Related party transactions

3 Months Ended

12 Months Ended

Mar. 31, 2020

Dec. 31, 2019

14. Related party transactions

The main transactions carried with related parties, under commutative conditions, including interest rates, terms and guarantees, and period-end balances arising from such transactions are as follows:


	Assets/(Liabilities)						Revenue/(Expenses)
							Three months period ended March 31,
Relation and transaction	March 31, 2020			December 31, 2019			2020			2019
Shareholders with significant influence (i)		175,859			(732,420	)		(26,039	)		(9,841	)

Securities		152,636			123,813			3,780			2,094
Securities purchased under agreements to resell		64,999			196,009			(30,087	)		—
Accounts receivable		348			594			797			61
Securities sold under repurchase agreements		—			(1,000,168	)		—			—
Borrowings		(42,124	)		(52,668	)		(529	)		(11,996	)

(i)	These transactions are related to Itaú Unibanco who became shareholder of the Company in 2018 and since then a related party.

Transactions with related parties also includes transactions among the Company and its subsidiaries in the ordinary course of operations include 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. The effects of these transactions have been eliminated and do not have effects on the unaudited interim condensed consolidated financial statements.

24. Related party transactions

Transactions and remuneration of services with related parties are carried out in the ordinary course of business and under commutative conditions, 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:


	2019		2018		2017
Fixed compensation		4,821		3,329		2,708
Variable compensation		22,060		30,316		18,316

Total		26,881		33,645		21,024

On December 2019, the Board of Directors approved the grant of performance share unit (“PSUs”) to certain directors.

The executive statutory directors of XP Inc control XP Controle Participações S.A.

(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	2019			2018			2019			2018			2017
Shareholders with significant influence (i)		(732,420	)		(451,481	)		(49,779	)		(40,585	)		—

Securities		123,813			69,647			10,381			147,258			—
Securities purchased under agreements to resell		196,009			—			1,550			—			—
Accounts receivable		594			—			1,025			—			—
Securities sold under repurchase agreements		(1,000,168	)		(426,207	)		(58,078	)		(3,586	)		—
Borrowings		(52,668	)		(94,921	)		(4,657	)		(184,257	)		—

(i)	These transactions are related to Itaú Unibanco who became shareholder of the Company in 2018 and since then a related party. Therefore, transactions and balances with Itaú Unibanco in 2017 are not being reported as transactions with related parties.

Transactions with related parties also includes transactions among the Company and its subsidiaries in the course of normal operations include 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. The effects of these transactions have been eliminated and do not have effects on the consolidated financial statements.