_3

Management of financial risks and financial instruments (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Securities purchased under agreements to resell	R$ 14888978	R$ 7603820
Securities	154,200,583	131,263,775
Public securities	75,289,433	63,895,371
Private securities	78,911,150	67,368,404
Derivative financial instruments	23,733,466	9,217,155
Securities trading and intermediation	2,932,319	3,271,000
Accounts receivable	681,190	597,887
Loan operations	28,551,935	22,211,161
Other financial assets	4,208,743	3,517,189
Off-balance exposures	8,912,707	5,014,845
Total	R$ 238109921	R$ 182696832

Management of financial risks_4

Management of financial risks and financial instruments - Summary of financial liabilities into groupings based on their contractual maturities (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets [line items]
Securities	R$ 20423074	R$ 13529265
Derivative financial instruments	24,785,416	8,605,409
Securities sold under repurchase agreements	33,340,511	31,790,091
Securities trading and intermediation	16,943,539	16,062,697
Financing instruments payable	60,365,590	43,683,629
Financial Liabilities At Amortized Cost Borrowings	2,199,422	1,865,880
Financial Liabilities At Amortized Cost Accounts Payables	948,218	617,394
Financial Liabilities At Amortized Cost Other Financial Liabilities	12,231,376	11,554,213
Financial liabilities	171,237,146	127,708,578
Up to 1 month
Disclosure of financial assets [line items]
Securities	19,949,021	13,048,246
Derivative financial instruments	5,580,573	796,909
Securities sold under repurchase agreements	32,796,941	31,790,091
Securities trading and intermediation	16,943,539	16,062,697
Financing instruments payable	3,812,510	4,407,525
Financial Liabilities At Amortized Cost Borrowings	0	0
Financial Liabilities At Amortized Cost Accounts Payables	948,218	617,394
Financial Liabilities At Amortized Cost Other Financial Liabilities	5,815,141	5,959,212
Financial liabilities	85,845,943	72,682,074
From 2 to 3 months
Disclosure of financial assets [line items]
Securities	0	0
Derivative financial instruments	2,719,744	845,446
Securities sold under repurchase agreements	543,570	0
Securities trading and intermediation	0	0
Financing instruments payable	8,383,531	9,469,722
Financial Liabilities At Amortized Cost Borrowings	10,796	0
Financial Liabilities At Amortized Cost Accounts Payables	0	0
Financial Liabilities At Amortized Cost Other Financial Liabilities	756,864	534,835
Financial liabilities	12,414,505	10,850,003
From 4 to 12 months
Disclosure of financial assets [line items]
Securities	0	0
Derivative financial instruments	6,773,980	2,340,407
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	10,690,918	5,917,325
Financial Liabilities At Amortized Cost Borrowings	2,188,626	1,865,880
Financial Liabilities At Amortized Cost Accounts Payables	0	0
Financial Liabilities At Amortized Cost Other Financial Liabilities	4,588,231	4,432,215
Financial liabilities	24,241,755	14,555,827
From 1 to 5 years
Disclosure of financial assets [line items]
Securities	0	0
Derivative financial instruments	7,873,062	4,507,132
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	36,648,126	23,078,719
Financial Liabilities At Amortized Cost Borrowings	0
Financial Liabilities At Amortized Cost Accounts Payables	0	0
Financial Liabilities At Amortized Cost Other Financial Liabilities	1,056,580	627,951
Financial liabilities	45,577,768	28,213,802
Above 5 years
Disclosure of financial assets [line items]
Securities	474,053	481,019
Derivative financial instruments	1,838,057	115,515
Securities sold under repurchase agreements	0	0
Securities trading and intermediation	0	0
Financing instruments payable	830,505	810,338
Financial Liabilities At Amortized Cost Borrowings	0	0
Financial Liabilities At Amortized Cost Accounts Payables	0	0
Financial Liabilities At Amortized Cost Other Financial Liabilities	14,560	0
Financial liabilities	R$ 3157175	R$ 1406872

Management of financial risks_5

Management of financial risks and financial instruments - Additional information (Details) £ in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 GBP (£)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 GBP (£)
XP Holdings
Disclosure of sensitivity analysis [Line Items]
Foreign Currency Risk	$ 83,991		$ 74,150
XP Advisors Inc
Disclosure of sensitivity analysis [Line Items]
Foreign Currency Risk	$ 8,803		$ 5,744
XP Holdings UK Ltd
Disclosure of sensitivity analysis [Line Items]
Foreign Currency Risk \| £		£ 12,861		£ 6,967

Management of financial risks_6

Management of financial risks and financial instruments - Summary of sensitivity analysis (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	R$ 6691	R$ 13770
Sensitivity analysis increase decrease in twenty five percent	11,399	(447,576)
Sensitivity analysis increase decrease in fifty percent	438,189	(1,231,925)
Fixed interest rate \| Fixed interest rate in Reais
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(258)	(174)
Sensitivity analysis increase decrease in twenty five percent	21,269	(231,438)
Sensitivity analysis increase decrease in fifty percent	22,753	(483,589)
Exchange coupons \| Foreign currencies coupon rate
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(367)	(15)
Sensitivity analysis increase decrease in twenty five percent	(18,174)	(5,407)
Sensitivity analysis increase decrease in fifty percent	(36,588)	(10,418)
Foreign currencies \| Exchange rates
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	331	(2,089)
Sensitivity analysis increase decrease in twenty five percent	343,440	22,825
Sensitivity analysis increase decrease in fifty percent	907,349	(120,873)
Price indexes \| Inflation coupon rates
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(103)	(118)
Sensitivity analysis increase decrease in twenty five percent	(12,998)	(19,523)
Sensitivity analysis increase decrease in fifty percent	(24,579)	(40,147)
Share \| Shares prices
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(3,472)	(4,689)
Sensitivity analysis increase decrease in twenty five percent	(251,572)	(46,927)
Sensitivity analysis increase decrease in fifty percent	(289,613)	(242,687)
Seed Money \| Seed Money
Disclosure of sensitivity analysis [Line Items]
Sensitivity analysis increase decrease in one percent	(2,822)	(6,685)
Sensitivity analysis increase decrease in twenty five percent	(70,566)	(167,106)
Sensitivity analysis increase decrease in fifty percent	R$ 141133	R$ 334211

Capital management - Summary of

Capital management - Summary of net debt and corresponding gearing ratios (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Group debt	R$ 8512319	R$ 8175437
Structured financing	1,841,790	1,933,522
Total debt	10,354,109	10,108,959
Cash	(3,943,307)	(3,553,126)	R$ 2485641
Securities purchased under agreements to resell	(2,760,296)	(646,478)	(1,071,328)
Certificate deposits (Securities)	(67,985)	(252,877)	R$ 194892
Deposits at Central Bank	(2,438,896)	(514,999)
Net debt	1,143,625	5,141,479
Total equity attributable to owners of the parent company	19,449,352	17,035,735
Total capital	R$ 20592977	R$ 22177214
Gearing ratio %	5.55%	23.18%

Capital management - Additional

Capital management - Additional information (Details) R$ in Thousands	Dec. 31, 2022 BRL (R$)
Subclassifications of assets, liabilities and equities [abstract]
Contracts under financial covenants	R$ 279828

Cash flow information (Details)

Cash flow information (Details) - BRL (R$)	12 Months Ended
Cash flow information (Details) - BRL (R$)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Total debt, beginning balance	R$ 8659420000	R$ 7081618000	R$ 827785000
Acquisitions/Issuance	2,742,805,000	1,940,353,000	5,878,167,000
Business combination	20,780,000
Payments/repurchase	(2,556,703,000)	(277,715,000)	(254,197,000)
Write-offs	(675,000)	(89,000)	24,234,000
Net foreign exchange differences	(474,721,000)	(311,585,000)	512,162,000
Interest accrued	611,685,000	424,775,000	174,894,000
Interest paid	(145,066,000)	(197,937,000)	(81,427,000)
Total debt, ending balance	8,857,525,000	8,659,420,000	7,081,618,000
Fair value adjustments, liabilities arising from financing activities		350,207,000
Borrowings
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Total debt, beginning balance	1,865,880,000	1,928,782,000	284,087,000
Acquisitions/Issuance	2,252,550,000	0	1,570,639,000
Business combination	978,000
Payments/repurchase	(1,833,937,000)	(2,061,000)	(21,022,000)
Write-offs	0	0	0
Net foreign exchange differences	(147,802,000)	(87,158,000)	73,426,000
Interest accrued	61,753,000	69,593,000	21,689,000
Interest paid	0	(43,276,000)	(37,000)
Total debt, ending balance	2,199,422,000	1,865,880,000	1,928,782,000
Lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Total debt, beginning balance	285,638,000	318,555,000	208,448,000
Acquisitions/Issuance	116,774,000	49,853,000	116,248,000
Business combination	19,802,000
Payments/repurchase	(132,737,000)	(99,655,000)	(55,349,000)
Write-offs	(675,000)	(89,000)	24,234,000
Net foreign exchange differences	(6,967,000)	(5,820,000)	7,486,000
Interest accrued	22,927,000	22,794,000	17,488,000
Interest paid	0	0	0
Total debt, ending balance	304,762,000	285,638,000	318,555,000
Debentures
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Total debt, beginning balance	2,596,519,000	705,975,000	335,250,000
Acquisitions/Issuance	373,481,000	1,890,500,000	500,018,000
Business combination	0
Payments/repurchase	(527,687,000)	(175,999,000)	(177,826,000)
Write-offs	0	0	0
Net foreign exchange differences	0	0	0
Interest accrued	392,857,000	203,275,000	60,919,000
Interest paid	(28,396,000)	(27,232,000)	(12,386,000)
Total debt, ending balance	2,806,774,000	2,596,519,000	705,975,000
Fair value adjustments, liabilities arising from financing activities	120,280,000	86,819,000
Bonds
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Total debt, beginning balance	3,911,383,000	4,128,306,000	0
Acquisitions/Issuance	0	0	3,691,262,000
Business combination	0
Payments/repurchase	(62,342,000)	0	0
Write-offs	0	0	0
Net foreign exchange differences	(319,952,000)	(218,607,000)	431,250,000
Interest accrued	134,148,000	129,113,000	74,798,000
Interest paid	(116,670,000)	(127,429,000)	(69,004,000)
Total debt, ending balance	3,546,567,000	R$ 3911383000	R$ 4128306000
Fair value adjustments, liabilities arising from financing activities	R$ 224927000

Cash flow information - Additio

Cash flow information - Additional information (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2023 BRL (R$)
Disclosure of reconciliation of liabilities arising from financing activities [abstract]
Non-cash investing and financing activities related to business acquisitions through contingent consideration	R$ 2097326
Non-cash investing and financing activities related to acquisition of investment in associates through accounts payables	739,743
Non-Cash Investing And Financing Activities For Acquisition Of Investment In Associates, Contingent consideration	50,000
Minority stake acquisitions in associates amount paid in Jan 2024	669,743
Minority stake acquisitions in associates payable January 2025	35,000
Minority stake acquisitions in associates payable in January 2026	R$ 35000

Subsequent events (Details)

Subsequent events (Details) - shares	1 Months Ended
Subsequent events (Details) - shares	Feb. 28, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of non-adjusting events after reporting period [line items]
Number of shares outstanding		549,493,174	560,518,755	559,548,724
Class A Common shares
Disclosure of non-adjusting events after reporting period [line items]
Number of shares to be Repurchased	2,500,000